Aliassmith Beats a "Dead Horse"

[aliassmith]

I know the view point of doing well is subjective. Aren't you at about 60R for the last 4 weeks? 30% a month is great. You can make a lot of money with 30% a month.

With a $500k FTMO account thats about $135k in a month.

Im not sure why you are not just staying focused on mastering EU. Maybe you think by looking at more stuff you make more money. It might have the opposite effect. You still have room for improvement on EU and 30% a month is good.

You said you are here to make money. You are doing the right things and it might be time to get a MFF $5000 real trial soon. This will see how you perform with a little skin in the game. $50 isnt much. I would suggest a lower risk level such as .3% thats 27R in 30 days for phase 1 and 17R for phase 2.

You have to take at least 5 days to pass so there is no prize for hurrying. If you get a live $5000 you trade it until you have enough for a $50k trial. After you can maintain a $55k account you have many options.

Max MFF
Or
Max FTMO
Or
Max ThePropTrading
Or
Max 5ers at some point you can make 100% year on $4 million.
Then
Put $250k to $500k into some other trading account. If you live in the states then futures, stocks, etf, options are a good back up plan to learn.

I'm not sure if I am up 60R but it's not far off.
So yes, I also consider it as pretty good.

However I would like to see consistency. I don't want to be able to do it one month, (as a summer project) I want to be able to do it every month because if I had to trade for an income I would probably fail miserably.
In order to get that consistency I think I need to do a bit more as I don't want to be that guy that thought he can trade for an income after practicing for a couple of weeks.
I do feel I am almost there and indeed I wanted to do a "real" trial next week.
It may feel different with real money and I might find out new things I need to learn.

Because I need to start working soon (I am self employed but am/was busy doing other stuff) I will soon be busy during the whole London session (I live in the Europe) and thus have a hard time trading the EU. Because I still want/need to practice I thought it might be a good idea to add something that I can trade after the London session so I can keep practicing. I wish EU could give me enough trading opportunities after London but it looks like it just dies most of the days.

That is a reasonable reason for looking at us30. You pretty much will only be able to trade afternoon US session. Its a different animal. You will need to learn its quirks especially at that time of day.

[Yirbu]

That is a reasonable reason for looking at us30. You pretty much will only be able to trade afternoon US session. Its a different animal. You will need to learn its quirks especially at that time of day.

I was also watching the nas but I think the us30 is a bit smoother. It feels a bit more comfortable.
I've seen it moves different in each session so I am focussing on the period after 18:00GMT time, so that would be after NY lunch time I think.
Do you think there are better options that I am not seeing?

[aliassmith]

That is a reasonable reason for looking at us30. You pretty much will only be able to trade afternoon US session. Its a different animal. You will need to learn its quirks especially at that time of day.

I was also watching the nas but I think the us30 is a bit smoother. It feels a bit more comfortable.
I've seen it moves different in each session so I am focussing on the period after 18:00GMT time, so that would be after NY lunch time I think.
Do you think there are better options that I am not seeing?

Us30 does give moves after lunch. I usually don't trade late US session. You will just need to practice trading it. It gives opportunity during that time.

Edit. I tend to like us30/dow or SP500
My current watch list is:
EU
GU
AJ
US30
SP500
They all have the potential to provide stacks of cash but after lunch US30 or SP500 might be the better options to master

[aliassmith]

Us30 trade
Thats about 20 points or 1.5%

[aliassmith]

Us30 trade
Thats about 20 points or 1.5%

I made another 57 points or 4% earlier.

As a CFD there is a better ability to put on size compared to the Dow futures.

[IgazI]

Us30 trade
Thats about 20 points or 1.5%

You like how they get everyone in a bearish mood and then pamp it?

[aliassmith]

Us30 trade
Thats about 20 points or 1.5%

You like how they get everyone in a bearish mood and then pamp it?

I like that it makes decent moves that are "predictable " enough to catch some points. I like that its a CFD and I can easily put on $100 per point for ever $100,000 in my account.

[IgazI]

Us30 trade
Thats about 20 points or 1.5%

You like how they get everyone in a bearish mood and then pamp it?

I like that it makes decent moves that are "predictable " enough to catch some points. I like that its a CFD and I can easily put on $100 per point for ever $100,000 in my account.

Do you ever consider market psychology?

[aliassmith]

You like how they get everyone in a bearish mood and then pamp it?

I like that it makes decent moves that are "predictable " enough to catch some points. I like that its a CFD and I can easily put on $100 per point for ever $100,000 in my account.

Do you ever consider market psychology?

Its kinda backed into the moves I look for. I did think more about how other participants played there hands. For example you have a strong breakout after in profit we see people late to the party trying to get in. We see people closing positions. We see people moving SL tighter. These are things that happen for sure and there are ways to take advantage.

A zline has this type of thinking built into it. MightyOne described the logic of it. Im not sure if he did it publicly or when we was chatting.

[Yirbu]

Us30 trade
Thats about 20 points or 1.5%

That's a nice trade/entry! wow