Day Trading in a Volatile Market | Live Scalping 014

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  • Опубліковано 10 бер 2020
  • 🎓 Trade with me: www.firesidetrading.com/
    ---
    Volatility increases the speed and size of our candlesticks, but that doesn't stop our scalping strategy. We can still execute the same setups even in this dangerous market environment.
    ---
    DISCLAIMER: These videos are for educational and entertainment purposes only. There are inherent risks associated with investing in securities and other financial instruments. Please carefully consider whether trading is suitable for you given your current circumstances, knowledge, and financial situation.
    #DayTrading #FiresideTrading #MichaelChin

КОМЕНТАРІ • 523

  • @GSK368
    @GSK368 2 роки тому +7

    I WILL FOREVER APPRECIATE THIS CHANNEL, YOU'VE
    HELPED ME AND MY FAMILY A LOT, YOUR VIDEOS,
    ADVISE, LESSONS ARE HELPFUL TO US. MY HUSBAND
    AND I HAVE BEEN ABLE TO MINIMAL CONSCIOUS IN
    SPENDING AND SAVING BUT INVESTING WISELY. I
    NOW EARN EVERY WEEK. YOU'RE SUCH A BLESSING
    TO THIS GENERATION AND WE LOVE YOU.

  • @nicholaswilliams7893
    @nicholaswilliams7893 3 роки тому +10

    Love your videos man! It really helps to understand the phycology of what other traders are doing in their trades and how to benefit from it. I'm glad I came across your channel.

    • @andreijikh683
      @andreijikh683 3 роки тому

      THANKS FOR WATCHING.
      Reach out to me directly for your guidance...!!!
      ....W-h-a-t-s-p-p....{{🇱🇷+•1•7•8•1•2•0•8•9•3•4•1}}

  • @Tom-pe2ef
    @Tom-pe2ef 2 роки тому +2

    You videos are awesome man, keep up the good work!

  • @herrickinman9303
    @herrickinman9303 3 роки тому +9

    "Both a 2-legged pullback and a 2-legged trap." The problem is that EVERY 2-legged pullback is a potential trap. A 2-legged trap is, by definition, a 2-legged pullback where the next leg doesn't move far enough in your favor before you get stopped out.

  • @janezelcador7458
    @janezelcador7458 3 роки тому +18

    I imagined that forex could be so tasking. I kept coming back to these youtube videos for more information.
    This clip was so helpful.

    • @janezelcador7458
      @janezelcador7458 3 роки тому

      Trading as a beginner can be very confusing and complex and if not properly guided by an expert and experienced broker, it can result to disastrous losses but with Mr Arlen's proven strategies, you are assured of your profits always.

    • @janezelcador7458
      @janezelcador7458 3 роки тому

      *ARLENHAYWOOD4 GMAIL COM*

    • @ibrahimfarouq9238
      @ibrahimfarouq9238 3 роки тому

      I from Bahrain, I make losses before trade on forex market but I see Mr Arlen Haywood in a comment and I write him and he help me recover my losses and now I make profit only.

    • @marianascott8915
      @marianascott8915 3 роки тому

      I'm a mother of four boys and I started up trading with Mr Arlen Haywood due to the covid-19 pandemic across the world and its been a profitable venture for me trading with him and I'm now considering quitting my job and becoming a full time forex trader.

    • @uydaquoling9343
      @uydaquoling9343 3 роки тому

      Been seeing a whole lot of positive feedbacks about him and his effective trading strategies and I must say I'm really impressed with the result and the profits so far.

  • @garrettkiger2599
    @garrettkiger2599 3 роки тому +2

    you show a lot of discipline and maturity knowing when not to take a riskier trade; and knowing to recognize your signs of mental fatigue and tap out and not trade farther.

  • @3pierre91
    @3pierre91 2 роки тому +3

    Good strategy, especially in sideways market. I always traded the two symmetrical legs but on higher timeframe. It is so much quicker to do it on smaller timeframe, just increase the number of contracts. Very well done and well thought of. Many thanks

  • @felipeiturralde2265
    @felipeiturralde2265 4 роки тому +3

    Michael thank you so much for making these videos, I’ve improved my scalping technique thanks to your recommendations, I’m very grateful. All the best to you!

