I have a dream ….

After all these years of trading and going through the “coulda-should-woulda” experiences, while working fully time in Management, I realize that the technical knowledge I learned with trading is a strength of mine and will prevent me from losing big. Risk and reward are inexorably tied together. If you want to make big money, then you have to take bigger chances in the market. I hear of the Robin Hooders who made it big. Yes, they can. And if luck is on their side and they have the guts for it, they certainly have done so, or they have busted their accounts attempting to do so. Many of the big and quick money trades are using short term weekly options trades on the big $$$ stocks such as TSLA and AMZN and riding the trade to big money if they were correct on direction. For TSLA and the FANG stocks, it has mostly been trade long using call options.

Yes, I have a dream. It is to make it big; but I am unwilling to take such big risks. That makes the end goal somewhat unlikely I will admit, since risk and reward are tied.

My plan is straightforward… stick to one thing and not give up on it while I do my other daily end-of-day trades and while I work full time. I plan to keep working on being a successful Nasdaq futures trader. My first step is to trade /MNQ micro mini Nasdaq 100 futures with my Roth IRA account. I expect to make $50-$100 on a good day. That certainly won’t make me a quick Millionaire!
But after I feel comfortable that I have a winning system and can successfully grow my account, I will move up to /NQ Nasdaq e-mini futures. That moves quickly and even with one contract, you can win or lose a $1,000 in less than ½ an hour… you don’t want to walk into that buzz saw without total confidence in the system that you plan to trade…

There are an even bigger money-making choices open to you if you can truly be the 1-3% of the people who can master making money on the /NQ … by trading short term weekly options on it. These weekly options are expensive as the Nasdaq is sitting a- t 12,273. Now you are talking of moving many more multiples of money in ½ hour.

Question is
1. Do I have a good system?
2. How much loss can I handle before I can’t take the losses?

One step at a time for me… and my first step is to make sure my brain knows my winning system really well, so that when the system and I incur losses, I do not step away from the system. It is like touching a hot stove, and your brain is saying don’t go back and touch it. But you have to if you want the reward… and that is what day trading is really like. With Nasdaq futures, the market is open almost 24 hours, although there are good times and bad times to be trading. Big money to be made…

/NQ at Friday's closing ...