$2,000 to $200,000 in 2020 at 2.00% per day.

Glad you are doing well! As you know, it is always nice to be done early on a Friday! Enjoy your weekend! I have completed 3 days in my Earn2Trade evaluation and am about 1/3 of the way there! Very pleased so far!!!

 

Big Congrats.

The "funding company" route can work well for guys and gals who know what they are doing. Clearly you are in that highly exclusive club. Keep up the great work! The following does not apply to you.

And now for the new traders--

I want to clearly state in my public journal for any new traders-- PLEASE don't sign up for Top Step, OneUp, E2T, LeeLoo, or any other company. I did a survey of guys I know who are using them (or have used them) and the average spent on subscription and "reset" fees was over $7,000. My own total is higher.

Instead, save your money and follow this plan:

1. Open an account with AMP Futures (or any other discount broker).
2. Trade on sim with great discipline until consistently profitable.
3. Trade live with ONE micro index future. I recommend MES.
4. Once you are consistently profitable, then begin to scale up gradually with one micro per $1000 in the account.

That's it! Don't give subscription fees to these companies. Don't give reset fees to these companies. Don't give 20% of your income to these companies. Be independent and come out ahead.

This is one of the reasons I started this journal -- to show how a beginning trader be successful without getting sucked into the funding vortex.

Trust me on this one. Go with the micros.

 

You trade conservatively to reduce draw down and that is very recommendable.

2% per day could be easy or tough depending on how much leverage you use. in your scenario you use 1 MES for $1000, that mean you need to get 4 full points MES for $20. In days very that are very volatile like recently it is feasible, but in days with flat market ES moved in a range of 5-6 points people would be glad they can get 2 points in those days.

On the other hand, if you go with 1 MES per $100 (AMP day trade margin is about $50 per MES), then you only need to catch 2 ticks, that would be super quick (10 to 20 seconds or less in general), and there would be many trading windows on every single day so you can pick a time of your favorite. Point is, if you have a proven charting that is precise and reliable, then higher leverage can offer a much more efficient outcome.

Of course high leverage is a double edge sword and unless you have the skill, confidence and proven record, it is not a wise way to use in this business.

 

I am in the UK. Would TradeStation be a good company to get one's feet wet with Micro Futures?

 

Maybe.

You can test out AMP or Ninjatrader Brokerage also. I use the latter and am based in Europe.

 

TIME TO FOCUS.

I just closed two real estate deals, and things finally seem to be picking up for me. I have also done well trading in the last week, and I am eager to keep growing my account gradually.

I am up about $405 in 6 trading days on a starting balance of just over $5000.



But I am far from out of the woods - the coronavirus woods - and the pile of bills has gotten crazy deep.

I recently posted that I needed to keep my Elite Trader entries short and posts less frequent, so I can really focus on taking care of my family.

But it is time to go a step further.

I know this is strange, considering I just started posting again after a multi-month hiatus, but this is what I need to do.

While I have really enjoyed sharing my journey in this journal, after much deliberation, I have decided to stop posting completely.

This journal is now done.

Elite Trader is a great forum, and I appreciate the many comments that were made. Many of you shared great insights.

And I hope that what I wrote in the last 70 pages has been able to help some newer traders shorten the long learning cycle - at least a little bit.

I wish you all great success in your trading.

Thanks again.

sstheo

 

Wise move. Focus on building better strategy and better implementation of it. Daily profit or loss is just a noise. Posting regularly is a lot of distraction and adding unnecessary mental burden to yourself.

 

Damn..there goes another one. I like posting monthly. Just enough to keep me motivated and infrequent enough to not be distracted by day to day market bullshit. At the end of the day, you're just amongst degenerate losers, so no need to feel "pressure" to perform..

 

Based on his performance he seems to have an outstanding strategy already? Not sure where he would form here?

The thread title sounds ridiculous/delusional, but then much to my surprise, and I'm sure many others' he was actually doing it. Sad that it's not going to continue. Would have loved to see it continue into the five and six figures.

 

In recent times @sstheo and yourself stand out amongst the crowd. Certainly please keep posting!