That's basically the same strategy I was suggesting, except that at one contract you don't have the option of scaling out half your position. An issue with trying to make consistent profit is that there's no guarantee that it'll always be like that. Another issue is that $100 per day is not big money. Your cost of living can be higher than that. With a small account you don't have much choice but to try to hit those homeruns when you see one. On the upside, losing 100 is not a big deal imo. You can make that back working one day at a job.
Let's say in an 8 hour period, you make exactly $100. $100/8hrs = $12.50/hr. $100 trading the ES is 2 pts, let's say it takes 20 minutes for your trade to hit your 2 pt target. 60 minutes in 1 hr/20 minutes = 3 20 minute intervals. $100 (in 20 minutes) x 3 (3 20 minute intervals) = $300/hr. If you were to generate $100 every 20 minutes over the course of a "real working day" you'd effectively make $2400 a day or roughly $624,000/year. You're working 1/3 of an hour of a full day's work to make $100 in 20 minutes. You can't make big money unless you're well capitalized. Like I said, consistent profitability of small wins will you get there in time. If you have the mindset that $100 is peanuts, then you will never survive. If you want to hit that homerun tomorrow you're probably better off going to a local convenience store and playing the lottery because that is basically what you're doing. If you're consistently profitable and are able to trade 5 contracts per day at 2 pt targets, before commissions, assuming 20 trading days per month, you can make ~$120,000 per year. Throw in a few curveballs with scaling out, letting your other half swing to larger targets and you're talking about some big bucks. I'd enjoy $120k/yr. The first step is controlling your risk and controlling your mindset.
I haven't set a limit but I probably should. In the past what killed me was 3 or 4 small profitable days followed by a big losing day of like $300 - $400..
That fear is your problem right there. your worst day should be set at 1/2 the average of your profitable days. With 100$ up days, you should not risk more than $50 on that $2000 account. Never risk more than 2% of account on any trade while learning. Once you build skills and confidence then you can risk more but it would be better to build the account up while still risking no more than 2% on any trade.
Yes.. of course.. which is why I put my thoughts in writing in this thread. I've identified the problems, now it's just a matter of figuring out a way to address and correct them.
There is actually only one thing to be said and that is keep your fingers off the ES because you cannot afford to trade it. In your initial post you have declared being undercapitalized and thats even an understatement with 2k in the account. You have to trade the market and not the account, that is rule number one and being undercapitalized will always have emotional influences kicking into your decisions and taking control. Your account is your tool and without your tool you cannot do the job, never forget that! Move to NQ or ZN, you cannot afford to trade either of them as well but at least you have more time to learn recognising it before the plug gets pulled. You are in for the money only and that's a big mistake.
Here's a clue: Trade to follow the plan, not to make a certain amount each day. Your plan should have a limit that you can lose.
The dollar /DX is the smallest market I know of with the best liquidity. Maybe move over there so you can do what I call the "two step" as described earlier. Get your two points, sell one contract, move the stop to b/e and let the market do the rest.