Man, I need to figure out how to let my profits run. I think I've got a good entry and stop placement technique (after much struggle and consternation), but I keep settling for peanuts). Some of this may be residual tick-grabbing tendency from the last few days of choppiness.
CL Redux
- Thread starter schizo
- Start date
I agree with this. I wouldn't throw the hail Mary, and especially not on the CL. It sounds like you are in a heavy self loathing stage, and will only lead to intentional sabotage and a definitely dip below 5000.
If you insist on trading live with such a small account, I would recommend switching to a gentler instrument. What about the YM? After all, it's all just price and volume, and the same thing happens on lots of different futures product out there.
In one of my past moments of weakness, I actually had a terrific 30 minute "heart to heart" with my broker. I asked him to level with me and tell me if it was even possible do make a living trading. I told him I would totally understand if it was a pipe dream, but that I wanted him to be honest. He told me that most of his successful clients started with huge accounts to begin with, and have experience going into the 8-12 year range. It makes sense that the easiest way to trade live as if it was SIM is to have account size that is so huge to begin with that it FEELS like SIM. He told me he genuinely thought I had the discipline to make it at this game, he gave me some additional pointers and sent me on my way.
Good luck, but please don't beat a dead horse. If what you are doing now doesn't work, find out why and change it!
I think I'll wait to see what the 11:00 crowd thinks.
stop moved to .22