Breaking my rule of not trading on the boat was my first mistake. Not putting in a limit order was my second. My plan to trade vol before earnings was fine but not putting in a limit order was just foolish. My target was hit on my options contracts but not having a limit order in place was the main reason i didnt profit. I checked my phone when we got back on the boat and i was ITM a full dollar and then it flushed. So now i have to deposit $1600 into my small margin account to trade again. Not giving up although trading on and off for 10 years and not being profitable is frustrating im still not giving up. Too much skin in the game to quit now. Anyway lets see what the future holds.
To be fair, prop firms are having issues with Forex because the major platform is banning US clients now. So now I'm testing into a Futures trading firm. 100k account size testing is going well I'm almost 1/3 to the profit target.
However I only pay 40 bucks to take test. Once I pass there'll be like a 220 activation fee. First payout you can withdraw a max of 2500. I say this to mention risk/reward. I'm investing very little to make a potential ton.
It's odd I just up and jump from Forex to Futures overnight however I already had a working system trading forex and I just trade the same similar instrument over on the Futures side. You need a working system and you need to size down.
One thing that started working for me when i was trading in the stock market was to make the switch to CASH account. It really does force your risk management skills because you start to divide your size up especially trading actual shares. Even if you still want to trade options, they settle overnight and you can trade options daily!
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