I agree with no skill = possibly the same outcome. But I am not sure about if can't make it on a smaller account won't make it on a bigger one. Yes, there are different lifestyles, but most people have relatively the same basic cost of living. So someone trying to generate a livable income off of $300,000.00 account is hardly comparable to someone trying to generate same income off of $2,000 - $10,000.00 account. Not just from a pure mathematical standpoint, but also mentally, chances you have to be wrong and etc. Not saying they wont eventually blow up either, but there are some people with larger accounts who day trade and make a living and they couldn't make it with a smaller account (literally wouldn't even be able to use the same strategy as not enough funds).
I also focus on the strenght of the trend (long trend..counter trend..mini trends...etc) but visually. Bars large or small. Overlapping bars or gaps between closes, high, low of previous bars and closes, highs and lows of subsequent bars. Sequential bear bars or sequential bull bars. Context trend is taking place in. It is alot I am looking at as I try to watch every bar. How it opens. How it forms. How it closes. I see nothing as just noise. My profit targets are initially set from what appears to be probable but i often adapt them on the fly as market action proceeds and as initial SL IS compared to my actual risk i had to actually hold thru. That is, initial risk vs actual risk is considered in final the PT decision.
Sure. Account size has to be big enough to handle the strategy and tactics one incorporates. That is why small is relative. But what I am saying is account size has to be no bigger than the min amount necessary to trade the method one is using. Providing the skill level is high. Obviousley 2000 will work just fine for some methods (i can hear the protests) ....others would require 10,000 to be the small amount. I never keep a big account at any brokerage that i have accounts with. I don't need it and do not want my funds sitting in their brokerage. I keep only in there what I need to reasonably trade my method of trading. Why should I let my money sit in their brokerage? If i get a margin call (never have) i will just send them the funds. I have never blown an account. Years ago came close. Anyway, i suppose i see it different than most...
You can buy a single broker Ninja (Ninja is an IB for Dorman) lifetime license for $1000 which has a Continuum (CQG) feed. CME fee is $7 a month.
Take what you need to pay bills and leave the rest so you can build size. Size is individual comfort level but if you can profit with one contract, you can profit with 50 given keeping one's cool.
[POLL] Are Bullish and Bearish Day Trading patterns Unique OR Similar ? I personally believe, or feel, that Everything in the marketplace is truly Unique; Each new day, or trade, has its own DNA No point in making a case for either side. because it will make no difference, that much. Trading (day) is not like black and white Law...it's more like a kid's cartoon and a psychological thriller...that is, or can be, open-ended You can win with logic and rationale in the long run with investing -- but for Trading, it truly takes another skill, or dimension,
No there's no disputing this, If you have true edge and can profit on 1 contract you can on 50. What I am saying the opposite isn't true, people saying if you can profit on 50 contracts, than you can profit on 1, that's what I am debating.
Trust me I am not trying to debate just to debate, just want to be clear in what I am saying. There's people that trade larger accounts and make a living, that if you gave them a smaller account they would have an incredible tough time being profitable at all.
Yes for me there is no difference between bull or bear. I wish to compare stock investment with trading like slow chess with speed chess. Slow chess champion Garry Kasparov was a genius. Speed chess champions are very smart and quick.