NexusFi: Find Your Edge


Home Menu

 





Asking Suggestions On Next Step After Profit With One Lot Trading-Micros


Discussion in Emini and Emicro Index

Updated
      Top Posters
    1. looks_one techa with 23 posts (48 thanks)
    2. looks_two TraderMich with 8 posts (8 thanks)
    3. looks_3 TCCONDE with 6 posts (10 thanks)
    4. looks_4 MiniP with 5 posts (20 thanks)
      Best Posters
    1. looks_one bobwest with 8.5 thanks per post
    2. looks_two snax with 5.8 thanks per post
    3. looks_3 MiniP with 4 thanks per post
    4. looks_4 techa with 2.1 thanks per post
    1. trending_up 18,258 views
    2. thumb_up 197 thanks given
    3. group 203 followers
    1. forum 86 posts
    2. attach_file 0 attachments




 
Search this Thread

Asking Suggestions On Next Step After Profit With One Lot Trading-Micros

  #1 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
Thanks Given: 75
Thanks Received: 92

Not quite ready for this next step but I'm getting closer and wondered what is the best next step in my live trading plan:

A) begin trading 2 lots
B) keep with the one lot but start full ES

Please feel free to add other suggestions if you have them as well as a recommendation of how soon to segue into phase two.

Started this thread Reply With Quote
Thanked by:

Can you help answer these questions
from other members on NexusFi?
ZombieSqueeze
Platforms and Indicators
Better Renko Gaps
The Elite Circle
Deepmoney LLM
Elite Quantitative GenAI/LLM
Futures True Range Report
The Elite Circle
NexusFi Journal Challenge - April 2024
Feedback and Announcements
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
26 thanks
The Program
18 thanks
Battlestations: Show us your trading desks!
18 thanks
  #3 (permalink)
 
JonnyBoy's Avatar
 JonnyBoy 
Montreal, Quebec
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Kinetick
Trading: ES
Posts: 1,561 since Apr 2012
Thanks Given: 706
Thanks Received: 3,854



techa View Post
Not quite ready for this next step but I'm getting closer and wondered what is the best next step in my live trading plan:

A) begin trading 2 lots
B) keep with the one lot but start full ES

Please feel free to add other suggestions if you have them as well as a recommendation of how soon to segue into phase two.

It is extremely difficult trading with a single contract, so if this is working out for you then great. Trading 2 lots gives you additional flexibility. I would consider begin trading with 2 lots on the E-micro and then transition to E-mini when you have met your goals.

--------------------------------------------------------
- Trade what you see. Invest in what you believe -
--------------------------------------------------------
Reply With Quote
  #4 (permalink)
 
snax's Avatar
 snax 
Chicago, IL
Legendary Price Action Student
 
Experience: Beginner
Platform: Sierra Chart
Broker: Edge Clear
Trading: MES
Posts: 2,170 since Feb 2019
Thanks Given: 9,612
Thanks Received: 9,622


techa View Post
Not quite ready for this next step but I'm getting closer and wondered what is the best next step in my live trading plan:

A) begin trading 2 lots
B) keep with the one lot but start full ES

Please feel free to add other suggestions if you have them as well as a recommendation of how soon to segue into phase two.

Hey @techa, I recently went through a similar experience and though everybody's journey is different, the advice I was given by the futures.io community was overwhelmingly in favor of trading multiple contracts in the MES, and its been a very valuable learning experience. I discovered a lot of things I could improve once I started trading just 2 contracts instead of one and it really opens up a lot of possibilies once you get to 3+ where you can get your 1R+ profit and still have runners going, its a whole other skill-set that I find easier to learn on a smaller instrument than stressing out over multiple contracts in the ES for now at least. I usually trade just 2 contracts but I am trying to start bumping up to 3 or 4 on my more confident entries.

Hope that helps, cheers!

Visit my NexusFi Trade Journal Reply With Quote
  #5 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
Thanks Given: 75
Thanks Received: 92


snax View Post
Hey @techa, I recently went through a similar experience and though everybody's journey is different, the advice I was given by the futures.io community was overwhelmingly in favor of trading multiple contracts in the MES, and its been a very valuable learning experience. I discovered a lot of things I could improve once I started trading just 2 contracts instead of one and it really opens up a lot of possibilies once you get to 3+ where you can get your 1R+ profit and still have runners going, its a whole other skill-set that I find easier to learn on a smaller instrument than stressing out over multiple contracts in the ES for now at least. I usually trade just 2 contracts but I am trying to start bumping up to 3 or 4 on my more confident entries.

Hope that helps, cheers!

Not to sound like an idiot but what does 1R+profit mean?
I can only really manage my trades on Wed-Fri so I think I'll set up on my sim 2 or 3 lots on Mon and Tues and track that for a bit to see how that works. When I first started earlier this year on my sim account I was doing 3 lots and did well, but when I went to real money on the micros I discovered that live trading is MUCH more stressful and I had to limit myself to the one trade a day because I had zero self control. Using the one lot has helped me to wait for the better opportunities. Thanks for the advice!

