Micro E-Minis Affordable Strategies: MACD Candlesticks
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- Опубліковано 24 вер 2024
- Special emphasis on MACD and Candlesticks with TastyWorks
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Veteran trader Don A. Singletary teaches Micro E-Mini futures trading for S&P500, NASDAQ100, DJIA, and Russell 2000 indexes. This Day Trading channel teaches beginner futures traders with an introduction on trading strategies using easy-to-follow tactics with an emphasis on selecting for small accounts. How to practice trade small, then scale up. Learn to practice trade before risking real cash and learn to identify lower risk trades. There is an emphasis on selecting day trading strategies using MACD, candlestick charts, scalping techniques and the use of stop loss orders to place live day trade orders for extra income.
Futures Trading for Beginners:
Learning to trade the 1/10th size Micro Eminis can help investors learn how to protect capital while learning winning strategies for extra income, fun, and you gain a valuable skill set to day trading futures that you can use the rest of your life. Special Beginners Playlist with live trades for micro eminis will instruct and easy and fast way to learn to trade futures without all the get-rich-quick hype. Just real strategies that are inexpensive and explained step-by-step.
Welcome to the channel that quickly gathered over 15,000 subscribers quickly to learn these easy methods to learn day trading futures equity index futures. A high leverage and higher risk form of trading that can rival the excitement of the casino experience.
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Your exit was perfect Don. It is a pleasure watching you trade. Thanks for sharing.
Glad you enjoyed it
I liked the Ron Popeil 'Wait... There's More!' lol My exit is when the value 'green line' hit the zero line for this trade. A near perfect entry :) Hindsight is beautiful, yet your thought process made this reality. Oh, I want more videos like this.
You and me both! And... wait, you also get the ginzu knives and free shipping!
"41 boxes of milk bones" 😁
Oh yea, my dog Billy was very impressed 😁
I love love videos like this thank you.
The moment I realized I was in consolidation again I would have moved my stop profit above each candle. When I saw that they were unable to gap down anymore I would have manually got out as close to the bottom of consolidation as possible. But that also means I am introducing speculative behavior.
I really love how you use your stop loss, I was adding take profits in advance instead of allowing the trade to simply run.
Great Michael! Keep that sort of focus and enthusiasm. You are a fast study. Thanks and good luck - Don
Hey Don, what's up? I just wanted to send you a thank you from Brazil. Your videos are awesome and I'm really learning a lot from them. Thanks a lot!
Obrigado Diego. Você fez meu dia. Boa sorte para você. - Don
Here's a playlist of recent videos: ✅ Recent LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3
Another well produced video and a very nice trade. I would have gotten out at the first green candlestick, especially having that much profit at stake. Thanks so much for sharing your expertise with us, Don.
Good call! I agree Bob. The greater my unrealized gains the more aggressive I get with the stop. One thing hurts more than a losing trade and that is to have a great profit and lose most of it before exiting. Thank you- Don
Excellent video Don! My memory is not immune to drawdowns, but I don't remember you realizing such a profitable return in such a flat market in a long time. For that reason, I too probably would have had a slightly tighter rein after it realized something north of $170, but that's getting a little picky I suppose. It's like the hitter who got a double, triple and single in one game and lamented about the single not being another double. I would say an incredible afternoon in a flat market. Take care!
Ha! Oh yes, nice to hear from you Kent.- Don
I would have stopped around the time you did. Great video and thank you for making them.
Thanks for watching! Welcome to the channel Chuck. Good luck to you - Don
I normally use a trailing stop after hitting profit target. In this case I would have put a trailing stop of $5 about $41.30.
New to trading and enjoy your videos and glad I found your channel. A retired old dog trying to learn new trick.
Nothing wrong with old dogs. My personal preference is never using a mechanical (or trailing) stop; it might be good at long term stock trading but, as this trade illustrated (to an extent) it is often hard to find regular linear moves in this type of trading. Welcome to the channel and good luck to you GN - Don
1:30... would have been stopped out on first sign of green...not as profitable as you, but that's ok...thanks for all your great videos...i do like it when you describe your thinking too.
Hi Jeff. Good to hear from you again. I ran those stops close once the trade was profitable. It is rare not to get stopped out doing that, so I was a bit lucky in that respect. But hey, it took me 30 minutes to get up $42.50 and had I been stopped out, that still would be $85/hour. I wouldn't have any regrets with that. I was just in 'right place at right time' and that seems to be a matter of some luck. Ha, but there is the old adage: The harder you work the luckier you get. Enjoy your weekend and thank you for your support. My book and the TastyWorks affiliate link support the free videos here on the channel. Good luck to you- Don
Another gem. Thank you Don for sharing such great insights! Please keep them coming!
