From 1k to 500k (Deadline: 2017)

[K-Pia]

Well, the problem you have to overcome is margin, some of the time it might be $500 at some brokers and other time due to high volatility it can be raised to $3500, and should you be in a trade where all of a sudden margin is raised and you are over margin, they can liquidate your position. Some brokers have much higher margins. So if it is $500, ten lot you will need $5,000 and one dollar below, broker will liquidate part or all of your position and could lock you out for so many days till you call them. So after one week and no losses or making less than $100, beginning of second week you can trade two lot. You have discussed your goal you seek, but nothing on having max losses, cause every loss can/will have affect on contract size.
Too many too often think in terms of gains, how about thinking in terms of losing, and is the $100 goal, is this net?

Ok. At AMP it's currently 400$ intraday margin for the ES.
But my "divisor" is 2500$. So it's 6 times the margin.
10 lot would be traded with 25k, not 4000$.
So it shouldn't be a problem. But thanks.

2 points net yes. In average per day.
Or 40 per month. I target 320 points by 2017.
Net.

I'll adjust my size dynamically, trade after trade.
I'll divide my capital by 2500 and trade the quotient.
But min is 1 then once 5K is reached then 2 contracts.
And no more than 200 I guess because of the slippage.
Or I'll have to build up a la Livermore. Add to winners.

But no max loss defined. If I see a setup I'll try to ride it.
However if I make mistakes over mistakes... I'll take a break. Demo trade.
I'll stop definitely and reflect if the monte carlo's lower bound turns North.

 

[K-Pia]

I just realized that I made 37% of my objective in one month in Sim.
A bit more than one third. I've made 119 points over 320.
But it's only demo ... I know. Let's turn it real !
So I averaged "5 points per day" ...

Well I am not here to talk demo account.
So I'll shut my mouth. Stop posting if not to answer.
During the next two weeks. You can follow if you want updates.
Feel free to share advices, notice flaws ... Ask questions if you like.

 

[OptionGuru]

Going to start in April.

Why wait until April, why not start NOW?

 

[Handle123]

I just realized that I made 37% of my objective in one month in Sim.
A bit more than one third. I've made 119 points over 320.
But it's only demo ... I know. Let's turn it real !
So I averaged "5 points per day" ...

Well I am not here to talk demo account.
So I'll shut my mouth. Stop posting if not to answer.
During the next two weeks. You can follow if you want updates.
Feel free to share advices, notice flaws ... Ask questions if you like.

If you going to trade, you want to get as many days in before April 15th, as after Indexes not so active cause people not putting n huge chunks into retirement accounts. I usually doing all my back testing on June contract as I have always found it is toughest to trade of the four.

And if you want to net $100, you going to have to make more than $100.

 

[Cyse]

Lol, I read the title and laughed. Then I read a few of the first posts and laughed even more.

As a beginner myself, a thread like this is quite dangerous as it might lead to unreal expectations for myself. Either way though, good luck... i'll look forward to reading some of your journal entries.

 

[K-Pia]

Why wait until April, why not start NOW?

Mainly because of my internet connection.
But it's going to be fixed by April.
I have a really shitty one ...

Hey, you're really impatient to see me blown away !

If you going to trade, you want to get as many days in before April 15th, as after Indexes not so active cause people not putting huge chunks into retirement accounts. I usually doing all my back testing on June contract as I have always found it is toughest to trade of the four.

And if you want to net $100, you going to have to make more than $100.

Sure, if I want 2 points net I have to shoot for more.
Or I could simply achieve a P(Gain)= 1.
Still pondering about that ...
Kiddin '

Damn ... I have never really traded during summer ..
But I knew that the activity slows down ...
When does it come back ? September ?
So I'll be twice as vigilant in June ! =P
If only I am still "alive" since there.
DO NOT OVER TRADE ...
To react to Noise.
Over sensitive.
I'll stick it.

Thanks !

Lol, I read the title and laughed. Then I read a few of the first posts and laughed even more.

As a beginner myself, a thread like this is quite dangerous as it might lead to unreal expectations for myself. Either way though, good luck... i'll look forward to reading some of your journal entries.

Glad to know that the thread has its value.
Dreams and expectations are not the same thing.
Keep your foot down to earth and you can dream about anything.
If you make your own experience. You know what's about to be expected.

However I am not the first to try. To set the level this high.
Plenty of similar thread just turned sour out there.
Don't even need uncommon goal to fail.

I may be lying to myself in expecting I can achieve it.
But from my experience it's doable ... One has to try to find it out.
That's my goal. But I could miserably fail. Or break even. Or make far less.
Thanks for your support. Wish you the best in your journey through Enlightenment !

Impossible n'est pas français.
It means, that there ain't a word in french that means "impossible".
Because for us everything's possible ! Actually ... We've got that exactly same word.


Ps: I was surprised to be acknowledged that AMP (by default) provide no insurance at all, in the funds, against an eventual bankruptcy of the bank. (Deutsche Bank)

 

[Turveyd]

Don't worry the odds on breaking even are very very low

If you fail, account $380 say, could you afford to top up back to $1000 a few times, in the hope of a good start.

Think monthly, back to sim, get paid put it at risk.

 

[K-Pia]

Don't worry the odds on breaking even are very very low

If you fail, account $380 say, could you afford to top up back to $1000 a few times, in the hope of a good start.

Think monthly, back to sim, get paid put it at risk.

Unfortunately if my account fall bellow 400$, my journal ends there.
No more funds left to bail it up. So it's a hit or miss until ... The next trial.
As a want to be speculator. I don't stop learning about good and bad practices.
With hindsight, I see how miserable I was when I failed last time. That's good.
To be able to tell "What a ridiculous speculator I used to be !". It's progress.
So if I ought to fail. I will, then I'll demo and continue to learn.
Until I see how obvious my failure was. Since then,
I would have saved "enough" to give it a new try.

Odds of breaking even are still higher than the odds of making it =P
Isn't it ?

 

[K-Pia]

Odds of breaking even are still higher than the odds of making it =P
Isn't it ?

It's true from a collective point of view.
But it's an ecological fallacy to talk about an individual,
In terms of the collective. Card counters differ from the aggregate.
One has to evaluate its odds in accordance with it's system expectancy.
95% of traders just don't have a viable strategy. But some may have one.

 

[Turveyd]

Unfortunately if my account fall bellow 400$, my journal ends there.
No more funds left to bail it up. So it's a hit or miss until ... The next trial.
As a want to be speculator. I don't stop learning about good and bad practices.
With hindsight, I see how miserable I was when I failed last time. That's good.
To be able to tell "What a ridiculous speculator I used to be !". It's progress.
So if I ought to fail. I will, then I'll demo and continue to learn.
Until I see how obvious my failure was. Since then,
I would have saved "enough" to give it a new try.

Odds of breaking even are still higher than the odds of making it =P
Isn't it ?

Ecks thats pressure dude.

No the odds after multiple trades of you account still being $1000.00 exactly are millions to 1