Just bought your book and waiting for it to arrive. You are a great teacher. Very patient and I enjoy the way you explain things. simple and easy to understand. Thank you so much.
Good luck to you and welcome to the channel - Don Here some links to help explore the channel: 🎥 *Avoid the two worse mistakes in Micro E-Mini Trading* ua-cam.com/video/9GIfxs27H3c/v-deo.html ✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3 **Must See** ✅ Rule #1: bit.ly/RuleNumber1 *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 ✅ Join our 20k+ subscribers FREE & Get notified when new trade videos are posted each week: Subscribe Now at this link bit.ly/3mTTMTn ✅ **BOOK** : Over 550 FIVE-STAR Reviews - Join thousands who have use this book to get a fast start: *Check out the Amazon listing* (free Prime shipping) and read the book reviews and see the Table of Contents at this link: bit.ly/daytrademicros Thank you and good luck - Don
My pleasure! You made my day, Dutchy. Welcome to the channel. Here's a few links to help you explore the channel. Good luck to you - Don 🎥 *Avoid the two worse mistakes in Micro E-Mini Trading* ua-cam.com/video/9GIfxs27H3c/v-deo.html ✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3 **Must See** ✅ Rule #1: bit.ly/RuleNumber1 *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 ✅ Join our 20k+ subscribers FREE & Get notified when new trade videos are posted each week: Subscribe Now at this link bit.ly/3mTTMTn FREE Training Videos at BEGINNERS PLAYLIST: ✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html ✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html ✅ How to Configure Trade Screen and How to Use BRACKET/OCO Orders bit.ly/BracketScreenSetup ✅ **BOOK** : Over 500 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
Hello Mr. Singletary, hope you're great. Younger fellow myself at 21, have recently began investing in futures micros after some years experience in stocks and forex. Subscribed and hugely enjoy watching your videos. You mentioned in a past video, wish I could remember which, to think of the MACD as a weather forecast and even if the MACD is going flat, this indicates price is LOSING momentum. In addition to using support and resistance levels, I am now able to predict price movement with great accuracy before hand. So I say, thank you! Plan on buying your book in the coming weeks - can't wait for more videos. - John
Thanks Louis, my friend. One of the fav videos on the channel is this one, don't know if you have seen it yet. ua-cam.com/video/9GIfxs27H3c/v-deo.html good luck - Don
Thank you very much for the kind words; glad to hear from you and the best of luck to you. - Don 🎥 *Avoid the two worse mistakes in Micro E-Mini Trading* ua-cam.com/video/9GIfxs27H3c/v-deo.html ✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3 **Must See** ✅ Rule #1: bit.ly/RuleNumber1 *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 ✅ Join our 20k+ subscribers FREE & Get notified when new trade videos are posted each week: Subscribe Now at this link bit.ly/3mTTMTn ✅ How to Configure Trade Screen and How to Use BRACKET/OCO Orders bit.ly/BracketScreenSetup ✅ **BOOK** : Over 500 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
Yes, I need to get back on a weekly posting of videos. We've been traveling a bit and I'm working on a new video course coming up the first quarter of '24'. Happy holidays to you and all. -Don
WOW just found your channel and it blew my socks off. You are great, you are professional, a great presenter with a great teaching voice. I think I just became a life kong Subcriber, Thanks for being their for us!
THis video was very helpful! Probably getting the 'cart in front of the horse' ... but have you done any videos on sample 'scaling up' advice or what's the point you consider a good measure of consistent profitability before increasing contract qty?
Glad it was helpful! Welcome to the channel. Nice to hear from you and Thanks. As you see more videos on the channel, they will reveal that I rarely trade solely on an MACD crossing. Think of it as the market movement being the tide of the ocean, and perhaps the MACD are so-to-speak "waves on top." A great many beginners want to believe or perhaps have been told that there is a fixed trade setup with strict rules ( like a math formula )--- that will make money without experience or thought and that it will work for all traders in all markets. Markets, as you and I both know, are dynamic and rarely display a predictable linear trend that can be solved as easily as a mathematical solution. I just put up a new playlist of recent live trades at this link: bit.ly/PlayListNumber3 If you haven't seen it yet, I highly recommend this video for everyone: bit.ly/RuleNumber1 Good luck to you- Don
Hey Don, Good emphasis using consolidation boxes. I incorporate the wicks though and that would have put the lower line at about the opening price and waited for a candle to open and close outside of the box. Hopping on one’s platform an hour or so after opening bell might be a good practice for us noobs to calmly analyze what has happened and find an area of consolidation before pulling a trigger. I think it’s a hallmark that retail traders must do everyday.
And right you are, Bill. The first hour (after the opening bell settles a bit) is usually rich with opportunities. I think its much better than the ' last hour' of the day session ---- and a lot more predictable I think. Good point you make for sure. - Don
You are most welcomed, Shamar. Welcome to the channel and good luck to you- Don ✅ **BOOK** : Over 475 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 FREE Training Videos at BEGINNERS PLAYLIST: ✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html ✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html ✅ Use *BRACKET/OCO Orders* and How to Configure Trade Screen bit.ly/BracketScreenSetup ✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3 **Must See** ✅ Rule #1: bit.ly/RuleNumber1 ✅ *BROKER* **Like the TastyTrade "See It, Click It, Trade It" and the Click 'n drag Mouse?** Here's a link to the TastyTrade sign up and you can use the same software you see in videos here on the channel: bit.ly/TastyBonus today. ✅ In about two business days, you account should be ready (no funding required and if you change your mind, no fees or obligation whatsoever. ✅Here's my affiliate link to take you to the application, so I can get credit for the referral and thank you:** bit.ly/TastyBonus 🎁**TastyTrade will pay up to $3k bonus for new sign ups now until September 30th, 2023. To see if you qualify, check out this link: bit.ly/TastyBonus ✅ Join our 20k+ subscribers FREE & 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
Hello Don, just finished 100 trades with a win rate of 55%. I’ve figured out that I’m doing a good job of managing my losses. I need to improve my trade selections and hold on longer in during winning trade. I’m positive only 245.00
Glad you are finding your path to some profits. We all almost can't turn down a chance to look at charts AFTER the trade. Just remember that is not how the chart looked DURING the trade. That 'genius of hindsight' always found in our charts after the trade -can be deceiving as it is different than what we see during the trade. Great to hear your progess and good luck to you- Don
Thanks Don, I agree with CharlieBoyd, no wiser words can any trader hear, wait and be patience! Loved hearing good, sound, real advise, and it's free!!!! Buy Don's book everyone you'll love it and help him to keep this going.
