Small Account Build Project
Hey Guys
This has been a long time coming. I've done this in the past, but never documented it. But I'm embarking on a new small account growth project. I get asked questions about this topic CONSTANTLY. Constantly. And truth is..there really is no answers to some of the questions. Trading is filled with "grey area" situations that need reactive behavior, not predetermined mechanical responses. That's part of the reason our job as traders is so difficult. Everyone's looking for the methodical "fool proof" perfect way to act & trade. I don't think that exists, not from my experiences at least. If you think you've got it - feel free to share with us.
Building a small account is the HARDEST thing you'll ever had to do in your trading career. Thats a fact. The more money you have, the easier trading gets. And thats the truth.
Anyway. My point is this: very often the way I am trading is different than the way a new trader should be operating. You shouldn't be adding to frontside shorts ripping, you shouldn't be trading the first 10-15 mins of the day, things like that. There's times I'll enter a trade without a 100% concrete plan because I trust myself to be reactive if need be, but as a new trader, you can't do that. God forbid something bad happens and you "freeze."
Anyway. I'm long winded, if you've read any of my blogs you're already well aware of that :) My POINT is...I'm streaming a live Suretrader account I funded with 5K, and I am going to be treating it like it's my baby, like it's all the money I've got, and trading like I believe a new trader should. So rather than try to answer a million questions about growing a small account, I'm just going to do it live and talk through my commentary all day as I do it, and hope that helps.
I'll update the account progress here on the blog on as well. Not going to go into detail about trades on here, but I"ll post the charts when I can & have the time.
I'll still be trading my regular IB account as well.
Excited to do this. I've been having some discipline issues of late, getting involved in morning strength on the short side where I shouldn't be, so the timing is great. It takes me back to basics and really focusing on ONLY good setups, and I think it helps others who can relate to similar account & position sizing. So I'm looking forward to it - and would love to share the journey with as many people as possible. It may work, and it may not, we'll see! :) I think it will.
Stay tuned for more info later this week.
Tuesday September 27th, 2016
Dante
This has been a long time coming. I've done this in the past, but never documented it. But I'm embarking on a new small account growth project. I get asked questions about this topic CONSTANTLY. Constantly. And truth is..there really is no answers to some of the questions. Trading is filled with "grey area" situations that need reactive behavior, not predetermined mechanical responses. That's part of the reason our job as traders is so difficult. Everyone's looking for the methodical "fool proof" perfect way to act & trade. I don't think that exists, not from my experiences at least. If you think you've got it - feel free to share with us.
Building a small account is the HARDEST thing you'll ever had to do in your trading career. Thats a fact. The more money you have, the easier trading gets. And thats the truth.
Anyway. My point is this: very often the way I am trading is different than the way a new trader should be operating. You shouldn't be adding to frontside shorts ripping, you shouldn't be trading the first 10-15 mins of the day, things like that. There's times I'll enter a trade without a 100% concrete plan because I trust myself to be reactive if need be, but as a new trader, you can't do that. God forbid something bad happens and you "freeze."
Anyway. I'm long winded, if you've read any of my blogs you're already well aware of that :) My POINT is...I'm streaming a live Suretrader account I funded with 5K, and I am going to be treating it like it's my baby, like it's all the money I've got, and trading like I believe a new trader should. So rather than try to answer a million questions about growing a small account, I'm just going to do it live and talk through my commentary all day as I do it, and hope that helps.
I'll update the account progress here on the blog on as well. Not going to go into detail about trades on here, but I"ll post the charts when I can & have the time.
I'll still be trading my regular IB account as well.
Excited to do this. I've been having some discipline issues of late, getting involved in morning strength on the short side where I shouldn't be, so the timing is great. It takes me back to basics and really focusing on ONLY good setups, and I think it helps others who can relate to similar account & position sizing. So I'm looking forward to it - and would love to share the journey with as many people as possible. It may work, and it may not, we'll see! :) I think it will.
Stay tuned for more info later this week.
Tuesday September 27th, 2016
Dante
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ReplyDeleteThis has been a long time coming. I've done this in the past, but never documented it. But I'm embarking on a new small account growth project. I get asked questions about this topic CONSTANTLY. Constantly. And truth is..there really is no answers to some of the questions. Trading is filled with "grey area" situations that need reactive behavior, not predetermined mechanical responses. That's part of the reason our job as traders is so difficult. Everyone's looking for the methodical "fool proof" perfect way to act & trade. I don't think that exists, not from my experiences at least. If you think you've got it - feel free to share with us.
Building a small account is the HARDEST thing you'll ever had to do in your trading career. Thats a fact. The more money you have, the easier trading gets. And thats the truth.