    • @hanimaprakash313
      @hanimaprakash313 4 роки тому

      Felipe Iturralde thinking of starting your own trade today then you need a professional trader as a mentor with the best strategies that’s why i recommend mr Alex Wood he’s professional broker and the best account manger he’s always reliable.

  • @jerryjohn6525
    @jerryjohn6525 2 роки тому +26

    Nice video!! Very engaging from the beginning to the End., I'm new to crypto trade and I have been making huge losses but recently i see a lot of people earning from it. Can someone please tell me what I'm doing wrong

    • @christabel_mm7191
      @christabel_mm7191 2 роки тому

      That is true, you need an expert broker and account manager to make good profit from Bitcoin trade.

    • @progressbucks8709
      @progressbucks8709 2 роки тому

      As a beginner who don't understand how Bitcoin trade really works and you really want to make profit from it. I will advise you to first start working with a professional

    • @dralex452
      @dralex452 2 роки тому

      How can someone know a professional acount manager that is trustworthy when legit once are hard to find this days.

    • @wizard5219
      @wizard5219 2 роки тому

      Have a target profile on Bitcoin
      Keep investing Keep holding 90% of millionaires right now are investors in the crypto market

    • @georgemarcus8647
      @georgemarcus8647 2 роки тому

      Mrs Hannah is legit and her method works like magic I keep earning every single week with her new strategy

  • @luminariezx9834
    @luminariezx9834 4 роки тому +20

    I finished all ur videos please make more lmao

    • @bradleyhommerson6541
      @bradleyhommerson6541 3 роки тому +1

      FR where is this man

    • @jrueskixo
      @jrueskixo 3 роки тому

      ​@@bradleyhommerson6541 we need you to come Mr. Chin

    • @silverleaf1617
      @silverleaf1617 2 роки тому

      What happened to him? Does he he social media?

  • @sagargoradia2854
    @sagargoradia2854 4 роки тому +1

    Dude you are best 👌

  • @Light00000
    @Light00000 4 роки тому

    Nice
    🍻🍻🍻
    Im excited this was uploaded

  • @barryspurlock3048
    @barryspurlock3048 4 роки тому +5

    I am so glad i found your channel because i have been using your two legged pullback and its working out for me.

    • @christophermckimie755
      @christophermckimie755 4 роки тому +1

      Barry Spurlock lately I've noticed more Pullbacks tend to be required when the market contracts after the initial open trend, maybe it's just me🤷🏽‍♂️

    • @michaelchin1865
      @michaelchin1865 4 роки тому

      Sounds great

  • @tinyutopia825
    @tinyutopia825 4 роки тому +1

    Hey Michael, love the vids. How do you drop the the runner stop on the buy line when the scalp target is met? Is it a script or hotkey? Thanks!

  • @DK-ki2fh
    @DK-ki2fh 4 роки тому +2

    Thanks for the videos. Keep posting these trading videos! I'm learning a lot. Just funded my NT account.

  • @malikimran5827
    @malikimran5827 4 роки тому +3

    Interesting concept as I've been trading in similar way on 1 min charts of FX majors.

  • @WhoThatKatiaGirl
    @WhoThatKatiaGirl 2 роки тому +2

    Where you @ Mike?? You haven't posted in a year? Need another Live scalp series. Did you quit trading for your day job?

  • @futurestradingwithmike
    @futurestradingwithmike 2 роки тому +2

    Great content covering S&P 500 futures. Where did you go? **Futures Trading with Mike**

  • @Nalitus7331
    @Nalitus7331 4 роки тому +4

    Michael, i was wondering in your next video you might explain about stop losses and the pros and cons of using them, i recently felt the pain of what a stop loss does in a volatile market but until then i was totally unaware.

  • @z32kev98
    @z32kev98 4 роки тому +2

    im 17 and turn 18 next month cant wait to start trading 😜love your vids very educational

    • @ivanlovric1197
      @ivanlovric1197 3 роки тому +2

      dont trust him.He says "we managing our risk" he made 300$ from 2 trades or 3 and lost all of that from 1 trade haha guys this is such a bullshit hes risking the double then the potential reward. He is just trying to sell you something dont trust that you will never make money if your risk is biger than your reward. Imagine having a losing streak like 4 losses in a row (which every strategy has) this means you need to win 8 in a row to get at break even

    • @z32kev98
      @z32kev98 3 роки тому +2

      @@ivanlovric1197 looking back at this comment is cringe. But yeah im doing some dividends on companies with low risk now.

