i can already tell from your replies you wont make it.. sorryAssuming for a moment that I actually can get to $10k on the micros, having a 10k account and trading just one or two eminis is the exact same proportion as $1000 with a 1/10th sized micro. So I should be able to keep going without missing a beat.
But I do like your idea of pulling out the money!
My wife would too.
Micro E-mini Madness (2% per day)
- Thread starter sstheo
- Start date
Most moronic post ever.
If he has the skill to go from 1000 to 10000 then 10000 to 100000 is the same.
Who has 100k to well lose,whichis what will happen!
Muppet!
I haven't tried. My life turned upside down when I had to start wearing glasses for the first time 4 years ago. I read fewer books and and my tiny phone screen looks like a postage stamp.
As mentioned in my introductory post, I came in 13th out of 1,400 traders in a contest of those who traded the Micro E-mini contracts for a full week on the official CME sim platform. While I admit that this leader board placement certainly guarantees NOTHING about my success going forward, I thought it would at least be a sufficient enough standing to persuade the tough critics on EliteTrader to give me a chance to show what I can do with real money. Are you suggesting I just give up and go home? Indeed the journal is called "Micro E-mini Madness" for a reason. I am probably mad. But let me have some joy in my insanity for at least a couple weeks???
YEP, the fees are twice as high! But my whole premise is that this is just a lower-risk training ground and simply a foot in the door on the way to a $10k account capable of safely handling a couple emini contracts. You still have to have good trades and manage your risk properly, and this is what I aim to do and track my results here in the journal.
If your system has a 90% win rate something is wrong..
…"One of the exciting things about the new micros is the margins are only $50 to $100, so you can play like a big trader and finally learn how to scale in and out. The best traders usually take the bulk of their positions off at the first target but then let their winners run. And with an overnight margin of about $500, you could even do a swing trade and not get stressed out..."
There is one flaw in your thinking...The current volatility environment on the equity futures is the EXACT reason you should NOT try this right now. This high-volatility environment is what drove many trader to the micros in the first place, me included.
And while everything is proportional, your idea of 1000 to 10,000 is admirable. But 10,000 to 100,000 is not.
While you may be able to scale in and out of the micros to your satisfaction, everything changes when the scale goes up ten-fold. Mostly on the psychology side, but also just the practical side. If in your first go you when you switch to the minis at $10K in your account, you scale in a bit and you get a position against you in, say, 3-4 contracts? You will take a major loss if not in the position, but on the margin call at closing time.
You may see this in the micros, too. Be very careful with your idea here, please. I would love to see you succeed, but do not think it is going to be painless.
I have an account that could accommodate a very large number of minis, but I am sweating this volatility even with micros. The now unpredictability and huge swings of the equity futures weighs heavily on my mind, and is causing me to be so conservative that I am making bupkus.
There is one flaw in your thinking...The current volatility environment on the equity futures is the EXACT reason you should NOT try this right now. This high-volatility environment is what drove many trader to the micros in the first place, me included.
And while everything is proportional, your idea of 1000 to 10,000 is admirable. But 10,000 to 100,000 is not.
While you may be able to scale in and out of the micros to your satisfaction, everything changes when the scale goes up ten-fold. Mostly on the psychology side, but also just the practical side. If in your first go you when you switch to the minis at $10K in your account, you scale in a bit and you get a position against you in, say, 3-4 contracts? You will take a major loss if not in the position, but on the margin call at closing time.
You may see this in the micros, too. Be very careful with your idea here, please. I would love to see you succeed, but do not think it is going to be painless.
I have an account that could accommodate a very large number of minis, but I am sweating this volatility even with micros. The now unpredictability and huge swings of the equity futures weighs heavily on my mind, and is causing me to be so conservative that I am making bupkus.
What was your contract size? was it daytrading?
The pressure gets hard as the $ value of trades increases, but as he’s scaled up to get to 10k he’ll likely be trading full emini sizes by 10k anyway, then just increasing the same although bigger steps.
So i don’t see an issue at all.