Trading e-minis with $1k starting capital

I'm very upset about today. After being up 240 in the morning I lost everything and then some in the afternoon. I got my a** handed to me on ER2. I should have listened to previous posters that recommended to stay away from it.

Today, I traded NQ for the first time. Even though I made a bit of money trading it, I don't like it at all. The $5 tick really bothers me.

I'm really hanging by a thread and there is a good chance that I won't make it, therefore, I need to make a radical change.
Starting tomorrow I will concentrate mainly on the ES and limit my ER2 activity to a minimum. I may still trade it pre-market where I've been making money consistently.

Products traded: ES, ER2, NQ
Contracts: 58
Opening balance: 977
Closing balance: 829
Net P/L: -148
Discipline: 2
 
Quote from IndexScalper:


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I still have to be very careful initially since my broker can cut me off when my account falls below $800 or so.
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More...

Quote from IndexScalper:

I'm very upset about today. After being up 240 in the morning I lost everything and then some in the afternoon. I got my a** handed to me on ER2. I should have listened to previous posters that recommended to stay away from it.

Today, I traded NQ for the first time. Even though I made a bit of money trading it, I don't like it at all. The $5 tick really bothers me.

I'm really hanging by a thread and there is a good chance that I won't make it, therefore, I need to make a radical change.
Starting tomorrow I will concentrate mainly on the ES and limit my ER2 activity to a minimum. I may still trade it pre-market where I've been making money consistently.

Products traded: ES, ER2, NQ
Contracts: 58
Opening balance: 977
Closing balance: 829
Net P/L: -148
Discipline: 2
More...


Quote from SicilianTM:

It sounds like psychology will be your downfall, not your account balance.
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Quote from osorico:

You broke YOUR daily max loss rule.
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Switch to NQ or YM. Your goal is 2-fold...
1) Stay in the game
2) Grow the account
In that order!

Good trading to you
Osorico :)
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Anything worth saying has already been said.

Osorico
 
Quote from IndexScalper:

Products traded: ES, ER2, NQ
Contracts: 58
Opening balance: 977
Closing balance: 829
Net P/L: -148
More...

Commission is about $240 with 58 contracts, so you actually made a little money, like $90, but the commission killed you, because it took you 58 trades to make a bit less than 2 ES points. That's why you were negative for the day...

Also you should have started out with a broker where the margin minimum is $500, so you would have had an extra $300 cushion before you have to stop trading....

It is possible you would make it if you start out with 3K...
 
Quote from Pekelo:


It is possible you would make it if you start out with 3K...
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It is possible to make it but highly unlikely without blowing his account a few times.

Good trading to all :D
 
Quote from Pekelo:

Commission is about $240 with 58 contracts, so you actually made a little money, like $90, but the commission killed you, because it took you 58 trades to make a bit less than 2 ES points. That's why you were negative for the day...

Also you should have started out with a broker where the margin minimum is $500, so you would have had an extra $300 cushion before you have to stop trading....

It is possible you would make it if you start out with 3K...
More...
You are correct about the commission Pekelo, however what killed me was excessive loss on ER2. My net gain on ES was 305 which is 6 points after commissions.
 
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