start averaging down with real leverage up to 10 mini contracts consistently and ill give you props. big deal..grind out 200 bucks...why? thats feractions pennies...
Maybe it never occurred to you I may be just showing how a trader with a small account can make some daily wages. What I do with 1 micro or 5 micro’s I can do with 10..20..30..emini’s. I did this sometime back on another thread. Can’t remember just when. The techniques once learned work on 1 micro or 50 emini’s. Just a matter of upping the size. Not interested in prop. Why would I be? Besides I’m too old. I dance to my own music and have no desire to learn any prop strategies. Row, row, row your boat Gently down the stream Merrily, merrily, merrily, merrily Life is but a dream Every one must do whatever floats their boat.
This led me to a question I had... Why did you start doing this on micros, instead of just sticking with the minis? I am assuming you have been doing this with minis all along, and then switched to micros?
To see if I could show how a little feller with a little account can use the techniques without alot of risk and yet make a few hundred a day. While the ES and Micro mostly track together within a tick or two I didn’t know if it would be worth messing with on a micro. But, so far it appears like it might work ok starting with two contracts and averaging in two or three at a time. Many new traders cannot get together enough $$$ to learn this stuff on an emini. They stand a high risk of blowing their account before they learned it well enough to be consistent. Once they learn it well on micro it is a matter of stepping up to the ES but trading small building the account. Then step up on size. PS I do it on the ES too often trading both ES and micro at the same time. Sometimes I am trading The ES, NQ, YM all at the same time. On days when my brain is sharp, clear, and working well.
Maybe it is a little clearer here. Now that that the trading day is history. See the market is always in a trend or a range. Trends are are of two types. BREAKOUTS and CHANNELS. So, you can get a spike in a BO. Once it starts having PB’s it is morphing into a channel. Channels while part of a trend they are actually just ranges that are tilted. Finally channels morph into horizontal ranges. I detected that the channel was morphing into a horizontal range and it did so as we can now see. After the fact we can see that it precisely started right where I started drawing the range box and where the first yellow highlight is. From there on the market was in a sideways move..up and down. These sideways moves afford many scalping opportunities using many different techniques. It isn’t always easy to see where the morphing starts because by the time the range is evident the latter part of the channel has become the first part of the range. Notice as the day progressed the range expanded south. That is where I draw in another box and now do range trading off the new box. Shorting tops. Buying buying bottoms. It is important to try and detect the morphing area from channel to horizontal range because in that transition, and the market phase that comes after that transition is made, there are different tactics to be used than those used in a channel, when scalping.
I am happy for you. Me, I only remembered and talked about my losers so hopefully I won't make the same mistakes again.
i dont make mistakes. there is no margin for error. why create negative muscle memory. im proud of my gains and trading skill. i always take joy in talking about my winners. only losers are bothered by it