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

[sstheo]

DANG. I got jerked around several times today like most people probably did. Despite many good early trades, I ended negative. The YM was down over 6% AGAIN. Whodathunk it? WOW. I am probably down $120, but I am still alive. I will have the final tally tonight.

 

[Micro MadMan]

I was so bearish today and still lost money that's how bad the whipsaw was. Ironically if I just held and followed my edge I would have well.

Psychology for discretionary traders is almost everything.

 

[Sekiyo]

I was so bearish today and still lost money that's how bad the whipsaw was. Ironically if I just held and followed my edge I would have well.

Psychology for discretionary traders is almost everything.

Against your inner devil what can be done is to set up your trade and leave ... Set entry, TP, SL. And live your life.

 

[sstheo]

I was so bearish today and still lost money that's how bad the whipsaw was. Ironically if I just held and followed my edge I would have well.

Psychology for discretionary traders is almost everything.

Sorry Dude. I was thinking down too, but not enough. I had some great shorts, but didn't hold, as you saw from the screen shots. This market is messing with my head for sure. I expected the rally much sooner today.

@Sekiyo has an interesting idea there, one that I use sometimes. Set and forget!

 

[Sekiyo]

Sorry Dude. I was thinking down too, but not enough. I had some great shorts, but didn't hold, as you saw from the screen shots. This market is messing with my head for sure. I expected the rally much sooner today.

@Sekiyo has an interesting idea there, one that I use sometimes. Set and forget!

Last Friday I did it.
Set my orders in the morning.
Finally I daily trade and do stupid things.
When if I haven’t touched I’d have won big lmao

 

[.sigma]

Just yesterday I wrote that 260 people had been infected with coronavirus in the US. Today it is 346. ONE DAY. Brace yourselves everyone. If all else fails, TRADING from home should be a great way to keep the income going.

Second, the compounding effect is in full force here... and it's pretty scary. In a twisted way, I want my account to compound like this. It started small and ....

Okay, so going by your number of 346, that's about 0.000001% of the U.S population..

Idk if "brace" is the correct term here sstheo lol

 

[.sigma]

You've brought up THE critical point... It's psychological! It transcends "risk management". As a futures trader, when I have an open position yielding $50 PER TICK, for me or against me, I get anxious... premature exits, and cutting loss too quickly. I'm not referring to volatility or velocity, merely the psychological effects of the PER TICK VALUE of an open trade. If I "wanted", my account size could support an even larger position.

As I've stated to the OP before... he is not doing himself any favors by not at least incrementally increasing size, within the account value parameters he has defined. What better opportunity to deal with the critical psychology then with micro contracts. Adding 1 contract in volatile periods would be very useful...

Meanwhile, the OP refers to trading more than a single MICRO as "a feat".

Seems like you're either trading a product too big for your mentation and need to reduce your risk. Yes, you could support an even larger position but what would this cause to your mental?

And I agree micro contracts are great for training your psych before moving onto the E-mini's.

I just don't understand why you get anxious knowing damn well each tick is $50. This shouldn't change your order/exit either. I'm not trying to lecture you as I'm sure youre probably a better trader than I, I just think you may be overthinking this.

 

[sstheo]

Okay, so going by your number of 346, that's about 0.000001% of the U.S population..

Idk if "brace" is the correct term here sstheo lol

The World Health Organization just made it official. This is a Pandemic. https://moneyandmarkets.com/?p=1934...dium=Email&utm_campaign=Daily-Article-Traffic

The USA now has this many official infections

 

[tiddlywinks]

Seems like you're either trading a product too big for your mentation and need to reduce your risk. Yes, you could support an even larger position but what would this cause to your mental?

And I agree micro contracts are great for training your psych before moving onto the E-mini's.

I just don't understand why you get anxious knowing damn well each tick is $50. This shouldn't change your order/exit either. I'm not trying to lecture you as I'm sure youre probably a better trader than I, I just think you may be overthinking this.

No overthink... when I have a position on that is moving @ the speed of $50 per tick increment I get anxious. Your point however, is correct... the money should not affect the trade...

and my point in mentioning this to the OP was ... his mental state is a total unknown if/when he ever decides to move from 1 contract to 2 contracts and up. He consistently reminds the board that per his rules, his account value currently supports 8 or whatever the current number of contracts is, as well as how "if it was a mini" it would be 10x the amount. But IRL, the OP can't or won't move from 1 micro to 2 micro. Volatility can be a shady thing too.

This is all I have to say on the topic as this is not my journal.

Good trading to y'all.
Dog days of Summer aren't far-off. Bank while the banking is amazing!!!

 

[Laissez Faire]

I don't get it. Normally, people are discouraged from taking on too much risk. Now, people are trying to encourage the OP to take more risk?

I believe the OP said he was down $120 today trading one micro. And no worries about that @sstheo. It happens.

If he had traded 8 micros - he would be down 960 dollars; approximately 25 % of his account.

As long as @sstheo is growing his account, he's doing perfectly fine. And staying small seems like the smart move here.

When the volatility eventually slows down or the equity is larger, then it's time to start sizing up.