You keep seeing him make money, but don't believe his success has much to do with finding so-called 2-legged pullbacks. He's looking at much more. Also, don't believe that just because he can do it, you can do it too. He risks 2 points to make 1 point. With risk:reward = 2:1, you'd need to have a 67% win rate just to break even --unless you have successful runners. Profitable runners are the key to success. Yet he dismisses runners as "a gift from the market."
@@herrickinman9303 Great words, I tried back testing his so called to legged pullback and it just doesn't make sense. Two legged pullback happens every time there's much more happening in the way he trade.
@@herrickinman9303 I’ve been watching a few of these videos and I’m not believing his story at all. I’m not a hater, I’m just an experienced trader looking at this objectively. To me it looks like he’s trading a paper account and only posts the winners. With the analysis done after the fact he makes it look easy. Nobody has a %100 win rate! Not even the best traders in the world. And why would you go to a 9-5 job when you make an average of $600 in 3 hours every morning before work? Wouldn’t your time be better spent trading for another 3 hours and making another $600? Even if he’s a doctor it would be pretty hard to make $600 in 3 hours. Not to mention that he would need to have $100,000-$200,000 in his account to meet the margin requirements for the size he’s trading. What do you think?
if ou wanna reach this level u need a lot of time even if u reach it u gonna have to spend a lot of time analysing signals. now im using an automatic robot (program). It can analyse signals better, faster (scalping) and u dont need to spend all of ur time in front of the computer or watching the news every time u need to trade. If u need some help to obtain it u can always contact me here lucy.ben338@gmail . com thank me later ;)
How much is your balance before trading? How much of your balance are willing to risk any time you trade or how much reverse of the operation are you willing to tolerate before closing it negative? Thanks a lot. Good video.
Yo I really love how u trade with that specific bracket only wow. Wish I thought of that. Instead I’m going heavier on mes that’s equal to 1 ES contract. Props to u man .
What he means is that after a pullback, he expects another move in the same direction of the move that preceded the pullback. E.g., Down up Down. Or Up down Up.
Hi Michael, been watching your videos but having a hard time following where your 2 legged pullpack starts at. Can you draw the lines on the candle when you commentate for where you start seeing the 2 legged set up. Thank you.
Wonder full explanation with logic. In every video u say 2 legged movement. Is it Higher High and Higher Low or Lower high and lower Low as per situation? Please advice
Outstanding videos, thanks Michael. One question: why do you always set your runners so very high? You get stopped out on them so often in these videos. I realize that the stops are at break even or above, but why not set the runners closer when you see the breakout slowing down?
Can you please explain your risk vs reward strategy? You are putting a stop at 2 pts below your entry. If you do go long 4 contracts (3+1) and your runner stops out, you earned $150 but you originally risked $200 just to get in. Had your order not gotten to the next whole point of your entry then you lose $200, correct?
andrewpm2 Not quite. Remember, in the ES 1 point= $50 and since he has his stop-loss 2 points under his buy (assuming he is going long), then it would be 2 points x $50= $100 x 4 contracts= $400 (for all 4 contracts); about a 2.67:1 risk/reward ratio. Once he completes the 1 point scalp on the first 3 contracts, he moves his stop loss to “break-even” (to the point where his order filled on the first 3 contracts). That means that if his runner gets kicked out, he wouldn’t have lost the $150 he originally made because he brought up stop-loss to prevent him for losing his original profit.
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On your actual live recorded trading you say that your risk is 400 and your 1 point gain equals to 150. When I place a trade going through your toutoral here, when I place a trade it seems to be for 8k or 9k depending on where the market is. What’s the fix for this so the risk can be 400?
thank you for these tutorials. i notice that i dont see the box that come up when you rite click to set the limit order. i am not aware of ninja trader having a hotkey for limit orders. so how are you setting your limit orders.
Hello. Great video! Thank you. I'm curious about why you prefer a 2000 tick chart as opposed to a 1 minute chart? Just wanting to understand the pros and cons between the two. Thanks so much!
