Trading e-minis with $1k starting capital

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...
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NO!, no critism

instead I applaud your honesty and revealing your details.

its called over trading,

those who have succeeded would never have allowed themselves to exceed 4 contracts or 8 contracts after all those losses, and breakeven gains and net overall loss on the day

its also called risk management,

start there, and ask others in your trading room that you participate in during the day, for advice....
 
limitdown is correct, risk managment is very important. that is what will keep you in the game or toss you out.

My opinion is increase the number of contracts slowly very slowly.

If you do that, you will be happy with your results
 
Quote from limitdown:

NO!, no critism

instead I applaud your honesty and revealing your details.

its called over trading,

those who have succeeded would never have allowed themselves to exceed 4 contracts or 8 contracts after all those losses, and breakeven gains and net overall loss on the day

its also called risk management,

start there, and ask others in your trading room that you participate in during the day, for advice....
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Those aren't the number of contracts he's trading at one shot, those are the number of turns he's taking on one contract.
 
yes but, the end result is the same, a loss. The main thing is you don't want to get slammed out of the gmae and can't live to fight another day.

I've been where he is now, and had it not been for a friend telling me what I'm telling him (and me listening to him), I would have not made it. And that is the real killer. Just do whatever it takes to get past the learning curve.
 
I am not meaning to be rude at all but I have been playing futures for 22 years and eminis for five years... it is not possible for you to make money starting with a grand.... it is not enough money to take risks and you need some breathing room
 
Quote from nlimit1:

I am not meaning to be rude at all but I have been playing futures for 22 years and eminis for five years... it is not possible for you to make money starting with a grand.... it is not enough money to take risks and you need some breathing room
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Yeah.

That's why we keep telling him to go to the NQ/YM, but hey, whatever.
 
Quote from nlimit1:

I am not meaning to be rude at all but I have been playing futures for 22 years and eminis for five years... it is not possible for you to make money starting with a grand.... it is not enough money to take risks and you need some breathing room
More...

I believe that what's more important than starting capitol is what you do with it, your system, strategy and risk management. I would rather bet on a trader who has a good system starting with 1K than someone who does not know what they are doing starting with 100K. Plus if the OP does not know what he is doing all that he will lose is 1K. For those of you who have read Reminiscences of a Stock Operator, how much did Livermore start with?
 
You might be able to do it in a slow market, but everything has to be perfect in this volatile market, and let's face it, if you were perfect you wouldn't have only 1000 dollars left in your account to begin with.
 
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