Micro E-mini Madness (2% per day)

EsKiller said:
Because everybody is a single 22 year old living in moms basement. Ask the trader living in San Francisco with 2 kids and an $800k mortgage how great of a living trading a 2 lot is going to get him.

Don't forget to save for retirement.
Don't forget health care costs.
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Don't blame the young bachelor for your simple existence. Every schmuck has 2 kids with a mortgage, and most likely his wife is banging the young bachelor lol.

But don't say someone hasn't traded futures just because they suggested using 2lots. As far as "making a living" I have no idea, but one can make good money with 2 lots alone.
 
sstheo said:
What part of my thinking is troubled? (Besides the thought that by posting this stuff I might actually be helping someone in some remote region of our planet.)

I haven't changed my plan at all. I am still trying to reach $10k with micros using my personal live account, using $500 margin per contract. At $10k I will start trading the E-mini's.

The 15 max contracts and Leeloo actually have nothing to do with this journal.
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Dude please keep it up, don't let anything deter your journey.
I enjoy this journal a lot and will start contributing!
Been a long-term lurker!
 
What is a "5k max loss"?

A little detour first--

Almost all of these funding companies are number magicians. OneUp says $150k, and then you have up to 15 contracts to trade simultaneously and a max loss of $5k on the account.

LeeLoo specifically says "15 contract account", and does NOT say $150,000 because they know the $150k is a lie. Yet the platform has to say something, so they chose $150k anyway, LOL.

What is the true value of the account? You can figure it one of two ways:

A) MAX LOSS. The max loss is $5,000. So the max value of the account is $5,000. End of story. If you lose $5,000 then you are dead.

B) AVAILABLE MARGIN. The equivalent margin required for 15 contracts is about $6,000 if you estimate $400 daytime margin per ES contract. However, I think both OneUp and LeeLoo allow you to trade SILVER which has a margin requirement of about $5,000. If you multiply this by 15 contracts, then the account is "worth" $75,000.

So which is it? Of course it is A. B makes no sense in the real world.

So to answer your question, a "Max Loss of $5k" means if you lose $5k on the account you will lose the account. There is one exception: If you grow your account to $6,000, then the max loss grows with you. $7k, $8k? the max loss holds firm at an account "balance" of $150k.
 
NEWS FLASH! The Micro ES contract (MES) just leapfrogged dozens of other futures contracts to become the 7th most popular futures contract in the universe today:

upload_2019-10-22_22-18-25.png
 
Back in the saddle, like I said. I traded the last three days. I am still growing the account slowly. I am extremely close to having $1,500 in the account (like before the $500 withdrawal) and giving myself permission to trade 3 contracts. I am hovering around 2.0% growth per day, but I'd rather be above it than below it.

My average ticks per day has really dropped off recently, but I think I can get back above 30 ticks average per day.

Next stop: $2,000 balance.

upload_2019-10-23_21-10-26.png


I will post more trades and stats, since that is what people are asking for.
 
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