That is a guideline. There is not a setup or formula that one can use to just mechanically trade. I discuss this in a number of videos with great regularity. Here's the link to my most recent videos: bit.ly/PlayListNumber3 Good luck to you - Don
Currently, there is no discord/private groups. Welcome to the channel. Here are some playlist you might find helpful: I have 170 videos up on the channel over a four-year time period. The best/most popular are the most recent 50 of those. Here's a link with a list of those in chronologic order: ✅ LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3 ✅Here is the channel homepage link that list all videos: ua-cam.com/channels/3WzyRqTuFn2iBjBPu-D6HA.html 🎥✔ One of the most popular (and one of the best IMHO) is this video about the two most common mistakes: ua-cam.com/video/9GIfxs27H3c/v-deo.html My strong suggestion is that you see this one a time or two.. very important things in there. **Must See** ✅ Rule #1: bit.ly/RuleNumber1 *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
Great to hear! Here's a link to a recent and one of the most popular videos on channel, if you haven't see it: The Two Mistakes that can Blow Up Your Account: ua-cam.com/video/9GIfxs27H3c/v-deo.html And another video which was the 'most viewed' in all of 2022. This is a long one but one of the favs on the channel: ua-cam.com/video/7YWZMJ2x5m0/v-deo.html I am using TastyTrade platform on my desktop. It is free for all who have an account with them. Like a lot of brokers, they have a sign up payout bonus (up to $3k) for qualified accounts. To see if you qualify please click here: bit.ly/TastyBonus And here is my affiliate link to open a new account: bit.ly/TastyBonus Good luck to you and I'm very glad to hear from you. Thank you - Don
Hello again Don. I bought your book (highly recommend to anyone seeing this post); and I’ve watched all your videos. THANK YOU. I would love to see a video, or two, of you setting up your OCO, buys, shorting, selling, etc…. Kind of a tastytrades platform 101, based on you and the way you use the platform. Thank you again.
Wonderful. Thank you Derek. I do have a new short playlist with TastyTrade configuration and the Bracket/OCO operation. Here's the link: bit.ly/BracketScreenSetup The link also shows how-to configuration on TT to look like the one I use. I will also work a quick TastyTrade video tour of the platform. thank you- Don
Not sure I understand the question, Tom. The Micro E-Minis have 4 dated contracts per year: MAR JUN SEP and DEC. I trade the most nearby futures contract. Here's a link to the roll dates for the contracts of eminis: www.cmegroup.com/trading/equity-index/rolldates.html
This last trade you shorted when both macd lines were above the zero line. This seems to contradict your earlier videos. Please comment. I am a fan and enjoy your videos. Keep them coming.
You are correct. I don't stick to a pure mechanical method. It's more contextual, things like time of day, the headline news, gov reports, Fed speeches and meetings. And a cursory look at the Morning Squawk (or other) morning newsletter. There's a reason we day micro traders can't average more than a 60/40 win/loss --- The indexes do not trade like the stocks at all. There are so many things that influence the indexes that getting better than 60/40 is almost impossible I would say. Of course there are streaks of good/bad luck but in the long haul 60/40 win/loss is about the best one can do. And to you and anyone reading this, remember you can try out your changes and ideas in a trade simulation mode before you put real money on the table. ✅Use the FREE TRADE SIMULATOR - no credit cards or personal info required: Here's the link to the CME simulator sign up: bit.ly/TradeSimulatorFREE good luck to you- Don Here's a good video if you haven't seen it yet: (about the two most common mistakes when trading micros): ua-cam.com/video/9GIfxs27H3c/v-deo.html
I never do that. It's an illusion that 'playing with house money' is somehow free. Any unrealized gains are always literally one-click away from a trader's account. Of course, any trader can do as they please. Good luck to you. Thanks for your question.
debit D credit C call TT help line; they will be glad to help. Not sure if they are open on weekends here the tel: (888) 247-1963 Sorry for the inconvenience; the TastyTrade customer service is A+. By the way, any time you have a questions about your account, get information direct from your broker. There are many people with great intentions that sometimes will try to help, but when it comes to your money, trading rules, etc ALWAYS best to get info direct from your broker. Don't be shy about contacting them at TT; this prevents misunderstandings and gets the correct info to you fast and direct. To anyone just passing by and reading this: Don't let others speak on behalf of your broker; they might mean well but unintentionally pass on some misinformation. Brokers are just as motivated as you-- to get it right. Contact them, explain your concern, and ask for help. If you are new, there are details and terms which you may not yet fully understand. Good luck and I hope you find lots of 'paydays' out there. - Don
I use TastyTrade in all of the videos here on the channel. Greetings: re: Which Broker? I chose TastyTrade to recommend. Here's why: I use an affiliate link for TastyTrade (*formerly TastyWorks.) *How to Start:* Just fill out the account application at this link bit.ly/TW-Link *No deposit or credit card required - and you do not have to fund your account until you are ready.* Here is the BROKER info. Some points good to know, no matter where you open your account: A little over 3 years ago, I started the Micro E-Mini UA-cam channel. My very next decision was to choose to recommend a broker. I chose TastyTrade/TastyWorks here on the channel since one can trade from one page and slide your order prices up/down with a mouse on the chart screen (so everything is literally one page and easy to manage.) I did realize that a majority of viewers to the channel were likely new to futures trading, often to 'day trading', and that a great many new traders are not schooled in 'how to shop' a broker to use. The array of brokers and types of investing have evolved very fast, particularly in the last five years. For example, all the major brokers do 'zero commission' stock trading. Most people new at it will often shop for the very lowest commission rate. I can tell you virtually all brokers put forth a sort of 'half-truth' when using their low commission rates in advertising. Something, they ALL do. All the brokers have to add 'an exchange fee' and also often 'a transaction fee.' Virtually all brokers have 'free software' but some of the brokers, after signing up new customers will offer an 'enhanced' for 'full features' version of their software for a small additional price. There are two other major 'add ons' that newbies might not see coming: a 'data fee' to pay for quote services (usually $15 to $25 a month)--- and the one that is the 'biggest surprise' is often call a 'wire fee' to transfer money in/out of the customers bank account. Wire fees are often free to fund the account but $30 per transaction to take money OUT of one's bank account. New traders of course won't know to ask about these things (now YOU do if you didn't already.) For traders with no experience trading 'futures,' it can be confusing due to the new terms that are very different from simply 'stock trading.' Here's an interesting fact I took into consideration when selecting a broker: Only 3 of each 100 stock traders, trade options. Only one in ten option traders also trade futures. So you see, for most of the people learning to trade the Micro E-Minis, they are learning about 'trading futures' for the first time. Most people new to futures trading are also trying 'day trading' for the first time. As you have already discovered (I suspect)-- Trading Futures is quite different than stock trading. Futures use a totally different system of leveraging from stocks. Futures are more risky. And not surprisingly-- almost all new futures traders by default will assume trading futures will be a 'add on' to what they know about stock trading. This isn't true. Futures are an entirely different product. The PDR known as 'the pattern day trading rule' (applies to stock trading, but NOT to futures trading.) PDR: According to FINRA rules, you're considered a pattern day trader if you execute four or more "day trades" within five business days. What happens if you break the pattern day trader rule? So what happens if you break the PDT rule? Your account is subject to a margin call. You'll need to deposit enough cash to get your account over the $25K limit. If you don't, your account will be restricted for 90 days. So when you trade futures, the PDR does NOT apply; you can trade as often as you like. And the profits you make are immediately available in your account (no delays at all.) There is another major difference in trading futures than stocks: When you sell a stock, the funds you receive until 'settlement' of the trade two or three days AFTER your trade your proceeds are credited to your account. In trading futures, the minute you close a trade, you money is IMMEDIATELY AVAILABLE for another trade. There is not waiting period at all. One of the most FAQ's I get is 'which broker' and 'how much to fund the account.' It varies from broker to broker. I suggest $3k to $5k if you can. If you are considering TastyTrade, please use my affiliate link. That affiliate link and book sales are how I support this channel with over 160+ free videos. *How to Start:* Just fill out the account application at this link bit.ly/TW-Link *No deposit or credit card required - and you do not have to fund your account until you are ready.* PLUS, even though you cannot trade until you fund, you can still operate the software and check it out. I think you'll like it. 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 ready to begin trading real time. A COMMENT: You can start with less at some of the other brokers - but it is really tough to 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 and is a better experience. The CME has a free, no deposit, no credit card required, zero cost trade simulation program you can practice with while you get the basics down. You can be up and running in about five minutes (and if they are busy at least same day.) : www.cmegroup.com/education/practice/about-the-trading-simulator.html Welcome to the channel and good luck to you. If you have any question about this, just drop me an email. I'll be glad to help. Good luck to you. BTW, TastyTrade not only is easy to use for trading the Micro E-Minis but they have one of the best option trading platforms in the world, so when you trade options that is a huge plus to have. -Don
Hi Don! Been searching on how to trade Futures and you made it so simple! Just bought your book from Amazon too! I should get it tomorrow. Looking forward to having a payday everyday! You’ve definitely been the blessing I’ve been looking for. Keep up the great work! Maybe show some li e trades where you get stopped out? This way, we can see also what we are supposed to do.
