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Hello Gaslight Capital, Thanks for the response. I will look into that. Do you know day traders that do not have losing days trading the futures markets? I've never heard of any. Just asking. Thanks.

yes, and you are getting alot of trading experience too and data collection to calculate expectancy.

I would record my trades in the journal and spreadsheet. Then I would sim trade. I would just try to get better trading on another market. The more trade examples I see, the better I get.

Look for more trades to take

Lol hahahha pretty much

Hello, How do you decide when to stop trading after losing on the day? For example, what % of your capitail do you have set for daily and weekly drawdown, that you will stop trading? I am trying to determine this percent for when I trade the ES daily and stop over trading and get the big...

Thanks smallfil, I am starting to use 2-3% risk of initial capital as well. What are your money rules for when to stop trading for the day after losses? I would like to use percent as well.

Maybe the stop should be tight per the strategy. My point is, it does not matter how tight/wide the stops are, after XX% of initial capital loss, the trading the method(s) must be stopped.

Sorry to hear about your friend. But there is no way on earth I have $450k in my trading account and I lose it all to $0.00 Setting a money management rule of 50% or even 30% drawdown of initial capital could have saved your friend a lot of losses. After 30% drawdown, the trader must stop...

LMFAO hahaha hahaha lol hahaha haha Maybe some traders need to understand the trading expectancy formula. Positive equals edge. Negative equals no edge.

NoahA, If I lose 3 trades in a roll, I am stop trading for the day. I don't not care about what my previous historical record shows. I care about protecting my capital or mental and having a good day and night and good night sleep. I will never continue trading after losing 3 in a roll...

Hello NoahA, Lets get it ready to kick so ES or MES ass tomorrow and have some fun and make some money man.

NoahA, Good talk. How is that crazy? With a $5000 account risking 3% per trade, that is only $150 per trade. That is not too bad. If I am trading bad, I scale down to 2% per trade. I lose 3 times in a roll, I stop trading for the day. When you are day trading about 2-7 trades per day for long...

Hello IamTheCasino, Yes, you are exactly right. My account is $5000 and I am risking 3% of my account balance for every trade, this is much better. Correct, I am not risking $150 for every trade, that will vary depending on capital size and risk amount. If I am not trading well (i.e., 5...

Thanks Overnight for the suggestion. Yes, I was forcing myself to risk too much with that ES and causing me hesitation on pulling trigger on trades. I will always keep my risk per trade at 2 or 3% of my account balance for MES. I got something for that MES below next week.

Hello NoahA and thanks for responding. Great conversation. I agree with you. My risk vary per trade, it is not fixed. I am moving trading operations over to MES, instead of ES for now. And I will only risk max of 3% of account balance. My account balance is $5000. So on Tuesday my risk...

Yes, I like the high probability wins. Makes me feel good after the win. And getting alot of wins in a roll gives the confidence.

Yes, that ES risk is just too big right now. Last week, I took a $500 loss on 2 trades. I was able to keep on scalping and recover. If I was trading the MES, that loss could have been $150 (3 contracts) which is an amount I am comfortable with. I'll have to return to ES when ranges reduce some...

Yes NoahA, that is correct. Everyone trades differently. I am definitely trading Micro ES once my money gets transferred to broker next week. ES trading ranges are too large, the loss hit account too hard. yes, that one day loss was some over trading. Yes, so far so good with the scalping...

Hello NoahA, I like the conversation. Yes, that scalping has high win rate. I had like 16 winning day straight on scalping out of trades. One day I got carried away and gave back some profits over trading too. That ES whip my ass one day. On that big bar short, I was not looking at risk or...