@Millionaire They allow me up to 30 Micro Mini's.... but that's just way too stressful and one mistake account could be gone. Typically I trade 1-2 lots max. But I do allow myself the freedom to go up to 3 lots.
True, but the main thing here is the drawdown / Daily loss limit. If I violate that one, even my own personal one. Than I would more agree with you. Not taking every setup as a perfectly defined trade, is not good, but I am human and sometimes whether I mean to or not, by accident or not, I won't always be taking the perfect setup. The contract size was a mistake I made. Again not ideal, but their limit is 30 Micro Mini's. So, again leaving myself a cushion is smart imo, in case I do make mistakes since I am human. Just my perspective and view though of course.
LOL they pretty much are all like that. All of them will allow 20-30 micro mini's on a "25k" account. EDIT: Oneup trader is the only one that doesn't, but that's by default because last time I checked they don't give any consideration to it being a micro or a mini, they still count it as one contract.
Seems like a great deal for the company because most fees will never be repaid by losing traders. They will pay a small percentage of everyone's fees to the profitable sim traders.
Oh boy looks like another tough day (to start trading at 9:30). Market already down a lot, yet terrible environment for longs here generally speaking, but if shorting run the risk of getting caught in a temporary sharp short cover rally. Just going to take trades as they come, don't really have a bias here as it isn't going to do me much good given how much we've already came down. Just look for setups and use reasonable risk management.
On the contrary, it will be a very good day for day-trading, with lots of volatility. Not like yesterday, where the market wasn't moving much.