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The action today continued to be volcanic: Hot, smokey, smelly, flowing downhill, destructive, unpredictable, and ultimately explosive. Today I was down and up and down and finally ended up about $50 I think. (I will know late tonight.) I am still on one micro contract per trade because of...

The spread on the MYM (micro dow) and MNQ are very similar to the NQ and YM. I saw 3 to 5 ticks today between the bid and ask. Normally it is 1. I will check out the MES, because I see that the ES appears normal with 1 tick. Great thinking!

I think you are being sarcastic about my $50 intra-day drawdown. I wish that could always be the max extent of the DD, LOL!!!

If this volatility keeps up, I will keep trading with just one micro at a time. As long as I can meet my daily 2% goal with just one micro, then I will trade just one. The risk with three or even two micro contracts is just too high. This trading is fast and furious. I love it like this...

I recovered the early losses, and am up over $50 now. Here are 4 short MYM trades near the high of the day (so far). Thank heavens for the micros. The spreads are HUGE today, but most of my winning trades are limit in - limit out, so it is working for me. With my losses, it is GET OUT NOW!

The highs last night looked fishy to me. Indeed it was all smoke and mirrors: This is a nutty market, and I need to be more careful and more patient. Why? I tried some "oversold" longs this morning and got creamed. Fortunately I was using just one micro. I am down ~$48 to start the...

I missed the $4,000 mark by $6.49 to end the day at $3,993.51. Oh well. Tomorrow is a new day. Today was another day for the history books. I read it was the 2nd largest ever DJIA rise. Because of the early apparent volatility, I only took single micro trades again--29 of them. At $92...

@Micro MadMan Great question! You are making me think about BIG things... LOL. I would (will?) probably take out $100,000 and keep going at 2% per day. Rinse, Repeat. Or I will just scale back to 1% and take it slowly to $300,000. OR just do as you suggest and find my best size and...

I agree that 2% is unsustainable once we run into to liquidity issues. And the plan is not to get there; I will stop with the goal once (or rather IF) I get to $200k at the end of the year.

I could not have written it any better myself. Perfect. Thanks.

Fun stuff! I think I just crossed the $4,000 mark. I will know for sure when the statement comes out tonight.

I agree with you @monet but he was referencing my previous comment about possibly not being able to keep up with the 3% curve. Indeed the 2% curve will also get steeper, but if I add contracts as the account grows, I really should be able to keep up just fine. This 2% line is what the...

$151 net yesterday in 14 contracts = $10.80 average per contract traded or 21 ticks per trade. Volatility is still extra ordinarily high, and my trades were all single micros yesterday. Here is my global progress update: That "3% maybe" target line is getting pretty steep pretty fast...

I really do like the idea. I know I could easily go to the E-minis right now at $3,800, but I am trying to set a repeatable and gradually expanding psychological margin of error. Thanks. And yes, I hate the extra commissions, but if all goes well and I stay on the 2% path, then I will be to...

25 micro contracts traded today. $231.00 gross profit - 19.50 comm and fees = $8.46 per contract or 17 ticks average per contract traded. WOW, what volatility! Did we has as big an up day today as we did a down day on Thursday? It certainly looked like it. With as fast as things were...

Apparently Jerome Powell said this on Friday, and so it wasn't just a rumor. "“The Federal Reserve is closely monitoring developments and their implications for the economic outlook. We will use our tools and act as appropriate to support the economy.” Is this a cut? It is not. Will a rate...

Your treatise on volatility is amazing. Thanks. Indeed I did have a bad initial part of the day Friday, but I survived, thanks to the late day rally on Friday. (Apparently from a leaked Goldman Sachs memo saying the Fed will cut rates .50%, as if they know). My trading really sucked this...

I had to do limit orders today on both ends today on the MNQ it was moving so fast. I did a market order entry and exit, and my loss was huge. I almost stopped trading because of the speed, but with the limit order I did okay.

CRAAAAZZZEEEY days this week, that's for sure. I didn't catch the short on the biggest one day point drop in history -- yesterday -- infamously losing 137 S&P points. This is from Wickipedia: FYI, the biggest one day percent drop was 20% in 1987. (Imagine that...) We got a nice bottom...

The latest explanation I read for the waterfall decline is that the BANKS have billions of $ in derivatives that are starting to go sour. This was a big catalyst in the 2008 recession. I guess they didn't learn their lesson...