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Micro E-mini Madness (1% per day)
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Micro E-mini Madness (1% per day)

  #1 (permalink)
Holladay, Utah, USA
 
Trading Experience: Intermediate
Platform: Multicharts
Favorite Futures: NQ YM
 
sstheo's Avatar
 
Posts: 145 since Oct 2012
Thanks: 113 given, 389 received

Micro E-mini Madness (1% per day)

I have been doing the "Funded Trader" route with TST, OneUp/MES, and LeeLoo, for the past few years. I have a journal on my journey with MES.

In that journal I got some comments that helped open my eyes to the benefits of the new CME Micro E-mini contracts and how someone might do better opening their own micro account and slowly building it up instead of getting on a "combine mill" that most people fail -- and only enriches the combine company.

Specifically, I have to thank @lemons and @caacapital for helping me see the light:
While I think experienced traders can benefit from the combines and funding, they are very bad for new traders. Most combine participants FAIL.
Why? Because if you complete the evaluation in one month, then the required ROI based on available capital is 9% per day! This is clearly unsustainable and puts additional stress on a task that is already one of the hardest in the world.

On OneUp, you have to earn 9% per day, based on available capital if you do it in one month. $9000 profit/20 trading days=$450. $450/$5000 max loss is 9% per day or $2,250% growth per year. If you go two months, that is still 4.5% per day growth. Doable? Of course. Realistic over the long haul? Of course not. The best hedge funds are happy to get 25% ROI for an entire year.

Therefore, I officially have changed my stance to the following:
After you are consistently successful on a sim account, then open a live futures account and trade only the CME Micro E-mini contracts until your account is at least $5,000. At the $5,000 mark, it is large enough, and you are experienced enough to safely handle one regular E-mini futures contract in your own live account, allowing you to keep all the profits.
While I am still trading with both MES and LeeLoo, I have decided to put my money where my mouth is. I just funded a live AMP Futures account with $1000. And I will now record my progress.

Here are the parameters:
  • I will start with one (or two) Micro contracts.
  • I will allow an additional contract only after adding $500 in profits. (i.e. at $1500 I can trade with 3 micros)
  • I will attempt to earn at least 1% per day.
  • Once I have earned $5,000, then I will switch to one E-mini contract
  • I will continue to shoot for 1% per day
  • I will add a new E-mini contract for each $5,000.
  • This journal will be over once I reach a balance of $12,000 in profits. (1% for 250 trading days)

Please follow my progress, and if you are considering the combine mill, WAIT and consider joining me in your own humble beginnings with your OWN LIVE ACCOUNT trading just the Micro E-minis.

Not only do you get to keep 100% of the profits instead of giving 20% to the funding company, but you don't have to follow their many rules. While many of these rules are good, they get in the way of some excellent traders who have different styles.

Micro E-mini's I propose are the way to go.

Let's see if I can pull this off. 1% per day.

Is it MADNESS?

Perhaps....


Last edited by sstheo; July 14th, 2019 at 04:36 PM.
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  #2 (permalink)
Quick Summary
Quick Summary Post

Welcome to my Micro E-mini futures trading journal. I have a live Amp Futures account with $1000 in it. This is too small to trade Emini's. But perfect for trading the new Micro contracts offered by the CME. My goal is to grow the account at least 1% per day up to $5,000. Then I will consider the E-minis. This "micro" plan is an alternative to the TopStep, OneUp, LeeLoo, Earn2Trade combine mills.


Last edited by sstheo; July 1st, 2019 at 03:14 PM.
 
  #3 (permalink)
Virginia Beach, VA
 
Trading Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: YM, NQ, ES
 
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sstheo View Post
Is it MADNESS?

Not at all! I'll be following and win lose or draw, wish you the best.

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  #4 (permalink)
Lenox, Ma
 
Trading Experience: Beginner
Platform: TOS
Favorite Futures: US Equities
 
Posts: 114 since Dec 2018
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Micro E-mini Madness (1% per day)

I think that averaging 1% per day is possible but unlikely without taking excess risk.

