Small account challenge - $591.12

Discussion in 'Journals' started by FTDK, Nov 20, 2021.

  1. FTDK

    FTDK

    I have decided that alongside with my more long term strategy i wanted to do some day trading again, so i have funded a small account with AMP.

    I will be trading during both EU and USA session and these are the futures that i will be trading:

    FDXS or FDXM
    FGBL
    FGBM
    MGC
    MCL
    M6E or 6E
    MES
    MNQ
    MYM
    M2K
    ZB
    ZN

    ZB requires $875 and FGBL $708.75, so i wont be trading those until i have sufficient margin and some more for the inevitable losing trade/streak.

    I started trading my account on november 8th with a starting balance of $591.12.

    [​IMG]

    Today, after 6 days in which i traded the balance of the account is $1184.42

    [​IMG]

    I only trade around certain predefined price levels, so it could be that there are days without any trades at all if those levels are not reached however most of the days i will have a minimum of 2-3 valid signals. I only will trade those signals if i feel that volatility and momentum are sufficient, i try to avoid ranging and choppy markets. I don't mind missing a few signals because of that, i don't fear FOMO. I prefer to miss out on a few trades rather than taking on to many trades, since the balance is so low, i cannot afford a losing streak so i have to be more picky. However this doesn't mean i will always be satisfied or can't be critical of my performance, for example last trading session, november 19th, i only managed to end the day at BE, even though there was sufficient momentum and volatility, i missed quite a few decent signals. I could have made a few very very nice trades, but i am capable of letting that go, it won't affect me in any way during that day or in the future, i know there will be plenty of other signals later on in either the same day, or in the next trading day.

    Once the balance starts to grow (hopefully), i will be able to take on more signals and i will also be able to scale in, take partial profits to let the remainder of the position run as long as the momentum is good. For now i will close my position entirely once i feel momentum is running out instead of letting it run to avoid giving to much profits back, the size of the account doesn't allow that yet.

    On average i am risking up to 5% of the account per trade, very risky, but i know my entries will have high probability if i execute them right and stick to the plan. However i do not recommend most traders to do the same, since the losing streaks will be hard to handle. Once the balance starts to grow the risk per trade will get smaller, however i am not sure yet when that point will come.

    I am not sure yet if this will be a daily journal, or something i give an update on every now and then. Maybe some charts will follow as well, later on, however this won't be a journal in which i reveal all the details of my trading system. It is a journal for me and to hopefully show that it is possible to grow a small account which is a much better idea compared to trowing money at those fake prop "funding firms".

    If you can't do it on your own with a small account, you won't succeed at those firms either. If you can do it there, you are better of with your own account anyway.
     
    Last edited: Nov 20, 2021
    Jaydom, johnnyrock, DevBru and 2 others like this.
  2. deaddog

    deaddog

    Great Start!!

    Double your money every 2 weeks and by the end of the year ....Billions!!
     
  3. kroxobor

    kroxobor

    Looks like mostly intuitive trading but let's hope you succeed with your hunch. Do you understand what's your edge when you determine a trading entry?
     
    gkishot likes this.
  4. FTDK

    FTDK

    Yes i do.

    I believe the right word is discretionary trading, i do follow a system and a set of rules. I mainly validate a trade by the price action and momentum around the predefined levels i watch.

    It isn't just entering the market when i feel like it is going either up or down.
     
  5. schizo

    schizo

    How do you monitor all 12 contracts? I have hard time with just one. LOL

    Anyway, kudos to your great start
     
    legionx likes this.
  6. FTDK

    FTDK

    I do have one 27 inch monitor on which i display 12 small charts just for overview and i have another monitor with my watchlist and a big chart for analysis linked to that watchlist, I don't have to watch all instruments at once since i only trade around certain levels and i get alerts once those levels are reached.

    Then i do have another monitor for yields, also with alerts, market internals and some news.
     
    easymon1 likes this.
  7. FTDK

    FTDK

    I doubt i will be able to repeat this every 2 weeks :D. Also, liquidity becomes an issue at that point, but that is a problem i wouldn't mind having :p.
     
  8. FTDK

    FTDK

    Very frustrating 2 days for me so far.

    Missed all the good moves yesterday, ended the day break even. Could have made a lot of money if i would have had more confidence and paid more attention to the markets.

    Missed all the good moves today, missed a long trade on ES and YM right after the open, then got stuck in YM that was barely moving while all other indexes were dropping.

    Current balance $1080.74 (will change slightly after commission correction).

    Probably done for today and maybe even for the week before i start chasing the markets instead of trading my system.
     
  9. FTDK

    FTDK

    I have ended the week around break even. Made a small profit of $42.32 on Monday, took one more trade on Tuesday for a total loss of $189.45 and made 1 trade on Wednesday for a profit of $140.45.

    Total balance at the end of the week is $1177.74.

    [​IMG]

    Glad to end the week around break even after a few very frustrating trading sessions.

    EDIT: it looks like something went wrong with the initial screenshots, i have no idea why and i am unable to edit the original post to reupload them.
     
    nooby_mcnoob likes this.
  10. yc47ib

    yc47ib

    I think this journal will last no more than 3 months.
     
    #10     Nov 27, 2021