Even when I know EXACTLY what the market is doing (like when I look at charts, trying to figure out how best to add) I cannot build up a 15 contract position in one day starting with 1. Best I can get is 6-9 or so and that's on a massive volatile+trend day like we had recently in the great bear market of 2021. On a day like today, best I could do is 2. I went long this morning at ~15050 and added on the pullback under 15160.
Also, once you pass the $XK threshold (I don't know what it is), the trailing drawdown only goes back to the starting "account balance" which we agree is fake.
Exactly. As Mr. Sauce mentioned above, it's a 15-point move against you. So on a day like today, where from midnight until now we have a nearly-300 point range, what is a reasonable stop on 15 contracts? 2 points? 3? BS, you'll get eaten alive. There is NO reasonable stop if your max loss is $4500 with 15 contracts. As you yourself just typed there above, best you could do is 2 contracts. And that's what the limit should be for an account with a max $4500 drawdown.
Yes, EXCEPT SOMETIMES, the market makes it possible to intelligently build a position intraday. It comes around at least once or twice a month. I sort of know what those days look like and what they feel like and I'm happy trading 1 or 2 contracts at 25 or 50 or 75 points a pop until I get those other days.
And that be just downright too risky for these wanna-be funded traders to be going max-lever on any of these accounts. That's my beef with them. They invite failure with their oversized-risk assertions.
And that is why we assert to our friend Mr. Sauce to stick with one contract for now, and not bite the poisoned fruit of the tree that the firms may dangle in front of him. Yes?
For sure. Until he gets to 10K. Then when it is a volatile day, he can add 2 contracts on a pullback. Then the next trend day, he can add 3 contracts on a pullback.