Thanks, will do!
Close of the last candle maby exited then. Thanks for what you do
You bet
Excellent video my friend. I would have thought the bubble was going to brake earlier and thought it was too good to be true. Resulting in taking a look at 3 minute candles, flip flopping back and forth to 5 minutes... So, my end result would have been a gain, but about $30.00 less then yours. You are the seasoned master!!
Hey Pat, just so you cross the finish line with the goods. Nice to hear from you, thanks- Don
Awesome trade. I didn’t trade on this day but I think I would have placed a short order around 1:15 and would have been stopped out at 1:30. Usually I kill the trade before I get stopped out. The price may still go down but I'm happy to enjoy part of the ride
Glad you enjoyed the video Ray. Good luck to you- Don
Thanks for the live trade video lesson Don.🙂🙂
Very welcome. Thanks Lloyd, great to hear from you. Good luck to you - Don
Thanks Don, another great video
Very welcome. Good luck to you again Big Dave TN--- Don
Hello, perhaps you could share the looser trade and how you managed it? Not a break even trade but actual looser where you lost the money. Maybe you use some kind of strategy and closing trades before they reach your stop loss? In many cases price ignores the signs of indicators and it is important to know how to manage your losers as well. Thanks!
Most of my losing trades are at my stop-loss; I use the stop market order in the day session. - Don
@@DayTradingMicroFutures Understood. Thank you!
@@arnoldaspaplauskas2683 Thanks Arnoldas, the day session volume virtually always allows stop-market to work better (no slippage, higher volume) than the stop-limit. After hours, the gaps often get wider and the volume is lower - of course. Great question. Thank you- Don
@@DayTradingMicroFutures Thanks Don, still it would be interesting video where you would show that losses is also a part of the game and is inevitable, most of the channels shows only the pretty side of trading :) You remind every time that probably 40% of all trades or more will be loses but it would have a better effect is you would actually show your audience how you manage your losses. When ppl see only wins they try to trade and most of them lose and feel disappointed. Also, ppl like to move their slop loses or trade without them and losing even more money. I myself actually trade forex indices like US30/USD but rules are the same and your strategies can be applied there :) Thanks for good content!
@@arnoldaspaplauskas2683 Well your points are all correct, certainly and I thank you for them. I actually do have two or three videos where I did show losing trades. Unfortunately, they rated as viewed less often than 97% of my other videos. (FYI: one of those paired a 'winning' with a 'losing' trade and it still ranked poorly.) Why that is, is not a mystery to me; I guess you could say - even though showing the losers is most certainly instructive and probably useful - it is not a popular draw. (I doubt anyone ever searches for losers, etc. LOL) It is counter-intuitive in a way: Learning how to lose is a vital part of success in this type of trading of course. I am still able to press that point in my videos on frequent occasions. The UA-cam algorithms promote videos that get more viewing time - and overall- this policy and course - works to my advantage. I've enjoy the chat, Arnoldas. Thank you for your thoughts and good luck to you. - Don
Don, another great video
Thanks again!
Thank you Don, another great video. The reward vs risk is incredible. Did you have that in mind when you got into the trade at first? A fantastic outcome 👏. Just wondering if you look to the left to get a sense of possible support & resistance areas to help with setting your take profit target. Am I complicating this for myself or should I just rely on MacD trend. Thank you so much for your help.
Kavana: Thank you for your comments and question. I want to give you the best answer possible, so I ask your indulgence for a moment:
I like and use the candlesticks because they seem to display what is happening in a way that is often easier to see than other methods (think bar-chart.) What you see me do and say during my trading videos displays a useable method for most traders.
I have often said that: "If I gave ten traders the exact same setup and instructions, it would produce ten different results."
I researched the origin and history of candlesticks and I put this story into a short video. I feel the video tells me all I need to know about candlesticks. My own belief is that the over 140 candlestick 'formations' that have names is only smoke and mirrors. This is easy to understand if you learn the 'how and why' a Samurai developed them. here's the video link: ua-cam.com/video/nD5pWcNFT1I/v-deo.html
good luck to you - Don
I would like to see in the future a video concering taxes.
Thank you and glad to hear from you. I don't give any tax info; I'm sure you can Google and find some reliable sources though.
@@DayTradingMicroFutures Thank you. I’m enjoying your book very much.
@SLOPPEWALL Here's a group of my most recent videos in this playlist: bit.ly/PlayListNumber3
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How Much to Start: TastyWorks requires $2,000 to open ‘the works’ account and a minimum of $2,500 to qualify for the lower intraday margin rates which will allow you to trade during regular day session using only 25% of the overnight margin requirements. Intraday margins are only 25% of the amount for overnight margin requirements; for full into see here: INTRADAY
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What is a fair commission rate to trade the Micro E-Minis: Commissions + fees for Round trip (both in/out of the trade) should be under US$3.00.
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dude murders the market with 1 micro
Luck is always a factor. This is high risk stuff.. glad to hear from you. thank you. - Don
Do you have a live trading room where we can join and how it will cost to join your room? Thanks
Greetings Segar. Welcome to the channel and thank you. I don't do live trading room. This video you just watched in a great example of why I don't and for primarily two reasons: 1) It was a 38 minute trade; many trades can actually be boring to watch, and 2) I practice and illustrate good trade selection and (for example): If I had a schedule and did nothing for an hour (which is quite common for me), it would be a 'failure' in terms of teaching anything (except patience maybe.)
And a 3rd reason I can add is: In my videos that I record, I can take time to explain the 'why's' of trade selection and also can edit to discuss important points of managing the trade. In short, I can actually put quite a lot of illustration in a short amount of time by using the edited trades, which is more my style. I don't sell a 'trade system' of any kind, nor do I think they are effective. It (IMHO) is a false narrative that traders can take a fix formula, then just 'rinse, wash, and repeat' to make money. Each individual is so different from everyone else in temperament, risk tolerance, account size, experience, and product knowledge.
Also in being able to edit the illustrations allows me to present trades clearly in many ways that a live broadcast isn't able to do.
I often suggest to viewer that they should try and find a 'trading friend' to learn with them - as that can speed up the process quite a lot. The feature on my channel is helping beginners. If I were to have a live trade room, I feel it should be for more experienced traders. I am sorry I cannot provide what you want, but please know that I appreciate your comment, welcome you to the channel, and wish for you good luck and success. Thank you- Don
Thank you for your reply.
Good afternoon, Don. I was wondering if you knew of any way to set up an alert to go to my phone for the bullish and bearish crossovers. I keep missing good opportunities throughout the day to jump into a trade.
Thanks.
I use the price alerts in TastWorks in many different ways. As for finding cross over alerts, you'll have to ask your broker, or check for that feature as you look around. BTW, I don't use mechanical/ fixed rules to trade; they are often good tools but don't replace experience and practice. Good luck to you Ian. - Don
What do you think about setting stops to trigger on ask price instead of market?
During the day session the micros trade over a million a day, no slippage at all, so it doesn't matter. IMHO.- thanks- Don
Candle sticks were getting longer and you allowed the trade to evolve.I believe you exited at the right time
Thanks for your comment. and good luck to you Greg- Don
Your videos have really been helpful in developing good trading practice. Where do you usually put your stop when a trade is opened? 2 pts, 3 pts and 5 pts. I also noticed that you trade with a time period of 5 mins. I get tempted to trade with 1 min or 3 mins. How do you avoid that temptation?
Welcome to the channel, Sara. I ALWAYS use the same setup, I've been teaching over 2 decades and I can tell you with certainty that the human brain needs consistency to learn. To constantly change your trade setup is to always be 'starting over and over again.' A form of self sabotage. You don't have to use my setup of course, but don't form the 'hopscotching' habit, you'll lose your money.
About where I set my stops: As I alluded to in this video, it is a contextual decision, it depends on volatility, what if any-- trend might be dominating the market and other factors. One of those things you get better with experience.
I have a good chapter on Trading Psychology in my book with many pointers for food for thought. Beginners often assume that they only need to find the technical setups to trade; this is a huge false narrative. The falsehood is believing once you find 'that formula' you will only have to 'rinse, wash, and repeat ---- and you have a constant source of income. You know, things that sound "too good to be true" usually are. People lose a lot of money and blow up accounts looking for that 'magic dragon.'
It take works and determination to learn to make money. Most people who try this trading are chasing the 'carrot on a stick' -always in sight, but impossibe to achieve - a sure way to failure. I hope as you view the channel you find ways to improve constantly. Trading really is a psychological game, it happens between your ears. Work hard, be realistic, and you have a much better chance of having fun and making money. You can buy what it takes to be successful at this type of trading, it has to be earned. The good news is that it can be fun to learn and is quite a challenge. This is risky trading with great profit opportunities - but there is no 'free lunch.' My advice is to find a way, starting with practice trading and learn to have fun while you learn. The learning speeds up quickly once you get the basic down.
