Micro E-mini Madness (2% per day)
- Thread starter sstheo
- Start date
Short term bulls look exhausted while VIX is trying to build a bottom which might take a couple of weeks to complete. I think market is likely going to become volatile by December/January.
Trading wise, I executed 10 trades so far this week without any loser with a net profit of ~$2300. Starting next week, instead of trading using 2 to 4 lots I'll up my game from 4 to 8 lots and I'm talking about using Emini contracts. Afterward, I plan to increase 1 lot per each $10k of profit. The reason for doing so is that a) I've been making consistent profits for many months to the point where I'm confident to trade bigger and b) I've been trading less and less where I only execute trades for those setups with extremely high win rates. That said, my plan is to see if I can improve by my wealth through trading or spending time on doing other business/hobbies should I blow my $100k account.
Trading wise, I executed 10 trades so far this week without any loser with a net profit of ~$2300. Starting next week, instead of trading using 2 to 4 lots I'll up my game from 4 to 8 lots and I'm talking about using Emini contracts. Afterward, I plan to increase 1 lot per each $10k of profit. The reason for doing so is that a) I've been making consistent profits for many months to the point where I'm confident to trade bigger and b) I've been trading less and less where I only execute trades for those setups with extremely high win rates. That said, my plan is to see if I can improve by my wealth through trading or spending time on doing other business/hobbies should I blow my $100k account.
Stop giving out advice on that which you know nothing about. QM and CL are NOT the same thing as NQ and MNQ.
Um, yeah, all the displayed volume is actual, real, LIVE, trading volume, in MNQ. Yes, it's a real market. E-micros do exist in space and time.
In fact, the CME just came out with a primer. Are you not signed up with the CME communication group to get these alerts, as any REAL futures trader normally would? No, of course not, because you are so full of fucking bullshit, you are about to float away. Fly fly fly, little birdie.
This e-mail is privileged, so I cannot share with you the link. Only REAL traders can have access to this info.
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Micro E-mini futures traded 72M+ contracts in 6 months since launch
Daily average volume over 560K across 4 indices
Since their successful launch in May 2019, Micro E-mini futures continue to build in volume and liquidity, providing traders of all sizes greater precision, flexibility and capital-efficiency to manage equity exposure.
In the first 6 months of trading:
- Over 72M contracts traded in total, with average daily volume of 561K contracts
- Single-day record volume of 1.4M contracts on August 7
- Individual Micro E-mini contracts: 35.8M+ in S&P 500 (MES), 26M in Nasdaq-100 (MNQ), 6.6M+ in Dow (MYM), 4.1M+ in Russell 2000 (M2K)
- Global participation: Average daily volume of nearly 90K contracts traded during non-US hours before the cash open
- 26% of volume came from outside of the US, with trades submitted from 160+ countries
Source: CME Group. All data as of US cash market close on November 5.
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@bitang Don't mess with people here with your disinformation about micro-equities not being real, tradeable instruments. "Not traded". The FACK you know. You really pissed me off, dude.
SPY is not breaking outside BB 20,2 on my Daily chart,prompting me to ask about your BB settings.
Attachments
Hi guys.
The March of the Bulls (27 days and counting) and my "reversion to the mean" style are somewhat incompatible. I haven't learned enough yet to just "go with" the bulls - to more and more new All Time Highs.
In fact, I have been pretty quiet here because my live AMP futures micro account has gone basically nowhere for three weeks now. The glorious gains have been muted by many frustrating failures.
Also I promised my wife I'd withdraw $500 on a regular basis. Without that promise, I think I would be fine, but this is a promise I really need to keep. Unfortunately, today is another withdrawal day. Yes, I am doing okay in my real estate business, so this is not my only source of income. But I need to do this right with my wife who has been very patient with my trading. We all need to keep our commitments to our significant others!!
What this means is the following:
1) I have proved to myself that I could average about 2% per day. And I did it for a couple months (over 40 trading days). I am convinced that my original premise is still valid: A new or struggling trader with a small account (or even a large one) should use the CME Micro E-mini contracts instead of blowing their accounts by over-leveraging with the regular E-minis. And with these Micros and good trading, someone could - over time- build a substantial account.
2) With the reduction in capital because of withdrawal promises made, my experiment is significantly hindered, and I know now that I just can't get to $10,000 in six months - without violating my "low-risk taking" rules. So the system has been twisted, and the fun is gone out of my experiment.
