Micro E-mini Madness (2% per day)

[ElectricSavant]

If you can trade with an 80% winrate you gain my respect. If you do not that's ok too at least you are a fellow trader and you got the balls to post a journal.

I wrote "Risk:Reward of 2:1," I meant "Reward:Risk of 2:1." I still have an inverted Risk to Reward ratio in my trading, but as long as I stay above 80% win ratio I do fine. My next goal is 1:1.

I also said that I will be trading the NQ and YM, but of course I meant the MNQ and MYM.

 

[sstheo]

Not only that..but you can widen your stops if your system improves by doing that.

ES

I started this week and this account with my micro stop at 40 ticks ($20) on both the MNQ and MYM. The market is just moving too fast for anything else in my opinion unless you are going to hover over the "flatten" trigger. But what kind of life is that? I am trying to reduce my stress, LOL.

"Get out immediately if a trade goes against you" is how I usually like to trade the NQ's and YM's, but the MNQ and MYM just can't work that way-- because of the extra slippage and bigger fees.

My emergency stop loss on the NQ and YM is $150. So you can see that proportionally, my Micro stop loss at $20 is already larger than my E-mini stop loss. ($20 on Micro is like $200 on NQ/YM).

I could widen my stops further, but I think that is a slippery slope.

 

[ElectricSavant]

https://www.sierrachart.com/SupportBoard.php?ThreadID=28347

I would love to use a platform that has these built in. I use Multicharts, but I am not married to it. AMP will actually let me use several different platforms for free: MT5, Sierra, CQG Trader, Market Delta, Rithmic, Volfix, and Zlan. Anybody know if any of these have MAE and MFE analysis?

On the topic of data reports, I know I could report my results publicly with TraderVue, (awesome!) but I don't feel like paying $30 a month to post my trades. Does anyone know a way to synchronize any of the above listed platforms with a public reporting tool? It needs to be free and happen automatically, but only at the end of the day if possible, so that when I become famous (haha) people aren't just copying my trades.

It could go to a website, or I could give out a pass code to actually view the real data on the platform. (MT4 had something called an "investor password" for example)

 

[ElectricSavant]

ok..but wait for the MAE and MFE study...I'm just sayin' Micros cause not only an ability for less exposure...but also for wider stops..it may or may not help. But don't change the way you trade if in fact you won that contest and such. But if you trade systematically without emotion or feeling then the MAE and MFE will help you gauge your trades.

Es

I started this week and this account with my micro stop at 40 ticks ($20) on both the MNQ and MYM. The market is just moving too fast for anything else in my opinion unless you are going to hover over the "flatten" trigger. But what kind of life is that? I am trying to reduce my stress, LOL.

"Get out immediately if a trade goes against you" is how I usually like to trade the NQ's and YM's, but the MNQ and MYM just can't work that way-- because of the extra slippage and bigger fees.

My emergency stop loss on the NQ and YM is $150. So you can see that proportionally, my Micro stop loss at $20 is already larger than my E-mini stop loss. ($20 on Micro is like $200 on NQ/YM).

I could widen my stops further, but I think that is a slippery slope.

 

[sstheo]

Wouldn't you need to start with 1 contract for wiggle room? Sorry for my late post...I am catching up.

ES

I traded with only 1 micro contract the first 3 days and a maximum of 2 yesterday. I actually didn't like trading with 2. So yes, I need more wiggle room inside my head! I will probably stay with 1 all next week.

 

[sstheo]

https://www.sierrachart.com/SupportBoard.php?ThreadID=28347

I love it! Thanks for digging this up.

 

[ElectricSavant]

Good Job...you give this old man some hope...and Thank-You readers for not hating and heckling. Let this young man learn and lets try to share what we know. I myself am learning from him...So even if he fails he has helped with this archived thread.

Es

P.S. Maybe they are heckling and I do not see it as I have them on ignore and blocking. There seems to be a clan of the same offenders here in many threads. I simply have made my ET experience far better.

I traded with only 1 micro contract the first 3 days and a maximum of 2 yesterday. I actually didn't like trading with 2. So yes, I need more wiggle room inside my head! I will probably stay with 1 all next week.

