I have decided that alongside with my more long term strategy i wanted to do some day trading again, so i have funded a small account with AMP.
I will be trading during both EU and USA session and these are the futures that i will be trading:
FDXS or FDXM
FGBL
FGBM
MGC
MCL
M6E or 6E
MES
MNQ
MYM
M2K
ZB
ZN
ZB requires $875 and FGBL $708.75, so i wont be trading those until i have sufficient margin and some more for the inevitable losing trade/streak.
I started trading my account on november 8th with a starting balance of $591.12.
Today, after 6 days in which i traded the balance of the account is $1184.42
I only trade around certain predefined price levels, so it could be that there are days without any trades at all if those levels are not reached however most of the days i will have a minimum of 2-3 valid signals. I only will trade those signals if i feel that volatility and momentum are sufficient, i try to avoid ranging and choppy markets. I don't mind missing a few signals because of that, i don't fear FOMO. I prefer to miss out on a few trades rather than taking on to many trades, since the balance is so low, i cannot afford a losing streak so i have to be more picky. However this doesn't mean i will always be satisfied or can't be critical of my performance, for example last trading session, november 19th, i only managed to end the day at BE, even though there was sufficient momentum and volatility, i missed quite a few decent signals. I could have made a few very very nice trades, but i am capable of letting that go, it won't affect me in any way during that day or in the future, i know there will be plenty of other signals later on in either the same day, or in the next trading day.
Once the balance starts to grow (hopefully), i will be able to take on more signals and i will also be able to scale in, take partial profits to let the remainder of the position run as long as the momentum is good. For now i will close my position entirely once i feel momentum is running out instead of letting it run to avoid giving to much profits back, the size of the account doesn't allow that yet.
On average i am risking up to 5% of the account per trade, very risky, but i know my entries will have high probability if i execute them right and stick to the plan. However i do not recommend most traders to do the same, since the losing streaks will be hard to handle. Once the balance starts to grow the risk per trade will get smaller, however i am not sure yet when that point will come.
I am not sure yet if this will be a daily journal, or something i give an update on every now and then. Maybe some charts will follow as well, later on, however this won't be a journal in which i reveal all the details of my trading system. It is a journal for me and to hopefully show that it is possible to grow a small account which is a much better idea compared to trowing money at those fake prop "funding firms".
If you can't do it on your own with a small account, you won't succeed at those firms either. If you can do it there, you are better of with your own account anyway.
I will be trading during both EU and USA session and these are the futures that i will be trading:
FDXS or FDXM
FGBL
FGBM
MGC
MCL
M6E or 6E
MES
MNQ
MYM
M2K
ZB
ZN
ZB requires $875 and FGBL $708.75, so i wont be trading those until i have sufficient margin and some more for the inevitable losing trade/streak.
I started trading my account on november 8th with a starting balance of $591.12.
Today, after 6 days in which i traded the balance of the account is $1184.42
I only trade around certain predefined price levels, so it could be that there are days without any trades at all if those levels are not reached however most of the days i will have a minimum of 2-3 valid signals. I only will trade those signals if i feel that volatility and momentum are sufficient, i try to avoid ranging and choppy markets. I don't mind missing a few signals because of that, i don't fear FOMO. I prefer to miss out on a few trades rather than taking on to many trades, since the balance is so low, i cannot afford a losing streak so i have to be more picky. However this doesn't mean i will always be satisfied or can't be critical of my performance, for example last trading session, november 19th, i only managed to end the day at BE, even though there was sufficient momentum and volatility, i missed quite a few decent signals. I could have made a few very very nice trades, but i am capable of letting that go, it won't affect me in any way during that day or in the future, i know there will be plenty of other signals later on in either the same day, or in the next trading day.
Once the balance starts to grow (hopefully), i will be able to take on more signals and i will also be able to scale in, take partial profits to let the remainder of the position run as long as the momentum is good. For now i will close my position entirely once i feel momentum is running out instead of letting it run to avoid giving to much profits back, the size of the account doesn't allow that yet.
On average i am risking up to 5% of the account per trade, very risky, but i know my entries will have high probability if i execute them right and stick to the plan. However i do not recommend most traders to do the same, since the losing streaks will be hard to handle. Once the balance starts to grow the risk per trade will get smaller, however i am not sure yet when that point will come.
I am not sure yet if this will be a daily journal, or something i give an update on every now and then. Maybe some charts will follow as well, later on, however this won't be a journal in which i reveal all the details of my trading system. It is a journal for me and to hopefully show that it is possible to grow a small account which is a much better idea compared to trowing money at those fake prop "funding firms".
If you can't do it on your own with a small account, you won't succeed at those firms either. If you can do it there, you are better of with your own account anyway.
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. Also, liquidity becomes an issue at that point, but that is a problem i wouldn't mind having 
.