OH MY GOSH! I just watched some of your videos yesterday and set up a couple of templates. Today I made $289 (paper-trading) in the first 25 minutes! I stuck with the 1-minute chart, as it's what I know, and was trading MES. I got a little cocky and gave a bunch back, but was able to make it back within the hour. Now I better understand why to hold out for the 95% or better moves. Thanks so much for the strategy and what to look for!
His first trade made no sense to me. In his 2nd trade did he go long or short? When he set up his limit order on the 2nd trade I thought he was going long. Right after it dropped. Didn’t he lose the trade ? He only won it if he went short but he didn’t say anything about going short.
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Is this method only really working with the tic chart setup and not time based candles or renko/range bars. The reason I ask is because I have two platforms that I use, Tradingview and Metatrader 4 but they don't use tic charts/size of contracts.
You can trade this strategy on any chart, but you'll have to modify the scalp target. For example if you trade a 5 minute chart, then the candlesticks may be bigger so you may have to go for a 2-3 point scalp instead of 1
@@MichaelChin I want to know in the TOS chart I set it up like you did but what's the best time frame to do the trades or it doesn't matter just as long as you're profitable?
I see you pay not Spread, so you must pay commission. On DAX i pay 0,8 Points Spread per lot and on Dow 1,5 Points, so how can people scalp for 1 Point Profit, thats a loss? How much pay you commision ?
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To trade 1 contract u would normaly need 500 $ but due the violatie the most brokers changed it to 1000$ per contract(these are the margin requirement) if u enter a trade u could decide when to exit a trade starting with 1 tick($12.50) in your favor or the opposite direction
He is using the 2000 tick. Its better to use chart timing based on volume since those are actual buys instead of time which might not capture the pattern correctly
You must have an incredible full time job not to quit that, I mean, you are earning 500 USD almost per day, let's say you trade 3 days per week, that is 6k per month with like 2 hours of trading, and you still need that full time job?
No one, makes $500 a day. You can only make what is offered to you. Right now the vol is high as can be, but it won't always be that way. And some days you lose money. If this young man hasn't yet, he will.
@@griffinreitz7041 haha you won't believe in such things. Start believing, you can become excellent. And if you think he's earning 500 USD per day so why is he doing his other job ? guys the stock market is something which can reward you with a lot of money but never be dependent on it unless you're very experienced and skilled. As a trader i am telling you guys that after few trades your mind wont work or focus that efficiently as it should work. So after you book your target move on and shut down the computer/System. Don't sit all the day, the market will take all the profits if you do so.
super, estos videos son de gran ayuda, sobre todo ver tu enfoque sicologico que es el tema mas importante en el trading..... kind regards and thank you
Bull Bear Exponential Moving average. They are like the average movement based on the past few hours or days price and produces an average price. For scalpers, you can always use 3 EMA consisting 8,13,21
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Hi Mike , Fantastic videos but .....could you make your Line etc thicker as it is hard to see them , especially on an iPad ...keep up your Excellent tutorials...cheers jimi from Australia..🤣🇦🇺
Hi Michael, first of all, thank you for this, the way you explain this is so easy. One thing I would like to understand more is the 2 legged move and when to buy or sell.
I am new at this my strategy is very intuitive right now but it is very similar to yours and when you explain the psychology behind all those buys and sells it really helps me.
Hi Michael Chin, Thanks for sharing your strategy. Can you please assist me with the amount needed to do this kind of trade? If you already have that covered in other videos, please share that link.
He is trading futeres were the leverage is build in the central exchange. Per contract u gain or loose 50$ for every dollar (point)it moves . So if u have 3 contracts u will earn 3 times 50 $= 150 $
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I love how you walk us thru the psychology side of trading. Appreciate these videos!
I am so confused about trading futures but I keep seeing him make money and I keep watching
You keep seeing him make money, but don't believe his success has much to do with finding so-called 2-legged pullbacks. He's looking at much more. Also, don't believe that just because he can do it, you can do it too. He risks 2 points to make 1 point. With risk:reward = 2:1, you'd need to have a 67% win rate just to break even --unless you have successful runners. Profitable runners are the key to success. Yet he dismisses runners as "a gift from the market."
I think he dismisses the runners as a gift because he rarely loses a scalp... His price analysis and how he reads the chart is simple but effective
@@herrickinman9303 Great words, I tried back testing his so called to legged pullback and it just doesn't make sense. Two legged pullback happens every time there's much more happening in the way he trade.
@@herrickinman9303 I’ve been watching a few of these videos and I’m not believing his story at all. I’m not a hater, I’m just an experienced trader looking at this objectively. To me it looks like he’s trading a paper account and only posts the winners. With the analysis done after the fact he makes it look easy. Nobody has a %100 win rate! Not even the best traders in the world. And why would you go to a 9-5 job when you make an average of $600 in 3 hours every morning before work? Wouldn’t your time be better spent trading for another 3 hours and making another $600? Even if he’s a doctor it would be pretty hard to make $600 in 3 hours. Not to mention that he would need to have $100,000-$200,000 in his account to meet the margin requirements for the size he’s trading. What do you think?
Can you do videos on all your losses too and not just wins only.
if ou wanna reach this level u need a lot of time even if u reach it u gonna have to spend a lot of time analysing signals. now im using an automatic robot (program). It can analyse signals better, faster (scalping) and u dont need to spend all of ur time in front of the computer or watching the news every time u need to trade. If u need some help to obtain it u can always contact me here lucy.ben338@gmail . com
thank me later ;)
“What I can do is help em move on the day!” Lmao
💀💀💀
How much is your balance before trading? How much of your balance are willing to risk any time you trade or how much reverse of the operation are you willing to tolerate before closing it negative? Thanks a lot. Good video.
How much did you buy? $4,500 45,000? Cause that’s the difference between needing 10% and needing 1% gains.
Yo I really love how u trade with that specific bracket only wow. Wish I thought of that. Instead I’m going heavier on mes that’s equal to 1 ES contract. Props to u man .
Micheal could you explain the 2 step in a little more detail
Thank you
What he means is that after a pullback, he expects another move in the same direction of the move that preceded the pullback. E.g., Down up Down. Or Up down Up.
Hi Michael, been watching your videos but having a hard time following where your 2 legged pullpack starts at. Can you draw the lines on the candle when you commentate for where you start seeing the 2 legged set up. Thank you.
Wonder full explanation with logic. In every video u say 2 legged movement. Is it Higher High and Higher Low or Lower high and lower Low as per situation? Please advice
Stop hunter.....that's is amazing.....helping others to keep calm.
How do I start scalping and what platform is good to use? I’m almost given up on this….lol
HI michael !! at minute 5:57 why do you make the entrance so high?
Outstanding videos, thanks Michael. One question: why do you always set your runners so very high? You get stopped out on them so often in these videos. I realize that the stops are at break even or above, but why not set the runners closer when you see the breakout slowing down?
What broker are you using in this video?
--thanks mike
what is the time frame you use? Thank you.
I like the way you trade and your commentary.
Can you please explain your risk vs reward strategy? You are putting a stop at 2 pts below your entry. If you do go long 4 contracts (3+1) and your runner stops out, you earned $150 but you originally risked $200 just to get in. Had your order not gotten to the next whole point of your entry then you lose $200, correct?
No something around 100$ per contract so 400 $
Can you do this with buying stocks and not options/futures?
andrewpm2 Not quite. Remember, in the ES 1 point= $50 and since he has his stop-loss 2 points under his buy (assuming he is going long), then it would be 2 points x $50= $100 x 4 contracts= $400 (for all 4 contracts); about a 2.67:1 risk/reward ratio. Once he completes the 1 point scalp on the first 3 contracts, he moves his stop loss to “break-even” (to the point where his order filled on the first 3 contracts). That means that if his runner gets kicked out, he wouldn’t have lost the $150 he originally made because he brought up stop-loss to prevent him for losing his original profit.
Hi Michael, how do I get to join you on your live trades?
Can you do this with any stock?
How do you know it's going to break the trend line or not?