Actually over a year ago, I put up a few videos with some of my losing trades ---- and there were only a very few people that would watch them. And if my videos don't get viewed the YT algorithm stops recommending them to people. Actually, watching my losing trades is just not very intertaining. The market moves against me - and I just get stopped out losing $15 to $30 and that's it!. Here's a playlist of my most recent videos: bit.ly/PlayListNumber3 As you go through them, you will see the stop amount I use in every one of them, and I noted in the video you just saw that I- just like everybody else -- lose about 4 in every ten trades. This is just a risky kind of trading and the odds are about 60/40 for the long term, even though you will get 'runs' of good and back luck --- but it's 60/40 for the long haul. One of the most popular vidoes this year is this one that explains the two most common mistakes people make in this kind of trading: ua-cam.com/video/9GIfxs27H3c/v-deo.html ("The two mistakes that will blow up your account.") Good luck to you- Don
@@DayTradingMicroFutures that actually makes a lot of sense. Since you limit your loss, people aren’t as excited as the wins. Thank you for all the info. Keep up the great work! I really appreciate how you take time to explain what you did with consistent results and consistent charts. Bravo to you!
@@bobbychi3n Thank you Bobby. I get asked that question quite a lot actually. Since I rarely post a losing trade, I often point out in the videos that "I lose 40% of my trades just like you." It is very counterintuitive for most people to try to learn to accept losses as actually rather routine (think: normal) in this kind of trading. Oddly, sports training coaches and psychologist deal with this problem constantly. They help their clients learn 'what to do' with losses, performances that are less than perfection. This is why I often say 'trading happens between your ears.' Not all rational decisions result in a homerun. We traders must learn that just because we have losing trades doesn't mean we 'did anything wrong' - it is just a part of this kind of trading. The fact that trading is a solo sport - and nobody is looking over our shoulder is actually a good thing - it is a lot easier (psychologically) to have a losing trade than it is for a golfer to miss a putt in front of a grandstand full of people, or a batter to strike out in front of thousands. Professional poker players on the average actually fold about 50% of the hands they are dealt. I don't have any empiracle data to back this up but I suspect most people that try this kind of investing and finally give it up are the same people who cannot get their heads around the fact that losing 40% of your trades is normal. Anyone who fights for and expects to get to a win rate of much over 60% will have a tough time and always be trying to 'swim upstream.' They are "looking for Easter eggs in the wrong yard." (I don't know where that came from ...LOL) good luck to you- Don
Thanks very much. Yes, 95% of my trades are with MNQ and MES. I had a little fun with the M2K a few months ago with the 'bank scares', etc. Glad to hear from you anytime. Kind regards and good luck to you - Don Give me a link for your 'tech talk' if you have one. - Don
Hi Leo, Futures contracts are a different product than stocks. Futures have a nominal Value and to trade a contract requires a cash deposit in your account called 'the initial margin requirement.' I'll put two links below, one for my book and the other with a 'Beginner's Playlist" to help with the basics. thanks - Don The 'Playlist 1" has the explanation you are seeking I think. ✅ **BOOK** : Over 475 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 FREE Training Videos at BEGINNERS PLAYLIST: ✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html ✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
I don't watch them all, but I'm pretty sure Don has shown losing trades in the past. You might just have to go through the archives and dig around. Might be a good idea for a playlist, since 40% of the trades lose. ;)
Oh yea, I lose about 40% of my micro emini trades, just like everybody else. As I mentioned in the video the win rate doesn't get better than about 60% of trades. There are runs of 'good and bad' luck but for the long haul the 60/40 is pretty constant. This video makes key points for being successful trading the Micro E-Minis. It's an interesting thing. I get asked all the time 'why don't you show your losing trades?' That's a fair question. I tried making videos of some of my losing trades but their viewing was not popular at all; almost nobody watches 'losing trades.' So making those was a waste of time for me (it takes quite a few hours to produce a video.) Another question I get a lot is: "Do you do live trade sessions?" I never do and the 'why' is simple: As I mentioned in this video, about 90% of my 'screen time' I look for good trades and I'm only actually trading less than 3 or 4 minutes per hour at the most. Many people think that trading is a 'gunslinger' thing and always busy, but the opposite is true if the goal is to make money. That's sort of the whole point of this video. I have a decent video on the two most common mistakes in trading the Micro E-Minis at this link: (Whak-A-Mole and Hopscotch) see it at at this link: ua-cam.com/video/9GIfxs27H3c/v-deo.html Glad to hear from you. Good luck to you- Don
Hey Don I wanted to ask a few questions. For Tasty Trade can you create an account under an LLC? Also is the free trade simulator you recommend, paper trading? Thank you
Hope this will help. If you are going to open a new account at TT, check this to see if you are elibible for up to $3k bonus at this link: bit.ly/TastyBonus For opening the LLC, call them at (888) 247-1963 or you might be able to access that info at the signup link to open accounts at: bit.ly/TastyBonus And YES, the free TradeSimulation for paper trading. *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 Welcome. If you have any questions, get back to me. Thanks have a great week- Don
Hey don i dont know if you will see this but ive been watching all of your videos since march of this year and i even downloaded tasty trade and i am very comfortable with my setup, i havent put any money into it yet because ive been buying more important things like my car, but anyways im 18 and i feel trading is what i want to do because i understand everything you say very well about how its not just going to be a day when you just expect to make money, but i've practiced trades multiple times in my head even and practicing the bracket orders, i feel i am ready to put money into it because its to the point i get a little hurt watching potential money i could of made when i practice trade, i know they say about 2500 deposit to start, but i was wondering could i just trust myself that i understand this very well to the point i can put $500 or $1000 in to start doing small trades ? or do i HAVE to start with the minimum of $2500. If you could help me out if you can tell me if i could start with $1000 deposit since i see it's around $500 to trade.