3) The conclusion is that I am officially closing this journal down for the second time.
The market is the market. It is going to do whatever it feels like based on earnings, technicals and the newest addition: TWEETS!!! The reason we don't go "all in" on each trade is because we accurately assess risk and PLAN FOR THE POSSIBILITY OF FAILURE and then are (hopefully) pleasantly surprised when we grow our accounts. While I did quite well for many days, some days the market beats me. I can't force a win. No one can.
I concede that those who publicly dismissed this experiment and journal as "doomed for failure" can indeed claim partial victory, but not full victory. I am hindered by a lack of capital because of mandatory withdrawals. I think if the market hadn't shot to the moon in a straight line, I'd be going strong still despite these regular withdrawals. I can really kick butt on reversionary days.
There is another factor in this decision to close down as well. I have started a real estate lending business to go along with my brokerage, and I need to give it much more time.
There have been many who have posted great comments here on my journal. THANK YOU SO MUCH!!!
As my parting gift, I invite and encourage you to post a link below to your OWN journals on Elite Trader so the others here can follow you.
Finally, (1) Trade well. (2) Keep the risk low. (3) Consider the Micros. (4) Exercise, eat well, and get plenty of sleep. (5) Spend time with your significant others.
Sincerely,
sstheo
The March of the Bulls (27 days and counting) and my "reversion to the mean" style are somewhat incompatible. I haven't learned enough yet to just "go with" the bulls - to more and more new All Time Highs.
In fact, I have been pretty quiet here because my live AMP futures micro account has gone basically nowhere for three weeks now. The glorious gains have been muted by many frustrating failures.
Also I promised my wife I'd withdraw $500 on a regular basis. Without that promise, I think I would be fine, but this is a promise I really need to keep. Unfortunately, today is another withdrawal day. Yes, I am doing okay in my real estate business, so this is not my only source of income. But I need to do this right with my wife who has been very patient with my trading. We all need to keep our commitments to our significant others!!
What this means is the following:
1) I have proved to myself that I could average about 2% per day. And I did it for a couple months (over 40 trading days). I am convinced that my original premise is still valid: A new or struggling trader with a small account (or even a large one) should use the CME Micro E-mini contracts instead of blowing their accounts by over-leveraging with the regular E-minis. And with these Micros and good trading, someone could - over time- build a substantial account.
2) With the reduction in capital because of withdrawal promises made, my experiment is significantly hindered, and I know now that I just can't get to $10,000 in six months - without violating my "low-risk taking" rules. So the system has been twisted, and the fun is gone out of my experiment.
3) The conclusion is that I am officially closing this journal down for the second time.
The market is the market. It is going to do whatever it feels like based on earnings, technicals and the newest addition: TWEETS!!! The reason we don't go "all in" on each trade is because we accurately assess risk and PLAN FOR THE POSSIBILITY OF FAILURE and then are (hopefully) pleasantly surprised when we grow our accounts. While I did quite well for many days, some days the market beats me. I can't force a win. No one can.
I concede that those who publicly dismissed this experiment and journal as "doomed for failure" can indeed claim partial victory, but not full victory. I am hindered by a lack of capital because of mandatory withdrawals. I think if the market hadn't shot to the moon in a straight line, I'd be going strong still despite these regular withdrawals. I can really kick butt on reversionary days.
There is another factor in this decision to close down as well. I have started a real estate lending business to go along with my brokerage, and I need to give it much more time.
There have been many who have posted great comments here on my journal. THANK YOU SO MUCH!!!
As my parting gift, I invite and encourage you to post a link below to your OWN journals on Elite Trader so the others here can follow you.
Finally, (1) Trade well. (2) Keep the risk low. (3) Consider the Micros. (4) Exercise, eat well, and get plenty of sleep. (5) Spend time with your significant others.
Sincerely,
sstheo
This is another terrible day indeed.You inspired some of us a few weeks ago by your remarkable performance before the market rhythm changed,compounded by your missteps of premature withdrawal,quitting to concentrate on prop trading combine.Then came back after a few days to wander about in the market thereby validating the concern that @Seaweed,and @digitalnomad raised in 27th October.
Did you pass the combine and now a funded trader?
I'm very disappointed that you failed to achieve the $10,000 target.You have the potential of making it real big in the market if you can learn more deeply about your chosen assets,and how not to sabotage yourself.I wish you whatever you wish yourself.