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Path-dependent exotic options sound pretty exotic indeed. I hadn't heard of them before and just checked it out. Congrats on your associate's 200M+ Eur. Wow. If what you say is true about a $100k threshold for futures, then if/when I get there, it will be time for me to check out the...

Hey! Today is my one month anniversary for this journal. Time to call a truce. Let's start fresh tomorrow and all trade a little bit better going forward.

So well said. If someone came to me and asked me if they should try trading, I would honestly say "Run away and don't look back" for all the reasons you mention. Did you guys see this? Online Trader Academy is being investigated...

I work in a narrow market niche working mainly with investors, and my income is inconsistent. So while the income is decent, candidly, it is not great. Now I could spend a bunch of money on marketing and such, and get into the top 10% of agents (instead of just the top 25%), but I can't...

I appreciate @mbondiett giving a character witness. No, we don't share IP addresses ;). We have spent a lot of time in a chat room discussing trades and sharing charts. By "the real deal" he was simply saying he knows I am not here to deceive anyone about anything. He did not claim I am a...

USA President's day holiday today. Not trading. I am a momentum scalper and when the volume is lighter, there is less momentum. Remember from your physics class that momentum is "speed x mass." In trading, the corollary is "speed x volume," with the volume replacing the mass component. For...

Options are great. I used to trade options, but for whatever reason I prefer the shorter time frame of the day trades. And I prefer the tax treatment of index futures vs the reporting requirements of stock and option transactions. But I can see what you are saying about Out of The Money long...

See my previous post with a time-stamped balance screen shot. Come on man, join me, don't try to shoot me down. This business is tough enough as it is.

Great post! What is all-in/all out vs scaling in/scaling out? Am I scaling when I open a trade on a different instrument that has a high positive correlation coefficient? Maybe so. In one of my first posts I showed 4 charts with one trade open on each. So I have been transparent about my...

Good points @Overnight. I see that the "bulls" have had their challenges too. I guess the summary is that the big boys' whole objective is to make as many traders as possible be on the wrong side of the market.

To @PoopyDeek and others who are asking for additional verification of my stated results. I have a very fast style and I take a lot of trades. Because of this I have been aggregating most days and just updating my spreadsheet. But I do show the updated AMP statement account balance and even...

Thanks for the "mind over market" suggestions. Also, I just answered the scaling question with my proposed plan in another post. Having never been in scaling land before, this is uncharted territory for me.

Great question, thanks. I have been thinking about this. My original plan was to go to one E-mini at the $5k mark. But since I started this journal, I have reflected on the CME Micro contest last July: I stayed in the top 11 out of about 1400 registrants for most of the week-long contest but...

Thanks for the post. "At price X, I will be a buyer. At price Y I will be a seller. Unless one or the other is hit, I will do nothing." This is certainly the way to do it: thinking about both the bulls and bears in tandem, keeping both orientations fresh in my mind. But seriously, I really...

Thanks for the insight @Laissez Faire. I was seriously thinking the other day "How would my life be different if I had been 'trained' as a bull instead?" I think the answer is clear. I wouldn't be here writing about Micros!!! LOL. In fact, I might not be here on ET at all! I'd have $500k...

Great observations. Case in point: Last 20 min of Friday. HUGE pop on a mostly down day. If we do actually get some short days, I won't be afraid to try longs if the setups look good. One of the most interesting things I heard in the last year (and I don't remember where), was that a study...

Anyway you want to write it I guess. From day one, I allocated $500 per micro. I said I would start out being able to trade just 4 micros with my initial $2000 balance, but then add one micro for each additional $500 that I added to the balance. Now when I get to $3,500 (hopefully next week)...

I was saying 7 micro contracts on a $3,500 account. This is only 1/10 of the max possible which would be 7 full E-minis.

Yes, I really am making about $70 a day at this time trading mostly single micros (some doubles now). I take about 10 to 20 trades per session. I am allowed to take 6 concurrent maximum trades. (for now). I use a $20 max stop per contract traded. I average about 8 to 18 ticks per trade. "I...

As I have said before, slow consistent growth is my goal. In fact, I would say that this is the dominant theme of this journal and the one thing I want to drive home to everyone who might read this. Of course when I point at you, I have three fingers pointing at myself. This journal is to...