Good morning (sorry didn't get your name). I totally get you are age 18 and are anxious to begin building wisely with your money. This little text box is not the place or format where I can just write a few sentences and do justice and respect to you and your plans and ambitions. If you can send me some way to contact you (like your email or postal address), I'll gladly send you a courtesy copy of one of my books titled Stock Market for Beginners. I'd also want to send you some links with additional ideas to help you get started. You are at a fantastic age to begin and I admire that you want to get moving with your plans. There are very many ways to begin and I'd be glad to point you to some ideas and methods you can consider. Times have changed and for the better; rather than the old traditional methods and phrases.. there are new products, lot of great free software and quicker ways to learn and get started. You need more than just a few words in a 'text box' as this one can deliver. Thanks and good luck - Don So just give me a way to send a copy of my book to you - and I'll be proud to send you a free copy.
OK, what happened to using the MACD, waiting until the red line is below the green line AND both lines are below the zero line? I think the lesson is good, but isn't this more of a gamble than a good trade? It seems to violate your trading rules and is contradictory to your point of trade selection and overtrading. Once you abandon your rules, it's just gambling.
You are correct. I do compare this stock equity index futures to gambling. in this video. I don't stick to a pure mechanical method. It's more contextual, things like time of day, the headline news, gov reports, Fed speeches and meetings. And a cursory look at the Morning Squawk (or other) morning newsletter. There's a reason we day micro traders can't average more than a 60/40 win/loss --- The indexes do not trade like the stocks at all. There are so many things that influence the indexes that getting better than 60/40 is almost impossible I would say. Of course there are streaks of good/bad luck but in the long haul 60/40 win/loss is about the best one can do. And to you and anyone reading this, remember you can try out your changes and ideas in a trade simulation mode before you put real money on the table. (see the link below if you need a simulator.) Using any rules (MACD or otherwise) cannot remove the inherent risk in this type of trading. I of course do not know you so I cannot say what is or isn't for you. This video mentions the inherent risk of this type of trading. There are dozens of types of people and trading. This is one of the more tricky and risky types of trading and it isn't for everyone. I love trading the micros, but most of my personal trading is in /with options; my favorite is defined risk vertical bull/bear spreads. With the spreads and some practice one can dial up or dial down the risk---- but there's never any 'free lunch': As one eliminates risk, the potential returns will drop..... so one can find an amount of risk that suits their account size and risk tolerance. ✅Use the FREE TRADE SIMULATOR - no credit cards or personal info required: Here's the link to the CME simulator sign up: bit.ly/TradeSimulatorFREE Your comment/question is a fair one for sure. Thank you for sending it. good luck to you- Don Here's a line I agree with ---to each his/her own of course: ✅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. Here's a good video if you haven't seen it yet: (about the two most common mistakes when trading micros): ua-cam.com/video/9GIfxs27H3ch/v-deo.htmlttps://ua-cam.com/users/sgaming/emoji/7ff574f2/emoji_u2705.png
Don, I know you keep it simple by design, but I don't think your viewers heads will explode if you introduce them to some of the other Micros available these days. If equities are flat, maybe metals or energy or currencies are moving.
The micro CME gold contract (symbol /MGC) is a great micro and so is the oil Micro CL (Crude).... there are also micro / mini futures on grains (Corn, etc.) Bill, I appreciate the note and thank you. Personally, I trade lots of option spreads and I'm working on a video course for them to come out later this year (Fall.) I try to keep the channel here focused for those new to trading futures and we get a little over 500+ new subscribers a month, so I want to stick with the basics and keep this channel to 'entry level.' It can be very difficult or beginners to learn multiple non correlated futures markets all at one time, especially when the fundamentals of oil, gold, grains, and these index futures are all so different. I really enjoy helping people learn DIY personal investing and here on this channel I stick with the basics. My hope is that people find out that none of this is 'rocket science' and that they can learn to take charge of their financial futures. I appreciate your comment and thank you for your interest. Good luck to you - Don
Just bought your book and waiting for it to arrive. You are a great teacher. Very patient and I enjoy the way you explain things. simple and easy to understand. Thank you so much.
Good luck to you and welcome to the channel - Don
Here some links to help explore the channel:
🎥 *Avoid the two worse mistakes in Micro E-Mini Trading* ua-cam.com/video/9GIfxs27H3c/v-deo.html
✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3
**Must See** ✅ Rule #1: bit.ly/RuleNumber1
*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
✅ Join our 20k+ subscribers FREE & Get notified when new trade videos are posted each week: Subscribe Now at this link bit.ly/3mTTMTn
✅ **BOOK** : Over 550 FIVE-STAR Reviews - Join thousands who have use this book to get a fast start: *Check out the Amazon listing* (free Prime shipping) and read the book reviews and see the Table of Contents at this link: bit.ly/daytrademicros
Thank you and good luck - Don
Don, thank you fir the wise words. I truly appreciate all your help.
You are very welcome Charlie. thank you and good luck - Don
Like so much the way you teach, calm and wise! Thank you for your lessons! 👍👍👍
My pleasure! You made my day, Dutchy. Welcome to the channel.
Here's a few links to help you explore the channel. Good luck to you - Don
🎥 *Avoid the two worse mistakes in Micro E-Mini Trading* ua-cam.com/video/9GIfxs27H3c/v-deo.html
✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3
**Must See** ✅ Rule #1: bit.ly/RuleNumber1
*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
✅ Join our 20k+ subscribers FREE & Get notified when new trade videos are posted each week: Subscribe Now at this link bit.ly/3mTTMTn
FREE Training Videos at BEGINNERS PLAYLIST:
✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
✅ How to Configure Trade Screen and How to Use BRACKET/OCO Orders
bit.ly/BracketScreenSetup
✅ **BOOK** : Over 500 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
have a great weekend Don, another good learning video....