Started this thread Reply With Quote
  #6 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
Thanks Given: 75
Thanks Received: 92


JonnyBoy View Post
It is extremely difficult trading with a single contract, so if this is working out for you then great. Trading 2 lots gives you additional flexibility. I would consider begin trading with 2 lots on the E-micro and then transition to E-mini when you have met your goals.

Thanks for the suggestion. I think you are right that it does make more sense to start practicing with 2 lots on micros first. But when I feel I have that down and then go to full ES should I go back down to 1 lot to start or stick with 2 lots?

Started this thread Reply With Quote
Thanked by:
  #7 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,341
Thanks Received: 26,267


techa View Post
Thanks for the suggestion. I think you are right that it does make more sense to start practicing with 2 lots on micros first. But when I feel I have that down and then go to full ES should I go back down to 1 lot to start or stick with 2 lots?

To jump in here, my sense is that you should be careful about wanting to go to "full ES" very soon. The point value in dollar terms is 10 times the size of MES, and that huge additional load on a person's perception of risk (and their actual risk, too) is not something to jump into too quickly.

Maybe after 2 lots of MES, try 3, etc. There's no hurry to go back to full ES values until you really are ready. For example, 5 lots of MES equals half a lot of ES in dollar value. (There will be higher overall comm/fees of course with more contracts.) You can ease into the higher-stakes game, which may be wiser.

Slow steps, taking on additional risk in small increments, will probably work better for many people.

Don't be in a hurry to hit the big time and get rich. It usually doesn't end well.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
Reply With Quote
  #8 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
Thanks Given: 75
Thanks Received: 92


bobwest View Post
To jump in here, my sense is that you should be careful about wanting to go to "full ES" very soon. The point value in dollar terms is 10 times the size of MES, and that huge additional load on a person's perception of risk (and their actual risk, too) is not something to jump into too quickly.

Maybe after 2 lots of MES, try 3, etc. There's no hurry to go back to full ES values until you really are ready. For example, 5 lots of MES equals half a lot of ES in dollar value. (There will be higher overall comm/fees of course with more contracts.) You can ease into the higher-stakes game, which may be wiser.

Slow steps, taking on additional risk in small increments, will probably work better for many people.

Don't be in a hurry to hit the big time and get rich. It usually doesn't end well.

Bob.

I don't imagine going to full es for quite some time because I am just now seeing some consistency in my trading. I just know at some point the goal is to trade the full es instead of the micro and not sure what goals to surpass before I do that. I know I will need to fund my account much more than I currently have. I began my account with 3k and lost almost 1k before I really stuck to my trading plan and am starting to see profit with one lot per day. ($30-$50 per week after freakishly high fees).

The funny thing about trading is that each stage in the process brings new risks and mental challenges to overcome. To truly be successful at this though, I imagine it is necessary to at some point move to multiple lots of full contracts but the risks are monstrously higher.

I am SUPER grateful for some of the seasoned traders on this website that highly encouraged me to start with micros because I foolishly thought I could start scalping full es when I began this journey. Had I done that I would definitely have thrown in the towel by now! Thanks for the advice!

Started this thread Reply With Quote
  #9 (permalink)
 
MiniP's Avatar
 MiniP 
USA,USA
Market Wizard
 
Experience: Intermediate
Platform: NinjaTrader
Broker: NinjaTrader Brokerage
Trading: ES,
Posts: 1,157 since May 2017
Thanks Given: 1,109
Thanks Received: 2,943


techa View Post
Not quite ready for this next step but I'm getting closer and wondered what is the best next step in my live trading plan:

A) begin trading 2 lots
B) keep with the one lot but start full ES

Please feel free to add other suggestions if you have them as well as a recommendation of how soon to segue into phase two.

why go full ES?

If the MES is your cup of tea then trade that and just add size. Yes it follows the ES but it is not the same animal. If you are having success with the MES then stick with it, you don't need to change things.

if you want to trade Full ES then add a few more contracts.

my 0.02 is you stay with the MES for ever or until the point you are trading such a large lot size that you cant get a fill and need to bump up to the ES.

-P

"Truth is not what you want it to be; it is what it is, and you must bend to its power or live a lie"-Miyamoto Musashi
Visit my NexusFi Trade Journal Reply With Quote
  #10 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
Thanks Given: 75
Thanks Received: 92



MiniP View Post
why go full ES?

If the MES is your cup of tea then trade that and just add size. Yes it follows the ES but it is not the same animal. If you are having success with the MES then stick with it, you don't need to change things.

if you want to trade Full ES then add a few more contracts.

my 0.02 is you stay with the MES for ever or until the point you are trading such a large lot size that you can get a fill and need to bump up to the ES.

-P

Mostly due to fees. I am with Infinity Futures which I really like a lot due to their excellent customer service. But micro fees for me are $2.04 R/T. On single lots that really takes a bite out of profit. Down the road I could switch to another brokerage firm for much cheaper fees and just sick with multiple contracts of micros so I guess that could be option 3. I do really like the fact that the micros are much smaller as far as comfort/risk level.

Started this thread Reply With Quote




Last Updated on January 27, 2020


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts