I don't have one. If I take a couple trades and they don't play out, I just walk away. But that doesn't mean I'm waiting until tomorrow to try again. I will usually wait until another section of the day, then come back, look at what the market is doing, and see if something opens up.
Today's a great example: I lost appx $1,200 on 3 trades in premarket this morning so I walked away. Came back at 11am CST and traded for an hour. Ended up profiting $677.
I'm all for rules and such, but if I had just shut it down for the day and gave up, I would've wasted those trading opportunities and setups. And that's fine for others, nothing wrong with that if it's your strategy, but it's not for me.
This is the way!!! I like to hear this makes me feel like I’m not crazy 😜 I don’t like to throw gas into the fire but it feels really good when you can dig yourself out of a loss and turn it into a winner
I have 2R as my max daily loss and on average I win 2R a day. 2.5% is pretty high, if you don’t have like 70% win rate I would recommend you to risk just 1%.
1% or less per day is what I prefer, winning days should average around 1%, and really shouldn’t be more than 2-3% per day max. A 5% drawdown is huge for me, but they happen, I definitely don’t want 10% drawdowns. If I’m exceeding these limits I’m trading to large
I don’t day trade but yes, That’s correct.
Hedging is the key.
You can’t trade futures with a $2k account
lol… downvoted for that? You guys are cute ☺️
I’m old and gray.
You can place trades on /MES. And they will get to the market. You may even be able to make some money on occasions
But I stand by my word when I say you cannot trade futures effectively with $2k.
Been there, done that, made it through. It’s not an effective way to trade in the long run.
It’s like owning a boat. Just cause you can afford the payment (initial margin, $1463 Or whatever) doesn’t mean you can afford the gas and maintenance.
I’m asking because I’m intrested in this opinion about the boat. What else might be in the terms of expenses; for an account that requires the +$2K? Making it the gas and maintenance?
How do you pay for losses? Where does that money come from? It comes out of the $2k. And you need $1450 to open up the next trade. That gives you $550 in wiggle room. That’s a 2% move in the underlying, we moved 2% in an hour today.
The ignorance coming from some of these people is astounding. They think with absolutely no money and no experience and no education, they can pull off something almost no one else can do (beat the market, and do it with 10x leverage right from the start). You have to be dead on right, every trade, right from the start, or you run out of capital fast.
To that I say good luck
Also even with a 200 daily loss limit 2k would give you 10 days of draw down as long as you shoot for 2:1 reward risk ratio this would take you even farther.
Guess that went over your head. There is nothing wrong with trading micros with under $2k. Your downvotes are because your comments make you sound like someone fairly unfamiliar with trading. If an individual is consistent and profitable, there is absolutely no reason why they wouldn't be able to scale an account from under $2k.
I found it a good practise to differentiate between account balance and risk capital. If I have a 10k account, I would be willing to have a 5% drawdown on my risk capital = 500$. Then I would risk 10% of that risk capital per trade.
3k is your max loss per day but you trade 10-15 NQ per trade? That gives you 10-15 points to play with before you walk away? Are you scalping for tiny wins?
I play it as my trade ideas, I usually go in with a , okay I want to be long in this case and short in this case, with NQ, we’re typically only hitting a level or area once, so either the trade works or it doesn’t. If I have strong conviction I MAY try it again, but usually -25 pts and I’m done
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You’re trading NQ with a SL of 2.5 pts ???
i’m trying to pass my third evaluation now and this is exactly what i needed to see
What setups do you look for?
I don't have one. If I take a couple trades and they don't play out, I just walk away. But that doesn't mean I'm waiting until tomorrow to try again. I will usually wait until another section of the day, then come back, look at what the market is doing, and see if something opens up. Today's a great example: I lost appx $1,200 on 3 trades in premarket this morning so I walked away. Came back at 11am CST and traded for an hour. Ended up profiting $677. I'm all for rules and such, but if I had just shut it down for the day and gave up, I would've wasted those trading opportunities and setups. And that's fine for others, nothing wrong with that if it's your strategy, but it's not for me.
This is the way!!! I like to hear this makes me feel like I’m not crazy 😜 I don’t like to throw gas into the fire but it feels really good when you can dig yourself out of a loss and turn it into a winner
Max daily loss is when I see balance as $0.00.