Thanks Big Dave. you enjoy your weekend also. - Don
Hello Mr. Singletary, hope you're great. Younger fellow myself at 21, have recently began investing in futures micros after some years experience in stocks and forex. Subscribed and hugely enjoy watching your videos. You mentioned in a past video, wish I could remember which, to think of the MACD as a weather forecast and even if the MACD is going flat, this indicates price is LOSING momentum. In addition to using support and resistance levels, I am now able to predict price movement with great accuracy before hand. So I say, thank you! Plan on buying your book in the coming weeks - can't wait for more videos.
- John
Thanks Louis, my friend. One of the fav videos on the channel is this one, don't know if you have seen it yet. ua-cam.com/video/9GIfxs27H3c/v-deo.html
good luck - Don
Thanks Don. I appreciate your teaching, Thanks.👍👍👍👍
Thank you very much for the kind words; glad to hear from you and the best of luck to you. - Don
🎥 *Avoid the two worse mistakes in Micro E-Mini Trading* ua-cam.com/video/9GIfxs27H3c/v-deo.html
✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3
**Must See** ✅ Rule #1: bit.ly/RuleNumber1
*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
✅ Join our 20k+ subscribers FREE & Get notified when new trade videos are posted each week: Subscribe Now at this link bit.ly/3mTTMTn
✅ How to Configure Trade Screen and How to Use BRACKET/OCO Orders
bit.ly/BracketScreenSetup
✅ **BOOK** : Over 500 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
Bought the book!! Reading the book!! Love you videos. Make more more often!!
Yes, I need to get back on a weekly posting of videos. We've been traveling a bit and I'm working on a new video course coming up the first quarter of '24'. Happy holidays to you and all. -Don
WOW just found your channel and it blew my socks off. You are great, you are professional, a great presenter with a great teaching voice. I think I just became a life kong Subcriber, Thanks for being their for us!
Welcome aboard! Thanks Joe; you made my day for sure and it's still early on Sunday morning 👍
THis video was very helpful! Probably getting the 'cart in front of the horse' ... but have you done any videos on sample 'scaling up' advice or what's the point you consider a good measure of consistent profitability before increasing contract qty?
Oh you will know when you are ready. It's a gradual build up usually.... got to keep the adrenaline down you know.😀
Thank you!, this is a great video.
Glad it was helpful! Welcome to the channel. Nice to hear from you and Thanks.
As you see more videos on the channel, they will reveal that I rarely trade solely on an MACD crossing. Think of it as the market movement being the tide of the ocean, and perhaps the MACD are so-to-speak "waves on top." A great many beginners want to believe or perhaps have been told that there is a fixed trade setup with strict rules ( like a math formula )--- that will make money without experience or thought and that it will work for all traders in all markets. Markets, as you and I both know, are dynamic and rarely display a predictable linear trend that can be solved as easily as a mathematical solution.
I just put up a new playlist of recent live trades at this link: bit.ly/PlayListNumber3
If you haven't seen it yet, I highly recommend this video for everyone: bit.ly/RuleNumber1
Good luck to you- Don
Always enjoy your futures analysis.
Thank you very much. Good luck to you ..enjoy your weekend - Don
Hey Don, Good emphasis using consolidation boxes. I incorporate the wicks though and that would have put the lower line at about the opening price and waited for a candle to open and close outside of the box. Hopping on one’s platform an hour or so after opening bell might be a good practice for us noobs to calmly analyze what has happened and find an area of consolidation before pulling a trigger. I think it’s a hallmark that retail traders must do everyday.
And right you are, Bill. The first hour (after the opening bell settles a bit) is usually rich with opportunities. I think its much better than the ' last hour' of the day session ---- and a lot more predictable I think. Good point you make for sure. - Don
Great content Don.
Good example of situational fluidity.
You observed and adapted to the terrain.
Daniel, Nice to hear from you and best of luck. I hope you do well. - Don
Thank you Don
Thanks Ben. Glad to hear from you- Don
Thank you for the Great video
You bet Glad to hear from you welcome to the channel.
"and its a lot of fun.." ❤
Well, there is that. 😀
thanks
You are most welcomed, Shamar. Welcome to the channel and good luck to you- Don
✅ **BOOK** : Over 475 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
FREE Training Videos at BEGINNERS PLAYLIST:
✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
✅ Use *BRACKET/OCO Orders* and How to Configure Trade Screen
bit.ly/BracketScreenSetup
✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3
**Must See** ✅ Rule #1: bit.ly/RuleNumber1
✅ *BROKER*
**Like the TastyTrade "See It, Click It, Trade It" and the Click 'n drag Mouse?**
Here's a link to the TastyTrade sign up and you can use the same software you see in videos here on the channel: bit.ly/TastyBonus today.
✅ In about two business days, you account should be ready (no funding required and if you change your mind, no fees or obligation whatsoever.
✅Here's my affiliate link to take you to the application, so I can get credit for the referral and thank you:** bit.ly/TastyBonus
🎁**TastyTrade will pay up to $3k bonus for new sign ups now until September 30th, 2023. To see if you qualify, check out this link: bit.ly/TastyBonus
✅ Join our 20k+ subscribers FREE & 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
Hello Don, just finished 100 trades with a win rate of 55%. I’ve figured out that I’m doing a good job of managing my losses. I need to improve my trade selections and hold on longer in during winning trade. I’m positive only 245.00
Glad you are finding your path to some profits. We all almost can't turn down a chance to look at charts AFTER the trade. Just remember that is not how the chart looked DURING the trade. That 'genius of hindsight' always found in our charts after the trade -can be deceiving as it is different than what we see during the trade. Great to hear your progess and good luck to you- Don
Thanks Don, I agree with CharlieBoyd, no wiser words can any trader hear, wait and be patience! Loved hearing good, sound, real advise, and it's free!!!! Buy Don's book everyone you'll love it and help him to keep this going.
Glad you enjoyed it Rick and thank you. Good luck to you and have a great week. - Don
Question, in the past you’ve said no to short until the MACD lines pass below zero but in this trade lines were well above. Can you please clarify?
That is a guideline. There is not a setup or formula that one can use to just mechanically trade. I discuss this in a number of videos with great regularity.
Here's the link to my most recent videos:
bit.ly/PlayListNumber3
Good luck to you - Don
Excellent trading and training Don - a very valuable video indeed! Many thanks.
Glad it was helpful! It is one hot summer happening, Ken. Stay well - Don
Amazing video do you have a discord or a private group that you host. You’re my favorite on UA-cam !
Currently, there is no discord/private groups. Welcome to the channel. Here are some playlist you might find helpful:
I have 170 videos up on the channel over a four-year time period. The best/most popular are the most recent 50 of those.
Here's a link with a list of those in chronologic order: ✅ LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3
✅Here is the channel homepage link that list all videos: ua-cam.com/channels/3WzyRqTuFn2iBjBPu-D6HA.html
🎥✔ One of the most popular (and one of the best IMHO) is this video about the two most common mistakes: ua-cam.com/video/9GIfxs27H3c/v-deo.html
My strong suggestion is that you see this one a time or two.. very important things in there.