  • @mrxxiii1807
    @mrxxiii1807 3 роки тому +1

    Sir best part is ur using pending order which means u will get 1 tik for sure if ur order executed and ur moving ur stop loss as quit as possible

    • @deadnsyde6071
      @deadnsyde6071 3 роки тому

      WRITE MY EXPERT TO HELP YOU MAKE HUGE PROFIT

    • @deadnsyde6071
      @deadnsyde6071 3 роки тому

      🇺🇸 2:0:9:5:8:4:0:8:7:5

  • @thisilove5477
    @thisilove5477 4 роки тому +3

    Mike, do you have a video showing how to set up exactly the same way in Thinkorswim (i use TD) that you are showing, including those trend line and the moving upticks and downticks; also, I trade using my 401k account and can only long and can't short, i guess that's a disadvantage but can still do some trades at least; today is a really crazy rollercoaster day but i managed to pull ahead (again) trading regular stocks but i really like the way you do it; it looks simpler but i guess that also requires very high accuracy, especially you are bettering $2 bucks to make $1 per contract, yes?

  • @TheEriccli
    @TheEriccli 4 роки тому +1

    Did you program the trade strategy by yourself? what kind of trading platform you are using? Thanks

  • @newbassplayer4005
    @newbassplayer4005 4 роки тому +1

    I want to thank you for making all those video it's very informative. Can you do a tutorial video how you set up the runner after you hit the 1point target? Thanks

  • @tracer888
    @tracer888 4 роки тому +2

    Love your videos, would I know you do a lot of price action, would love to see your take on ichimoku kinko hyo though, has a slightly different follower line than the 21 ema but I do love your style! I believe the TDAmeritrade ichimoku is set up correctly by default but the NT may need adjusting.

  • @GatsHawk
    @GatsHawk 4 роки тому +2

    I'm really liking your strategy on this. I started paper trading on ninja trader and doing what you do and I made $200 pretty easy doing single contracts. I look forward to doing this with real money and making profit

    • @MichaelChin
      @MichaelChin  4 роки тому +2

      Take your time and be patient. There's no rush to start live trading

    • @GatsHawk
      @GatsHawk 4 роки тому

      I won't be live training for at least another month or so. I'll be starting with a small account to grow. I'll be paper trading pretty much every day until I go live to make sure I have a solid plan and don't take too many Ls

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      Gatshawk 321 best thing to do is wait until the market settles more its way too volatile right now

    • @josecuervo1446
      @josecuervo1446 4 роки тому

      Also. Trade the /MES when you first start till you get more experience. Might keep you from blowing your account

  • @balvantrai692
    @balvantrai692 4 роки тому +1

    I like to see more videos, please

  • @alexdennison2669
    @alexdennison2669 3 роки тому +1

    Great videos - two questions... what MA should I use? And do you not have spread with your brokerage?

    • @andreijikh683
      @andreijikh683 3 роки тому

      THANKS FOR WATCHING.
      Reach out to me directly for your guidance...!!!.:.:.:
      ..W.:h.:a.:t.:s.:p.:p::
      +.:1.:7.:8.:1.:2.:0.:8.:9.:3.:1.:.:.:

  • @pokeflo_store
    @pokeflo_store 4 роки тому +3

    Hello Michael, I've been learning a lot from your videos and appreciate it very much you taking the time to show us how things are done. Question though, I'm having a hard time understanding how much money is required to trade on the s&p 500 futures. I have an account with 5k in it and it won't let me buy even 1 contract and I see you buying 3-4 and I believe you mentioned something about 500$ per contract but it takes 10k out every 1 trade. I'm just trying to see maybe I have a setting off or something. thank you!

