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That's amazing! Nice work! The biggest I ever had to go was 5x and that was early in my trading career when I didn't have the timing down that I have now. I rarely have to go over 3x nowadays.

PM me and I will talk to you more about it. I probably won't write back until tomorrow because it's getting a bit late.

My third account isn't used for futures trading, just stocks but I can trade fut's in that account. I just choose not to. The direction of both accounts are in the same direction. I will lose on my first 2 long trades, for example, in account 1. The third setup will be a better looking...

I knew I'd get responses like this. Enjoy!

In the first account you have accrued $300 in losses on the 1st 2 trades. In the second account you have accrued zero because you don't begin using that account until you get to trade number 3. In account number 1 I make $800, which offsets the $300, for a total of $500 in profit. In account...

Let's get this out of the way ahead of time: To all those who wish to bash and rant please feel free. This post is intended to help anyone who is interested in appreciating and learning the fine art of money management for trading futures. Year to date, my account is up approximately 680% and...

Risk and portfolio management are absolutely key! I used to think timing was the key -- it isn't. No one can time the market perfectly, and consistently but if you have strong risk and portfolio management skills timing isn't as important.

Thanks Everyone!

Exactly!

I took a market analysis statistics class a couple of years ago (very interesting class but hard as nails) and the conclusion we came to at the end of the semester was that statistical analysis doesn't work on the stock market because of unit root (I can't recall what this means) and...

Can anyone recommend a commodity contract that has enough liquidity to day trade actively. I currently trade the Index Futures and I'd like to study commodities for a while to see if there are any opps that come up while I'm waiting for setups on the Indexes. TIA.

I get this ALL the time. I get nothing but resentment and in the second breathe I usually get, "Will you trade my money?" It's pretty funny, "I hate you but I will love you if you make me that kind of money."

There are a few non-blowhards but not many. Most people who post on this site either have very large ego's or they are downright pissed at the market. Not the best message board to hang out at, imo. It will probably take less than 3 min's for someone to rip into this post. Tick, tick, tick....

I definitely agree with this! Get a job working 2nd shift and spend at least a month on a simulator -- more months is better.

I trade the ES full time and I will answer your question without ripping into you.

Early in my career one of the biggest mistakes I made was trading my P/L. I left so much money on the table it wasn't even funny. Trade the charts, not your P/L.

Great post!

I agree that it's never so simple. Trading is the hardest thing anyone could ever imagine trying to conquer but the thing - actually 2 things - that have served me the best are: Don't take big losses and take profits relentlessly.

If you made profits for a solid month then you can do it again. Just start over and trade lighter the next time you have profits.

The best trading advice I ever heard was, "Take Profits Relentlessly!"