good morning IS, I would suggest that you do not allow yourself to be blinded by your account balance, it is just the fuel that makes your engine go. The engine (your strategy) alone determines whether you will make money or not. One of the oldest forms of risk management and winning is the sad art of warfare. Eventually, after many disasters, a theory of "advance and hold" was developed and refined. advance and hold advance and hold advance and hold The only time a good army allows a retreat is to suck the other mugs into a decent hiding and then it is back to advance and hold. advance and hold In man´s most noble of arts, namely rugby, the same applies. "advance and hold" goes by several different names,"pick and push" being one of them. The last thing that a good rugby player wants, is to lose possession of the ball to the opposition who will then drill(kick) it back 40+ metres and then all good work must begin again. Nowhere in rugby is there a plan to allow the other mugs to drill the ball back 40+ metres behind the advance line. And so IndexS, the same applies to your strategy. advance and hold advance and hold. When you have mastered this and only then, you may begin to slowly increase your trade size, but that is another story. regards f9 ps advance and hold advance and hold
They are saying that because the risk per tick is smaller - of course reward is too, but with such a small account size, capital preservation is paramount. NQ/YM are $5 per tick, whereas ES is $12.50 and ER2 is $10. On the other hand, commission (~$4) is much higher relative to tick size on the NQ/YM (almost 1:1 for commision to tick value), so scalping for a tick or 2 is virtually impossible to achieve profitability with the NQ/YM, unless you have an exchange seat.
Do you mean that you cannot understand how it can be done by another Trader, other than anyone you have meet so far. regards f9
True, but I think the OP should focus on his gross risk and growth and forget his net position until his strategy is showing stable daily results. The comms, subs, overheads will fall into line as he grows his account. This is what I what suggest to anyone entering trading.. regards f9
top of the day to you Jimmy. I could tell the world that it is all about commonsense and hard work, but who the hell wants to hear that. it is far more fun to discover something that successful traders have already discarded, then call it your very own little secret. Now that is real fun. regards f9