I inquired about his TC cause I wanted to know his risk factor, 120 lots after hours is almost 1/2mln bucks using minimum margin requirement. Also that comment on spoon feeding, hmm, 1-2 ticks profit is damn easy even for a novice trader, the risk though, depending on TC could be enormous, that's why I asked.
I am not willing to disclose my TC, but rest assured that I follow my rules for risk management. Bear in mind that "risk management" is not cast in concrete as I have read in some books (for example 1% or 2%). In my trading experience, I have found that trading capital used per trade or per contract varies with each strategy, personality of the trader and a variety of other factors which need to be analysed first, before coming to the conclusion about the amount of risk to take. So what is right for me may not be right for you, and vice versa.
The concept of appropriate risk varies dramatically based on the style of trading that the individual trader uses. This is one of the most important areas of modern intra-day trading (particularly of the e-mini's) and certainly has not really been explored nearly as fully as it could be. Bottom line: I've seen many different style of trading of the exact same derivative products at this website ... I'm willing to be that each style has its own risk factors and margin requirements. Food for thought. Best, Jimmy
one more comment about my specific trades and my risk management. I have standing instructions with my broker to take me out at X dollars loss. It is programmed into my profile and as soon as I hit that mark, I am AUTOMATICALLY OUT for the day. It acts like the big circuit breaker, whether I am in front of the computer or not. This is in addition to the stops and other measures I take on my own in my every day trading.
I think I understand what you are doing with averaging, obviously I could not be certain of the exact algo as you simply post after the action - done that and this is the result, but I assume you use some sort of adding multiplier when averaging on almost every tick going against your position. Unless you have a systematic entry signal, this is playing with fire, unless your maximum averaging amount of units equals your max loss to your TC. If it doesn't, then good luck.
I am sick of the choppy action..... went long and got chopped up went short and got chopped up... Maybe nothing will be resolved until the beigebook data comes out at 2 PM (EST). I am closing the trades for the day. WIll post results so far in a minute.
Total contracts traded for the day: 282 contracts traded Net profit for the day = $3338.00 DONE FOR THE DAY.