Well folks, I told you was going to attempt to put more videos out for you and wouldn’t you know—I’mdoingit! It is hard to find the time to edit them, so keeping them short is definitely a priority. I did haveabout 40 minutes to trade before a meeting, which I took advantage of but the meeting ended early, so Iwent ahead and continued with a few more trades before I had to leave the house.Once again, I did saythe wrong day—It is Wednesday.. Not Thursday. I’ll get it right one of these days lol!
On 2 of the trades, I did move my stop up pretty quickly, which got me taken out with a +1 tick on thefirstone and +2 on the other one (both with 4 contracts), so I really see that +1 as a break even whenyou consider commissions. Even though it did bring me a little bit of profit, most of it would have beeneaten up in commissions.
Speaking of commissions,I’ve been talking a lot about that lately. So, while my NT showed that I was up$2225, we ALWAYS need to take into account what you’re giving back to the broker. This left me withabout $65 with what I paid out to them, so it actually brings the profit down to $2160. Paying attentionto this factor when you’re testing in a funding account can really make or break you. You have to knowhow much you’re putting in and where it effects your bottom line. This is probably the number onething that those whoare testing, forget to pay attention to.
Always being aware is huge. This is why I also believe it is better to test on the micros if you’re lookingat increasing contracts and then moving over to the big guys to put it into play. If you look at how thecommissions effect you on the micros when you’re taking 1 or 2 ticks—it is way different than how itplays out on the mini. I’ve found that if you want to make sure you’re not in the red AT ALL with themicros, you’ll need to move your risk up more whenlocking in profits (if on a high number of contracts)in order to balance things out.
Alright my friends, that is going to wrap it up! I’m doing some traveling next week but I will try to stayconsistent and get a video out to you then as well. I hope that everyone has an amazing week and asalways, you know that I look forward to catching YOU on the profitable side!
Stay connected with news and updates!
Join our mailing list to receive the latest news and updates from our team. Don’t worry, your information will not be shared.
We hate SPAM. We will never sell your information, for any reason.
