Don't blame the young bachelor for your simple existence. Every schmuck has 2 kids with a mortgage, and most likely his wife is banging the young bachelor lol. But don't say someone hasn't traded futures just because they suggested using 2lots. As far as "making a living" I have no idea, but one can make good money with 2 lots alone.
Dude please keep it up, don't let anything deter your journey. I enjoy this journal a lot and will start contributing! Been a long-term lurker!
What is a "5k max loss"? A little detour first-- Almost all of these funding companies are number magicians. OneUp says $150k, and then you have up to 15 contracts to trade simultaneously and a max loss of $5k on the account. LeeLoo specifically says "15 contract account", and does NOT say $150,000 because they know the $150k is a lie. Yet the platform has to say something, so they chose $150k anyway, LOL. What is the true value of the account? You can figure it one of two ways: A) MAX LOSS. The max loss is $5,000. So the max value of the account is $5,000. End of story. If you lose $5,000 then you are dead. B) AVAILABLE MARGIN. The equivalent margin required for 15 contracts is about $6,000 if you estimate $400 daytime margin per ES contract. However, I think both OneUp and LeeLoo allow you to trade SILVER which has a margin requirement of about $5,000. If you multiply this by 15 contracts, then the account is "worth" $75,000. So which is it? Of course it is A. B makes no sense in the real world. So to answer your question, a "Max Loss of $5k" means if you lose $5k on the account you will lose the account. There is one exception: If you grow your account to $6,000, then the max loss grows with you. $7k, $8k? the max loss holds firm at an account "balance" of $150k.
NEWS FLASH! The Micro ES contract (MES) just leapfrogged dozens of other futures contracts to become the 7th most popular futures contract in the universe today:
Back in the saddle, like I said. I traded the last three days. I am still growing the account slowly. I am extremely close to having $1,500 in the account (like before the $500 withdrawal) and giving myself permission to trade 3 contracts. I am hovering around 2.0% growth per day, but I'd rather be above it than below it. My average ticks per day has really dropped off recently, but I think I can get back above 30 ticks average per day. Next stop: $2,000 balance. I will post more trades and stats, since that is what people are asking for.