$2,000 to $200,000 in 2020 at 2.00% per day.

[Overnight]

...
3) Trade only the first two hours of the US session where the high volume gives some momentum...

I disagree with this vehemently. Volume is not required for momentum. The last two hours of the US session can have just as much momentum as the first two hours. Just depends on the day. In fact, on the NQ at least, the after-lunch hours session tends to have a more steady trend than the pre-lunch session.

Lots of crazy action before lunch, but then a slow and steady march up or down into the close after the martini lunch hours. .

 

[sstheo]

$41 net yesterday. It was a mostly inside day at the all time high. It felt very risky, especially right before a 3-day weekend with the corona virus reporting being inconsistent and alarming. I was less aggressive, earning 1.2% on the initial balance of the day.

If I make $75 more, then I will be able to trade 7 concurrent micros. ($3,500/$500 per micro = 7 contracts.) This "positive feedback loop" based on a few decent trades each day is getting pretty exciting now. The balance is growing > the number of permitted contracts is increasing > the balance grows even faster.

It is kind of funny, but when I first put the 1%, 2%, and 3% target lines on my chart (with only a few days showing) I thought the lines were straight. Even though I am decent with math and I know all about exponential growth, it didn't occur to me until I added another projected week that the angle increases slightly each day. The epiphany was energizing.

 

[sstheo]

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 help me become a better trader, but I love having you all along with me on my journey, and hope you get something too.

I would say the "acorn to oak tree" concept is the perfect analogy.

I may create some controversy by fulling illustrating my goal here. I have resisted up to this point for obvious reasons. But the time is right. Is this really doable? Heck, I don't know! But I aim to find out. I am 4 weeks into this and I am only trading 1 or 2 micros per position. So the potential upside is huge.

Acorn to Oak Tree​

The seed

Germination, root formation, and sprouting

Love this pic of the roots and start

Little sapling

Getting going

The goal: MASSIVE.

And the big picture (my favorite pic):

And here is the 2% line chart to bring this analogy full circle.

In 231 trading days at 2% per day, I plan on crossing the $200,000 line.

 

[Sekiyo]

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 help me become a better trader, but I love having you all along with me on my journey, and hope you get something too.

I would say the "acorn to oak tree" concept is the perfect analogy.

Acorn to Oak Tree​

The seed

Germination, root formation, and sprouting

Love this pic of the roots and start
View attachment 219423

Little sapling

Getting going

The goal: MASSIVE.

And the big picture (my favorite pic):

And here is the 2% line chart to bring this analogy full circle.

In 231 trading days at 2% per day, I plan on crossing the $200,000 line.

View attachment 219433

Good Luck

 

[Damanuelman]

Ay man it looks like you've broken through a very important milestone. Keep up the great work.

 

[Micro MadMan]

Steve you're an animal! Are you really making around 70 a day only trading one micro a day? That is equivalent to 700 on a full!

I like your idea and approach, I think you're using micros to condition your mind and behavior to a suitable and sustainable trading approach. Rewiring your brain in a sense cor iron clad discipline.

I think you re going to do this and be successful you're attitude is great and your system seems to have survived variable conditions except a bear market of course.

 

[Overnight]

...($3,500/$500 per micro = 7 contracts.) This "positive feedback loop" based on a few decent trades each day is getting pretty exciting now. The balance is growing > the number of permitted contracts is increasing > the balance grows even faster...

Max lever is a BAD idea. Don't do it.

 

[sstheo]

Steve you're an animal! Are you really making around 70 a day only trading one micro a day? That is equivalent to 700 on a full!

I like your idea and approach, I think you're using micros to condition your mind and behavior to a suitable and sustainable trading approach. Rewiring your brain in a sense cor iron clad discipline.

I think you re going to do this and be successful you're attitude is great and your system seems to have survived variable conditions except a bear market of course.

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 think you're using micros to condition your mind and behavior to a suitable and sustainable trading approach. Rewiring your brain in a sense cor iron clad discipline." YES. YES. YES. This is what I have been trying to convey. You got it. And this is the ONLY reason I think I can make this work. Most traders leverage up way to fast and then wonder why they choke. I think they are not mentally prepared for the size.

Thanks for your encouragement.

And let's see how I do in a down market (if we ever get one). Historically I do even better in down markets, but I have gotten very little practice in the last 3 years!!!

 

[sstheo]

Max lever is a BAD idea. Don't do it.

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.

 

[Seaweed]

And let's see how I do in a down market (if we ever get one).

In down markets, there are often violent spikes that go up. In fact, I find its quite difficult to hold trades if you're short because some of the retraces are huge. I looked at some of the big red days before I wrote this post, and I see how many opportunities there are to go long, and also how often the first hour is hardly a nice, smooth, controlled selling off. Often times the big dump comes in the afternoon.

So trading bear markets isn't really that easy from a day trading perspective if your general thesis is to short. In fact, for short term trading, lets say 5-20 minutes, it really doesn't matter if its a bull or bear market in my opinion. Your shorts will often get killed by a temporary rally, and there are many places to go long.