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Trading e-minis with $1k starting capital
- Thread starter IndexScalper
- Start date
Quote from fearless9:
I have been trading in one form or another for twelve years ... started with Fx, and onto indexed futures and finally only ES.
There are three distinct periods.
First seven years were typical of a traders startup .. make some, lose some and eventually crawl onto the right side of the ledger.
My results were beginning to show good consistency.
Next three years, the penny was buzzing around my head there had to be a better method.
All the time my strategy was becoming more refined and my numbers were improving.
Two years ago, the penny finally dropped.
I discarded everything except for the screen images of the ES price burnt deep into my slow-to-learn head.
When I say "burnt" I mean burnt from thousands of hours of watching the price.
I went back to the tic and reformated a very very simple strategy ... heavens, even I can follow it.
Now when the ES turns, my little old limit is sitting right there waiting patiently for it.
For the most part, I am pulling tics from the noise. I like the the noise, I feel as safe as one can feel trading ES.
When the price drops , I am all over it.
I love the drops, they are fast and relatively secure.
When price is climbing I am very nervous because this is where the black swans nest and lay their eggs.
Quite the reverse of most postings here on ET I am sure.
However, when you prepare or review your list of all the things that can go wrong, you will notice that it is asymmetrical.
Fear outweighs greed always.
And so I ratchet up my account each day as best I can.
Anyway, I pass this on to those who are interested for what it is worth.
regards
f9
Interesting comment about market dropping look at BSC and LEH.
If I were the OP I would only trade in the direction of the trend, may cut down on whipsaw.
HAHA F9 with all your refences to rugby you must be from NZ or Aus??? great comments thow btw.
As for you IndexScalper good luck mate, its ashame so many of us on here have no faith in anyone turning 1k into anything, i guess in reality it is a very tough task to do. But even if it does take abit of luck from the start, if you have that right attitude then theres no reason why you can't get that bit of luck.
You mentioned earlier that psychology was one of your weak points, have you ever read the secret???
As for you IndexScalper good luck mate, its ashame so many of us on here have no faith in anyone turning 1k into anything, i guess in reality it is a very tough task to do. But even if it does take abit of luck from the start, if you have that right attitude then theres no reason why you can't get that bit of luck.
You mentioned earlier that psychology was one of your weak points, have you ever read the secret???
Don't pay attention to all of the negativity. People have a habit of deciding what can and can't be done based on their own limitations. I know it can be done. The question is can YOU do it? The people who have said the key is psychological are correct. Never trade emotionally and always stick to your gameplan. I say this from experience because I have made and lost large amounts in a small account, and have blown out accounts because of lack of discipline/psychological issues. In retrospect, I know that if had I been more disciplined, I would have succeeded where I failed, made money where I lost, and kept accounts where I had blown them out (too many).
LOL, I've been around long enough to know there are no secrets, holy grails or magic formulas in trading. Nice try!Quote from Macca1:
HAHA F9 with all your refences to rugby you must be from NZ or Aus??? great comments thow btw.
As for you IndexScalper good luck mate, its ashame so many of us on here have no faith in anyone turning 1k into anything, i guess in reality it is a very tough task to do. But even if it does take abit of luck from the start, if you have that right attitude then theres no reason why you can't get that bit of luck.
You mentioned earlier that psychology was one of your weak points, have you ever read the secret???
I rate myself on a scale of 1-5, 1 being the lowest and 5 the highest score. Basically if I break any of my rules I subtract 1 point. If my rating for the day is 3 that means I broke 2 of my rules (I have 5 major rules).Quote from limitdown:
what is discipline = 4?
what were the other key points you would mention?
Quote from IndexScalper:
I rate myself on a scale of 1-5, 1 being the lowest and 5 the highest score. Basically if I break any of my rules I subtract 1 point. If my rating for the day is 3 that means I broke 2 of my rules (I have 5 major rules).
good morning IndexS, welcome to the start of another good week.
If you dont mind me saying so, I think that you are doing yourself a grave disservice by rating yourself.
You cannot allow yourself to be anything other than a slave to your own strategy if you possibly hope to succeed.
Nothing less than 100% adherance is acceptable.
By doing this you remove a variable from the equation.
regards
f9
Quote from IndexScalper:
LOL, I've been around long enough to know there are no secrets, holy grails or magic formulas in trading. Nice try!
LOL idiot!!! The secret has nothing to do with trading or magic formulas. Its about psychology, go get it out from the library or watch the DVD, it might actually help.