**Must See** ✅ Rule #1: bit.ly/RuleNumber1
*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
Another very good video. Thanks Don for all you do.
As always, glad to hear from you MrNathan. So nice of you
Great video. I've learned a lot from your channel about managing not only my trades but my emotions as well.
Great to hear!
Here's a link to a recent and one of the most popular videos on channel, if you haven't see it: The Two Mistakes that can Blow Up Your Account: ua-cam.com/video/9GIfxs27H3c/v-deo.html
And another video which was the 'most viewed' in all of 2022. This is a long one but one of the favs on the channel: ua-cam.com/video/7YWZMJ2x5m0/v-deo.html
I am using TastyTrade platform on my desktop. It is free for all who have an account with them. Like a lot of brokers, they have a sign up payout bonus (up to $3k) for qualified accounts. To see if you qualify please click here: bit.ly/TastyBonus
And here is my affiliate link to open a new account:
bit.ly/TastyBonus
Good luck to you and I'm very glad to hear from you. Thank you - Don
Great video
Thanks!
Hello again Don. I bought your book (highly recommend to anyone seeing this post); and I’ve watched all your videos. THANK YOU. I would love to see a video, or two, of you setting up your OCO, buys, shorting, selling, etc…. Kind of a tastytrades platform 101, based on you and the way you use the platform. Thank you again.
Wonderful. Thank you Derek.
I do have a new short playlist with TastyTrade configuration and the Bracket/OCO operation.
Here's the link: bit.ly/BracketScreenSetup
The link also shows how-to configuration on TT to look like the one I use.
I will also work a quick TastyTrade video tour of the platform. thank you- Don
You sound like you could work at a radio station
Hello Chris. Thanks, I used to work radio/TV, voiceovers for movie trailers, etc. It was great fun and a great experience. Thank you- Don
@@DayTradingMicroFutures I can see that (or should I say hear) .. Keep the videos coming! Very easy to understand, clear and concise content! Subbed.
@futureshelp LOL... oh yea.. one of the classics for sure.
Definitely, great voice
I was told this once on a zoom call. I told the lady, yeah I've got a face for radio. 🤣
what expiration day are you trading? is it the same day? thx
Not sure I understand the question, Tom. The Micro E-Minis have 4 dated contracts per year: MAR JUN SEP and DEC. I trade the most nearby futures contract.
Here's a link to the roll dates for the contracts of eminis:
www.cmegroup.com/trading/equity-index/rolldates.html
This last trade you shorted when both macd lines were above the zero line. This seems to contradict your earlier videos. Please comment. I am a fan and enjoy your videos. Keep them coming.
You are correct. I don't stick to a pure mechanical method. It's more contextual, things like time of day, the headline news, gov reports, Fed speeches and meetings. And a cursory look at the Morning Squawk (or other) morning newsletter. There's a reason we day micro traders can't average more than a 60/40 win/loss --- The indexes do not trade like the stocks at all. There are so many things that influence the indexes that getting better than 60/40 is almost impossible I would say. Of course there are streaks of good/bad luck but in the long haul 60/40 win/loss is about the best one can do. And to you and anyone reading this, remember you can try out your changes and ideas in a trade simulation mode before you put real money on the table.
✅Use the FREE TRADE SIMULATOR - no credit cards or personal info required: Here's the link to the CME simulator sign up:
bit.ly/TradeSimulatorFREE
good luck to you- Don
Here's a good video if you haven't seen it yet: (about the two most common mistakes when trading micros): ua-cam.com/video/9GIfxs27H3c/v-deo.html
Don, can u trade ES long (1 contract) & MES short (10 contracts) at same time? as in a hedge set up.
I would not advise that. You'd just pay commissions is all.
Can you show a trade where you go long or short 2 contracts then stop out 1 and let the other run?
I never do that. It's an illusion that 'playing with house money' is somehow free. Any unrealized gains are always literally one-click away from a trader's account. Of course, any trader can do as they please. Good luck to you. Thanks for your question.
I do not understand the TastyTrade daily statement? Too many DR and CR on the statement. Do you have a video on this?
debit D credit C
call TT help line; they will be glad to help. Not sure if they are open on weekends here the tel: (888) 247-1963
Sorry for the inconvenience; the TastyTrade customer service is A+.
By the way, any time you have a questions about your account, get information direct from your broker. There are many people with great intentions that sometimes will try to help, but when it comes to your money, trading rules, etc ALWAYS best to get info direct from your broker. Don't be shy about contacting them at TT; this prevents misunderstandings and gets the correct info to you fast and direct.
To anyone just passing by and reading this: Don't let others speak on behalf of your broker; they might mean well but unintentionally pass on some misinformation. Brokers are just as motivated as you-- to get it right. Contact them, explain your concern, and ask for help. If you are new, there are details and terms which you may not yet fully understand.
Good luck and I hope you find lots of 'paydays' out there. - Don
Another great video, keeps it coming. You’re best advice ever. I beginning trading now. Thanks again for great video
Great to hear!
How's it going , which US based , regulated micro futures broker would you recommend trading with ?
I use TastyTrade in all of the videos here on the channel.
Greetings:
re: Which Broker? I chose TastyTrade to recommend. Here's why:
I use an affiliate link for TastyTrade (*formerly TastyWorks.) *How to Start:* Just fill out the account application at this link bit.ly/TW-Link *No deposit or credit card required - and you do not have to fund your account until you are ready.*
Here is the BROKER info. Some points good to know, no matter where you open your account:
A little over 3 years ago, I started the Micro E-Mini UA-cam channel. My very next decision was to choose to recommend a broker.
I chose TastyTrade/TastyWorks here on the channel since one can trade from one page and slide your order prices up/down with a mouse on the chart screen (so everything is literally one page and easy to manage.) I did realize that a majority of viewers to the channel were likely new to futures trading, often to 'day trading', and that a great many new traders are not schooled in 'how to shop' a broker to use. The array of brokers and types of investing have evolved very fast, particularly in the last five years. For example, all the major brokers do 'zero commission' stock trading.
Most people new at it will often shop for the very lowest commission rate. I can tell you virtually all brokers put forth a sort of 'half-truth' when using their low commission rates in advertising. Something, they ALL do. All the brokers have to add 'an exchange fee' and also often 'a transaction fee.' Virtually all brokers have 'free software' but some of the brokers, after signing up new customers will offer an 'enhanced' for 'full features' version of their software for a small additional price. There are two other major 'add ons' that newbies might not see coming: a 'data fee' to pay for quote services (usually $15 to $25 a month)--- and the one that is the 'biggest surprise' is often call a 'wire fee' to transfer money in/out of the customers bank account. Wire fees are often free to fund the account but $30 per transaction to take money OUT of one's bank account.
New traders of course won't know to ask about these things (now YOU do if you didn't already.)
