Johnny Rock's $100,000 Challenge

After the first of the year, I am going to aggressively fund my account.

I still plan on trading one MES contract per trade, but when this market finally tanks, I need the wiggle room for large stops and increased margin requirements.

If I continue to trade in a disciplined way, I will scale up rather quickly on the way down (provided my stops and margin required to trade allow me to).

...

I also quit trying to trade both mean reversion and trend trades. Attempting to do both would cause me to over trade.
 
This morning about 4 AM, I saw the market was tanking. I stuck to my normal schedule and traded in the afternoon.
  • Small scalp for a $55 profit.
  • I'm still holding 125 shares of WEAT at an average price of $7.46.
  • I only made one day trade for the week, and did not add to the WEAT.
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There is a trading thread going on that reminds me of when Bob Lassiter trolled ET.

However, the guy stated that he is very close to being the best trader ever.

After reading that, I realized my goals are too small.
 
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  • My plan is to average UP in WEAT ($200/month) until I unload it.
  • Once the funds clear next week I will purchase the next lot and update my totals at the end of the week as usual.
 
johnnyrock said:
  • 63.25 MES points
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Yesterday was my best day trading futures ever in a live account.

However, it could have just as easily been a $100 day instead of a $300 day.

  1. MES is 1/10th the size of the ES
  2. That same trade would have yielded $3k in the ES.
  3. However, in the ES, it would have been much harder to stay in the trade as long as I did.
Although I recently became off another long stint trading the IB demo account, I have traded with real money several times.

I said all that to say this. Each time I try to develop a method for trading futures, I always start in demo mode. Most of the time, it goes no further. If the system isn't profitable there, why bother with real money?

That's where it gets tricky. If I am making money in demo mode, I be can't wait to throw some real money at the best trader(s) in the world like @padutrader.

One of two things have happened at that stage. (1) I realize that I don't have a winning method, or (2) I can't stick to it.

...

Continued in a separate post.
 
johnnyrock said:
Yesterday was my best day trading futures ever in a live account.

However, it could have just as easily been a $100 day instead of a $300 day.

  1. MES is 1/10th the size of the ES
  2. That same trade would have yielded $3k in the ES.
  3. However, in the ES, it would have been much harder to stay in the trade as long as I did.
Although I recently became off another long stint trading the IB demo account, I have traded with real money several times.

I said all that to say this. Each time I try to develop a method for trading futures, I always start in demo mode. Most of the time, it goes no further. If the system isn't profitable there, why bother with real money?

That's where it gets tricky. If I am making money in demo mode, I be can't wait to throw some real money at the best trader(s) in the world like @padutrader.

One of two things have happened at that stage. (1) I realize that I don't have a winning method, or (2) I can't stick to it.

...

Continued in a separate post.
More...
This time around has been different. The first change I made was to settle in my own mind that mean reversion trades our out!

MR trades (for me) have a low R:R, so a bout of overtrading will wipe out my capital quickly.

The second change I have made (in real life outside if trading) is meditation. The two types of meditation that I do are mindfulness and breath focus.

...
Continued in a separate post.
 
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