Small Account Project Is Over

I've closed down the SureTrader account. Final number was $6500, from a $5,050 start, in a month. It went under 5K once, and over 7K once, but in the end, we made enough to to eat at McDonalds for a couple days lol. Sorry for the abrupt halt - I was just getting a bit annoyed with it. It was taking my attention away from the primary focus - my main account - which had not been suffering during the ST account project, until today. I took a dumb loss because I wasn't focused, very unlike me. I'm going back to putting the blinders on and full focus on my primary objective.

Thanks everybody who participated in the stream, sorry we couldn't grow the account more than that I really wanted to double it, but I hope you learned a few things along the way regardless. That type of trading is a complete shift in process that I'm no longer keen to so I was having some issues, BP restrictions and inability to add or trade multiple names at the same time, things that hindered the progress of the account in my eyes. I thought it would be easier to transition back to a basic style and just do it - but I was clearly wrong. I'm just in a different mental place of attack now than trading that account, and I don't really want to mess with it any more than I already have. At least it wasn't red!

So again, thank you for checking it out.

Wish you all the best of luck in your small account endeavors. Keep grinding. It's possible.


Dante

Comments

  1. UnknownOctober 22, 2016 at 10:46 PM

    Hi,

    When you wrote the above, clearly (and understandably) you were upset by the loss. When things have settled I would really like to hear your thoughts on why things went the way they did.

    Could it be harder to trade a small account? If so, why is that, capital restriction? Transaction costs?
    Is it hard to trade two systems at the same time? Same setup, but with different risk tolerance/size?
    Or is it hard to focus when it's not "for real" like what happens on a paper trading account.

    Loooking forward to your answer; good luck going forward; thanks for sharing.

    ReplyDelete
  2. UnknownOctober 2, 2017 at 8:04 PM

    For traders who are new to the art of trading in Contracts for Difference market, use of tools and strategies to obtain accurate trade information could be confusing and tough at the same time. FXB Tradingoffers many educational articles to help these beginners learn the tricks of the trade in their climb to the top in a CFD market.

    ReplyDelete

Post a Comment

Popular posts from this blog

The Danger Zone

Image
Hey guys. As you're probably aware by now,  I have a strong affinity to the psychological side of trading and I think it's far more important than anything else. Far more. I've hit most areas of trader psychology in the archived posts on this blog, but there's one in particular I want to go over today, one that I've come to realize is more important than them all. I'm going to refer to it as "The Danger Zone." There are multiple levels to this puzzle on both a macro and micro scale in terms of intraday & bigger picture time frames, which I'll map out for you in a minute and then talk about why they're so important. The Danger Zone is a foe you're going to meet time and time again on a daily basis, so get familiar with it. It's the critical point in any particular trade (micro), or period of time in your trading (macro), where a build up of emotions and stress are going to tempt you to give in to irrational or unjustified action ...
Read more

Michail Shadkin Theories of Opening Range and Intraday Relativity

Image
So as you've heard me mention before, Michail Shadkin is one of my biggest influences in the trading community for how I think and trade, and he has formulated some outstanding guidelines to follow. Today I am going to analyze how he uses relative strength/weakness intraday to give you better conviction and know when to stay in a trade, and when to bail out. Below is a notecard I have taped to my laptop which I am forced to stare at before pushing any buttons and placing a trade. May be a little hard to read, so I'll write them out as well. These rules are great for all traders, but especially for newer traders who should largely be avoiding the market open volatility. Wait until 10:30ish after things have consolidated, settled down and set up so you see a picture - use Michail's rules from there and you will have a much higher probability of success in your trades. Michail Shadkin Rules 1) Never average down on a long 2) Can add on shorts up until ~10am (...
Read more

The Perfectionist Trader

First just wanted to say thanks to everyone who DM'd me blog topics - I've written them all down & will be answering all questions in a future post - todays post will be a more generalized topic of something I've wanted to discuss for a while, and was reminded of the other day by one of the traders in my group. I'm thinking of compiling topic suggestions for a little while and turning it into a bit of a Q&A style post soon - so if you've got anything you want me to discuss - send it over! Tweet at me. This post today is for anyone who trades on a daily basis. Perfectionism & how it relates to a day trader. I got this idea from one of my traders last week. It was from a guy whom I've been trading side by side with for about 8 months now & speak to daily, and who I know for a fact to be a knowledgable and solid trader. After a very good month followed by a rough few days, he sent me a message and said to me "Dante, I had a few moments ove...
Read more