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i am actually thinking of switching to M6E as it is much much cheaper to trade than the TF and i defenitly need to go live because i think staying to long on sim screws my mind. i am also catching myself on making stupid mistakes and ending up playing around silly cause i always have in mind that i am actually trading without any risk. even though one tick is just 1.25 it is real money and this forces you to be more concentrated as you could lose real capital.
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but i am not sure yet...
Yes, I understand. I felt much the same way until I kept slowly draining my account.
I started live trading after 4 weeks with 3 contracts. The next week I went to 10 contracts and then 6, 3 etc..
Then I took a 1 month break from live trading and went back with 3 contracts then 6, then sim again... Then went live with 3 again etc.. etc...
I would be up a couple thousand, then down a couple thousand and my emotions would sabotage me to the point of draining my account. I personally trade no different then if I was trading cash but saving myself from draining my bank account, but I understand how a great many would feel that way if they haven't been subjected to the ups/downs of live trading.
I was one of those people who made a lot of money through sure luck when I started technical trading and then lost it and some more...
I should have all this documented in my taxes, but I honestly quit counting my losses as from my rentals I just have more losses then I need at the moment, but if I were to guess then I am down about 270K overall from the last 4 years of trading. However, using this system here on this thread I am positive believe it or not... (Mainly due to my wife being profitable at the time)
That is why I am in no rush to run to cash for myself...
I started trading the NQ after learning on the TF with NFT. I find the NQ less volitale, than the TF and easier
for begining students. It's $20 per pt vs $100/ pt on Tf. Similar to the ES but not so jumpy.
I think until I can show consistent profitability even on SIM than I will stay SIM.
I UNDERSTAND the differences. I have invested over a few hundred grand in the last few months of investors as well as my own capital into rental properties so the 100.00 per point isn't what is keeping me from live. (although I don't have any cash I would like to give the market at this point, so... that is a negative affecting me right now)
If I can't do it on sim like I would live then there is no point....
Anyone can fool themselves with HUGE stops and poor R:R and say, Wow, I am a profitable trader... For how long and one bad trade knocks two/three weeks of profits away etc... Been there, done that...
Another excuse is that I am too busy with my other past time which is staying alive to feed my family.
Lately the market is not making any sense to me, live or sim.. haha...
YES, my wife trades replay daily as we are too busy with our two kids.
Currently this is my life:
Trade @ 4am in the morning (ouch)
2 very young kids + wife that is homemaker, must provide (double ouch)
30+ rental properties (ouch ouch ouch ouch, but I don't manage them thank god!)
Developing a 25 unit subdivision which we have broken ground on (ouchie...)
Renovating a 450K home in Hawaii, Full Rehab (ouch)
Run a free Crossfit group, 3x week (ouch!)
Doing too much with too little time to really focus on trading. Unfortunately that is where I am at this stage in my life. Soon I could just retire from my rental properties (like the good old days... boy I miss those..haha) and focus on my trading and I think that will mark a big difference. Working 16-18 hour days is not fun with maybe 2 of those to trade.
Well, I could have been out even today, but I don't know if it was greed or me saying to myself (HOLD MY TARGETS). I guess I am late on the bandwagon of going long! haha... I looked at the strength again and thought we could find a new high and decided to go north. I was wrong. I kept my composure, lasted it out and made a little bit back, but I didn't take profit where I tried to as it moved back down and it cost me...
I also kept trying to go short (not in video) but wouldn't get filled and just gave up. They were not good and easy areas anyways.
I have this issue with 'being right' that is holding me back. hmmm....
Per Mr. Milton, I am seriously considering a break for a bit until things slow down in my personal life. It is all becoming a bit 'too much' just at this moment to keep up the trading. Will play it day by day.
You should not use M6E to chart if you are trading it. Use 6E to chart, and M6E to execute if you are desiring micro size.
Anyone trading micros should not be scalping, so I really believe the M6E is liquid enough and small enough spread for any trader likely to want or need to use it.
(Mainly due to my wife being profitable at the time)