What timeframe do you use to find your trends
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Thank you again for your videos.
On your actual live recorded trading you say that your risk is 400 and your 1 point gain equals to 150. When I place a trade going through your toutoral here, when I place a trade it seems to be for 8k or 9k depending on where the market is. What’s the fix for this so the risk can be 400?
Go to the chart trader and set your stoploss at 8 ticks and your take profit at 4 ticks
Do these strategies still work in 2024?
I have watched all the live trading videos but cant tell when the 2 legged pull back is starting? When can you count a leg? Thanks
Try joining our FB Trading Group. There's a ton of discussion over there about this strategy.
bit.ly/FBTradingCommunity
you can count your legs that should work
Have you tried this strategy on the Micro Mini futures? Will it work?
In practice it should, but I've never looked at the MES. It's relatively new, and wasn't available when I first started trading
@@MichaelChin I'll try it on there and see if it works.
I might be dumb bc ive watched all these live tradings and I still don’t understand lol
yeah because its simple and easy lol
@@20jallow simple.reallly? lmfao
thank you for these tutorials. i notice that i dont see the box that come up when you rite click to set the limit order. i am not aware of ninja trader having a hotkey for limit orders. so how are you setting your limit orders.
bracket orders
Hello. Great video! Thank you. I'm curious about why you prefer a 2000 tick chart as opposed to a 1 minute chart? Just wanting to understand the pros and cons between the two. Thanks so much!
OH MY GOSH! I just watched some of your videos yesterday and set up a couple of templates. Today I made $289 (paper-trading) in the first 25 minutes! I stuck with the 1-minute chart, as it's what I know, and was trading MES. I got a little cocky and gave a bunch back, but was able to make it back within the hour. Now I better understand why to hold out for the 95% or better moves. Thanks so much for the strategy and what to look for!
hey
Wish he was still makin vids... ;-) unless hes simtrading and knows what price is gonna do,
How many contracts do you buy/sell when you're trading the S&P500?
His first trade made no sense to me. In his 2nd trade did he go long or short? When he set up his limit order on the 2nd trade I thought he was going long. Right after it dropped. Didn’t he lose the trade ? He only won it if he went short but he didn’t say anything about going short.
Thanks. Do you give live one-on-one training? i live in southern california and can travel thanks michael
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Will you do a video on drawing trendlines?
Is this method only really working with the tic chart setup and not time based candles or renko/range bars. The reason I ask is because I have two platforms that I use, Tradingview and Metatrader 4 but they don't use tic charts/size of contracts.
You can trade this strategy on any chart, but you'll have to modify the scalp target. For example if you trade a 5 minute chart, then the candlesticks may be bigger so you may have to go for a 2-3 point scalp instead of 1
@@MichaelChin I want to know in the TOS chart I set it up like you did but what's the best time frame to do the trades or it doesn't matter just as long as you're profitable?
@@partyfavors9238 I like to use the 2000 Tick Chart
@@MichaelChin I see. Thanks for your timely response.
What website are you using to do your day trading?
Very very instructive, ty!
Thank you
Hey brotha good stuff I would love for more in depth teaching
I see you pay not Spread, so you must pay commission. On DAX i pay 0,8 Points Spread per lot and on Dow 1,5 Points, so how can people scalp for 1 Point Profit, thats a loss? How much pay you commision ?
It looks like $50/pip? How massive is that trading account?
How much is the commission? per contract?
how long have you trading?
Lovely video :)
is a Buy/Stop Order Pretty much the Same as a Conditional Order?
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👍
what is your what chart time are you using. 5 min 10 min etc??
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how much does he lose if it hits his stop lose?
Ray FC $0
Something around 100 $ per contract
Hey Mike i need your help bro
how much is a single contract?
