P.s. i actually got lucky on 1 trade and made $250 with one s&p 500 mini contract , BUT IT was just luck trust me

thanks

Thanks for your email.

To be blunt, I don’t think it’s realistic to expect to make $500 per week from a $2,000 float. That’d be a 25% return… weekly! Remember you’re only new to the game and even the best of us don’t get returns like that. Sure you might be lucky a couple of times but to consistently pull that type of return isn’t something I’d bet on.

My suggestion is to:

1. Build up a larger trading float (at minimum $5,000).
2. Start with unleveraged instruments like stocks.
3. Prove you can make a 25% return for the year before trying to make 25% a week.

Sorry to burst your bubble but I call it how I see it.

Your (blunt) Trading Coach,

David Jenyns

I personally like to let my profits run – I use my position sizing rules to limit my risk. That said, I have plenty of clients who, once they reach breakeven, remove their original investment and then just ride out their profits.

There’s no hard and fast rule here… since you’re once bitten, twice shy, go with what makes most sense for you.

Your Trading Coach,

David Jenyns

I lost about an apartments worth trading in Miami when the dot com bubble burst, like many I thought I knew what I was doing but learnt the hard way. But I am at it again now and have a fairly well developed plan trading US Penny stocks, expecially the biotechs. But I am still making the exact mistakes you mention, spreading out too much (too many trades at same time, too little foucus) and problem leaving losing trades while I try to stick to 20% rule. I would only disagree on the profit taking rules, do you not agree that one should take some of the profits off the table in a good trade and let the rest run, is there a rule there ?

Cheers,

Olaf

Your Trading Coach,

David Jenyns