Johnny Rock's $100,000 Challenge

tiddlywinks said:
just a question... why do so many newbies choose the same "learning" path, and then whine and complain when they land in the bottom trading statistics rungs?

I made this post a few days ago...
https://www.elitetrader.com/et/threads/if-you-cant-make-money-on-a-simulator.359896/#post-5414632

Good trading to ya Johnny
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Your thread (I have read it) backs up what I am doing. Using the IBKR paper trading account - trading the micro contracts with the sizes I mentioned - actually removes the barriers you have suggested. Slippage on the MCL may be a concern, but slippage on the MES definitely isn't. Commissions are the same and IB takes that out.

So using 1M makes no sense. Trading, and scaling up, at 3k increments - momentum trades - will be a good indicator to my ability to trade with real money. I get real money is different, but if I can't exponentially grow a small paper account, I can't do it with real money. Obviously, the inverse doesn't apply. Real money equals REAL fear and greed. I get that.
 
It's not my thread.

And again I just ask a question...
why do so many newbies choose the same "learning" path, and then whine and complain when they land in the bottom trading statistics rungs?

Triple X <> 3x X 1
Good trades to ya Johnny.
 
tiddlywinks said:
It's not my thread.

And again I just ask a question...
why do so many newbies choose the same "learning" path, and then whine and complain when they land in the bottom trading statistics rungs?

Triple X <> 3x X 1
Good trades to ya Johnny.
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I don't know the answer. I'm one of those bottom rung traders you speak of. I'm just taking another shot because I have evidence thru my paper trading that shows huge improvement and profitability since the last time.

But, I am going to give it more time in the PT account.
 
Johnny why don’t you try triangulating down moves and up moves to pinpoint likely reversals. If you learn to correlate triangulation as it plays out in the market cycle you might find the technique useful. It is not 100%, like anything else, but often times it works out.
 
johnnyrock said:
I see that the MCL contract will begin trading in July, and it just so happens, that I have a day trading strategy that I am prepared to implement.

As you may know from being a regular reader of ET, this site is populated with big ballers and shot callers. I am neither!

However, I fully believe that power is found in purpose which is revealed through passion.

Then again I may just be a hopeless gambler.

With that in mind, follow at your own risk. Subscribe if you are entertained.

g_anon - Twitch

I won't be trading live, sharing charts or even giving up the super secret, proprietary indicator. However, I will share how many trades I took and the total p/l for each trading day.

For you old farts who don't watch Twitch, I'll post a weekly p/l on this thread. I hope to see you there.

Btw, this will be a real trading account with a goal of making $100,000. If that happens, each of my other goals will also come to pass. Delusional? Probably!

  • Day trade the MCL
  • Level up to the MES
  • Level up to the ES
  • Fund the Drop Out Inn
  • Write the retelling of the narcissist myth with a twist
If I do in fact reach the goal of $100,000 from trading alone, I will give up the secret on this site. I'll do it on Twitch first, but I won't leave you hanging.
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the problem with day trading MCL (micro crude oil) is that the volume is going to be very low.
the mini crude oil QM volume is already much lower than CL volume.
 
maxinger said:
the problem with day trading MCL (micro crude oil) is that the volume is going to be very low.
the mini crude oil QM volume is already much lower than CL volume.
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The QM is a failed contract because the parameters are all wrong. It's $12.50 per tick. 2.5 cents per barrel, versus 1 cent per barrel on CL ($10 per tick).

MCL this go around will be much more successful. Trust me on that.

(Remember, they tried it before 20 years ago, but that was a different time.)
 
I found this elsewhere on ET. Start at 26 minutes in if you trade the micros or e-minis; puking opportunities coupled with "pace" of the tape signaling change.

qlai said:
SMB YouTube content is must watch (at least for day trading). One can make a living just doing below trades(with practice of course)

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