Hey guys I actually want to share with you some more details about my trading journey.
Here is my current accont balance on SureTrader (ST) 309$ and Interactive Brokers (IB) 4.146$.
I lost the most on ST where I deposited 2.500$ via neteller and had to pay a 100$ fee. So I actually started with 100$ less. I lost 90% of my account within 2 months. Which happened because I was doing all the stupid stuff like
My Early Mistakes
Solutions
On IB I started with 5.500$ and lost 1.350$ in 4 months. The Pattern Day Trader rule helped me here a lot. This rule regulates small trading account under 25.000$ and let you only make three intraday trades within 5 business days. I actually hate that rule but in this case it saved me a lot of money and still protects me to overtrade and forces me to be a sniper which is very good schooling.
Here is my current accont balance on SureTrader (ST) 309$ and Interactive Brokers (IB) 4.146$.
I lost the most on ST where I deposited 2.500$ via neteller and had to pay a 100$ fee. So I actually started with 100$ less. I lost 90% of my account within 2 months. Which happened because I was doing all the stupid stuff like
My Early Mistakes
Solutions
On IB I started with 5.500$ and lost 1.350$ in 4 months. The Pattern Day Trader rule helped me here a lot. This rule regulates small trading account under 25.000$ and let you only make three intraday trades within 5 business days. I actually hate that rule but in this case it saved me a lot of money and still protects me to overtrade and forces me to be a sniper which is very good schooling.
As bad as this all sounds the current situation is pretty good for me. I am forced to focus only on premium setups because a) due to the PDT at IB and b) I have only 300$ at ST which means that I need to make trades where I can make at least 10% because the fees are dramatically high compared to my account size. One trade cost me around 12$ which is 4% of my account LOL. So I have to make 4-5% on ST to trade break even.
But this week showed that it is even possible to trade with a tiny 270$ account (all time low) which I had in the beginning of the week. So this week I am up 41$ which is +15%.
These numbers are really crucial and very very interesting because this means I am able to make 15% on my account in just one week on the flip side I bet 80-100% of my account which I don't want in the future.
So had I traded with my old account size and bet 1.000$ every time on these solid setups I would be up +381,70$ in one week (+15% in one week)! That would be really cool and shows that I am on the right path
But this week showed that it is even possible to trade with a tiny 270$ account (all time low) which I had in the beginning of the week. So this week I am up 41$ which is +15%.
These numbers are really crucial and very very interesting because this means I am able to make 15% on my account in just one week on the flip side I bet 80-100% of my account which I don't want in the future.
So had I traded with my old account size and bet 1.000$ every time on these solid setups I would be up +381,70$ in one week (+15% in one week)! That would be really cool and shows that I am on the right path
Posted Apr 27, 15 4:04 PMbyMasiJunior
Received 2 Karmas
Good stuff. Do you still subscribe to Tim?
Yeah I'm still subscribed. I started with the silver, then on christmas bought his HTMM DVD and in the beginning of March I entered his challenge. Since I joined it I trade slightly slightly profiable.
@matty1pair And thank you for your feedback and I am glad you like it :)
Very nice man! Keep on the good work. It doesn`t matter if the numbers are small, the important thing is that you are learning and make profit. The numbers will grow in time, no doubt. Good luck ;)
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