You don't need a ton of capital to make this work. I started with $5k in Jan and spent 4 - 6 weeks bouncing around and went down to around $3k. Back to the sim for a few weeks to figure things out, then jumped back in and went steadily up to $12k (as of Friday). The good thing about starting with a small account is that your level of stupidity is limited. Even if you want to you can't hold onto a losing position over night or revenge trade by tripling down. I think the worst thing to do is to start with a large account as you will eventually do stupid trades, over-leverage and loose it all. Hang in there and get back in the game in a small way. Whatever you do, don't chase breakouts and focus on buying pullbacks in an up-day and vice versa, keep it simple. Good luck.
You are right he doesn't need a ton of capital but he needs a ton of screen time without trading real money. I am betting against him as I truly know the odds are against underfunded traders. You start guessing what trades to take instead of taking all the signals.
The odds are against any trader as most lose anyway, regardless of the account size. At least with a small account the losses will be limited while still having a chance for success. I agree screen time is a biggie, I have thousands of hours studying the markets in various capacities (was an Institutional buy side trader for 20 years).
It be even more difficult to have $1200 for any trader, I see heavy stress with this low and then trying to cherry pick trades, newbies brains are not use to profitable trades so brain looking for happy trades that lose.
In order to trade 1 ES contract, you need to have a total of at least 50K in TLNW (total liquid net worth) .
Add in - once in a trade..., it goes against Ya - instead of allowing it to work out - exit Gotta protect what little capital I have - aka trading scared money ================ Inexperience (X) inadequate capital = absolute disaster in the making But then..., very few willing to spend the time / effort to learn.., save up ample capital Instant gratification..., laziness..., the appearance of being deceiving easy - being what it is ================== Eyes gots ma carz ready fer sellin t-marrow One ownerz / egg-stra low milede Gar-en-teed to runz till dey don'ts eny takerz RN
I seez you gots them EGG car again likes last ears. https://en.wikipedia.org/wiki/Egg_(car) and I likes this ews madil evens more Nice touch with squarres steeren wheel. Am a thunken you gots to go reel slow on them curves and bumps of yours gonna crack em shell.
Am guessing Ruben not posted for 17 days he took your advise? Balls to the wall, I don't care and died? One think to have short funds, well back tested Trading Plan, fear of pulling the trigger and another to have short funds and loosely Trading Plan and no fears.