    • @christophermckimie755
      @christophermckimie755 4 роки тому +1

      Jweener thinkorswim requires a 20,000 minimum i believe. Although the margins were increased today even on minja due to volatility so that may be your issue youre having

    • @rajijamila3283
      @rajijamila3283 Рік тому

      Im not a beginner and i don’t know much about this but i think it’s because of leverage look it up

  • @ChrisHsu
    @ChrisHsu 4 роки тому +3

    Hey Michael. It seems that you're able to make judgement calls on whether a bar is considered a pullback vs part of the same leg. Let's say at 0:47 are higher than the previous bar LIke at 0:47 the bar different was minimal but you drew it as a 2-legged pullback but at 05:14 you'll see a red sandwiched between 2 greens and is lower, yet you included it as the same leg. I assume this is taking into account trending as another factor when you're determining what is a pullback, not only just looking at the candlestick. Any more insight you can share about this?
    I'm also wrapping my head how to read what you did at 02:36 as it was like 2, 2 legged pullback you drew out to make that decision to go short. Was it just needing that trend line to make that decision? If there wasn't a trendline you were following, would you still have made that same play?

    • @jmr827
      @jmr827 4 роки тому

      Chris, agreed. I saw the same thing. I didn't understand it.

  • @klangprinz-smoothrelaxingp6916
    @klangprinz-smoothrelaxingp6916 4 роки тому +2

    Good video. Maybe good combination with my trend trading

  • @1V2N1V2
    @1V2N1V2 4 роки тому +1

    @Michael Chin Great COntent, do you use DOM in your setup?

  • @HHANZO999
    @HHANZO999 3 роки тому +2

    Hi there! I´ve just found your channel....Im curious....what time frame are you trading??

    • @jesseeckel9139
      @jesseeckel9139 3 роки тому

      Alright welcome mate.
      Just reach me on telegram@michael_chin1 for more information and guidance

  • @skyblu5876
    @skyblu5876 3 роки тому +1

    Hello, do you scalp the NQ and the Russel 2000 ? What do you think about the mini e-micro also (MES, MNQ, M2K, MYM) contracts for scalping ? Thanks.

    • @andreijikh683
      @andreijikh683 3 роки тому

      THANKS FOR WATCHING.
      Reach out to me directly for your guidance...!!!.:.:.:
      ..W.:h.:a.:t.:s.:p.:p::
      +.:1.:7.:8.:1.:2.:0.:8.:9.:3.:1.:.:.:

  • @coryellhome
    @coryellhome 3 роки тому +2

    Has anyone taken his and Riley's Scalping Masterclass course? And if so, was it super helpful? I have enjoyed his videos and I'm wanting to take a course, but he hasn't uploaded anything in awhile. I would also appreciate seeing more than just 1 review of people who have taken the course before I put the money down. Thanks!

    • @iSweetnSimple
      @iSweetnSimple 3 роки тому +1

      I’m interested as well. But I’ll wait for a review.

    • @MyHandcannon
      @MyHandcannon 3 роки тому

      @@iSweetnSimple

    • @brianjung3727
      @brianjung3727 3 роки тому

      Contact my broker you will be guided better on diversification of your portfolio

  • @mann234
    @mann234 4 роки тому +8

    lol He says he's tired. Man - it is ALL worth it lol

  • @ralphneufeld3071
    @ralphneufeld3071 4 роки тому +1

    so i have been paper trading with limit OCO and single orders and a number of times the bid and ask prices are exactyly where they should be in order to get field but i dont get filled, any idea why that would be happening? when i trade stocks i always get filled almost at once

  • @1017cariel
    @1017cariel 3 роки тому +1

    Can you make a video on what to expect with taxes?

    • @jesseeckel9139
      @jesseeckel9139 3 роки тому

      Yes sure!!
      You can reach me on telegram@michael_chin1
      For more information and guidance

  • @Cozmik_Trading_Academy
    @Cozmik_Trading_Academy 4 роки тому +3

    So Michael do I have this right? We are searching for a two-legged pull back against the trend?

    • @__-qn7tg
      @__-qn7tg 3 роки тому +1

      You dont want to join those, you want to trap against those. Safer to trade with trend.

  • @srcontrol11
    @srcontrol11 4 роки тому +4

    where did you Michael chin? Been still waiting on your live trading sessions. The ones that you actually go live on youtube and show your viewers that you can actually trade. Or how about your P&L sheet?

  • @jacquesspins
    @jacquesspins 4 роки тому +3

    here everyday

  • @jamaljackson9180
    @jamaljackson9180 4 роки тому +2

    Quite the interesting strategy. Where did you originally find this day trading strategy?

  • @JedIIII
    @JedIIII 3 роки тому +2

    Where is this guy?

    • @joshwegman4001
      @joshwegman4001 3 роки тому +1

      Blew up his account most likely

    • @jesseeckel9139
      @jesseeckel9139 3 роки тому +1

      Reach me on telegram@michael_chin1 for more information and guidance

  • @teddylasso2001
    @teddylasso2001 4 роки тому +2

    Does this system work to trade index funds during regular market hours, or can I only use it to trade futures? Thanks great videos!

    • @MichaelChin
      @MichaelChin  4 роки тому +1

      It'll work on other markets, but your profit target may be different

  • @kwekuzuta9944
    @kwekuzuta9944 16 днів тому

    @MichaelChin surely that set up at around 5 mins is a three legged pullback or is there not such a thing?

  • @barbarawooldridge
    @barbarawooldridge Рік тому +6

    This a great video, I learn a lot watching your videos and it has been helpful to me. Building a steady income is quite difficult for newbies. Thanks to Mrs Sonja Verlina for improving my portfolio, keep up with good videos.

    • @elfrenavilas
      @elfrenavilas Рік тому

      wow.. amazing to see others who trade with Mrs Sonja Verlina,i'm currently on my 5th trade with her and my portfolio has grown tremendously.

    • @matinsorkson
      @matinsorkson Рік тому

      With the consistent weekly profits I'm getting investing with her , there's no doubt she is the most reliable in the market. such a genius

    • @barbarawooldridge
      @barbarawooldridge Рік тому +1

      ​@Mason alfie
      You can communicate with her by telegam with the username below...

    • @barbarawooldridge
      @barbarawooldridge Рік тому +2

      @Mason alfie
      INVESTWITHSONJA

    • @davidmaguire4
      @davidmaguire4 Рік тому

      Amazing I also just started trading with her, she is the best at what she does with an initial investment of$1400 i made up to $5230 in just a week of trading with her,her strategies are mind blowing.

  • @JamespMusic
    @JamespMusic 4 роки тому +4

    Why did you stop posting.

    • @knott333
      @knott333 3 роки тому

      Got 2 years in federal prison for wire fraud.

  • @PeterWalking
    @PeterWalking 4 роки тому +1

    Regarding the last trade which you mentioned you missed, is that really a 95% trade? seems like the trend was pretty bullish. Love your videos btw, profiting from it! :)

    • @MichaelChin
      @MichaelChin  4 роки тому

      No 95% is an exaggeration...but these scalps tend to be high win rate %

  • @Dashkanass
    @Dashkanass Рік тому +1

    It might be too personal but how many percent is $150 compared to your capital?

  • @BluegrassBackroadBuilds
    @BluegrassBackroadBuilds 4 роки тому +1

    Hello Michael I have a question for day trading options on a cash account coming from robinhood which platform would you recommend thinkorswim or ninja trader or another one? Thanks so much

  • @CRAZZYZ1
    @CRAZZYZ1 2 роки тому +1

    Hello Micheal! what platform are you using for your trades?

    • @whatapp830
      @whatapp830 2 роки тому

      Thanks for watching
      Hit me up there ☝️☝️
      There are profitable nods and patterns I’d love to show you 🚀🚀.,..

  • @bryanfrazier831
    @bryanfrazier831 4 роки тому +1

    Michael. Thanks for all the info. How do you get that little box showing your daily profit loss on ninjatrader?
    Thanks, bryan

  • @DavidBBergen
    @DavidBBergen 4 роки тому +1

    Hey Michael, question, your are using limit orders and you are doing one click entry, I'm trying to do the same thing without having that calculator show up on the screen having to hit the check mark, do you know how to get rid of it, NINJA TRADER couldn't answer that ... thanks

    • @MichaelChin
      @MichaelChin  4 роки тому

      I heard it has to do with your limit offset being less than 1

  • @howeldpowell
    @howeldpowell 4 роки тому +2

    Hi Michael, I noticed that the runner automatically moves to the last price traded at 2:35. How can you set that up in Thinkorswim?

