Payback -- a daily (or less often 
) PnL rather than a journal. Besides feeding (or destroying) my ego, maybe some newbies will be inspired to find their edge. 
Background
Son-in-law-owes me money. He offered me a mostly blown-up futures account for me to trade (no formal power of attorney however) until January 1, 2007. He assumes ALL tax responsibility.
Account Specifics
1) VERY SMALL approx $2300 :eek: :eek:
2) J-Trader :eek: :eek:
3) minis RT Commish (after renegotiation) 3.90
4) $500 daytrade margin (after renegotiation)
Trading Rules
1) YM and occasionally ER2
2) Self-imposed max positions, 2 YM, 1 ER2
3) Self-imposed max loss per trade, $90 + commish
4) Self-imposed max loss per day, $150 + commish.
If reached, done trading for AT LEAST that day.
5) Trades/contracts per day, no limits
6) RTH (regular trading hours) only!
7) No pre or after hours trading. Only exception is in the
case of exogenous events such as war/peace, currency devalue/pegging
terrorist attacks, power-grid mishaps, political assassinations, etc, etc.
8) No overnight holds. Flat on or before RTH session end.
Same exceptions as #7 above.
Self-imposed position limits may be adjusted based on $1000 variances in account balance.
Self-imposed money rules may be adjusted weekly, based on account balance.
) PnL rather than a journal. Besides feeding (or destroying) my ego, maybe some newbies will be inspired to find their edge. Background
Son-in-law-owes me money. He offered me a mostly blown-up futures account for me to trade (no formal power of attorney however) until January 1, 2007. He assumes ALL tax responsibility.
Account Specifics
1) VERY SMALL approx $2300 :eek: :eek:
2) J-Trader :eek: :eek:
3) minis RT Commish (after renegotiation) 3.90
4) $500 daytrade margin (after renegotiation)
Trading Rules
1) YM and occasionally ER2
2) Self-imposed max positions, 2 YM, 1 ER2
3) Self-imposed max loss per trade, $90 + commish
4) Self-imposed max loss per day, $150 + commish.
If reached, done trading for AT LEAST that day.
5) Trades/contracts per day, no limits
6) RTH (regular trading hours) only!
7) No pre or after hours trading. Only exception is in the
case of exogenous events such as war/peace, currency devalue/pegging
terrorist attacks, power-grid mishaps, political assassinations, etc, etc.
8) No overnight holds. Flat on or before RTH session end.
Same exceptions as #7 above.
Self-imposed position limits may be adjusted based on $1000 variances in account balance.
Self-imposed money rules may be adjusted weekly, based on account balance.
fwiw, my primary account did fine, but not due to holding positions. :eek: