From 1k to 500k (Deadline: 2017)

speedo · Jul 12, 2016

K-Pia said:
That's possible. Or even, Certainly !
Lower barrier to entry means more customers for brokers.
And not only for brokers ... Same with E-mini, micro contracts & Co.

A thousand dollar account in the hands of a newbie will dissipate like a fart in a hurricane.

K-Pia · Jul 12, 2016

speedo said:
A thousand dollar account in the hands of a newbie will dissipate like a fart in a hurricane.

I agree. Especially with 400$ intraday margin & 12.5$ / 25$ the tick ...

K-Pia · Jul 12, 2016

I am on my way to get 3 others Ks.
So I'll start on October with 4Ks.
Not a newbie but who knows.
Expect 50% per month ...
Or not. Let's see.

DarthSidious · Jul 12, 2016

They said "don't daytrade with less than 25k"
"It will be safe for you", they said

Edit: Just in case the sarcasm isn't clear. I am not talking about OP. Rather, how the clueless powers that be pushed a lot of undercapitalized traders towards leveraged instruments. Many people would have been better off starting with stocks in tiny sizes. Instead they are forced to jump in with futures. One lot ES is worth $100k+ of position...

K-Pia · Jul 12, 2016

DarthSidious said:
They said "don't daytrade with less than 25k"
"It will be safe for you", they said

I don't see how it's safer to lose 25K rather than 4K.
4K is way enough for me to handle drawdowns.
Account size is all about Margin & Max $DD.
My own margin is 2K. If I lose 2K straight,
It's 20/40 losing trades in a row ...
Then I'll better stop trading.

OptionGuru · Jul 12, 2016

Could you give us an update. You started with $1000, what is the account balance now?

DarthSidious · Jul 12, 2016

K-Pia said:
I don't see how it's safer to lose 25K rather than 4K.
4K is way enough for me to handle drawdowns.
Account size is all about Margin & Max $DD.
My own margin is 2K. If I lose 2K straight,
It's 20/40 losing trades in a row ...
Then I'll better stop trading.

Please see my edited post. Sorry the sarcasm (not towards you) wasn't clear

K-Pia · Jul 12, 2016

OptionGuru said:
Could you give us an update. You started with $1000, what is the account balance now?

0.

I'll launch a second venture.

K-Pia · Jul 12, 2016

DarthSidious said:
Please see my edited post. Sorry the sarcasm (not towards you) wasn't clear

No worry.
Of course it's a stupid statement. Either way.
But it's even more stupid to follow such an advice.
Uh ... They get what they deserve. Suckers are suckers.

thescalpmaster · Jul 12, 2016

K-Pia said:
Would be great to weight volatility with tick value.
The turtles have done it. ATR, dollar weighted.

Thought you were more a scalper.
Than a kind of Livermore.

Anyway !

Well, I began by scalping the markets. I had a trading name at that time.