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Big time frames with small account
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Big time frames with small account

  #11 (permalink)
Trading Apprentice
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: TF
Posts: 5 since Apr 2011
Thanks: 9 given, 0 received

Massive l View Post
Small accounts should always use large (Daily) time frames IMO.

You're not going to do much but wipe out your account using smaller time frames, grabbing a few ticks here and there.
It will work doesn't work.

You need to see the bigger picture first, and with a small account, you need to develop
a strategy that has the lowest risk possible.

If you think, tweak, and speak (write) about it enough, you are bound to make headroom.

You don't need to focus on 1%,2%,3%, etc.

You need to focus on the strategy because the strategy will dictate how much you are going to risk.

I agree with you.

Currently I am working on my strategy. So far its about finding THE BEST setups. So its not about few ticks here and there for me, I am not try to "scalp" the movements , but my strategy is larger earnings based on entries on the beggining of the trend/movement. My lowest target is 20ticks, but they go up to 50-60ticks, depending on the situation, but ofcourse i get out if something goes wrong, i try to micromange my stops. I practice mostly on CL (500vol), 6E (2000vol), TF (1000vol), and sometimes QM and YM, depeding on whats happening (although I know that CL and similar instruments are very risky, especially for small accounts). I base my entries on PA, understanding the general behavior of the specific instrument, breakouts and pivot lines and i most of the time trade along the trend, rarely against it. I dont use indicators, except HAsmoothed for the exit strategy.

When i started practicing, i did sometimes even 10+ trades per day, and that was road to failure for me. what i lacked was consistency and thats my FIRST goal. Now, i am happy with 3 trade per WEEK. Also, all the backtesting and optimization proved to me that what ever i do, if i am not picky about trades, statistics is gonna kill my account.

so, yeah, now i am trying to optimize my strategy as you suggested it and s/l-es along with it.

But so far, trading daily charts only make sense to me on forex, considering my account and the margins i get there. If i trade on daily charts, my s/l is based on the range of the candle/bar on which i base my entry. Well, considering that ranges of those candles can go up to even 25% of my account entirely, if something goes wrong, i just cant afford it.

so as i see it, with my account i have two options: start to learn to trade daily charts on forex, or be very consistent and profitable on intraday futures instruments.

of course, i have ZERO experience with live trading, and yet plenty to learn and all the help i get from you guys is very much aprecciated


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