out of all at 1755. profit on 3 from 1756 = 3 points = 150 USD profit on 2 from 1768 = 13*2 points = 26 points = 26*50 = 1300 USD Total profits = 1450 USD Account Equity = 46,150 + 1,450 = 47,600 USD
Seems like you're doing very well with this approach. Are you doing just as well with your real money account? If not, maybe this is what you should be doing with your real money?
Goal of this journal is to run 30k to 300k without encountering a 70% drawdown. If I prove to be successful in this goal, I will surely implement this approach in my real trading account
out of these 3 adds at 1762.5 for a loss of 1.5 points out of original 5 short from 1758 at 1762.5 for a loss of 4.5 *5 = 22.5 points Total loss = 22.5+1.5 = 24 points = 24*50 = -1,200 USD Account Equity = 47,600 - 1,200 = 46,400 USD
What rules do you have for risk management? $15 000 ago you were trading 1-4 cars, now you're trading 8? Drawdown will happen. Make sure you don't lose all your "profits" by swinging too much size when that happens and then getting so pissed from your losses that you leverage up even more and blow up. Personally, I think it makes sense to allocate a certain amount of capital per contract, i.e., $10.000 per contract, such that you're allowed to add contracts only for every $10.000 increase in the account. Just as an example. Is your live account doing just as good as this?
Hi, I increased the size as I gained confidence and as I thought long is a fairly high probability trade here. Thanks for reminding me that drawdowns will happen. And it might get psychologically tough for me to trade with a clear head then. Live account its a different story, its mostly intraday and a lot of it is systematic. its doing ok but the risk parameters are tighter there. This journal is swinging for the fences kind of journal - go big or go home kind of stuff.