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I'm in a trade 9 contracts deep now but I don't know if price is going to move enough in the next 30 minutes before the market closes. I may have to exit early. If the trade goes to completion, the possible outcomes are: win: $1,500 (approx after commission) lose: -$1,150 (approx after...

I'm not quite sure how to answer that. When you say "drawdown" do you mean "of a currently open trade" or do you mean "how much my account goes down based on closed trades, like during a streak of losing trades"? I've heard both of those used as the definition of "drawdown." Well for...

I address both those things. I address when I exit, which is established before I enter a trade. And I address why percentage gains don't matter for day traders. If my account was $100k I'd still trade exactly the same way and make the same DOLLAR profit, yet my percentage would be less...

I get "ads" in the mail from time to time for "managed Forex accounts" that guarantee huge monthly returns, too. "OMG LOOK AT OUR HISTORICAL RETURNS!" and it shows like 40% per month for years on end. lol. Too bad when you Google them you get tons of people saying how they lost money and...

It's already well documented in my journal thread how I trade, when I add, and when I exit. So no, I'm not even close to being at risk to lose my "50 large". I've explained this many times in this thread, too. You should read my posts before asking questions that have already been answered.

I never said compounding makes me mad. I said I'm content to make $500 per day and have no intention of scaling up even if my account is $1M. Sure, with a $50k account I go up to 9 ES contracts. Compounding that way, with a $1M account I could go up to 180 ES contracts but seeing $9,000 per...

After reading that explanation, I still don't think it makes sense. Why would you start making more risky/less payoff trades as you get more experienced?

Yes. Because that's an INVESTMENT (eg. I am essentially buying and holding by giving them my money) so percentage is relevant. Percentages are relevent for hedge funds, mutual funds, long term stock trades, etc. Not for traders. Saying that percentage matters for traders implies that...

out for a loss. -$444.80 for the day. $1,346.90 for the week.

I'm now in this last trade 9 contracts deep. It's go time

Still nobody gets it. Would you rather: 1. Make $100k a year on a $1M account or 2. Make $50k a year on a $50k account In #1 you make $100k but it's only 10%. In #2 to get to brag to your ET buddies about how you made 100% in a year. Percentage is how you measure...

I'm in my last trade of they day. If price hits 1170 before it hits 1165.50 then I win. If it hits 1165.50 first then I lose. Regardless, it's getting to be late in the day so I'm not going to take any more trades after this one. My first trade of the day was only 4 contracts deep and...

Why on earth would it move that way? As you learn, shouldn't you go from lower right (high risk, low profit) to upper left (low risk, high profit)???

Basically. For #1, consider if you and I both trade 2 ES contracts a day and we sit side by side and we always take the same entries and exits and we always make $500 per day, but your account has $1M in it and mine has $10k in it. After a year, we've both made the same amount of money on...

I will get into that later. It involves using another account and taking the opposite position. I originally was doing it long term with stocks. Depending on how one hedges, here are a few possible results: - A "winner" is slightly reduced - A "loser" is slightly reduced - Both long and...

I'm not sure what or who you're talking about, nor do I know what "flocking" is. Please rephrase?

Only one trade today, 4 contracts deep. Today's price action was boring. There was really only this one pullback on the 2500 tick chart. I may have to switch to volume charts or something. 2500 tick was kicking ass last week but it was boring today. Total for the week: $1,791.70.

No it wouldn't, because this method would also work with non-fib percentages being used. Remember, I normally don't even use fibs. I'm only doing it for this thread because I want to have the only profitable, non-vague, non-BS fib method out there. Fibs are used in this system, but they're...

Can't really reduce any more than starting with one contract :) I mean I could scale in differently but I'm content with how I do it now.

No. What's most important to me is that the max win is greater than the max possible loss. Any changing in the weighting of my position sizes would mess this up (unless I added even more to the 3rd entry which I don't want to do). I believe that price is essentially random* so having max...