1% compounded daily turns your $1000 into nearly $2M in three years. (if my math is right)

Will be interested in tracking your progress!


Last edited by mtzimmer1; June 27th, 2019 at 08:04 PM.
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  #5 (permalink)
Holladay, Utah, USA
 
Trading Experience: Intermediate
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Favorite Futures: NQ YM
 
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sstheo View Post

Let's see if I can pull this off. 1% per day.

Is it MADNESS? Perhaps....


1% per day growth from a $1000 start puts me on track for $12,000 profits in one year.


Last edited by sstheo; June 28th, 2019 at 06:40 AM.
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  #6 (permalink)
Holladay, Utah, USA
 
Trading Experience: Intermediate
Platform: Multicharts
Favorite Futures: NQ YM
 
sstheo's Avatar
 
Posts: 145 since Oct 2012
Thanks: 113 given, 389 received


Brandenton View Post
Not at all! I'll be following and win lose or draw, wish you the best.

Thanks Brandenton

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  #7 (permalink)
Holladay, Utah, USA
 
Trading Experience: Intermediate
Platform: Multicharts
Favorite Futures: NQ YM
 
sstheo's Avatar
 
Posts: 145 since Oct 2012
Thanks: 113 given, 389 received


mtzimmer1 View Post
I think that averaging 1% per day is possible but unlikely without taking excess risk.

1% compounded daily turns your $1000 into nearly $2M in three years. (if my math is right)

Will be interested in tracking your progress!


I agree that 1% long term is unsustainable, but for the first year it should be very doable.

And maybe even the second year. The total at year two would be about $135,000+.

This journal will officially end after the $12k mark is reached. Then let's see what new vistas open up in my trading journey.

My purpose is to show those willing to listen that they do not need TST, OneUp, LeeLoo, Earn2Trade (and many others cropping up daily) in order to prudently get started trading futures.

IF someone is patient, the Micro E-minis have made getting started very doable. Despite a litte extra slippage and commission expense, this is now a great LIVE proving field that should develop habits worthy of the best futures traders.

The goal again is to grow as a trader in technique, discipline and build enough profits so the trader can go to the regular E-minis as soon as it is safe to do so. I define safe as $5k to $10k in the account IF the trader can keep the max daily losses reasonable and has a good track record.


Last edited by sstheo; June 28th, 2019 at 12:19 PM.
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  #8 (permalink)
Holladay, Utah, USA
 
Trading Experience: Intermediate
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Favorite Futures: NQ YM
 
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Posts: 145 since Oct 2012
Thanks: 113 given, 389 received

Account rules

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!

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  #9 (permalink)
Sydney+Australia
 
Trading Experience: Beginner
Platform: NinjaTrader
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Posts: 27 since Feb 2014
Thanks: 29 given, 47 received


sstheo View Post
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 to putting it up. I think it is also worth outline what would be your execution based upon. Are you going to watch just Micro contract or NQ and YM and then make an execution in Micro.

It should gives us more clarity on your approach.

Otherwise it looks straight forward and plan is good.

I am ready to see the outcome of it.

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  #10 (permalink)
Holladay, Utah, USA
 
Trading Experience: Intermediate
Platform: Multicharts
Favorite Futures: NQ YM
 
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Posts: 145 since Oct 2012
Thanks: 113 given, 389 received



tr8d3r View Post
Thanks Steve to putting it up. I think it is also worth outline what would be your execution based upon. Are you going to watch just Micro contract or NQ and YM and then make an execution in Micro.

It should gives us more clarity on your approach.

Otherwise it looks straight forward and plan is good.

I am ready to see the outcome of it.



I am a momentum scalper who is learning to use volume profile and bigger targets. Let's see what I can do with this account.

I am watching the ES, RTY, NQ, and YM. I use cumulative delta and volume profile, and Support and Resistance levels. I watch the 50 SMA on multiple time frames on the NQ and YM. On my fastest chart I use HA candles and a standard MACD. I will be happy to post more info later.

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