Micro E-mini Madness (2% per day)

CALLumbus said:
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.
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I am a real estate broker in Utah, USA making a decent living. But I had a few slow months right before the wedding, LOL. I trade two to three hours a day and hope to replace my brokerage income in 12 months by following the plan laid out in the first post.

Yes the $500 withdrawal was not part of the original plan, but we will adapt.

Thanks for the encouragement!
 
traider said:
If you are that consistent, go to a prop shop and show them your results. They have much lower fees.
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I dont think that will be necessary... why should he share his profit ?

Once his gets his account up to being able to trade the NQ instead of the MNQ, his fees to profit per tick ratio will basically be cut in half. If he wants to get even lower fees, he can always apply for a CME membership / lease a seat.
 
Scataphagos said:
Agree.

"Visions of sugar plumb fairies" rarely become reality. Suggest OP trade small until he feels confident that he can make 2 POINTS/day before scaling up.
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With the withdrawal, I am back now to 2 concurrent max micro contracts - MNQ or MYM. I can't get much smaller on size!

I am not sure what you are saying about points. Are you saying 2 ES points ($100 per day) as the scaling threshold?

I do have visions of many sugar plum fairies dancing around me. And I hope to be one of the exceptions that you have allowed for.

I still consider myself a newbie after 13 years, but I think I have finally cracked the nut. Hmmm. Sugar plum fairies and nut crackers. You know what I am thinking of?

Well, I continued to trade while I wrote this, and I am up to $80 today. Here are my last few MNQ trades, all short on a very bullish day. Someday I will figure out how to actually GO WITH the trend. LOL

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jl1575 said:
If you scale 1 point of MES that would give you $5 (minus commission) to meet your $4 target.
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The ES and MES might be fine, but I like the finer granularity of the NQ/MNQ and the YM/MYM. They each can give the same (or more) number of dollars per move, but there are more ticks in the same move. This allows me to get in and out at more possible locations.
 
sstheo said:
Please explain more about what you mean. I am missing something...
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When you have traded successfully for a period... say a year.... and you've averaged "2 points/day", you perhaps understand your process well enough to trade for bigger.

Your "process" needs to stand on its own.... "what are you going to do and why"? The number of contracts and the money should be irrelevant.
 
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Scataphagos said:
When you have traded successfully for a period... say a year.... and you've averaged "2 points/day", you perhaps understand your process well enough to trade for bigger.

Your "process" needs to stand on its own.... "what are you going to do and why"? The number of contracts and the money should be irrelevant.
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I see what you are saying. We are actually speaking the same language. The dollars don't matter as I scale up. Yes, the points are all that matter.

In a couple previous posts, I showed my averages. I will revise those going forward to say "points" or "ticks." I trade the Nasdaq and Dow, but because many people trade the S&P, if I say "points," the numbers will be way off. So I will make sure to clarify what instrument I am referring to. So as long as I am clear we will be good.

I will repost some stats in the correct format soon. Thanks for the clarification.
 
Scataphagos said:
The $100 isn't the important part... it's the 2 points.
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At the suggestion of Scataphagos, I have done a major table and graph overhaul which emphasizes ticks over dollars, easily paving the way for scaling and meaningful performance data:

1) I have removed the % gain per day, because it got screwed up with my withdrawal.

2) I added the number of TICKS on the MNQ and MYM that I get each day. The ticks multiplied by the max #of micros times the tick value of $.50 should equal the net profit for the day.

3) I have removed the $ balance graph and replaced it with the ticks per day and 10-day average.

What do you think?

My 10-day moving average is currently 53 ticks on the Nasdaq and Dow. So whether I do
  • 1 Micro contract for $26 on the MNQ (53 ticks X $.50/tick), or
  • 1 E-mini at $260 profit (53 ticks X $5/tick), or
  • 10 E-minis at $2,600 profit (53 ticks x $50/tick ),
it is really all the same. It's all about the ticks.

In any event, I will still only trade a maximum of 1 micro per $500 in the account. To break this rule would mean certain nuclear detonation.

upload_2019-10-4_15-43-5.png
 
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