This might be a good option, Chris. I thought about that yesterday.
Xela's 3K to 1M Challenge( Current Gains $3,023) - Page 2
Thank you all for contributing to this thread, you all have worthy advice and opinions. I'm going to keep this going to see how far I can get. As I've already mentioned, this is more of a test to see whether or not I even have the necessary skills to pick winners and whether or not I have the capability of being mechanical with profits and losses as well.
Testing whether or not you can pick winners should be done via simulated trading not when real money is on the line. Like previously stated, you absolutely have to tighten up that stop loss to make the R:R at least 1 to 1, otherwise your strategy will fall flat on its face. That's just the truth of it.
If it sounds like I'm being hard on you it's because I am. I've seen journals like this one disappear just as quickly as they showed up, especially due to improper money management.
Dont sweat it. I lose out on money every trade, you can't always maximize returns. Its really the fear of loss that makes me pull the trigger to lock in what I have already. And it seems right when I sell is when the stock implodes and moves up.
what 1m in 200 trades.. eh.. if anyone could do that they would sell a book.
set a more reasonable goal.. like 25K from what your starting with.
Its not that easy once you get into higher amounts, or starting out low either.
Hes just playing stock so i guess his risk is somewhat limited as to the other securities. 3% inst that unreasonable however i wouldnt expect it every time..
Wow, talk about shaking the tree and then taking it back up. This market is loco lately.