ES Journal Archive (2011)
- Thread starter Buy1Sell2
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Are any of you guys trading all in or all out with 20 lots or more?
I'm kind of stuck in the 3 to 5 lot range...not financially, psychologically!
I'm kind of stuck in the 3 to 5 lot range...not financially, psychologically!
i'm still on the sim trader
Nothing wrong with that at all.
In my mind I always think gee a 1 point net day would be fantastic at 20 cars. However, I take losses in order to achieve that 1 pt. Sometimes 2 stop outs in a row before hitting a winner.
Those losses scare the shit out of me on 20 lots!
Luckily my first today was a winner but that happens less then 50%.
Triangulating here on the 1-minute.
Looking at the swings, we are printing consecutive higher lows.
Hopefully we can see a nice move by end of day. For some reason, I`m less hopeful about the gap fill above at this point.
Looking at the swings, we are printing consecutive higher lows.
Hopefully we can see a nice move by end of day. For some reason, I`m less hopeful about the gap fill above at this point.
The new 50% is now at 43.
I would guess that is the first step below.
I would guess that is the first step below.
With the uncertainty about Greece over the weekend, I wonder if we could see some real selling into the close?
I don`t trade from such reasoning though as it usually gets very expensive.
I don`t trade from such reasoning though as it usually gets very expensive.
(I don't trade lots of 20s)
Fix your size at 3 cars.
Determine a % increase in your equity that will trigger adding 1 car.
When you reach it trade with 4. If you go below x equity, you reduce one car. If you go above y, you add one car.
Rinse. Repeat.
Going from 1 to 2 and from 2 to 3 is hardest. 3 to 5 still hard. Then it gets much easier. 1 to 2: 100% increase in P&L. 2 to 3: 50% increase... 5 to 6: 20%... 10 to 11: 10%, etc.
Once you go past a high number of cars (not there yet myself
), simply go for a parallel increase/decrease % of cars as percentage of equity. I.e. When my trading equity increases/decreases 10%, I will add/reduce 10% contracts.And always make sure you take some off the table.
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Anyone with half a brain (or more
) should start there. Some of us started with more because we could... and ended up trading with one car. There's no shame in starting at the beginning.very important, someday my account size was > 80k. today i am < 10k.....don't worry that thing happened some time back when i was extremely new.
I have noted that taking out some money every month is pretty useful to protect your increasing wealth from both some blackswan event as well as system failures and your own idiocy!
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