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Trading the ES - Beginners Luck


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Trading the ES - Beginners Luck

 
crazyjk
Sydney Australia
 
Posts: 42 since Jun 2021
Thanks Given: 8
Thanks Received: 17

Hey Guys,

Been a lurker thought i would start a journal, Living in Australia and day trading our local markets for over 2 years and doing quiet well works become quiet busy so i got introduced to futures trading by a member of a discord as trading opens 11:30pm which suits me perfect.

Create a AMP account, 5th May deposit 2K proceed to lose 1400 that same night.. 2K deposit following night a small win followed by a small win the following night what happens over the next few weeks can only be described as a "Hot Streak" account grew to $32,000 in a month. I took profits along the way and with currency conversion to AUD it is quiet sweet.

Now i have withdrew most my capital as i am becoming quiet reckless i don't trade with stops i don't have a trade plan i do it all on feel and gut instinct.. i have left 2K in my account so lets make it a second month with big gains.

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 tr8er 
Europe
Market Wizard
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
Posts: 704 since Jan 2017
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crazyjk View Post
Hey Guys,

Been a lurker thought i would start a journal, Living in Australia and day trading our local markets for over 2 years and doing quiet well works become quiet busy so i got introduced to futures trading by a member of a discord as trading opens 11:30pm which suits me perfect.

Create a AMP account, 5th May deposit 2K proceed to lose 1400 that same night.. 2K deposit following night a small win followed by a small win the following night what happens over the next few weeks can only be described as a "Hot Streak" account grew to $32,000 in a month. I took profits along the way and with currency conversion to AUD it is quiet sweet.

Now i have withdrew most my capital as i am becoming quiet reckless i don't trade with stops i don't have a trade plan i do it all on feel and gut instinct.. i have left 2K in my account so lets make it a second month with big gains.

The result is great (congrats), but it sounds like an all-in strategy which worked well, but on the long-run it will not work, so it was a good idea to take the money and run

You know your problems: no stop and no plan, nothing is easier to solve issues like these, set stops, create a plan (and trade it) and grow your account again

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crazyjk
Sydney Australia
 
Posts: 42 since Jun 2021
Thanks Given: 8
Thanks Received: 17


No denying a trading plan with stops and a strategy is the correct way to trade. Does it work for everyone? I don't know about that.

I am just starting out and getting my head around everything futures related. And growing a small account requires risk and some luck i guess.

Made 1 trade on open this morning took a short @ 4228.75 closed @ 4223.25.

Cant post screen shots yet as i need 5 post ill work on that this evening...

Starting Balance - $2063
Profit - $1100
Account sits at - $3163

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 tr8er 
Europe
Market Wizard
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
Posts: 704 since Jan 2017
Thanks Given: 220
Thanks Received: 709


crazyjk View Post
No denying a trading plan with stops and a strategy is the correct way to trade. Does it work for everyone? I don't know about that.

I am just starting out and getting my head around everything futures related. And growing a small account requires risk and some luck i guess.

Made 1 trade on open this morning took a short @ 4228.75 closed @ 4223.25.

Cant post screen shots yet as i need 5 post ill work on that this evening...

Starting Balance - $2063
Profit - $1100
Account sits at - $3163

Again, a great result.

You trade 4 contracts on a 2k account? I guess your margin is $ 500.--/contract ES. It seems the trade went straight in your direction. If the trade would just go 1 point or less against you, you get a Margin Call. I hope you know that.

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crazyjk
Sydney Australia
 
Posts: 42 since Jun 2021
Thanks Given: 8
Thanks Received: 17

My broker is AMP futures margin is $400 per contract so not too bad.

Got to take some risk to grow the account once we are at 6K we will have some breathing room.

 
 
MNSTrading's Avatar
 MNSTrading 
Grand Rapids, Michigan
 
Experience: None
Trading: Commodities and Russell
Posts: 158 since Nov 2015
Thanks Given: 59
Thanks Received: 336

I did the same thing five years ago, started with 10k and had 30K in 2 weeks.
It was absolutely beginner's luck. It lasted maybe another week I want to say.

Go to the micros, please, a dollar a tick. You'll be so much happier later on.
As was said above, luck only holds for so long.

Coming, they can't be denied. Going, they can't be detained.
Visit my NexusFi Trade Journal
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TraderTS's Avatar
 TraderTS 
Texas, USA
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: AMP Futures w/ CQG Data Feed
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
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crazyjk View Post

Now i have withdrew most my capital as i am becoming quiet reckless i don't trade with stops i don't have a trade plan i do it all on feel and gut instinct.. i have left 2K in my account so lets make it a second month with big gains.

I was not going to share my opinion and consider your situation as "Beginner's luck!"
... until I saw your next post as below:

crazyjk View Post

No denying a trading plan with stops and a strategy is the correct way to trade . Does it work for everyone? I don't know about that.

I am just starting out and getting my head around everything futures related. And growing a small account requires risk and some luck i guess.

Made 1 trade on open this morning took a short @ 4228.75 closed @ 4223.25.

I have been there... done that... lost it ALL and more!
As a newbie, I've traded without STOP--bad habits in trading Stocks that took me years to learn to LOVE stop-loss when trading Futures and regain CONFIDENCE to become profitable again.

Have you ever traded during a Quarterly Rollover? or FOMC Meeting? or major News? ahh... Twitter?
Hmmm, your 5 points gain could be reversed to 50 points or 100 points LOSS and the four contracts without stops in a $2000 account... could be wiped out in nano-second if not in minutes.

Please take the time to learn to trade the "right" way appropriately!


Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
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crazyjk
Sydney Australia
 
Posts: 42 since Jun 2021
Thanks Given: 8
Thanks Received: 17

Interesting point of views and replies..

I was sensible and withdrew my profits before any sort of draw down.

But here to try grow a small account balance, i pick my spots and enter and don't trade just to trade.

Time will tell...

 
crazyjk
Sydney Australia
 
Posts: 42 since Jun 2021
Thanks Given: 8
Thanks Received: 17

ES had so much potential today felt i didn't capitalise its full potential

Shorted from 4235 and a long position from 4220

1am here and struggling so off to bed zzzzzzzzzzzz

Proftit - 1387
Balance - 4531

Captureem21

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 elitecamper 
McAllen, TX
 
Experience: Advanced
Platform: Multicharts, Jigsaw
Broker: Ironbeam
Trading: ES, ZN, ZB, ZF
Posts: 104 since May 2013
Thanks Given: 108
Thanks Received: 133


I wouldn't call it luck. Its more like skill because you are seeing the market with fresh eyes. What happens is we get lost and identified and start making poor trades. So the trick is to see the market with fresh eyes everyday. That involves trading and then forgetting about it until the next trading session. If you are always in the market and thinking about it night and day then you are lost.

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Last Updated on June 1, 2022


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