$286 left

OK, made 14 trades, lost $53, now only 217 left.

I really wanted to call it a day after the first 4 trades (all win), it would be perfect to stop trading with a $31 profit. Unfortunately I didn't, I turned into gambling mode after I had a losing trade, and traded until the bell rang.

1. Don't trade if I don't understand what the marketing is doing.
2. Stop trading before 2PM.
3. Never turned $30 profit into a loss.
4. Never move my stop loss bigger.
 
hurricane_sh said:
OK, made 14 trades, lost $53, now only 217 left.

I really wanted to call it a day after the first 4 trades (all win), it would be perfect to stop trading with a $31 profit. Unfortunately I didn't, I turned into gambling mode after I had a losing trade, and traded until the bell rang.

1. Don't trade if I don't understand what the marketing is doing.
2. Stop trading before 2PM.
3. Never turned $30 profit into a loss.
4. Never move my stop loss bigger.
More...
Can you show where you got in and out?
 
hurricane_sh said:
OK, made 14 trades, lost $53, now only 217 left.

I really wanted to call it a day after the first 4 trades (all win), it would be perfect to stop trading with a $31 profit. Unfortunately I didn't, I turned into gambling mode after I had a losing trade, and traded until the bell rang.

1. Don't trade if I don't understand what the marketing is doing.
2. Stop trading before 2PM.
3. Never turned $30 profit into a loss.
4. Never move my stop loss bigger.
More...

I don’t believe you’ve burnt 26k multiple times and that you’re still struggling with 101s.

Good luck buddy
You’ll make it ultimately.
 
I'm calling it a day, morning session is very structured, it becomes foggy in the afternoon to me.

Made 7 trades, 6 win 1 loss, $56 profit, recouped yesterday's loss. With such a tiny account, I was too scared of losing and missed many trades. I wish I could afford to have a runner.

Current balance: $273

20200417.jpg


1. tiny scalper (5 ticks profit target, 8 ticks stop loss), my first trade is so important, and it's a loser!!

2. Normal trade (17 ticks PT, 16 ticks SL, I adjust accordingly after enter the market). It's such a good setup, even it means I would have to stop trading if this turned out to be a loser, I still got in only two minutes after my first losing trade. I got greedy and didn't get out for a $40 profit.

3. Scalper (10 ticks PT, 16 ticks SL).

4. Scalper, I got nervous and got out before it hit my PT.

5. Scalper

6. Tiny scalper, I want to protect my profit.

7. Tiny scalper, I extended my PT to have a positive week.

I'm up $1 this week, but I strongly feel that it's the watershed week of my trading career. If I blow up this account (which is very likely), I will fund another one, with MES, $1K is enough, can't believe I burned so many huge accounts...
 
hurricane_sh said:
I'm calling it a day, morning session is very structured, it becomes foggy in the afternoon to me.

Made 7 trades, 6 win 1 loss, $56 profit, recouped yesterday's loss. With such a tiny account, I was too scared of losing and missed many trades. I wish I could afford to have a runner.

Current balance: $273

View attachment 225305

1. tiny scalper (5 ticks profit target, 8 ticks stop loss), my first trade is so important, and it's a loser!!

2. Normal trade (17 ticks PT, 16 ticks SL, I adjust accordingly after enter the market). It's such a good setup, even it means I would have to stop trading if this turned out to be a loser, I still got in only two minutes after my first losing trade. I got greedy and didn't get out for a $40 profit.

3. Scalper (10 ticks PT, 16 ticks SL).

4. Scalper, I got nervous and got out before it hit my PT.

5. Scalper

6. Tiny scalper, I want to protect my profit.

7. Tiny scalper, I extended my PT to have a positive week.

I'm up $1 this week, but I strongly feel that it's the watershed week of my trading career. If I blow up this account (which is very likely), I will fund another one, with MES, $1K is enough, can't believe I burned so many huge accounts...
More...


That is an impressive 25% gain in one day.
Here is an intriguing scenario:
Look at it in this way, if you have a 1K account, and trade in the way you did today, and let say, to gain 25% one week (not one day), just pick a day with strong trend, not trade every day, then after 8 months (compound only every month), your $1000 grows into a million. Is it possible? probably if you can trade with huge discipline.
 
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Are you kidding.
My friend, get some money and gain. In your case I would buy oversold but nice stocks and wait for a few weeks, just relax do not do option trades for a while. You will make some nice $$$ money. What you will do with your few hundred.
I doubt you won’t make even 1000 from 250 you have 50/50 one wrong step and you done.
I’m sorry for the telling truth.
 
I'm up $2047.50 today. I'm done for the day. Just scalping equities. You gotta learn from your mistakes. It looks like you are not learning from your mistakes thus blowing account after account and still making the same mistakes.

The reason I know this is that I USED TO BE LIKE YOU! Hopefully this will give hope to all the losing struggling daytraders on ET. Yes, it's possible to make $1k-$2K or even more per day daytrading on an account not that much bigger than what PDT requires.

I just withdraw the $2K from my account. Ka-ching. Yes, I could keep it in there and let it compound. But I like to withdraw and pay myself. It's a good feeling. Also, nice spending money too.

Too many people behave the same damn way every time year after year after year and don't learn from their mistakes. I was in the same boat until something clicked and change.

I had 100% win rate today. Not everyday is like that. Net positive all week this week. Not every week will be like this. But to show you what's possible if you really apply yourself and study and learn from your mistakes!

Happy Friday!
 
trader99 said:
I'm up $2047.50 today. I'm done for the day. Just scalping equities. You gotta learn from your mistakes. It looks like you are not learning from your mistakes thus blowing account after account and still making the same mistakes.

The reason I know this is that I USED TO BE LIKE YOU! Hopefully this will give hope to all the losing struggling daytraders on ET. Yes, it's possible to make $1k-$2K or even more per day daytrading on an account not that much bigger than what PDT requires.

I just withdraw the $2K from my account. Ka-ching. Yes, I could keep it in there and let it compound. But I like to withdraw and pay myself. It's a good feeling. Also, nice spending money too.

Too many people behave the same damn way every time year after year after year and don't learn from their mistakes. I was in the same boat until something clicked and change.

I had 100% win rate today. Not everyday is like that. Net positive all week this week. Not every week will be like this. But to show you what's possible if you really apply yourself and study and learn from your mistakes!

Happy Friday!
More...
Can we see a chart with your trades?
 
jl1575 said:
That is an impressive 25% gain in one day (with a tiny account).
Here is an intriguing scenario:
Look at it in this way, if you have a 1K account, and trade in this way, let say, 25% gain one week (not one day), just pick a day with strong trend, not trade every day, then after 8 months (compound only every month), your $1000 grows into a million. Is it possible? probably if you can trade with huge discipline.
More...

Exactly.
The key is to avoid avoidable mistakes.

Why would one trade when the market isn't strong ?
Why risk 1$ to earn 1 or 2$ with a fuzzy P(win),
When one can earn 1 to 3 with a high (Pwin) ?

The stronger the market,
The greater the reward to risk,
The greater the probability of winning.

Just seat tight and wait for the best hands.
You don't need to give away money.
And you shouldn't do it neither.

The amount you don't lose is a win.
So don't lose money on stupid trades, conditions.
Wait for the best of it and get the most of it. Waiiittttt !

You don't have to operate all days, hours or minutes.
It's not your job to facilitate the market.

Your job is to Min(Risk) and Max(Reward).
Now think about it. What internals and externals foster it ?

And don't fade the f*cking trend !
I know it's human to fade a strong market.
But it's not worth the risk to fade a trend, a friend.
 
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