Bad day. Everything went wrong as soon as the market opened. ER2 was totally out of whack the first 5 min, enough for me to get whipsawed a couple of times and blow my max daily stop loss. To make matters worse, I didn't stop trading right away and the end result is as follows: Product traded: ER2 Contracts: 13 Opening balance: 1,460 Closing balance: 1,113 Net P/L: -346 Discipline: 2 Feel free to comment, expecting well deserved criticism...
You are confusing what I said. Starting Required account balance and intraday margin are 2 different things. I trade at TransAct and trade with $500 intraday margin for most products, but they won't open an account with less $2,500 starting balance. The title of thread is starting with $1k and I wish anyone good luck in finding a futures broker that would open an account with 1k starting, they won't it's not worth their time and effort. The reason I said forex is they will take anyone with a few bucks which is what $1k is in the futures market.
The only ciriticism is your starting balance. It causes you to have to make perfect trades. You had a losing day. No big deal. Go get'em tomorrow.
******************************* 1. Stop ,pause ,clean the head 2. After that only one contract en ,only in NYX opening hours 9.30-10.30 ... 1-1.5 point risk for 3-5 points reward trailng stop different ,depend from your personality 3. Not more as 3 attempts per day ,independent all win or all loss or combination 4.Try catch any correlation betweeen en and qqqq es,spy,dia ,eym Your respectfully .... Disclaimer -Author is good only in 20%-35% of all case *s Personality of the author is not suited to give any trading advice All trading contest*s ,which was performed from author with price money in Germany and USA was used solely very high risk (100%) approach and mutiple attempts.
The only ciriticism is your starting balance. It causes you to have to make perfect trades. You had a losing day. No big deal. Go get'em tomorrow. *************************** Depend from objective . If objective perform record - than great reward related to great risk 100% risk If objective risk management ,operator acitivities false GS not riskied in any day more as 2% company capital ... ER is not instrument for low risk trading ,no doubt Your respectfully
Sorry dandxg, I misunderstood your post. Yes, you're right. Starting balance to open an account is higher. My account was initially funded with a much higher balance. I basically blew the account and decided to do the experiment with 1,100 instead of a higher amount.
can't criticize cause you lost,that happens, notice you traded a lot less, so compliments on that, and you probably didn't trade afternoon because of your max loss, if those are the reasons, congrats on your discipline
3. Not more as 3 attempts per day ,independent all win or all loss or combination *************************** If that would not going with success ,lower trade instensity 1 attempt per day 1 atempt per 3 day 1 attempts per week Losing streak with 30 consecutive loss is not very rare ... Game theory ,it can not be avoided ... Alsov for successfull operator . Only ,what is possible lower position and trade intensity untill minimum .in combination with multiple trading pause*s
quite the opposite, this is a very wise, well planned move,,, don't denegrate yourself with those loser titles that other losers call other losers....yeah, a vicious circle... think positive and grow rich....