For traders with no experience trading 'futures,' it can be confusing due to the new terms that are very different from simply 'stock trading.' Here's an interesting fact I took into consideration when selecting a broker: Only 3 of each 100 stock traders, trade options. Only one in ten option traders also trade futures. So you see, for most of the people learning to trade the Micro E-Minis, they are learning about 'trading futures' for the first time. Most people new to futures trading are also trying 'day trading' for the first time. As you have already discovered (I suspect)-- Trading Futures is quite different than stock trading. Futures use a totally different system of leveraging from stocks. Futures are more risky. And not surprisingly-- almost all new futures traders by default will assume trading futures will be a 'add on' to what they know about stock trading. This isn't true. Futures are an entirely different product. The PDR known as 'the pattern day trading rule' (applies to stock trading, but NOT to futures trading.)
PDR: According to FINRA rules, you're considered a pattern day trader if you execute four or more "day trades" within five business days.
What happens if you break the pattern day trader rule?
So what happens if you break the PDT rule? Your account is subject to a margin call. You'll need to deposit enough cash to get your account over the $25K limit. If you don't, your account will be restricted for 90 days.
So when you trade futures, the PDR does NOT apply; you can trade as often as you like. And the profits you make are immediately available in your account (no delays at all.)
There is another major difference in trading futures than stocks: When you sell a stock, the funds you receive until 'settlement' of the trade two or three days AFTER your trade your proceeds are credited to your account. In trading futures, the minute you close a trade, you money is IMMEDIATELY AVAILABLE for another trade. There is not waiting period at all.
One of the most FAQ's I get is 'which broker' and 'how much to fund the account.'
It varies from broker to broker. I suggest $3k to $5k if you can.
If you are considering TastyTrade, please use my affiliate link. That affiliate link and book sales are how I support this channel with over 160+ free videos.
*How to Start:* Just fill out the account application at this link bit.ly/TW-Link *No deposit or credit card required - and you do not have to fund your account until you are ready.* PLUS, even though you cannot trade until you fund, you can still operate the software and check it out. I think you'll like it. 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 ready to begin trading real time.
A COMMENT: You can start with less at some of the other brokers - but it is really tough to 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 and is a better experience.
The CME has a free, no deposit, no credit card required, zero cost trade simulation program you can practice with while you get the basics down. You can be up and running in about five minutes (and if they are busy at least same day.) : www.cmegroup.com/education/practice/about-the-trading-simulator.html
Welcome to the channel and good luck to you. If you have any question about this, just drop me an email. I'll be glad to help. Good luck to you.
BTW, TastyTrade not only is easy to use for trading the Micro E-Minis but they have one of the best option trading platforms in the world, so when you trade options that is a huge plus to have.
-Don
@@DayTradingMicroFutures appreciate the timely & thorough explaination, thanks for taking the time to reply, keep up the great job !
@@maxcitytv352 Thank you, Max. Good luck to you- Don 👍👍
Hi Don! Been searching on how to trade Futures and you made it so simple! Just bought your book from Amazon too! I should get it tomorrow. Looking forward to having a payday everyday! You’ve definitely been the blessing I’ve been looking for. Keep up the great work! Maybe show some li e trades where you get stopped out? This way, we can see also what we are supposed to do.
Actually over a year ago, I put up a few videos with some of my losing trades ---- and there were only a very few people that would watch them. And if my videos don't get viewed the YT algorithm stops recommending them to people. Actually, watching my losing trades is just not very intertaining. The market moves against me - and I just get stopped out losing $15 to $30 and that's it!. Here's a playlist of my most recent videos: bit.ly/PlayListNumber3 As you go through them, you will see the stop amount I use in every one of them, and I noted in the video you just saw that I- just like everybody else -- lose about 4 in every ten trades. This is just a risky kind of trading and the odds are about 60/40 for the long term, even though you will get 'runs' of good and back luck --- but it's 60/40 for the long haul.
One of the most popular vidoes this year is this one that explains the two most common mistakes people make in this kind of trading:
ua-cam.com/video/9GIfxs27H3c/v-deo.html ("The two mistakes that will blow up your account.")
Good luck to you- Don
@@DayTradingMicroFutures that actually makes a lot of sense. Since you limit your loss, people aren’t as excited as the wins. Thank you for all the info. Keep up the great work! I really appreciate how you take time to explain what you did with consistent results and consistent charts. Bravo to you!
@@bobbychi3n Thank you Bobby. I get asked that question quite a lot actually. Since I rarely post a losing trade, I often point out in the videos that "I lose 40% of my trades just like you." It is very counterintuitive for most people to try to learn to accept losses as actually rather routine (think: normal) in this kind of trading. Oddly, sports training coaches and psychologist deal with this problem constantly. They help their clients learn 'what to do' with losses, performances that are less than perfection. This is why I often say 'trading happens between your ears.' Not all rational decisions result in a homerun. We traders must learn that just because we have losing trades doesn't mean we 'did anything wrong' - it is just a part of this kind of trading. The fact that trading is a solo sport - and nobody is looking over our shoulder is actually a good thing - it is a lot easier (psychologically) to have a losing trade than it is for a golfer to miss a putt in front of a grandstand full of people, or a batter to strike out in front of thousands. Professional poker players on the average actually fold about 50% of the hands they are dealt.
I don't have any empiracle data to back this up but I suspect most people that try this kind of investing and finally give it up are the same people who cannot get their heads around the fact that losing 40% of your trades is normal. Anyone who fights for and expects to get to a win rate of much over 60% will have a tough time and always be trying to 'swim upstream.' They are "looking for Easter eggs in the wrong yard." (I don't know where that came from ...LOL) good luck to you- Don
What a voice !
Hey Lumi; you made my day. Thank you. The Best of Luck to you- Don
Hey man you got a new subscriber. You really seem like you genuinely want to help people. The trading media space is full of wallys.
@@LumenateBinauralBeats Yes, the 'wallys' abound don't they? Thank you my friend and all the best to you - Don
Well shared wisdom Don! Thanks - If my calcs are correct you made $25 on this sample trade.... Secondly are your trading the Nasdaq micro e-mini also?
Thanks very much. Yes, 95% of my trades are with MNQ and MES. I had a little fun with the M2K a few months ago with the 'bank scares', etc.
Glad to hear from you anytime. Kind regards and good luck to you - Don
Give me a link for your 'tech talk' if you have one. - Don
So how much does 1 contract cost in USD,?
Hi Leo,
Futures contracts are a different product than stocks. Futures have a nominal Value and to trade a contract requires a cash deposit in your account called 'the initial margin requirement.'
I'll put two links below, one for my book and the other with a 'Beginner's Playlist" to help with the basics. thanks - Don
The 'Playlist 1" has the explanation you are seeking I think.
✅ **BOOK** : Over 475 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
FREE Training Videos at BEGINNERS PLAYLIST:
✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
Thanks Sir. Any trade example did not work for you?
