From $10,000 to $100,000 in 6 months.

[lotto]

Why only futures, how about options or common share? Simple answer, day trading restrictions. When an account has a balance below $25,000; you are only able to have three same day trades within a 5 business day period. This restrictions apply to option trading or trading common shares. Since I tend to open and close positions in the same day quite often, I do not want to be concerned with that restriction. Trading futures also opens me up to trading commodities that have less news to trade on, etc Corn. Lastly, for a new trader, it is much simpler to trade the futures market as opposed to options that derive their value from several different factors.

I understand the enormous stupidity that is the PDT rule. But be that as it may, I think this would be far easier to do trading stock rather than futures.

My comments were not directed towards you, you already stated you were fine with advising intent. I was replying to Lotto.

We're all good - Let the Games Begin!

 

[GruTrader]

First trade taken, in NQ. Long 4 contracts at 3585.25.

Stop would be <$3580.

 

[GruTrader]

It looks like the price action is setting itself up to spring NQ over 3592. There have been multiple rejections on that level. If price begins to move above it, I might just add another two contracts to the position.

 

[xelite777]

It looks like the price action is setting itself up to spring NQ over 3592. There have been multiple rejections on that level. If price begins to move above it, I might just add another two contracts to the position.

Good morning GruTrader.

Are your take-profit levels known in advance (static) or are they dynamic and depend on price action?

 

[GruTrader]

Good morning GruTrader.

Are your take-profit levels known in advance (static) or are they dynamic and depend on price action?

Both. Right now my level to take profits would be between 3603-3605. But if price will find other levels to consolidate before there and I feel the trend is buckling, I will exit.

 

[drownpruf]

First trade taken, in NQ. Long 4 contracts at 3585.25.

Stop would be <$3580.

No edge. You're down 8%. What happened to the SL at 3580? So the stop was fiction... now we pray for a tick above your entry to bail you out?

 

[nth]

It looks like the price action is setting itself up to spring NQ over 3592. There have been multiple rejections on that level. If price begins to move above it, I might just add another two contracts to the position.

did you add more?

 

[xelite777]

Both. Right now my level to take profits would be between 3603-3605.

Hope you did take some profits at 3603.

 

[drownpruf]

Hope you did take some profits at 3603.

lol it never traded above 93.

 

[xelite777]

lol it never traded above 93.

Correct, I was looking at the wrong chart.