I am bored of small wins. Would it be dumb to risk more to make it rich?

[FXtrader8911]

good job switched back to dax

The German mid-caps are +1% today, the DAX30 only +.4%, German PMI came it at 55 which is a good number (US was 51), likely the 30 will catch-up to the Mid-Caps, if so, there's 129ps for you. DAX30 still has 7% to run to get to its highs, Good luck.

PS
I'm net long DAX, CAC & FTSE, Net Short DOW & S&P

 

[TommyR]

err hello no have you ever heard of a wacky billionaire who did small trades.? noone cares about 1k a day you have got to up those numbers those are some rookie numbers in this business.

 

[Ryan81]

Assuming this isn't a troll (which might be a big assumption for this place).... Returning 35% in 6 months with a repeatable, consistent (and low risk?) strategy sounds pretty much like the holy grail to me. One would be crazy to give that up.

That said, it is probably a stretch of the imagination to assume low risk for whatever the OP's strategy is... Just going with your "gut" into long or short equity positions doesn't seem low risk to me, and not particularly an efficient use of capital.

 

[monee]

Indeed I've done it, though I had the holy grail of all strategies and could do no wrong so scalled and kept scaling... then 24Aug15 came along and Puff, 2 years of profits and more gone in 20 minutes. You are either a newbie to trading still in the beginner's luck phase or just posting to boast because no-one can be consistent in all market conditions, if you think you are, then you haven't been in the game long enough to experience all market conditions.

Scaling can work until it doesn't, a black swan happens and markets turn on a dime, if you are in heavy, you loose heavy. 24Aug15 tough me to deploy only 10% of the capital, if your capital is $400k then deploy $40k but do it with diversification rather than just scaling. Scale only the positions that have a better risk/reward ration, keep the others small but also enter into different instruments simultaneously, and, always have some positions that inversely collerate with the main market.

As said, your post is just a boast exposing your wreckless inexperience, if you intend to become a successful trader then pay attention to above said.

I'm a fan of not leaving more money than necessary to trade in the account.As happened to you one bad day can be a killer.If there is limited money in the account when a tilt day happens(being honest much less often than in the past but they still happen)the broker's margin requirements will keep me out of too much trouble.

 

[easymon1]

I am up 130k for the year but not a millionaire yet. Trading feels boring to me. 1k a day feels like a grind. Would it be foolish to bet more to make 30k a day or so? There have been many times I have been kicking myself for not being greedy

You'll never get a gulfstream on a K a day, mr steven w. have you considered mastering the art of position sizing. na, me neither.

enter that term into a search engine, you may be surprised how others have wildly differing views on the best way to get that first mil.

heavy risk in the beginning of the semister, or steady build as she goes.

sounds like you got a sure thing either way, so i must plead, please be kind and leave some money for the rest of us.

cheers

 

[volente_00]

Account value is around 400k but I risk only 10k per plays. Was wondering to increase it to 100k or so since I realized at this rate I will never be rich.

Just wondering if anyone was in my shoes before and it paid off for them to take bigger risks

How long have you been trading and what has been your biggest % drawdown on this account ?

 

[Turveyd]

I'm a fan of not leaving more money than necessary to trade in the account.As happened to you one bad day can be a killer.If there is limited money in the account when a tilt day happens(being honest much less often than in the past but they still happen)the broker's margin requirements will keep me out of too much trouble.

Agreed, can't see the point, enough for a buffer and cover the margin required, stops you having a REALLY REALLY BAD day!!

ICmarkets, I can setup multiple accounts for different platforms, so I just transfer money to the other accounts, instant and free.

In a Black Swan account goes negative, they'll still take from other account so not perfect.

 

[TommyR]

add cautiously to winning positions

 

[pipeguy]

Agreed, can't see the point, enough for a buffer and cover the margin required, stops you having a REALLY REALLY BAD day!!

ICmarkets, I can setup multiple accounts for different platforms, so I just transfer money to the other accounts, instant and free.

In a Black Swan account goes negative, they'll still take from other account so not perfect.

I think it depends on individual psychology, I prefer to keep big equity and make small stakes (relative to equity), even if I set stop losses. I know this preference has little sense, but still it doesn't entice me to open more trades, rather pay more attention to the possible risk of a trade.

 

[GrowleyMonster]

If I was consistently making $1k/day in the market, I wouldn't give two shits about "making it rich". I would not be trying to make any big, sudden changes in my overall trading plan, for sure. But that's just me, I guess. $1k/day is still way more than I ever made working, and I never lacked for necessities and always had a little fun money to blow.

Changing a very profitable plan to make it potentially more profitable at the expense of higher risk kinda sounds like a sucker play, to me. Especially if all your eggs are in the one basket, so to speak.