$2,000 to $200,000 in a year means you need to double your account every 7 weeks. So far you have failed.
Why do you think I have failed? It has been 4 weeks today, and I should be at $3,400 by the end of the day. Once I get to $4,000 then I will have doubled the account. I should be at $4,000 by week 5.
very nice! btw, in case you forget what day of the week it is, you could populate your "B" column with auto text script =TEXT(C3,"ddd") and it will automatically fill the cell with date to day of week conversion from column C. i was working on some nested "if" statements at one point and decided i was spending too much time messing with it and never finished. the idea was to just have cells populated "if" something else was.
We aim to please. Want some pizza and Coke? (I only said "realistic" because my daily average for 4 weeks now is 2.8%)
I just had a great conversation with a mentor of mine. Even though he is in his 70's, he still trades every day and loves it. He showed me his charts and I had a flood of great memories. He says trading keeps him sharp. It was so fun catching up. It also reminded me of how much I still follow what I learned from him. Some of these things I learned I have even talked about in this journal already: 1) Try to keep your charts uncluttered, and use as few charts as possible. The less your brain has to process, the faster (and better?) your decisions. 2) Most traders choke in range conditions, always looking for a breakout. Instead, take several small trades toward the mid line of the range until there is a true breakout. 3) Trade only the first two hours of the US session where the high volume gives some momentum. 4) Once you reach your goal for the day, stop. Don't risk giving back what you have earned. Come back the next day refreshed. 5) Watch the support and resistance levels, and anticipate a pause or reversal when reached. 6) The head and shoulders pattern is a fairly reliable signal, even on small time frames. 7) Scalping is a viable way to trade, despite the commissions, as long as you have an edge. 8) Always have an emergency stop in place. 9) Trading, done well, can be profitable and fun. I am sure there were many more... Trade well everyone!
Agree. The Pareto principle - Less is more. The majority of results come from a minority of inputs. Disagree. What if you buy at the middle and it break lower ? If you don’t know then don’t trade. While neutral it’s better to trade from extremes towards the middle. Reverse or Get out at pull back. Agree. Same as #1. Volatility is the bread and butter of day traders. Half Disagree We trade probabilities. Each trade has its own probability. You just don’t know when a loss will occurs. A loss is fine. A negative expectancy is stupid. Half Agree We’re all too human and we ain’t our system. There are factors such as fatigue that can work against us. Maybe. I myself don’t take time into account. Only levels and the back and forth of the market. IMHO prices are more robust than time as prediction. Maybe. Agree. But what does scalping even means ? What’s the scope ? Where are the limits ? What matters is profitability and risk management. Agree. Sh*t can happens. Electrical breakdown ... Price going wild opposite direction. Anything that works towards survival must be done. Trading done well is of great value outside the trade itself.