 

[ElectricSavant]

SS,

Well as long as you do not hold into the next session then you will not get a margin call. I think you said something like $500.00/contract in your previous post in the beginning of this thread. I know you said that you will post your official rules but you cannot ramp up per $500.00 as you need wiggle room. I realize you have a daily loss limit which is very good....but watch your exposure ok?

ES

I traded with only 1 micro contract the first 3 days and a maximum of 2 yesterday. I actually didn't like trading with 2. So yes, I need more wiggle room inside my head! I will probably stay with 1 all next week.

Indeed the epiphany for me came when I realized with the micros I can add contracts one at a time and scale up gradually. I will post my official rules, but I will probably add 1 micro with each additional $500 in the account balance. $1500 would then allow me to trade with 3 micros. If I keep looking at a % growth and keep things reasonable and not try to swing for the fences, then I should succeed.

 

[sstheo]

If you can trade with an 80% winrate you gain my respect. If you do not that's ok too at least you are a fellow trader and you got the balls to post a journal.

As strongly alluded to in my introduction, my motivation is to help others as I help myself. Writing about and reporting on my trading truly helps ME. The accountability is so good. Too hard to cheat. (If no one is watching I take too big of risks when I just "know" what the market is going to do next. These times usually end in disaster, by the way.) But I also have felt so much frustration in trading myself. If I can say something that will help my fellow trader, then I have accomplished something really good.

My win rate has rarely been under 80%. But I will start to track it more closely for this journal.

"So with a win rate so high, what in the $%^@# is your problem?" I can hear you asking. Just the stops. I hate taking stops! So after getting up to $500 on the E-minis in one day, I might then "decide" to give most of it back by not taking the small loss. Or maybe I immediately start negative and just keep hoping for a rebound. It's all stupid and one of my many demons. I get a small "cut" and I just sit there and watch it. I watch it bleed and bleed and bleed - until I bleed to death. The "deer in the headlights" syndrome is alive and well in me. How many times have I been plastered all over the semi coming down the highway? Can't I hear the engine and the tires? Can't I see the bright lights?

But this journal is helping me. I have to take the small losses. I have to treat it like part of the game. I have to show the nay-sayers that I can do it! I owe it to myself to do well after all these years. I want to prove to the other little guys that they really can make it work if they follow a few simple rules.

 

[ESgambler]

I am not sure if you are trading the tanking Euro or Futures in one of the most volatile US index range conditions ever, but there has been some craziness in the market for sure. As long as the Tweeter in Chief occupies 1600 Pennsylvania Avenue, then hold on to your cash. "Risk Adjusted Returns" is a mouthful that means we all need to be really careful.

The fact that you said you are using stops on all trades is great, and your 26% deserves lots of clapping - not for the size, but purely for being positive!

So many people have blown up over the past month. In our chat room, lots of people are using TopStep, OneUp, LeeLoo, and E2Trade, and I keep hearing "Reset" way too often. PEOPLE ARE USING TOO MUCH RISK. One "bad" tweet, one tariff, and POOF! you are gone!!!

At 1 micro per $500 in my account and 5% max loss per day, my account has a minimum 20 day lifespan. This alone lets me breathe and have my mind clear. And most importantly, even though I don't like it, when I have a 40 tick loss ($20) on one micro - I DON'T CARE. And this is the key for me right now. As explained earlier, (no joke), I used to try to trade NQ and YM on a $1000 account. I might get up to $1500 or $2000 and then BAM - back to $500 and margin call. I am really looking forward to $2,000 then $5,000 then $10,000 with the micros and then really show myself what I have learned switching back and trading the NQ's and YM's safely.

There should be a mechanism implemented into your trading system to cut losses as soon as it gets triggered. Some traders said they would cut their losses once it hits 4 points or 3%. The problem with using points or percentage to cut losses is you can't mostly tell which day is volatile or not. In volatile period like last August, it was so easily to hit 4 points of losses before market continues its direction as anticipated by your trading system.

By the way，I'll take a few days break if I make three consecutive losing trades to examine what goes wrong with that particular set of strategies.