That iz a very profound thought. I can go fishing everyday except on Friday prior to market close I come home and make a trade. Brilliant!
May be I am getting somewhere. Went live this morning trading 10 shares instead of 1,000 shares (in sim). Fills were instantaneous, no lag, which is reassuring and better than sim. Made 10 quick clicks (5 trades). Win rate 60%, Scaled to a $50K notional value, made $33 or an annualized 16.6% return. A modest start but one day is not a trend.
Hello ironchef, Are you trading for : A. Hobby, Entertainment, Just something to have fun with. B. Pay bills and put food on the table for your family. C. Get rich fast as possible. D. Get rich slow as possible. E. Trying to be a Price Action Master like other price action traders and be a student of price action, trading theory master. Which one are you trying accomplish?
Excellent job... would love to see a chart if you don't have a problem sharing! For me, trading shares is even cheaper than an MNQ or MES contract. I usually get charged around 30-35 cents, whereas the futures contract is 62 cents. Where this also makes a difference is if I scale in. The exit is only 1 exit, but for futures, you have to pay to exit each individual contract. Sometimes for the shares, the fees can jump to 45 cents or so, but its never more than the futures contract. Obviously, if I was trading hundreds of shares, it gets cheaper to trade the futures, and the fills might not be as good, but for 10, 25, 50 or 100 shares, its leverage and less fees, while still getting the full day trading experience.
Here in the US, trading shares or ETF is commission free, I only have to pay a tiny exchange fee (tax) each trade. That is why I don't day trade futures.
I don't have the real time trades captured so can't show. Go to @volpri's journal. Trades were similar to those in his TR videos, except I use 1 minute charts.
Why is it funny? Buffett eats at McDonald's all the time. He uses coupons to get his discount. If I can win a Big Mac day trading, I don't need to clip coupons.