Challenge of Weekly Profit trading Futures

Discussion in 'Journals' started by Trade4gainz, Aug 12, 2018.

  1. Peter10

    Peter10

    Trade closed @2841.75
    profit: $1,300
     
    #61     Aug 13, 2018
    Trade4gainz likes this.
  2. Trade update starting balance $50k

    current Balance $50160 = realized gain $160 for today
     
    #62     Aug 13, 2018

  3. what was your position size? could you update
     
    #63     Aug 13, 2018
  4. Peter10

    Peter10

    2 lots,, buy, entry @2828.75, exit @2841.75
     
    #64     Aug 13, 2018
  5. CALLumbus,

    How long would you recommend someone stay in sim?
     
    #65     Aug 13, 2018
  6. Until you have proven that you can trade trough different phases of your market(s) and make consistent profits.

    It is easier for a scalper, who makes dozens of trades a day, than for a swing trader. A swing trader might sim trade for half a year, make good profits and think that he "got it". But because of the relative low number of trades a swing trader makes in that time, it might also just be pure luck.
    A scalper who does many trades per day will realize much sooner if what he does makes sense or not. But even if he seems to be consistently profitable, he should keep practicing or at least trade with small size until he has seen a few different cycles/phases of his market.
    Someone who started scalping NQ in February this year and traded it for one month might think: wow, this is the easiest game ever, I will pile on the money in no time !
    But February and March were the exception, and only experience will tell you in which phase of the market we are in and how to adapt your trading.

    So there is no simple and easy answer to this question. But for a scalper I would say, stick for at least 3 months to sim, but a sim with good, realistic fills. Then, if you are consistently profitable in sim, you might switch to live trading, but I would suggest to keep the size small for the beginning. Trade 1 contract for the next 3 months, even if you make consistent profits. Then after another 3 months start trading 2 contracts, and from there you can slowly reward yourself with additional contracts, for example for every profitable month you add one additional contract.
     
    #66     Aug 13, 2018
    SimpleMeLike likes this.
  7. Trade Update Starting Balance $50k

    current Balance $50428 = Realized Gain $428
     
    #67     Aug 13, 2018
  8. Real account trade
     
    #68     Aug 13, 2018
    Peter10 likes this.
  9. 2nd real account trade.
     
    #69     Aug 13, 2018
    SimpleMeLike and Peter10 like this.
  10. That one will go down in flames this week :)
     
    #70     Aug 13, 2018