Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
This is something that I have always wanted to attempt myself. A small account challenge similar to those I've seen run by various trading gurus over the years...
I'll be starting today with a roughly $500 account (edited: thought it was $440 initially, then it updated in the app in a bit, weird).
The plan initially is to start with 3-5 MES lots and once I build up > $1500 attempt a switch to one ES lot. Need to be surgical with my entries and really work on that discipline and patience (a big part of why I am doing this is to build up discipline above my current levels).
Going to be posting my daily trades and progress report here.
Can you help answer these questions from other members on NexusFi?
1. False breakdowns/breakouts. In this current bullish market it would be false breakdowns for the most part. This is where the price "breaks down" past some support level, makes a low, then maybe another lower low (5 or 15 mins) and then reclaims either the level that it lost previously or sometimes VWAP (depending on breakdown setup).
2. VWAP bounce. Normally just the first bounce when price runs up/down, then revisits VWAP and continues in the direction it was going beforehand. In this market it's mostly VWAP bounces for me. Again usually just the very first bounce as subsequent bounces often fail.
3. Bull/bear flags - only during regular trading hours. These require decent momentum.
Yeah I agree. My problem is psychology - I'm used to dealing with ES price fluctuations and seeing the much smaller numbers when trading MES is messing (hah) with me a bit.
Day over... was quite painful catching near perfect trades and profiting just $30-$50 each because I traded 1-2 MES lots instead of ES. So that's an adjustment for sure. Wow.
Started at around $500, end just over $700. Hopefully I can continue at this pace. I can clearly see that small gains add up, but it's a mental battle for me every trade.
