sstheo 

One of the reasons I am finally becoming successful as a trader is directly because of TST and OneUp. The pain of pushing the reset button finally got to me. I started to really pay attention to their risk parameters, especially the max daily loss and the max account draw down. The massive volatility that erupts with virtually every single Presidential Tweet, tariff news, Brexit news, etc over the past 18 months since the first new market high has been quite the school master. Is there anyone who escaped some level of significant carnage??? The only way to make any profits is to have a tradable account, and therefore capital preservation is significantly more important that making a new high-water mark each day. So I now humbly embrace the rules as guardrails on the scenic journey to keep me from going over the cliff - instead of barriers to my wealthy ambitions. Here they are: Hours. Trade only during the first two hours of the New York session. No pre-market trading. No holding overnight. News. Be flat for major news releases. Instruments. Trading only MNQ and MYM. The MES contract is an option too. Scaling. One micro contract max per $500 in the account. One mini contract max per $5000 in the account. Targets. Scalping is okay and targets are flexible, but factor in $1 per RT fees mentally. Try to stay with the trend as long as the trade is good. Emergency Stop. Max loss per trade is $15. Set emergency stop with the trade entry or immediately after entry. Get out immediately. Notwithstanding the emergency stop, do your best not to let it get hit. If you sense the market is turning against you, get out as fast as possible. Take your loss and move on. Daily loss. My max daily loss is 5% of the account. This will give me 20 trading days to blow up the account if this is what I am destined to do. Starting out, this will be $50. If I lose 5% of the account, I will stop for the day and report it here. Away we go!

Thanks Steve...…… you are a dynamo!

If one can do this challenge, being so disciplined, that is you, sstheo!

Good luck!

I got $5 today total on 3 scalps. Good way to get started!

This is like getting $50 on the E-minis.

It seems like I got out right before a big run in each situation, otherwise I might have been at $20 on my first day.

The market was truly nuts today with expansion into the close after a reversionary market for 6+ hours. The G20 meeting is this weekend and it appears that no one wanted to be short going into that.

sstheo 

I got $5 today total on 3 scalps. Good way to get started! This is like getting $50 on the E-minis. It seems like I got out right before a big run in each situation, otherwise I might have been at $20 on my first day. The market was truly nuts today with expansion into the close after a reversionary market for 6+ hours. The G20 meeting is this weekend and it appears that no one wanted to be short going into that.

Hey Steve,

I have never really followed from start to finish anyone's journal, but since I'm also trading the Micro's (MNQ) I will
follow along. For one with a small account size, to me its the best way to go. I find it takes the fear out of trading and
lets you be more level headed.

Good Luck!

Skid

I really like your mindset. I will also follow this for some emotional boost.

I also keep an eye on the correlations of the markets you trade plus the Russel as the odd one of the class.

Keep it up.

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Hey this caught my eye. I have probably reset 20+ combines. Been funded 2xs and never kept it. You may be onto something here. What broker are you going to use, since commissions will be huge for acct and daily profit targets this small.

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pilotui 

What broker are you going to use, since commissions will be huge for acct and daily profit targets this small. Sent using the NexusFi mobile app

Just FYI, my impression from reading different posts is that brokers have generally settled into something like $1, give or take, per contract, all in per round turn on the micros. This compares to a range in the $4 area, plus or minus, for the regular eminis. Since the micros are 1/10th the size of the eminis, commissions are not exactly proportionate and will be a chunk out of your results when 1 point in MES = $5, but it's not as bad as I feared.

If you make say 3 points and pay a buck for it, you keep $14 rather than $15.

These are not official numbers, just ball-park. Your mileage may vary.

Bob.

-----------------

Edit: sorry to step into your thread, @sstheo. What are your costs going to be? If in line with this, I think the fees part of the equation is very doable for your project.

pilotui 

Hey this caught my eye. I have probably reset 20+ combines. Been funded 2xs and never kept it. You may be onto something here. What broker are you going to use, since commissions will be huge for acct and daily profit targets this small.

1) I may have beat you on the number of resets, but don't want to brag too much about it.

2) I use AMP Futures, and the cost is around 80 cents all in Round Trip. Ninja is very close. For some reason, my other broker GAIN doesn't think these are viable and they are still around $2.00 RT -- boo! So you better shop around.

3) My minimum daily target is $10. But if I see the setup before I finish at 9:30 am NY time, I may still go for it.

bobwest 

Just FYI, my impression from reading different posts is that brokers have generally settled into something like $1, give or take, per contract, all in per round turn on the micros. This compares to a range in the $4 area, plus or minus, for the regular eminis. Since the micros are 1/10th the size of the eminis, commissions are not exactly proportionate and will be a chunk out of your results when 1 point in MES = $5, but it's not as bad as I feared. If you make say 3 points and pay a buck for it, you keep $14 rather than $15. These are not official numbers, just ball-park. Your mileage may vary. Bob. ----------------- Edit: sorry to step into your thread, @sstheo. What are your costs going to be? If in line with this, I think the fees part of the equation is very doable for your project.

My cost to trade the micros round trip is 1.89 so I need 4 ticks just to break even and this is with having the life time licence. If I trade the minis its 3.66 but one tick covers this as one tick is 5 dollars. So you do get a better deal with
trading the minis.
4 ticks in the micros. Profit = .11 cents.
1 tick in the minis Profit = 1.34

So for me to make 10 dollars I would need a 24 tick run in the micro, but in the mini I only need 3 ticks and would
still make more than the micro making 24 ticks. So for me I'm trading the micros just till I get confident to switch
to the minis. They are fun, your doing live trading, and you don't blowup an account real fast.

How about tradovate? Anyone know what the total cost would be for their 0$ membership trading? .25c per side not including other *fees. I have used them in a couple of combines and was impressed...specifically with trading live from my phone. Anyway I am going to call tomorrow and get a firm total round trip cost. I have a NT lifetime but the post earlier about needing 4 ticks to just make .11c seems nuts to me.

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