To trade 1 contract u would normaly need 500 $ but due the violatie the most brokers changed it to 1000$ per contract(these are the margin requirement) if u enter a trade u could decide when to exit a trade starting with 1 tick($12.50) in your favor or the opposite direction
what trading platform are you using in this video?
ninjatrader 8
may I know what timeframe u r using? 5M or 15M? thank you
He is using the 2000 tick. Its better to use chart timing based on volume since those are actual buys instead of time which might not capture the pattern correctly
You must have an incredible full time job not to quit that, I mean, you are earning 500 USD almost per day, let's say you trade 3 days per week, that is 6k per month with like 2 hours of trading, and you still need that full time job?
you're forgetting about taxes...
No one, makes $500 a day. You can only make what is offered to you. Right now the vol is high as can be, but it won't always be that way. And some days you lose money. If this young man hasn't yet, he will.
@@griffinreitz7041 haha you won't believe in such things. Start believing, you can become excellent.
And if you think he's earning 500 USD per day so why is he doing his other job ?
guys the stock market is something which can reward you with a lot of money but never be dependent on it unless you're very experienced and skilled.
As a trader i am telling you guys that after few trades your mind wont work or focus that efficiently as it should work. So after you book your target move on and shut down the computer/System. Don't sit all the day, the market will take all the profits if you do so.
@@griffinreitz7041I can tell you don't. You can't speak for everybody else.
super, estos videos son de gran ayuda, sobre todo ver tu enfoque sicologico que es el tema mas importante en el trading..... kind regards and thank you
Dude do u ever have negative days
he stops traading coz he lost hes house from traiding worth 3million dollars...
What is EMA?
Bull Bear Exponential Moving average. They are like the average movement based on the past few hours or days price and produces an average price. For scalpers, you can always use 3 EMA consisting 8,13,21
0:54 5:20
I still don't understand.. why do i need to work if i have that skills. $450 - $700 a day is my monthly salary here in my country...
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The perfect side income...just 30 mins a day.
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Why you still go to work😪😪
PLEASE back down your microphone gain!! You are distorting terribly.
Hi Mike , Fantastic videos but .....could you make your Line etc thicker as it is hard to see them , especially on an iPad ...keep up your Excellent tutorials...cheers jimi from Australia..🤣🇦🇺
Hi Michael, first of all, thank you for this, the way you explain this is so easy. One thing I would like to understand more is the 2 legged move and when to buy or sell.
I am new at this my strategy is very intuitive right now but it is very similar to yours and when you explain the psychology behind all those buys and sells it really helps me.
Post more trading video sir ❤❤ love from India 🇮🇳
I would like to learn that method, could you assist me
I'll have a strategy video out later this week. Stay tuned!
Michael Chin hi can you please share a link to the strategy video?
Hi Michael Chin, Thanks for sharing your strategy. Can you please assist me with the amount needed to do this kind of trade? If you already have that covered in other videos, please share that link.
Saravanan Madhappan depends on the broker. He uses ninja trader. The day margins for /ES is 500$ per contract
WHY DOESNT HE MAKE SOME NEW VIDEOS THE MARKET IS VERY CHANGED NOW WOULD LIKE TO HEAR SOME STRATEGY
ikr lol
Can someone explain to me how is it possible to gain 150$ with just 1$ price movement? Even if you use a 20 times leverage with 20K, you can't.
He is trading futeres were the leverage is build in the central exchange. Per contract u gain or loose 50$ for every dollar (point)it moves . So if u have 3 contracts u will earn 3 times 50 $= 150 $
Oscar Perillo each tick in futures on ES contracts are 12.50$ x 4 = 50$ x 3 contracts = 150$
Great. which broker you use Micheal?
Anyone know where he trades
Guys - does this strategy really work? Because if so I know I can master it.
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Hello Michael, I still watch you videos, where did you disappear, I haven’t seen any new videos
Loving the cheeky smile when you know the majority of the traders are wrong and put your Buy Limit and get it!
I don't know how to do this scalping in olymp trading 😑
Amd iron flys
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what trading platform do you use?
Very good
man i want to be like you...omg i dont have to go to work 5-10 mins aday 500$ omg
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So sick youre amazing!!
Thanks Richard!
Thank you so much!😁 The way you explain your videos really helps me understand a way that guarantees a profit.👌🏼👍🏻