Quote from tango29:
I'm going to try something different. I am going to have an extra account where I start with $15000 and see if I can grow it at 1% a day. I'm going to stick to round numbers for the most part, as in if I am at 15750 acct size I'll take $150 net as equating close enough to 1% for the day. Then at $16000 I'll bump up to $160, and so on. I'll start with 2 contracts of the es, nq, bonds, or whatever works for the day. If I grow the account, I'll add a contract at $1000 net, new total + $2000, new total + $4000, etc. So if all goes well add at $16000, $18000, $22000, etc. If this can get up to 10 contracts, I'll reevaluate at that time. I will also reduce a contract if I dip $2000.
My methods are based on price, support and resistance, and trend. I normally fix a target for the 1st contract, and trail the 2nd, and I am at this point going to stick with this as opposed to getting out as soon as 1% net is made. As size grows I may use extra contracts to lock in the goal and then trail whats left. I'll try to post as soon as I hit goal, but I am trading throughout the day, so if busy it will wait. I will at least try to post times of entries and exits with the prices.
Why? Because I want to try something different. I followed Ryan Jones for a bit and am using and offshoot of his Money management. I never have seen him make it back to the top of the trading competitions he enters, so my guess is something is flawed with his MM, or his methods(or both). In the past after all the regular head games involved in trading I found moving to the next contract to be very difficult, and haphazard. I still see a hurdle at around 10 contracts if this works for whatever reason, but am going to give it a go.
Why post? Why not, if people don't want it ask the moderator to kick me out :eek: Otherwise I'll start posting them tommorow.
See ya Monday.