LOL...no, my acct is not $13K. I was talking to LSU and told him I intend to allocate $10K/contract once I've setup my LLC. So if I average 2 ES pts per $10K of capital, it equates to an over 200% yearly return. As far as my acct size, don't worry, it's enough to do decent size and a lot of damage to my acct -Fast
I just thought I was being smart... I know what you mean about your acct size being big enough to do a lot of damage... That's what futures are for...
As you know, ES didn't take off until after 10:00 AM, and I leave for work around 9:45ish so I missed that. The afternoon I shouldn't have missed since I was home for lunch at that time. But again, I exit quickly because I do have to head back to work and can't put on a position and then properly manage it -Fast
Why not use a proper bracket trading software like ButtonTrader, then walk away and let the position manage itself? Could make you more successful at trading than you'd even dream of! (!)
Sci, Don't you think there's value added in managing your position, reflecting changes in the market during holding the position? Btw. cool journal!
My platform does not currently support OCO orders so this is not possible. Plus, I would like to properly manage a position, i.e. add/remove contracts as I see the conditions change. -Fast
t4s, Sure there is - Provided you're a seriously good day trader. Otherwise, "position management" can easily turn out to be "position mismanagement". If you aren't scalping, then you can indeed put on a good trade with a decent R:R ratio, set a stop, set the target (or partial targets) and walk away. Saves you a lot of stress and temptation to intervene because of "little things" like tape prints and noise and stuff. Unless you're a "noise trader" yourself (like both of us are), then you can indeed trade like that. Remember, the point of a day trade is to put on a good trade, and then let the market work for you, instead of working for the market.