And finally: I can give ten different traders the SAME instructions - and they will come back with ten different results. Hope naaive it is for people to believe that all traders must do the SAME thing to all make money; that's impossible. Good luck to you - Don
✅ **BOOK** : Join thousands who have use this book to get a fast start: Check out the Amazon listing (free Prime shipping) at this link: bit.ly/daytrademicros
**Like the TastyWorks "See It, Click It, Trade It" and the Click 'n drag Mouse?**
Here's how to use the same software you see in videos here on the channel:
✅ In about two business days, you account should be ready (no funding required and if you change your mind, no fees or obligation whatsoever. Fill out your TastyWorks application at this, my affiliate link: bit.ly/2ZUYjtS today.
✅ Get notified when new trade videos are posted each week: Subscribe Now at this link bit.ly/3mTTMTn
*Free Trade Simulator*
👍You can be practicing in only 5 minutes.
✅ Here is a FREE TRADE SIMULATOR with no ads and that will keep your trade ledger for you. It is FREE for signing up (no credit card or personal info required) at the CME (Chicago Merc Exchange) at this link: bit.ly/TradeSimulatorFREE
***FREE TRADING SIMULATOR***
Three Steps to Get Started Learning to Trade the Micros:
✅ BROKER: This is the exact same software I use on this channel. Free software. Free Data Feeds. Low Commissions. Free money transfers in/out of your bank. Very low commissions, no robot help lines, just real live smart people ready to help you.
✅Just fill out the account application, no deposit or credit card required - and you do not have to fund your account until you are ready. For account type select "The Works" - and you will have an account for trading the Micros. When your application is approved: Just fund your account and you are reading to begin trading real time.
✅Use the FREE TRADE SIMULATOR until your TastyWorks account is ready.
bit.ly/TradeSimulatorFREE
**Must See** ✅ Rule #1: bit.ly/RuleNumber1
✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3
FREE Training Videos at BEGINNERS PLAYLIST:
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Your audio version of your book should be you narrating it. Great voice!
Working on it! Thank you RF. This is risky stuff but can be great fun for those with patience. Best of luck to you - Don
@@DayTradingMicroFutures awesome! I just started getting my feet wet in futures. Have been trading crypto mostly but discovered futures and love it. I was an indicator man mostly but now its all about price action for me!
Hey, this is great content. Thank you very much! I'm new to micro futures trading and am trying to figure it all out. You mentioned it's $5 a point for the micro e-mini S&P. Does that mean each contract is $5? Also, can you educate me on the intraday margins needed to trade these micros in Tastyworks?
Thank you, great information here! Subscribed. :)
Welcome aboard! Hi! The $5 on the S&P500 Micro is the point value of a price move. The intraday margin is about $350 to trade one of them and I recommend an account of $2500 to $5k.
My book has all the basics, check it out on Amazon at this link:
amzn.to/359nNca
good luck to you - Don
@@DayTradingMicroFutures Thank you!
I’ve been using TW for years but never seen the mouse or platform that looks like the one in the video
I use the TastyTrade Desktop platform. I have 4 short videos that cover the configuration of my setup, the Bracket OCO use. Here's the link: ua-cam.com/play/PLv6Fasp51T9KvkIWqQ5D29RqJ9dTflTk7.html
When I use my trades in the videos, I overlay the Blue, Red, and Green arrows which are the trade price, stop-loss, and target - respectively. And insert the mouse image at the times I am using the 'click ' drag' feature in the TastyTrade desktop platform.
I use the light setup instead of the dark - for several reasons: It shows up better in the videos as it has more contrast than the dark background. Plus, it gives the trader a way to do some screen shots which if they chose to print out and make some notes on the page. (Obviously, using the dark background to print a screen out is very messy and hard to write notes on when screen shots are printed out of course.)
I often use the "100%" setting in the configuration because that results in more pixels per inch (higher resolution than the 80/90% settings) and that makes the videos better for zooming in. I also put the videos on the channel up using HD (1080).
Thanks for your comment and good luck to you.
How much money should be in your account to do micro E- mini in daily.
Mohammad:
How Much to Start: TastyWorks requires $2,000 to open ‘the works’ account and a minimum of $2,500 to qualify for the lower intraday margin rates which will allow you to trade during regular day session using only 25% of the overnight margin requirements. Intraday margins are only 25% of the amount for overnight margin requirements; for full into see here: INTRADAY
A COMMENT: You can start with less at some of the other brokers - but it is really tough too start with just a few hundred because if you have a few losing trades, you have to stop until you make another deposit. Something in the $3k to $5k range is a good starting amount. The CME has a free, no deposit, zero cost trade simulation program you can practice with while you get the basics down: www.cmegroup.com/education/practice/about-the-trading-simulator.html
Good luck to you - Don
Thanks for the informative videos. As to your question... I would probably still be in the trade until it reversed and became a losing trade :(
Thanks and goo luck.
