I'm known as HoustonRob on there. I ALMOST made their combine in the early days (2010-11). I did make it through the combine in 2013. I blew out because I was more of a swing trader than a day trader. My work schedule changed recently and my mornings are free now. I joined the $150k combine. I've been trading 10 lots of NQ on a 5 minute time frame. I generally only trade 8:30-10 central time. My first day of the combine on Monday I made $13k but I didn't realize you have to pick the stop loss or buy sell limit so I unintentionally didn't have a stop loss. On Tuesday I made $10k and no problems. Wednesday I had technical difficulties and accidentally accumulated too many contacts. Today my combine account wasn't ready so I traded my practice account and made almost $24k but I went $400 over the daily loss limit. I'm out of town tomorrow and will be starting a fresh combine on Monday.
10 lots ten years ago is a lot different than 10 lots today on NQ. Yer not gonna' make it. And I do not mean to be a Debbie-downer, but you should NOT be messing with 10 contracts on a 150K combine. That's not how it works in the real world.
I have to agree with Overnight. The ONLY reason and rational a trader is OVER-LEVERAGED, is they have yet to learn the value of risk management. They are only looking at profit and fail to realize that trading is a long term-growth over TIME profession. Amazing, but very few are willing to build their equity curve with a systematic process of slow growth. If you share with the average trader, that's it's a good plan to stop trading after winning 2 or 3 trades a day, they'll laugh you out of the building. Nothing in life grows fast overnight, and especially not trading. But regardless, still wish you trading success.
you are making mistakes after mistakes it is time for you to revamp your trade plan. and make it solid solid.
Powell opens his mouth, and hopefully this happens... Don't bet on it though. Just bet that it is going to be a very volatile day. (It's the next Fed rate hike announcement. Shouldn't have to explain this to you, but you HAVE been away for a decade. So you get a pass I guess).
The learning, maturity, observation, and wisdom can take a decade to truly master -- Similar to obtaining a Ph.D But the actual trading, and results and profits, can really happen fast after that. Really fast, Assuming you have a clear understanding of the process of the trade, and tactics. and a Holy Grail of some sorts, But most traders are rather, just, purely gambling. Even though they think they have skill and understanding.
MacBookProHo you are correct. I only made the combine in the summer of 2013 was because it was during the taper tantrum and it confirmed my bearish bias. This time I don't have CNBC on the background and read no news before trading. I trade I only what I see without bias. I'm willing to buy or sell the market without thinking about it.