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I need to devise a trading plan. I don't have one on paper just a vague one in my mind. I'm going to start writing a daily journal as well. Thanks a lot.

I never looked at it that way. On retrospect I thank you so much for caring. I'm above $10,000 now. as I make more and more money the risk diminishes since I am staying at 6-lots. I will not trade bigger than 6-lots until I get above $28,000. I really do appreciate your concern. Thanks

I just want to survive at this point. I'll be a big swinging dick at some point but this is most def not the time!

Why do you want me to fail? I feel like a lamb amongst wolves here.

I'm so tempted to start trading bigger size. This is where the discipline comes in. I told myself I won't trade bigger size until I get back up to $20,000. I'll let you guys know how things turn out.

statistical odds (at least according to TraderDragon) notwithstanding, I am up $625.00 today on 24 contracts. at $1.92 per RT that's only $46 bucks in commissions. I'm so happy things seem to be going well now. I trade 6 lots and cut my losses at 2 half ticks and let my profits ride for 7-10...

You still don't get it. Every trade a trader makes is a gamble. Not realizing that, you obviously don't belong in this game!! Nonetheless, I wish you luck in whatever it is you do eventually wind up doing. Thanks

Thanks

Thank you so much for this wonderful information. This is truly a great post. I've included some of my own comments below after each RULE in case you are interested. Thanks LTCM had the same problem that I have: they were using too much leverage and they were not flexible in even...

I've noticed that some of my worst days seem to creep up just after some of my best days. Obviously, success on a single day affects my performance on the next day. I understand what you mean though; why stop a positive streak. Thanks

up $640 today on 18 contracts. Thank god

I came off a great up day and so I decided to wait a few days before I got in again. Thanks

You are right about that. BTW, I didn't trade yesterday or Thursday.

I know that it is possible for me to be wiped out in a day. I am averaging into every position I enter into 2 lots at a time.

i'm scared to trade today...lol

I'm not trading 42 contracts a pop. That's for the whole day

Thanks a lot for the positive comment. There's no such thing as easy money. I'm struggling each and every day to be green. I'm trading on the brink and know that disaster can come in a single day.

Looks like I'm back on track. Made $1,781.25 today on 42 contracts. I'm at $9500 again. Things are looking good.

Now, there are your own words, TraderDragon. You made these comments not me. So with a $200k account making $363 per day is ASTRONOMICAL, in your estimations. This leads me to logically assume that you make nowhere near that ASTRONOMICAL amount since you "can't possibly compete with fund...

I do call trading my career. Suppose I take $30,000 to open a deli or something. Let's say after the first year I've lost $23,000 due to a lack of business. Do i then say I am not a deli owner? I am a trader; that is my career. My mistake was with cutting losses and trading too big size...