Trading e-minis with $1k starting capital

Bad day. Everything went wrong as soon as the market opened. ER2 was totally out of whack the first 5 min, enough for me to get whipsawed a couple of times and blow my max daily stop loss. To make matters worse, I didn't stop trading right away and the end result is as follows:

Product traded: ER2
Contracts: 13
Opening balance: 1,460
Closing balance: 1,113
Net P/L: -346
Discipline: 2

Feel free to comment, expecting well deserved criticism...
 
Quote from IndexScalper:

There are plenty of brokers offering $500 margin or less.
Forex? No thanks, no edge there whatsoever for retail scalping. Doesn't the fact that almost all FX brokers offer "no commission" trading sound a bit fishy?
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You are confusing what I said. Starting Required account balance and intraday margin are 2 different things. I trade at TransAct and trade with $500 intraday margin for most products, but they won't open an account with less $2,500 starting balance. The title of thread is starting with $1k and I wish anyone good luck in finding a futures broker that would open an account with 1k starting, they won't it's not worth their time and effort. The reason I said forex is they will take anyone with a few bucks which is what $1k is in the futures market.
 
Quote from IndexScalper:

Bad day. Everything went wrong as soon as the market opened. ER2 was totally out of whack the first 5 min, enough for me to get whipsawed a couple of times and blow my max daily stop loss. To make matters worse, I didn't stop trading right away and the end result is as follows:

Product traded: ER2
Contracts: 13
Opening balance: 1,460
Closing balance: 1,113
Net P/L: -346
Discipline: 2

Feel free to comment, expecting well deserved criticism...
More...
go for it!
 
Quote from IndexScalper:

Bad day. Everything went wrong as soon as the market opened. ER2 was totally out of whack the first 5 min, enough for me to get whipsawed a couple of times and blow my max daily stop loss. To make matters worse, I didn't stop trading right away and the end result is as follows:

Product traded: ER2
Contracts: 13
Opening balance: 1,460
Closing balance: 1,113
Net P/L: -346
Discipline: 2

Feel free to comment, expecting well deserved criticism...
More...

The only ciriticism is your starting balance. It causes you to have to make perfect trades. You had a losing day. No big deal. Go get'em tomorrow.
 
Quote from IndexScalper:

Bad day. Everything went wrong as soon as the market opened. ER2 was totally out of whack the first 5 min, enough for me to get whipsawed a couple of times and blow my max daily stop loss. To make matters worse, I didn't stop trading right away and the end result is as follows:

Product traded: ER2
Contracts: 13
Opening balance: 1,460
Closing balance: 1,113
Net P/L: -346
Discipline: 2

Feel free to comment, expecting well deserved criticism...
More...
*******************************

1. Stop ,pause ,clean the head

2. After that only one contract en ,only in NYX opening hours

9.30-10.30




... 1-1.5 point risk for 3-5 points reward
trailng stop different ,depend from your personality

3. Not more as 3 attempts per day ,independent
all win or all loss or combination

4.Try catch any correlation betweeen en and qqqq
es,spy,dia ,eym

Your respectfully ....

Disclaimer -Author is good only in 20%-35% of all case *s
Personality of the author is not suited to give any trading advice

All trading contest*s ,which was performed from author with price money in Germany and USA was used solely very high risk
(100%) approach and mutiple attempts.
 
The only ciriticism is your starting balance. It causes you to have to make perfect trades. You had a losing day. No big deal. Go get'em tomorrow.

***************************

Depend from objective . If objective perform record -
than great reward related to great risk

100% risk

If objective risk management ,operator acitivities false

GS not riskied in any day more as 2% company capital ...

ER is not instrument for low risk trading ,no doubt


Your respectfully
 
Quote from dandxg:

You are confusing what I said. Starting Required account balance and intraday margin are 2 different things. I trade at TransAct and trade with $500 intraday margin for most products, but they won't open an account with less $2,500 starting balance. The title of thread is starting with $1k and I wish anyone good luck in finding a futures broker that would open an account with 1k starting, they won't it's not worth their time and effort. The reason I said forex is they will take anyone with a few bucks which is what $1k is in the futures market.
More...
Sorry dandxg, I misunderstood your post.
Yes, you're right. Starting balance to open an account is higher. My account was initially funded with a much higher balance. I basically blew the account and decided to do the experiment with 1,100 instead of a higher amount.
 
can't criticize cause you lost,that happens, notice you traded a lot less, so compliments on that, and you probably didn't trade afternoon because of your max loss, if those are the reasons, congrats on your discipline
 
3. Not more as 3 attempts per day ,independent
all win or all loss or combination

***************************

If that would not going with success ,lower trade instensity

1 attempt per day
1 atempt per 3 day
1 attempts per week

Losing streak with 30 consecutive loss is not very rare ...

Game theory ,it can not be avoided ... Alsov for successfull
operator .

Only ,what is possible lower position and trade intensity untill
minimum .in combination with multiple trading pause*s
 
Quote from IndexScalper:

I know what you're thinking... another piker setting himself up for failure...
I've been contemplating to start a daily journal for a long time,
More...

quite the opposite,

this is a very wise, well planned move,,,

don't denegrate yourself with those loser titles that other losers call other losers....yeah, a vicious circle...

think positive and grow rich....
 
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