Opening an account with Ninja Trader. Going to Daytrade futures. Mainly (M)ES I believe. Current ATR is about 70 points, Therefore MES to begin with. Trading price action on the 1min chart. Trend following super little trends. Minimum 1Reward to 1Risk. Goal is to 10 fold the account in 2023, From 2,000 to 20,000 dollars. Let’s see. I’ll keep you updated Wish you all a happy new year O^v^O I don’t have the patience for swing trading equities. Especially during this bear market. Closing my IB account.
I have issues trading futures with IB, + the platform isn’t Daytrading friendly. Cost wise, I don’t know which is better. EDIT: Pretty sure NT isn’t the cheapest option, But I don’t care paying for quality services.
Dude didn't ya trade ES before when you joined a combine? Then you switched over to trading stocks. So why you dabbling in futures again? I don't think this is good for your overall sanity.
You're right. We all make mistakes. I'm just compounding them all. Even if this equity trip was enlightening. I've long lost my sanity over the toilets. Not an Elite trader. More of a Degen trader. Be warned. Had several accounts, Capeya, K-Pia, Sekiyo and Co Different journals but none with happy end. That's how it is, Dude. We ain't failing till we quit.
Good luck. It can be done. I hope you do it. Relax. You have a whole year. Would it be ok for to ask you what behaviors have kept you from achieving what you obviously wish to achieve?
Thank you. That's just a gift I've asked Santa Claus for next Christmas. I'll try my best to be a good boy for him to surprise me. The process definitely leads to the outcome. It's a day to day thing. No need to rush. Munger or Buffet wrote something like ... Amateur traders want too much with too little. That's definitely the root cause of my failures. Taking too much risk, Disregarding the downside, Forcing the trade. Not following the plan. Asking for the impossible from the market, overall. Relaxing, in this case, is a sound advice. Thank you Buddy !
So, maybe, your goal shouldn't be $2K to $20K in 2023? Maybe instead, this time around, your goal should be "Make it 10 consecutive days religiously following my trading plan?" I'm reading your own words above and here is how they sound to me: "I, Sekiyo, want too much with too little and that is definitely the root cause of my failures but fuck it I'm going to do it all over again anyway and maybe this time it will be different even though I know I'm about to piss this $2K away again in a matter of weeks." Why not rethink your journal, and make this one about fixing the root causes of your failure, rather than just repeating the same failure again? Would you mind sharing the details of your "trend following super little trends on the 1-minute chart" system you propose to trade? Because for this to work, you need a method that is super mechanical, 100% mechanical with 0% discretion. Do you have system like that in mind?
You’re reading my words right I definitely have a plan, Just the “Super trend” is still in construction. I could word of mouth it over a programmer, Even if there‘s more, known unkowns, in a system. It’s swing highs and lows around PA. Buy breakout. Sell breakdown. Stop at the opposite swing, Move the stop for each higher low, Add more on each consecutive swing break. Swings are systematically defined. Super trend is to avoid choppy action, Filter out slow markets from the equation. I definitely need a system and stick to it. The tough part is to keep faith after a losing streak. The only way to learn is to practice, I definitely know what it takes … Practice one kick a thousand times. But no one’s going to pull the trigger for me. You said it first: The goal is to religiously follow a “proven” system. Not all the turtles made money. Because some implementations were flawed. Mine isn’t proven but from what I’ve seen, There’s a potential to be exploited. It’s up to me to make the most, from the best of it. Don’t be a sucker, loser (L) Hahaha. This time is going to be different, Only and only if I think and behave different. Best wishes.
Cheer up, bro. I didn't mean to sound critical. Just wanted to point out that specialization in one instrument is better than going all over the place.