Day Trading a 50k Account

4일 전

Three Trade Plans
1.Breakouts
2.Dips
3.Pivots

Context
1.historical bull market - the early days of The Fourth Industrial Revolution, that of AI and Robotics. Many millionaires and billionaires will be newly minted.
2.a great deal of news happened yesterday that the markets are still digesting.
3.new home sales come out @ 10:00
4.much possible market moving news comes out tomorrow (see MarketWatch U.S. Economic Calendar)
5.PCE is out 9/26 08:30. It is possible the markets will hang out waiting for that news. Watch that one carefully.

Action
1.Breakout orders are in place, stacked to the ceiling
2.Dips will be placed if we get a good bounce
3.Pivots: I have three in place, 24807, 24777, 24597.I won't place the 24807 order until our Pivot from 9/23 hits its target.

4일 전

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07:02 Messy chart. Sometimes they are. The thing to focus on is the super structure of Support. There are 2 px coils, 2 cups with handles, a SVP poc, 2 accumulation/distribution areas. 2 daily closes. There is alot of room for this to run. There is much news to digest and more to come.

AROI UPDATE:
10 Breakout trades hit their targets
10 x 36.18 Take/50k acct. x 100 x 365 = 264.114%

POSITION UPDATE
9L; 1 @ 24817(Pivot), 24895.25, 900, 905, 910(today's Breakouts), 25010, 25015.5, 020, 025(Breakouts from 9/22)

MARGIN UPDATE
Intraday: 900.00
Initial: 29,962.06

CONTEXT
Democrats threatening a government shutdown if they don't get 1 trillion dollars of our $$$ for their coffers. This could affect markets. Something to watch.

PERSPECTIVE: 1 trillion seconds = 31, 709.8 years

4일 전

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07:31 Bumping into Resistance @ 24913. Will it push through?

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07:35 ?Early stages of a px coil? ?Ascending triangle? Something to watch.

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07:44 ACTION
I just closed 9/23 Pivot @ 24878.
Reason: we are at Resistance and I"ll play it again if it goes down to 24817 again.

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07:49 AROI UPDATE 9/24 00:00:00 -07:44:20
481.98 Take/50k acct x 100 x 365 = 351.8454%

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08:04 GREAT INTERVIEW
right now, Maria Bartiromo is interviewing Scott Bessent, Sec of Treasury

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09:32 ACTION just placed 1 But the Dip @ 24845

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09:50 5m candle Bounce on prior vpoc, High Wave Doji, then white w/o conviction
BTDs 24805 - 24785

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10:05 Nice bounce BTDs 24815 - 785

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10:50 Cx BTDs +1 @ 24980 & 975
BTDs: 8 entries 7 exits

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10:53 AROI UPDATE 9/24 00:00:00 - 10:49:25
735.24 Take = 536.7252%

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11:59 ACTION BTO Pivot @ 24657

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12:23 ACTION: BTDs 24660 - 24630

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12:27 It is bouncing on a cup handle. Cup w handle that formed 9/16 - 9/18

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12:31 ACTION: BTDs 24665 - 24630

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12:39 ACTION Breakouts starting at 24705

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12:47 ACTION Breakouts start at 24690

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13:04 Beautiful S curve forming. Will it continue up?

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13:27 ACTION: BTDs in place 24705 - 24630
Breakouts in place: 24745 to the ceiling; also in several

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13:44 AROI UPDATE: 9/24 00:00:00 - 13:35:02; 1202.08 Take = 877.5184%

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14:37 CHART UPDATE
we are in a BTD area 24740 - 24680
bouncing on a cup handle 24645. The cup formed 9/16 - 9/18
bouncing at 9/17 SVP poc
bouncing on 9/18 close: 24705.5

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14:47 ACTION: Breakouts 24730 to the ceiling

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15:12 MARGIN CHECK
Stay on top of your Margin Requirements. Our hypothetical 50k account as of 15:20:00 is 18L. My most current Initial Margin is 3,322.12 per MNQ contract. 18 x 3,322.12 = 59,798.16. Make sure you know what time you must cover that. It's usually 16:45:00. If you can't cover it sell what you have to and buy it back at 18:00:00. I never let my account get to that point. But remember this is a hypothetical 50k account. If I was stuck in such a predicament, I would sell what I needed to so I could make Initial Margin requirements. At 18:00:00 I would have a bto order in place 2 points less than I sold it for. I would also have the same order set somewhat higher than the 17:00:00 close. This would be reckless, irresponsible trading. Avoid it!!!

Also important to know - brokers can and do change margin requirements at any time, especially when things are or may become volatile. CRUCIAL to stay on top of margin requirements.

3일 전

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Three Goals of These Posts
1.Show you a Trading Plan that works for me
2.Show you the importance of Context regarding day trading
3.Show you the importance of Climbing the Ladder

3일 전

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Results of our HYPOTHETICAL 50k account
9/24, 00:00:00 - 17:00:00
1347.30 Take/50k acct x 100 x 365 = 983.529% AROI