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Trading: Mini and micro US Indexes/ DAX/ FX/VIX/GOLD
Posts: 180 since Apr 2010
Thanks Given: 53
Thanks Received: 164
Good luck, Steve. Maybe not possible to find opportunities every day? So weekly goals will be less pressure? Maybe leverage more at the beginning and use multiple entries and no stops (well, max loss stop strategy). Be flexible and let the some of the position run/ leave as a swing.
Yes, I agree. Good observation on the daily goal. My implied true goal was a running AVERAGE of 1% per day. The spreadsheet I post in my journal has an average column across the top.
Additionally, I will start to use a second position soon and try for larger winners.
As of this moment, the leaderboard says there are 1,416 participants.
Here is the leader board after the first 20 minutes:
What caught my attention is that right out the gate is appears that most traders are wrong in their trades. Only 12 of 47 traders are profitable out the gate. That is about 25%.
I wonder how many will trade this simulation with the full number of contracts that the sim balance of 100k will allow, rather than the much smaller size that they could trade in real life. Will the eventual winner will be someone who controls his/her risk and shoots for consistency or someone who goes for the big win and shoots for the moon. Hmmm.
Still, I hope that anyone who is in it finds some good from it in terms of experience, one way or another.
This is definitely no criticism of anyone's choice to participate. It will be a challenge that is hard to succeed at in the face of all the competition. And it may help popularize the micros, which will benefit many traders.
It will be good to follow the results, and I will applaud the winner.