1% a day and MM

tango29 · Dec 5, 2003

I think thats goal.

tango29 · Dec 5, 2003

Net = $220.8, goal was up to $190 so good and done with this for the week. Not going to try and make up for yesterday.

Siwash · Dec 5, 2003

For another good week!

limitdown · Dec 5, 2003

Quote from tango29:

I'm going to try something different. I am going to have an extra account where I start with $15000 and see if I can grow it at 1% a day. I'm going to stick to round numbers for the most part, as in if I am at 15750 acct size I'll take $150 net as equating close enough to 1% for the day. Then at $16000 I'll bump up to $160, and so on. I'll start with 2 contracts of the es, nq, bonds, or whatever works for the day. If I grow the account, I'll add a contract at $1000 net, new total + $2000, new total + $4000, etc. So if all goes well add at $16000, $18000, $22000, etc. If this can get up to 10 contracts, I'll reevaluate at that time. I will also reduce a contract if I dip $2000.
My methods are based on price, support and resistance, and trend. I normally fix a target for the 1st contract, and trail the 2nd, and I am at this point going to stick with this as opposed to getting out as soon as 1% net is made. As size grows I may use extra contracts to lock in the goal and then trail whats left. I'll try to post as soon as I hit goal, but I am trading throughout the day, so if busy it will wait. I will at least try to post times of entries and exits with the prices.
Why? Because I want to try something different. I followed Ryan Jones for a bit and am using and offshoot of his Money management. I never have seen him make it back to the top of the trading competitions he enters, so my guess is something is flawed with his MM, or his methods(or both). In the past after all the regular head games involved in trading I found moving to the next contract to be very difficult, and haphazard. I still see a hurdle at around 10 contracts if this works for whatever reason, but am going to give it a go.
Why post? Why not, if people don't want it ask the moderator to kick me out :eek: Otherwise I'll start posting them tommorow.
More...

nice business plan

don't let the market get in the way of your plans...

or should we say, don't hold too tight to your plans and allow for the market to do what its going to do anyways....

tango29 · Dec 5, 2003

I have found that I do let this plan get in the way of what I normally do in most of the trades where I am profitable. I still go back and forth as to whether this should be strictly an experiment , or I should trade it more like my regular account. I get to thinking either way its my money, so why cut a trade short and risk missing a run. At the same time I don't want to miss another trade because I doing this experiment. At this point I'm going to stay the course as all is working out, ie I'm making instead of losing. See ya Monday.

tango29 · Dec 8, 2003

No fill. So far this hasn't been bad as bonds seem to be going no where.

tango29 · Dec 8, 2003

Missed that one. Still on the sidelines.

tango29 · Dec 8, 2003

but haven't yet.

tango29 · Dec 8, 2003

late!!!!!!

tango29 · Dec 8, 2003

all off at ^2. I took the trade in both accounts, so holding in the other and see what happens. Net =355.8.