I havnt read the whole thread, but do you plan on posting
account statements showing your pnl?
account statements showing your pnl?
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My high school summer job: trading the NQ
- Thread starter zdawg164
- Start date
Guys this is this killing me here. Another down day, this time minus $140. The first two trades I have no idea why I did them seeing as 59 was the low, and like I said, my system only calls for lows/highs and s/r, in the first two trades I don't know why... I just forgot. After that in my third trade I actually had everything going, I could have taken the 1.5 pt profit, but I decided to hold on as long as I could. In the end this turned into a 3 point loss when price just blew my stop away. Anyways, I think tomorrow will be my last day when I trade if loose $ yet again. Like I said, I worked too much at the CVS to let it all slip away. This is like 30+ boring hours just vanishing.
Anyways, surprisingly I'm not going into some depression like I thought I would. Just another day on the markets right?
So, tomorrow I guess will be judgement day. I know you all think that I will loose more $ tomorrow, and that I should stop now, but I'm still keeping my hopes up, amazingly.
I got the picture of my 3 trades with the labled highs and lows which, btw, I ignored on trades number 1 and 2 as you can clearly see.
My PL is also here if people were that curious. It doesn't count commish for some reason (4.8 per RT) so you have to add that on as well
Anyways, surprisingly I'm not going into some depression like I thought I would. Just another day on the markets right?
So, tomorrow I guess will be judgement day. I know you all think that I will loose more $ tomorrow, and that I should stop now, but I'm still keeping my hopes up, amazingly.
I got the picture of my 3 trades with the labled highs and lows which, btw, I ignored on trades number 1 and 2 as you can clearly see.
My PL is also here if people were that curious. It doesn't count commish for some reason (4.8 per RT) so you have to add that on as well
You have no business trading real money.
You must first thoroughly understand the concepts of money management, expectancy, risk management. After that you can begin tweaking your system to offer you positive expectancy. You say you wanted to take a 1.5 pt profit but took a 3 pt loss? You would need something like 80 percent winners in order for that strategy to work. So once again, stop trading real money, you are not ready. Best of luck.
You must first thoroughly understand the concepts of money management, expectancy, risk management. After that you can begin tweaking your system to offer you positive expectancy. You say you wanted to take a 1.5 pt profit but took a 3 pt loss? You would need something like 80 percent winners in order for that strategy to work. So once again, stop trading real money, you are not ready. Best of luck.
At your age, you are way ahead of the pack. Anyhow, you should stop now because there is no need to throw away good money. Even if you have a winner tomorrow, scalping like you with a small account will lead to the poor house fast.
Small accounts need to catch the runs on the ER/NQ/YM/ES in order to survive. We have been there, done that and trust me, it wont work scalping for 1/2 pts. So good luck if you insist on continuing.
Also when you said watching 30+ hours of market movement is boring and a waste of time??? This game is definitely not for you kid. You gotta to love the market's moves. The more the better, that's where the money is at and of course the chicks are after that if that is your end goal. But for now, dont waste any more money. Stop and good luck.
Small accounts need to catch the runs on the ER/NQ/YM/ES in order to survive. We have been there, done that and trust me, it wont work scalping for 1/2 pts. So good luck if you insist on continuing.
Also when you said watching 30+ hours of market movement is boring and a waste of time??? This game is definitely not for you kid. You gotta to love the market's moves. The more the better, that's where the money is at and of course the chicks are after that if that is your end goal. But for now, dont waste any more money. Stop and good luck.
you are young enough, take a long term plan on this. Save up some money and do some research and get with a firm that can train you. you could be making a living by the time you are 21 if you are dilligent about it.