I'm getting to the point where I am going to need to get a job very soon if I can't make this work. I would be quitting temporarily, but until that point I need to decide what to focus on. I've proved that I'm no good at trading stocks, especially with the pressure of 3 day trades a week. I tried futures, lost big at first due to lack of preparation and lack of paper trading the theories I had come up with. I've also been trying forex lately with mixed results. I'm left to make a list of the pros and cons of stocks, forex, and futures.
Stocks:
Pros: You can choose how much you want to risk/Resources like Investors Underground chat and Timothy Sykes.
Cons: 3 day trades a week / $9.95 a trade makes a break even trade seem like a big loss to an account my size.
Forex:
Pros: Unlimited day trades
Cons: Slippage
Futures:
Pros: Unlimited day trades/ Seems to obey S/R points more so than forex.
Cons: A lot of risk per trade with 1 point in the NQ being $20 /Minimum balance at TOS is $3500. I'm barely over that.
Right now, I'm leaning towards stocks due to the fact that I've had the most experience with stocks. I've been attempting to trade stocks for almost a year with no success.
No matter what I try to do, I need to figure out when to throw in the towel. I'm thinking if my account goes below $3000 I will call it quits for a while. That gives me about $500 of no fear money. I need to focus on making trades with no fear and no thoughts about P/L amounts. If I can do that, I think I can stay above the $3000 level.
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