To be fair to you, as you have been on the site for a long time I will explain, and push that MacBook guy to the side. In this guise, I can only explain it through my eyes. What will happen is, as you increase size over time, you will start to see larger and larger swings in your PnL values. Along the way, you will start to question your stops and targets more and more, because the psychology of those monetary swings will eat at you. You start small, you have your stops and targets at X. As you increase size, all you are going to focus on is the amount of value your account is gaining or losing each day, so you will be + and - on the stops and targets, and the DYNAMIC of that will eat at you. Unless you are an emotionless robot. And I am sorry to inform you, you are a human being. You are not an emotionless robot. Anyone who tries to tell you otherwise, is selling you a system. So you will be frantically reworking your stops and targets to try to mitigate loss, and perhaps attempt to catch more profit, as the size increases. That is NOT fun. That was my whole point. It will NOT be fun when real money is on the line, and you try to discover your break point.
Thanks, I don't use stops or targets so that dynamic is not in play but I will be watchful of trying not to focus on the daily P&L. Someone maybe even in this thread posted an article on this very topic of how watching the open Profit is very negative to trading so I will take this seriously. Anyway if it gets to be "not fun" as you suggest that is a warning as well.
I saw that comment also, don't recall where it was, but here's the thing. The better you get at trading, the less effect "watching" the PnL is going to be, because you will always be calculating in your head what your open PnL is at any given point. I know exactly what my open position is on my current Sep 22 MYM long. It is at 33861. So if I were to add another contract at 1000 points down at 32861, my average long position would be two contracts would be at 33361. I am ALWAYS mentally calculating where I am as I look at the market. In front of the charts' PnL windows, you can do tricks like put up points instead of dollars, or percentage of account, but that never worked for ME, because my mind is always recalculating that sort of thing.
Honestly, I don’t have any such goal now. I just want to make double the amount I make at my day job. So, I can quit my work!
Everyone...wants to quit their work...and somehow, Magically, make double or triple or quadruple or a million or more of their income from home trading the market like a Wizard in a Hat, with a Cat. I'm not necessarily saying it's impossible or hard, but you have to understand and define what you plan to accomplish, reasonably. Separate yourself from the dreamers and amateurs out there...who are definitely a dime a dozen.
For the guy asking for trades as one more example. It was a tough morning so I will just be glad I got lucky.
Anyone here can quickly post a spread sheet with made up numbers. You could at least spend some time faking a brokerage PnL screen shot for us.
Shame to not see entry and exit though. These are some mighty fast scalps! I'm trying to learn over here how to enter more precisely.