Some thoughts: i) have you worked on a risk management approach? 54% is about 5 times bigger than what your drawdowns should be. As a less experienced trader, and part-time, you should not be having drawdowns more than about 10%. So it sounds like in 2008 you were trading about 5 times too big. ii) One good year isn't enough to justify quitting a secure job IMO. I would look for more consistency - 3 profitable years, with at least 2 of them being good years, not just small profits. iii) I like the idea of the split accounts. Demo account for real-time testing, live account for proven strategies. Good plan.
SLD 1 ES JUN10 Futures 1079.25 USD GLOBEX 12:34:32 BOT 1 ES JUN10 Futures 1080.50 USD GLOBEX 12:37:55 SLD 1 ES JUN10 Futures 1080.50 USD GLOBEX 12:38:09 BOT 1 ES JUN10 Futures 1081.50 USD GLOBEX 12:38:51 SLD 1 ES JUN10 Futures 1081.50 USD GLOBEX 12:38:57 BOT 1 ES JUN10 Futures 1079.25 USD GLOBEX 12:47:50 SLD 1 ES JUN10 Futures 1078.75 USD GLOBEX 12:50:13 BOT 1 ES JUN10 Futures 1076.75 USD GLOBEX 12:51:44 P/L +2 pts
Thanks for your kind input. Yes, you're right that 54% loss is way too big. Lesson is learned. Everyday, I remind myself not repeating the same mistake. I always ask myself: what makes trading so tough?
Hi there, I'll be watching your thread with great interest, I am doing a similar thing trading futures at night and when I can during the day. Its a good way to build confidence before taking a stab full time. When taking profits are you using a protective stop once you hit your target and letting the winner run at all or are you just looking to scalp a few points daily? Good idea to work with just one contract for now as you are doing. Good trading to you.