Micro E-mini Madness (2% per day)

sstheo said:
Thanks. It's fun thinking about where this can go if I can keep it up and keep my risk under control.

I actually don't like using the word "scalp" because I think of HFT, going for 1 to 2 ticks. I like to use the term "fast trades," because I really am going for at least $10 (20 ticks) on the MNQ or MYM as stated in my original rules. That micro $10 is like $100 on the regular E-minis.

This being said, I have MANY trades that are only 7 ticks on the MNQ or MYM. And these $3.50 trades are really only about $3.00 net. Who in the heck does this? ME, that's who. But again, I am going for bigger trades. I would just would rather get $3 than $0 or -$5 (my quick mental stop) or -$20 (my fixed stop).

After conversion to E-minis, each of these 7-tick scalps is the equivalent of $30 on the regular E-minis, and just 10 of those will get me $300 per day or $75k per year. Then if I trade 2 E-minis with 10 good small trades, that could be $150k. Then if 3 contracts . . . Well you get the picture. Its all about being able to slowly scale a working system without modifying it all the time.

Stats: I just ran my stats again. I have had 272 trades in 25 trading days or 11 trades per day average. I have had 223 winners and 46 losers for an 83% win rate. And my average net trade counting all winners and losers is actually very close to $3.00 at $2.86 per trade. Since I have only done (mostly) single contract trades so far, this is $2.86 per contract.

There are times now where I think a trend is forming, and I am more likely to let a trade run a bit longer than before, so this may help get my per-contract average up to and above $4.00.
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If you scale 1 point of MES that would give you $5 (minus commission) to meet your $4 target.
 
I fail at discretionary trading. My comfort lies in systematic trading. I considering trading well when I follow my system...the money will follow.

Es
 
sstheo said:
Flash announcement. My wife persuaded me to withdraw $500 from the account earlier today. I had just crossed $1700 this morning, so it was not a problem, and AMP had the money in my account within just 4 hours. This is a setback for my scaling goal, but I will try to keep up the recent performance and make it a non-issue. My current balance is now around $1200, so I can still trade 2 contracts at a time.

None of us lives in a vacuum, and I did not argue with my wife. She is a great supporter of my efforts, but felt we needed the money on the bills. We recently married off our second daughter and are still paying for the wedding!
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Where do you live, USA or another country ? You rely on scalping the micros for making a living ? Sounds very crazy to me, with an account of that size. But I enjoy your effort and your trading results ! Keep up the good work.
 
I will reply to previous questions soon.

Here are my scalps for the day on NQ. Up over $50 on several shorts. The blue line is the 61.8% retracement of the huge multi-day move down, and a GREAT shortin' spot. But not sticking around too long. This thing could still go to the moon. WHAT A POP yesterday! And NFP this morning really got things going too.

I did not trade the NFP. That is just suicidal. But the guy in the chat room I mentioned made over $1000 on the NFP going long on the ES. I think he was absolutely nuts.

upload_2019-10-4_9-27-2.png
 
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ElectricSavant said:
I know..but all that commish
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I appreciate the concern. It IS a lot of commission. But it is okay. I planned for it from day one. Read my very first post again?

3 steps forward and 1 back. 3 steps forward and 1 back. Shuffle, shuffle, limping along.

I will get there to the ES trading level...
 
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