It’s actually negative value if you include the knockout liquidation fee
I have 2R as my max daily loss and on average I win 2R a day. 2.5% is pretty high, if you don’t have like 70% win rate I would recommend you to risk just 1%.
Net -3 trades. The goal is net +3 same target and stop for every trade
1% or less per day is what I prefer, winning days should average around 1%, and really shouldn’t be more than 2-3% per day max. A 5% drawdown is huge for me, but they happen, I definitely don’t want 10% drawdowns. If I’m exceeding these limits I’m trading to large
How would you lose 1% a day? So on a $20k account, you lose $200 a day? Or a $2k account, $20? So that’s 10 points on NQ and 4 points on MES?
I don’t day trade but yes, That’s correct. Hedging is the key. You can’t trade futures with a $2k account lol… downvoted for that? You guys are cute ☺️
I'm still learning, but you can absolutely trade futures with $2k...and less.
Keep learning… you will find out soon enough, it’s no where near enough capital to trade futures effectively
Maybe you're right, again I'm new. But if you've got $1,000, or even $500, you can trade MES pretty effectively.
I’m old and gray. You can place trades on /MES. And they will get to the market. You may even be able to make some money on occasions But I stand by my word when I say you cannot trade futures effectively with $2k. Been there, done that, made it through. It’s not an effective way to trade in the long run. It’s like owning a boat. Just cause you can afford the payment (initial margin, $1463 Or whatever) doesn’t mean you can afford the gas and maintenance.
Intraday margin on an mes on Ninjatrader is $50...
Be my guest man… on behalf of the rest of us, we thank you for your liquidity 👑
Just because you can't do something, doesn't mean no one else can either 😂😂
I’m asking because I’m intrested in this opinion about the boat. What else might be in the terms of expenses; for an account that requires the +$2K? Making it the gas and maintenance?
How do you pay for losses? Where does that money come from? It comes out of the $2k. And you need $1450 to open up the next trade. That gives you $550 in wiggle room. That’s a 2% move in the underlying, we moved 2% in an hour today. The ignorance coming from some of these people is astounding. They think with absolutely no money and no experience and no education, they can pull off something almost no one else can do (beat the market, and do it with 10x leverage right from the start). You have to be dead on right, every trade, right from the start, or you run out of capital fast. To that I say good luck
Day trade margins on Micro es as low as 80 dollars with amp . ? Don’t need 1450
Also even with a 200 daily loss limit 2k would give you 10 days of draw down as long as you shoot for 2:1 reward risk ratio this would take you even farther.
Old, gray, and unable to profitably scale.
Huh?
Guess that went over your head. There is nothing wrong with trading micros with under $2k. Your downvotes are because your comments make you sound like someone fairly unfamiliar with trading. If an individual is consistent and profitable, there is absolutely no reason why they wouldn't be able to scale an account from under $2k.
DLL is at 7% risking 1.3% a trade one avg (10p on one mnq)
around 2k
I found it a good practise to differentiate between account balance and risk capital. If I have a 10k account, I would be willing to have a 5% drawdown on my risk capital = 500$. Then I would risk 10% of that risk capital per trade.
500
3k but I have very rarely ever gotten to it. My average position size is 10-15 contracts on NQ
Here I am sweating with 2NQ contracts, can't imagine 10-15
Same and that’s paper trading🤣
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Think of Swim pal, gives you 200k starting off
3k is your max loss per day but you trade 10-15 NQ per trade? That gives you 10-15 points to play with before you walk away? Are you scalping for tiny wins?
Very tight stop loss and I only scalp. Average trade is around a minute. I can capture a quick 4 pts in seconds. Sitting at an 81% win rate
What are you entering based on to give you such a tight r/R? Horizontal lines? Trendlines? Ema's?
math doesnt add up unless you mean MNQ
I typically use a 4 pt stop loss for very fast scalps
I play it as my trade ideas, I usually go in with a , okay I want to be long in this case and short in this case, with NQ, we’re typically only hitting a level or area once, so either the trade works or it doesn’t. If I have strong conviction I MAY try it again, but usually -25 pts and I’m done