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I said I would start a small account challenge that is real money and is live.
I am looking for suggestions on the following before I open the account.
Feel free to state answers to questions as well as pose your own.
This journal will incorporate my feelings and thoughts n rants about multiple markets as well as some forecasting and ideas.
I will be primarily trading micro futures but will trade the bigs sometimes
Here are some questions?
1. What amount to start with for a small account challenge?
2. Should I trade a different style, mkt, time frame, or futs vs options
Every week to challenge myself? Scalp vs day swing vs swing
3. Daily loss limit? If yes what dollar amount? Or % of gains or acct
4.most orders will be mkt orders agree
5? How should I show my performance? Acct statement every 2 to 3 days?
6. At what point do I stop trading? What is my gain % goal or dollar amount. Say 200%net gain
This small acct challenge takes a back seat to my actual trading. My point is the small acct is a pet project by no means ful focus.
Thank have a great week
Can you help answer these questions from other members on NexusFi?
I will start with $ 1,500 us dollars
2. I will post my statement blacking out pertinent info
3. Depending on what platform I use I might post charts with buys n sells
But not always
4. Will post entire week of trades
5. I will close the account when at zero, negative, or when it gets to a net gaun of 3,000
Or a net liquidating value of 4,500.
6. I can stop this live challenge whenever I want should I need to put my time elsewhere
7. I won't lie about good it bad trades n daily weekly p&l
8. I will alternate from scalping to day swing or at least try to
Keep them separate but may obviously combine them for a challenge.
9. Will use stops sometimes not always no options
10. Thinking I will use tradeovate or amp
11. I will trade minis and micros in
Oil stock indexes silver gold euro bonds
12. Doubtful I will use a daily loss limit maybe??
1. Since the micros are typically $50 margins, maybe $2k starting balance. I feel like that's relatable for most. Some say $5k but that's not really needed.
2. I like futures and options, and rarely see anyone trade the Options on futures. And now that there's micro ES options it would be a nice twist!
3. Daily loss, no more than 2-3%
4. I market order a lot to get in, limit to get out.
5. Monday, wednesday, friday updates?
6. Stop trading when you get bored of it
EDIT: I didn't see your 2nd post - Just do what you're doing lol. Tradovate is good for mobile in my experience. Check them out.
I appreciate the idea of 2k and adding options.
Options could be used more for swing trades imo.
Sure I'll do a few options trades but either on a swing multi day
Or day swing. Would be short term front month expirys.
For me though I enjoy futures on day trades the slippage I'm options is enormous if doing multiple position strategies and lots of ins and outs.
But yeah I can do option trades.
What is a small account?
A 500 dollar acct is 5k in minis
A 1k acct is 10k in minis
A 2k acct is 20k in minis
Etc.
So what is the cutoff on your opinion for a small acct?
Is 2k still a small acct? I will be trading micros and minis from time to time.
Sure I can do 2k but I intend on getting it to 2k pretty quickly
And building off the 1.5k
Maybe 500?
My bullish call was solid but meaningless since no trades taken and acct not open. Been busy with bigger fish to fry stuff even though this rally was the easiest long traded all year
The following user says Thank You to HiLatencyTRDR HLT for this post:
My bullish call was way more powerful than I imagined. I would like to sell into stock indexes after any decent rally.. 30 points es and 90 in nq on a day swing short for tuesday
This is a 100% discretionary trading account on a small account challenge.
I am going to scalp around a little from time to time as well as put on a few days swing trades in primarily the micros. There is no system.
Funded with roughly 1580.00
I will update the account balance 2x a week and I may forget but understand it's a live account, but my other trading takes priority.
I chose ironbeam because it's FCM direct and includes a free Dom n platform. There are
Different levels and some you need to pay for extra bells n charting whistles.
They have a fast live phone in trading desk with low phone service fee which is great if your internet goes down and u want to add or offset a trade
