Day 14, 04/01/08 +$446.70 Bal. at $20,014.80 this brings the blotter current and todate. For the 14 trading days, the account is up $2,014.8 or %11.20 that averages to 0.8% per trading day(22 trading days = 1 calendar month). Behind the average goal but no worries, since I am not compounding, if I don't blow the account, catching up will be easy. p.s. the vote stands at +63%/-37%(+147/-87), I just can't understand, why so many persons think it is possible to average 2% per day on a 20k account!!!!
I think you've proven that on any given day, 2% is possible, but also that to average it, even with no slippage due to small numbers, isn't going to be easy. I think you'd be better off going for a 1% average on a $100,000 account. At least you could live off the profits if you succeed. BTW, you're doing a lot better than I would have expected.
I agree 100% with your comments below. In fact this is a pilot project to convince myself that I could average 2% per day on a smaller account to then gor for even say .05 to 1.0% per day on a 400k account, which as you have pointed will suffice for a comfortable life. Although I would not be convinced to invest those amounts before I could do this first. For example that big loss worries me and I'd like to see itnot happen again in the next few weeks...
Yeah, that's a good way to go about it, I think. Don't forget to take some of the profits off the table so if things ever stop working, you have yourself set for life already, anyway. It will give you a lot more confidence trading when you know its not required to survive comfortably.
dun4dedei! must struggle with some API programming... +$420.60 with 66 trades(Berni didn't make it easy...)!
Day 15, 04/02/08 Interesting, yesterday also ES closed at 1370! The resistance I had mentioned was as strong as I had said it would be. Well, here is a perfect example of why a single Xover Stop Loss does not work...price has yo yo'ed around it like a 10 year old!
Another interesting day trading journal. I have voted YES to 2% per day. Question for TradStSOX - when you started the thread/poll, what were your expectations - did you think that averaging 2% per day over a 3 month period was realistic?
Yes, I do expect to be able to do this at least for 3 months. I need to make sure I have gained enough discipline to avoid impatience, greed and follow rules.
Great going, TradStSOX! About pairing : do you enter the offsetting/hedge trade manually or automatically? Without giving away anything about your system, can you describe your journey till here? Any words of advice would be appreciated.