I don't watch them all, but I'm pretty sure Don has shown losing trades in the past. You might just have to go through the archives and dig around. Might be a good idea for a playlist, since 40% of the trades lose. ;)
Oh yea, I lose about 40% of my micro emini trades, just like everybody else. As I mentioned in the video the win rate doesn't get better than about 60% of trades. There are runs of 'good and bad' luck but for the long haul the 60/40 is pretty constant. This video makes key points for being successful trading the Micro E-Minis.
It's an interesting thing. I get asked all the time 'why don't you show your losing trades?' That's a fair question. I tried making videos of some of my losing trades but their viewing was not popular at all; almost nobody watches 'losing trades.' So making those was a waste of time for me (it takes quite a few hours to produce a video.)
Another question I get a lot is: "Do you do live trade sessions?" I never do and the 'why' is simple: As I mentioned in this video, about 90% of my 'screen time' I look for good trades and I'm only actually trading less than 3 or 4 minutes per hour at the most. Many people think that trading is a 'gunslinger' thing and always busy, but the opposite is true if the goal is to make money. That's sort of the whole point of this video. I have a decent video on the two most common mistakes in trading the Micro E-Minis at this link: (Whak-A-Mole and Hopscotch) see it at at this link: ua-cam.com/video/9GIfxs27H3c/v-deo.html
Glad to hear from you. Good luck to you- Don
Oh yes, I lose about 40% (just like everybody else.) It's a numbers game of probability and 'trade selection' is the key to profitable trading - Don
@@DayTradingMicroFutures Thank you Sir. Highly appreciated with respect
Hey Don I wanted to ask a few questions. For Tasty Trade can you create an account under an LLC? Also is the free trade simulator you recommend, paper trading? Thank you
Hope this will help. If you are going to open a new account at TT, check this to see if you are elibible for up to $3k bonus at this link: bit.ly/TastyBonus
For opening the LLC, call them at (888) 247-1963
or you might be able to access that info at the signup link to open accounts at: bit.ly/TastyBonus
And YES, the free TradeSimulation for paper trading.
*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
Welcome. If you have any questions, get back to me. Thanks have a great week- Don
Hey don i dont know if you will see this but ive been watching all of your videos since march of this year and i even downloaded tasty trade and i am very comfortable with my setup, i havent put any money into it yet because ive been buying more important things like my car, but anyways im 18 and i feel trading is what i want to do because i understand everything you say very well about how its not just going to be a day when you just expect to make money, but i've practiced trades multiple times in my head even and practicing the bracket orders, i feel i am ready to put money into it because its to the point i get a little hurt watching potential money i could of made when i practice trade, i know they say about 2500 deposit to start, but i was wondering could i just trust myself that i understand this very well to the point i can put $500 or $1000 in to start doing small trades ? or do i HAVE to start with the minimum of $2500. If you could help me out if you can tell me if i could start with $1000 deposit since i see it's around $500 to trade.
Good morning (sorry didn't get your name). I totally get you are age 18 and are anxious to begin building wisely with your money. This little text box is not the place or format where I can just write a few sentences and do justice and respect to you and your plans and ambitions. If you can send me some way to contact you (like your email or postal address), I'll gladly send you a courtesy copy of one of my books titled Stock Market for Beginners. I'd also want to send you some links with additional ideas to help you get started. You are at a fantastic age to begin and I admire that you want to get moving with your plans. There are very many ways to begin and I'd be glad to point you to some ideas and methods you can consider. Times have changed and for the better; rather than the old traditional methods and phrases.. there are new products, lot of great free software and quicker ways to learn and get started. You need more than just a few words in a 'text box' as this one can deliver. Thanks and good luck - Don
So just give me a way to send a copy of my book to you - and I'll be proud to send you a free copy.
How about in crypto can i used this strategy ?
Probably not.
Ok thanks don
Thank you great content
Kevin: Glad you think so! It's always great to hear that. Thank you very much - Don
OK, what happened to using the MACD, waiting until the red line is below the green line AND both lines are below the zero line? I think the lesson is good, but isn't this more of a gamble than a good trade? It seems to violate your trading rules and is contradictory to your point of trade selection and overtrading. Once you abandon your rules, it's just gambling.
You are correct. I do compare this stock equity index futures to gambling. in this video. I don't stick to a pure mechanical method. It's more contextual, things like time of day, the headline news, gov reports, Fed speeches and meetings. And a cursory look at the Morning Squawk (or other) morning newsletter. There's a reason we day micro traders can't average more than a 60/40 win/loss --- The indexes do not trade like the stocks at all. There are so many things that influence the indexes that getting better than 60/40 is almost impossible I would say. Of course there are streaks of good/bad luck but in the long haul 60/40 win/loss is about the best one can do. And to you and anyone reading this, remember you can try out your changes and ideas in a trade simulation mode before you put real money on the table. (see the link below if you need a simulator.)
Using any rules (MACD or otherwise) cannot remove the inherent risk in this type of trading. I of course do not know you so I cannot say what is or isn't for you. This video mentions the inherent risk of this type of trading. There are dozens of types of people and trading. This is one of the more tricky and risky types of trading and it isn't for everyone.
I love trading the micros, but most of my personal trading is in /with options; my favorite is defined risk vertical bull/bear spreads. With the spreads and some practice one can dial up or dial down the risk---- but there's never any 'free lunch': As one eliminates risk, the potential returns will drop..... so one can find an amount of risk that suits their account size and risk tolerance.
✅Use the FREE TRADE SIMULATOR - no credit cards or personal info required: Here's the link to the CME simulator sign up:
bit.ly/TradeSimulatorFREE
Your comment/question is a fair one for sure. Thank you for sending it.
good luck to you- Don
Here's a line I agree with ---to each his/her own of course:
✅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.
Here's a good video if you haven't seen it yet: (about the two most common mistakes when trading micros): ua-cam.com/video/9GIfxs27H3ch/v-deo.htmlttps://ua-cam.com/users/sgaming/emoji/7ff574f2/emoji_u2705.png
Don, I know you keep it simple by design, but I don't think your viewers heads will explode if you introduce them to some of the other Micros available these days. If equities are flat, maybe metals or energy or currencies are moving.
The micro CME gold contract (symbol /MGC) is a great micro and so is the oil Micro CL (Crude).... there are also micro / mini futures on grains (Corn, etc.) Bill, I appreciate the note and thank you. Personally, I trade lots of option spreads and I'm working on a video course for them to come out later this year (Fall.) I try to keep the channel here focused for those new to trading futures and we get a little over 500+ new subscribers a month, so I want to stick with the basics and keep this channel to 'entry level.' It can be very difficult or beginners to learn multiple non correlated futures markets all at one time, especially when the fundamentals of oil, gold, grains, and these index futures are all so different. I really enjoy helping people learn DIY personal investing and here on this channel I stick with the basics. My hope is that people find out that none of this is 'rocket science' and that they can learn to take charge of their financial futures. I appreciate your comment and thank you for your interest. Good luck to you - Don