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this is for cme- i did this just to show when i am locked to 1 contract -i can't leverage or overleverage in -
today i used no chart indicators at all -the chart was blank other than candles and side prices -i used no rules either -as why mark a chart if you are going to break your rules -so today i traded 4 contracts -all single positions as i am locked to 1 contract
every trade was a guess -as when you dont stick to your rules you may as well be guessing-
bought 53 out @ 52.50
bought 48.75 out @ 43.25
bought 43.50 out @ 42.25
bought 42.75 out @ 42
remember no chart marks at all -every trade was a no-rules guess
loss today was 400 plus 20 in comish
i am done for the day other wise i would try and recoup by the rules short to 36 and reverse
so wed we will be back to our strick rules and a no -guess system-
bh -being its early in our goal -there are some who will watch this thread and understand in the end that if there is a real stiff plan of attack -you can trade with a small account and watch it grow - if you look through my 4 trades today you will see the 1 trade that ruined the day -at the open i guessed long and was only looking for about 9 to 10 ticks -i dont think i ever realized 2 -and it went against -but if you look at the other 3 trades and compare the exits you will see why everyone needs and hard exit plan -i dont use hard stops -but in normal trading days -i use a 7 tick max exit -if this is not in place and you are overleveraged -than cme is correct in saying you can have a blow out day and kill the account -the numbers will take care of themselves if we take care of the plan
Give the guy a break, he is trading e-mini S&P with a trading plan as good as majority of the others' on this board. $1000 these days will not even buy a 3-credit course in any major university.