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Personal Challenge: From $1k to $100K


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Personal Challenge: From $1k to $100K

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  #21 (permalink)
Legendary Embracer of Uncertainty
Indianoplace, IN
 
Experience: Intermediate
Platform: SierraChart
Broker: CQG
Trading: All Micros, especially the ones that move
 
Rrrracer's Avatar
 
Posts: 2,181 since Feb 2017
Thanks: 14,590 given, 8,113 received

Nice to see a fellow Naptown trader on FIO. Good luck on your challenge, following along.

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  #22 (permalink)
Indianapolis, IN
 
Experience: Advanced
Platform: TOS, IB, NT8
Trading: NQ, CL
 
Posts: 38 since Aug 2018
Thanks: 22 given, 31 received


Rrrracer View Post
Nice to see a fellow Naptown trader on FIO. Good luck on your challenge, following along.

Awesome like to see us Indy guys on the board! Hit me up on PM if you want to meet up and get beers sometime. Thanks for following - always appreciate advice along the way.

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  #23 (permalink)
Legendary Embracer of Uncertainty
Indianoplace, IN
 
Experience: Intermediate
Platform: SierraChart
Broker: CQG
Trading: All Micros, especially the ones that move
 
Rrrracer's Avatar
 
Posts: 2,181 since Feb 2017
Thanks: 14,590 given, 8,113 received


I think it's just us as far as I know LOL. Always down for a beer or three, and have lots of advice to offer on blowing out accounts

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  #24 (permalink)
Indianapolis, IN
 
Experience: Advanced
Platform: TOS, IB, NT8
Trading: NQ, CL
 
Posts: 38 since Aug 2018
Thanks: 22 given, 31 received

Long day and putting in a quick post before calling it a night for a couple hours. Overall I was again disappointed in the trading aspect. I suspected a long was the way to play it but I got caught in the chop shortly after the open trying to catch a long around the 7720 level and then had to play catch up for the rest of the day. A loss to end the month but still profiting over the past week and change. Hoping that I can catch some good runs this month so I can put the past week behind me.



Daily chart: Potentially starting October well in the green as I write and we'll have to see if that sticks for the rest of the overnight session. Bulls are trying to break back out of the August chop range and I could see us drifting higher as China is off for the rest of the week. Impeachment news likely to keep the nerves in the market and we'll have earnings starting in a couple of weeks as well. The next pivot point I have to the upside is just above 7900 and with the daily ATR positing in the 100's lately we could easily see that at the start of the month.


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  #25 (permalink)
turkey
 
 
Posts: 6 since Oct 2019
Thanks: 1 given, 3 received

What is your risk % per trade? Are you using a fixed one or it depends on the trade setup?

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  #26 (permalink)
Indianapolis, IN
 
Experience: Advanced
Platform: TOS, IB, NT8
Trading: NQ, CL
 
Posts: 38 since Aug 2018
Thanks: 22 given, 31 received


tradermc View Post
What is your risk % per trade? Are you using a fixed one or it depends on the trade setup?

Thanks for the question. Right now I'm risking $200/contract which is automatically set when I enter the trade. Given how small the account and my way of trading reversal setups I try to move the stop up to break-even if I happen to get a nice move once I get in the trade. That said, this last week and change has been really choppy (for me) and it could be that I've been too eager to try to get cash into the account so I have a cushion.

I should also note that NT intraday margins are $500 for NQ so I've tried to leg in multiple contracts as well and this has only helped to erase some nice intraday gains up to this point. However, the goal is to get this account's value off the floor so I can hold contracts for a longer duration - just really hasn't happened yet.

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  #27 (permalink)
Indianapolis, IN
 
Experience: Advanced
Platform: TOS, IB, NT8
Trading: NQ, CL
 
Posts: 38 since Aug 2018
Thanks: 22 given, 31 received

Well the bad news which is unexpected - I didn't trade yesterday and haven't traded today as our A/C blew out and of course it's going to be a record hot day for October before we cool down. We've decided to replace the unit and I figured since this account really hasn't gone anywhere for a week and it's available money then I'm just going to withdraw and help pay for the replacement.

Ray wins this round. Thanks for the folks who followed along over the past week. Hopefully I'll pick this back up again soon as it looks like Q4 is going to be a fun ride. Good luck to all and cheers.

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  #28 (permalink)
turkey
 
 
Posts: 6 since Oct 2019
Thanks: 1 given, 3 received


Boilmakrjs View Post
Thanks for the question. Right now I'm risking $200/contract which is automatically set when I enter the trade. Given how small the account and my way of trading reversal setups I try to move the stop up to break-even if I happen to get a nice move once I get in the trade. That said, this last week and change has been really choppy (for me) and it could be that I've been too eager to try to get cash into the account so I have a cushion.

I should also note that NT intraday margins are $500 for NQ so I've tried to leg in multiple contracts as well and this has only helped to erase some nice intraday gains up to this point. However, the goal is to get this account's value off the floor so I can hold contracts for a longer duration - just really hasn't happened yet.

Thank you for the answer and good luck with your challenge.

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