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Identifying value is the key to my trading. I use price and volume profile for this purpose. All setups that form based on a strategy as not equal - Market Context determines the probability of any particular setup. Market Internals is another key …
Can you help answer these questions from other members on NexusFi?
Would not the expression, "the turtle wins the race" be applicable. Someone that has a consistently profitable trading plan over time would slowly build up a nest egg. For example the first three months they trade 1 contract. The next three months they trade 2 contract and so forth. That over time their capital would continue to grow???
A long time. If you have a $10K account, 2% is $200. Factor in slippage and commission, and it is around $160 per trade. That small of a stop will get hit in many markets, unless you have a pinpoint entry.
You have about summed up why most will fail after following all the rules, nobody has that level of accuracy when entering a trade, you have to give the market room to breath, $10k and 2% simply doesn't cut it. $100K minimum, prudent position sizing and give the market whatever it requires to generate a positive expectancy even if that is 10 or 20 percent. Most people won't do this, yet it works consistently for me and has for many years. Other long term full time traders I know take a similar approach
Cheers John
For myself, i am employed and self directed my retirement plus had another account for more speculative purposes. I think this is how most people do it. For my work, I am allocated a risk budget.
Here is the issue, if you knew how to pull substantial money out of the markets consistently you wouldn't need to ask the question. Therefore no amount will be enough to make you successful. If you are starting out don't give up your day job and trade CFDs X1 until you learn what to do, hopefully at this point you will figure out a way to create, beg or borrow enough to get serious AFTER you have the knowlege to not squander what you have.
Cheers John