Re: Trading on 10000$
Posted: Sat May 29, 2010 4:46 pm
I´ll try with 1min chart for trading and 5min for tendencies and how the market goes.
I was clearly making much more money with the 10 contracts but i´ll just need to be more focus.
I know i cannot trade when the price gets stuck or when there is no way to tell where its going.
I just need more time to practice.
like i said i still have a few month or more before i go live so... all the time to find and practice my strategy. I don't think i´ll change it much more.
I´ll show you my numbers.
Best regard
Thank you
P.S. What is a "fluke"? What do you meen?
I was clearly making much more money with the 10 contracts but i´ll just need to be more focus.
I know i cannot trade when the price gets stuck or when there is no way to tell where its going.
I just need more time to practice.
like i said i still have a few month or more before i go live so... all the time to find and practice my strategy. I don't think i´ll change it much more.
I´ll show you my numbers.
Best regard
Thank you
P.S. What is a "fluke"? What do you meen?
MonkeyTrader wrote:1) I don´t think you can change the amount of money in your paper account. Best thing is to ask ToS support, they may be able to set something at their end for you. I´m not sure.
2) 150$ per hour sounds OK to me. With one contract ok. If you can do it "consistently" then its good, if its a fluke then its "bad".
3) 133tick on ES is pretty fast, especially compared to a 5min. As for answering which is best, thats down to you and the style of trading. theres a vast difference though, did you try 1min ?
It seems interesting to me that you made money with 10, but you started to lose money with 1.... I could understand this if you were scaling out with the 10, but as (i think) you were all in all out on 10 as you are with 1, then it makes a point I feel.
Is the reason for this the fact that you are trying to hold 1 for longer than you would the whole 10 ? As the rewards from 1 are rather different than 10, especially when you consider commissions and pure scalping.