I would have been looking to exit where you did ,4110, because, if you look to the left, 4110 was a major support level. I would have been expecting a reversal or consolidation.
Thanks Sandman.
You may wish to see this video: ua-cam.com/video/7YWZMJ2x5m0/v-deo.html
Anyone who insists on a pure technical trading formula and will forgo all your experience, thinking, learning and any hard work or common sense, ---- then I can promise you it will work slightly better than voodoo. -- Don
good luck to you. Season's Greetings
Thanks for the video Don, I will exit when the green candle appears
Good choice, you get to walk away with the green. WTG - Don
Great cont as always and btw : You could narrate anything and it would be interesting
Thank you. Hope you find some useful here on the channel. Welcome. - Don
✅Choosing Profitable Day Trades with the Micro E-Minis: ua-cam.com/video/y0YtHMTJvK0/v-deo.html
✅ **BOOK** : Over 400 FIVE-STAR Reviews - Join thousands who have use this book to get a fast start: Check out the Amazon listing (free Prime shipping) at this link: bit.ly/daytrademicros
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**Must See** ✅ Rule #1: bit.ly/RuleNumber1
✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3
FREE Training Videos at BEGINNERS PLAYLIST:
✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
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When l look at the chart in the first minute of the video, my eye is immediately drawn to 4110 as support, so that’s where I would look to take profits on this setup. Not sure if that’s valid for futures but it’s how I scalp with options. So at 1.37 I would have moved my stop to 4110 and either grabbed 4109 or gotten stopped out on the next candle’s wick.
Not sure if that’s correct thinking.
Appreciate your relaxed voice! Made it very enjoyable to watch.
Great solution Bruce. You preserved unrealized gain, too additional risk out of the trade, and realized the risk on the trade was starting to increase as potential was decreasing. Good luck to you- Don
Don, you did it right. Cautious, is the top of the candle stick. Congratz ! I have to start doing this again, I stopped because of the covid mickey mouse...
Thanks. Good to hear from you - Don
Hey Don., your videos have been very helpful. You've help me to be realistic and understand what is considered what is successful. How did you Handel s&p 500 on friday august 5 2022. It confused me, it seamed as though there were signals all over the place. I couldn't capitalize on any of them. Thank you
Hello Kenneth. I'm not at the screen all times. I only trade 2 or 3 days a week- and only a small part of a day usually.
Here's a playlist with some recent trades for you: bit.ly/PlayListNumber3
good luck to you and thanks. - Don
I would stop at 4125, my heart beat fast toward the end
good luck to you.
👍🏼
buena suerte para ti . Thank you Sergio. - Don
Hi Don, you're a better man than I...I would have been out at 4120. I'm conservative, retired and doing this for fun...and some money. Hah, Hah ! Thanks so very much ! Ron
I understand. Ron you strike on one of the most important point of this kind of trading, you have to know yourself, find out the things that works best for you and then be patient enough to find the opportunities... that is 90% I think. Each trade contains an amount of risk, not trade is completely without it. It sounds so easy, but many people never get to that point....and 'getting there' is finding what works for you. Like fingerprints and snowflakes, no two traders are alike. Hope you have a great '23. When you see you have made a mistake (and we all do) just recognize it, learn something when possible, and move on. (Just like real life, eh? Thank you for your comments. 👍
@@DayTradingMicroFutures And of course, my thanks to you for bringing me back into trading... I did a lot of FOREX a few years ago and I gurss, burnt out. I've been doing some OPTIONS trading recently, but I think Futures is more fun... Thanks for all you do, and to you and yours a very HAPPY NEW YEAR ! Be in touch. Ron
It appears that you never trade during the extended hours. Is this accurate?
Thanks trading grandpa.
I would never say that is always a definite maybe, Eric
@@DayTradingMicroFutures thank you
Get out of here, scammer
I probably would have gotten out at 1:40 n go long trying to get a pull back and would have stopped out 2 points below then try again and get stopped out and just paper cut to death story of my life
I don't recognize your handle so you must be new to the channel. Welcome. Here's my opinion on purely technical trading:
*Anyone who insists on a pure technical trading formula and will forgo all your experience, thinking, learning and any hard work or common sense, ---- then I can promise you it will work slightly better than voodoo.* - Don
And you might checkout this video: ua-cam.com/video/7YWZMJ2x5m0/v-deo.html
Shilling Tasty Works.
Thank you so much.
Here's some links on the channel if you want to explore it some more. good luck to you - Don
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