I'm very upset about today. After being up 240 in the morning I lost everything and then some in the afternoon. I got my a** handed to me on ER2. I should have listened to previous posters that recommended to stay away from it. Today, I traded NQ for the first time. Even though I made a bit of money trading it, I don't like it at all. The $5 tick really bothers me. I'm really hanging by a thread and there is a good chance that I won't make it, therefore, I need to make a radical change. Starting tomorrow I will concentrate mainly on the ES and limit my ER2 activity to a minimum. I may still trade it pre-market where I've been making money consistently. Products traded: ES, ER2, NQ Contracts: 58 Opening balance: 977 Closing balance: 829 Net P/L: -148 Discipline: 2
Commission is about $240 with 58 contracts, so you actually made a little money, like $90, but the commission killed you, because it took you 58 trades to make a bit less than 2 ES points. That's why you were negative for the day... Also you should have started out with a broker where the margin minimum is $500, so you would have had an extra $300 cushion before you have to stop trading.... It is possible you would make it if you start out with 3K...
It is possible to make it but highly unlikely without blowing his account a few times. Good trading to all
You are correct about the commission Pekelo, however what killed me was excessive loss on ER2. My net gain on ES was 305 which is 6 points after commissions.