Follow up to my thread. I am not going to disclose how big I trade or how much I make. I am a very active. My volume comes from me executing 200-20 lots per day vs 20-200 lots.
Every trader needs goals. Whether it’s 500 a day for 2500 per week or 1k a day for 5k a week. Whatever said goal is u need to be consistent. Let’s see 500/ day for 8 weeks then reevaluate. Rather than 500/ day for a week jumping up to 1k per day the next. Recipe for disaster
Find a number you are comfortable trading that is your base. I adjust mine all the time based on day, events etc. Want to know why I don’t trade the spoo’s? Because like any trader I have bad habits and it’s easy for me to let losers run against me and the spoo’s run fast
I scalp. My philosophy. Scratch... 1 tick winner.... 1 tick loser... that’s it. Those are my 3 outcomes. If I only take a tick on a winner the same must be true on a loser. I can’t take a loser 5 ticks against bc that takes 5 winning trades to make up for the 1 loser
I have had the risk manager where I trade call me 1 time in the last 16 years. And it wasn’t on my worst day. I carried a huge spread to mitigate losses. I didn’t have the margin to carry it that large, I knew it but didn’t want to eat the loss....
But that’s why they love me. I trade, generate commissions and I don’t take unnecessary risk. I am my own risk manager. If you are looking to get in the industry or get a job it’s a great skill to have. Firms don’t like cowboys. Gamble with your own money not someone else’s
You can follow @2yrflipper.
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