Look, it’s fucked, i know. I do it backwards. Only for Dow, micro minis though.
Dow Jones moves super fast sometimes, on micro minis it’s 50¢ a point. So a 100 point swing is $50. I want to put a large brace behind me when it dips temporarily if the big boys pull liquidity. Which happens a lot.
Set up a paper trade account with another broker/platform and play around.
Make sure you have enough fake money in there to cover overnight margin, sometimes my “scalps” intended to last 15 minutes last for 2 trading sessions. (Because of my cushion being 3x)
Currently, i’m losing the $150 only 1-2x per week, and getting the $50 gain 6-8 times per week. Sometimes, If near the end of the day’s session—i’m at a gain that will cover fees and get a small profit, i take it. So, a couple of times a week, i’ll take $10-40. Just because the overnights are so unpredictable. This is futures. In options, I used to work a different strategy, but couldn’t make it consistent.
This is just my dow jones strategy— it’s pretty shitty i admit, but there’s just so much fluctuation at market open. Consistency is king.
What i’m doing, i set it and forget it in the morn, check it in the afternoon 30 minutes before closing bell. If i am at any loss near closing, i say fuck it. I came in to lose $150 i’m not cashing out over -$68.
…And i only get my dick kicked in once or twice a week 🤣
I am retarded by the way, please dont use this as trading advice (unless its a “practice” aka paper trade account)
Look, it’s fucked, i know. I do it backwards. Only for Dow, micro minis though.
Dow Jones moves super fast sometimes, on micro minis it’s 50¢ a point. So a 100 point swing is $50. I want to put a large brace behind me when it dips temporarily if the big boys pull liquidity. Which happens a lot.
Set up a paper trade account with another broker/platform and play around.
Make sure you have enough fake money in there to cover overnight margin, sometimes my “scalps” intended to last 15 minutes last for 2 trading sessions. (Because of my cushion being 3x)
Currently, i’m losing the $150 only 1-2x per week, and getting the $50 gain 6-8 times per week. This is just my dow jones strategy— it’s pretty shitty i admit, but there’s just so much fluctuation at market open. Consistency is king.