Johnny Rock's $100,000 Challenge

Your thread (I have read it) backs up what I am doing. Using the IBKR paper trading account - trading the micro contracts with the sizes I mentioned - actually removes the barriers you have suggested. Slippage on the MCL may be a concern, but slippage on the MES definitely isn't. Commissions are the same and IB takes that out.

So using 1M makes no sense. Trading, and scaling up, at 3k increments - momentum trades - will be a good indicator to my ability to trade with real money. I get real money is different, but if I can't exponentially grow a small paper account, I can't do it with real money. Obviously, the inverse doesn't apply. Real money equals REAL fear and greed. I get that.

 

It's not my thread.

And again I just ask a question...
why do so many newbies choose the same "learning" path, and then whine and complain when they land in the bottom trading statistics rungs?

Triple X <> 3x X 1
Good trades to ya Johnny.

 

I don't know the answer. I'm one of those bottom rung traders you speak of. I'm just taking another shot because I have evidence thru my paper trading that shows huge improvement and profitability since the last time.

But, I am going to give it more time in the PT account.

 

Johnny why don’t you try triangulating down moves and up moves to pinpoint likely reversals. If you learn to correlate triangulation as it plays out in the market cycle you might find the technique useful. It is not 100%, like anything else, but often times it works out.

 

the problem with day trading MCL (micro crude oil) is that the volume is going to be very low.
the mini crude oil QM volume is already much lower than CL volume.

 

That's a good point. Thanks

 

• Weinstein Market Cycle Stages

https://www.investopedia.com/articles/investing/070715/trading-stage-analysis.asp

Stage 4 is quick, easy money when we get there.

 

The QM is a failed contract because the parameters are all wrong. It's $12.50 per tick. 2.5 cents per barrel, versus 1 cent per barrel on CL ($10 per tick).

MCL this go around will be much more successful. Trust me on that.

(Remember, they tried it before 20 years ago, but that was a different time.)

 

Johnny -- You definitely Rock. Thanks for a good thread.

 

I found this elsewhere on ET. Start at 26 minutes in if you trade the micros or e-minis; puking opportunities coupled with "pace" of the tape signaling change.