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Either option could work. For more trades per day, the biggest problem is that your losses would likely have to be smaller, which makes it a lot more difficult to develop a long term positive trading system.
As an example, I currently trade a couple of Euro strategies with my own money, and they have per contract stops around $1000-$2000. For the Combine, I created strategies with $500 stop loss. Creating a $500 sl system was a ton harder than creating a $1K sl system.
For revising the system, I hate to do that, since usually it leads to better backtested results, but not better live results. That revision process can easily become curve fitting.
Kevin; It must an offshoot of Murphy's Laws that whenever you post trades you will end up in a period of drawdown. It has happened several times to me in the past. 2 months of easy trading and as soon as I attempt to show my skill, bam; 10 losses in a row.
I completely agree with @deaddog , and I am also looking forward to your postmortem. (And, of course, it ain't over yet!)
This has been an informative and thought-provoking thread. I hope you finish well, and I hope you are will keep going with it.
I recall that you started with the idea that you would enter a much smaller Combine, and also that you didn't have that much time to create and test the systems that you would use. Granted that the current results are a very small sample, but what are your current thoughts on these systems? What would be different if you started fresh?
For the first trade, I started about $150 above the max drawdown. Meaning, a closed trade loss greater than $150 meant certain failure. Since my stop for even 1 contract is $425, I had nothing to lose...so I traded 10 contracts, and made around $1600 on the trade.
Second trade was only 2 contracts. It made $700.
Third trade was a goof, 1 contract.
Tomorrow will be between 2-4 contracts, except my win high percentage overnight system, which may be up to 10. I say that because I am heading out in a bit, and will likely enter any overnight trade late. So, I might be able to take on more contracts, with same risk.
Realistically, passing the Combine seems out of the question. Hitting breakeven is still in play, however.