  • @kenzy18
    @kenzy18 4 роки тому +1

    Really good videos thanks. how much cash do you need for your strategy?

    • @christophermckimie755
      @christophermckimie755 4 роки тому +1

      anthony barbe $2000 is a recommended place to start to cover any potential losses. If you're new try the MES first

    • @danielmills8440
      @danielmills8440 4 роки тому

      @@christophermckimie755 contact admin on what'sapp

    • @danielmills8440
      @danielmills8440 4 роки тому

      :;《+1(360)-549-4304:;.

  • @truetech4158
    @truetech4158 4 роки тому +4

    #HelpingCertainPeopleToGetOnWithTheirDay

  • @givenchia7065
    @givenchia7065 2 роки тому +1

    Hi Michael, wondering if your could share the link to download the same platform you use in your videos for live trading please?

  • @DAWAHTIME1
    @DAWAHTIME1 4 роки тому +1

    I didn't understand where he sets his stop loss? and profit targets

    • @siegemoments5580
      @siegemoments5580 4 роки тому

      the platform does it for him (ninja trader 8)

    • @DAWAHTIME1
      @DAWAHTIME1 4 роки тому

      @@siegemoments5580 Thx. Does it also select the entry price?

  • @naseerrahimi7464
    @naseerrahimi7464 3 роки тому +2

    What is your risk to reward ratio ??

    • @marcocasario10ontelegram28
      @marcocasario10ontelegram28 3 роки тому

      Thanks for watching.
      Reach me on telegram @michael_chin1 for more information and guidance

  • @dontmind02
    @dontmind02 4 роки тому +3

    How much capital do you actually need to enter futures trading?

    • @Michaelwilliams89033
      @Michaelwilliams89033 3 роки тому

      i started trading with a capital of $3000 with wilsons trading and i have made wonderful progress under mr wilsons mentorship

    • @Michaelwilliams89033
      @Michaelwilliams89033 3 роки тому

      its important to understand that trading is about winning and losing and there is always risk involved. in some cases, you could more than your initial investment on a trade if not done properly . There are no easy strategies which are going to make you rich over night, as trading is not a 'get rich quick scheme' however through trial and error over time experts like Mr. Wilson have sprung unto the scene with suitable styles and strategies that have proven to work over and over again. Mr. Wilson understands the risk of trading enabling him to reduce losses to next to nothing . if you need help trading either cause you cant or can not make consistent profits i would recommend you contact Mr. Wilson for help, 1917 563 8 3 3 8 , text him on WhatsApp.

  • @simonmcr8476
    @simonmcr8476 4 роки тому

    I have to say thank you for buying my stops and helping me get on with my life! haha. I never see you look at or mention the DOM do you use it ? Thanks.

  • @pipsforex61
    @pipsforex61 4 роки тому +1

    Hai..appreciated u r method and videos...is their any time frame which is equivalent to 2000 ticks as i am unable to find chart ...pls reply. Thanks in advance.

  • @kuyamarcosvlog7179
    @kuyamarcosvlog7179 4 роки тому +2

    Hi Michael, what’s the difference between 2000tick chart vs 1 min chart which is better for trading futures, thanks. I recently downloaded the demo for ninjatrader I can I see why they call it ninja trader. Love your video

    • @christophermckimie755
      @christophermckimie755 4 роки тому +2

      mark rimbaud 2000 tick shows voulme and is a more accurate representation of price action

    • @MichaelChin
      @MichaelChin  4 роки тому

      Thanks for answering Christopher!

    • @ca_life4915
      @ca_life4915 4 роки тому

      @@MichaelChin what made you to apply 2000 tick,, not 3000, etc..?

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      Michael Chin np got your back Michael!😉

    • @vgourza
      @vgourza 4 роки тому

      ​@@ca_life4915 some tool converter may help you do that. With current volatility on ES 1mn/2400 ticks but you can also use 2000 or 2500. it is your own decision

  • @zenshenlim6686
    @zenshenlim6686 4 роки тому +1

    Hi, Michael. May i know if pending order can trigger like market execution ?

  • @deeznitsddy4631
    @deeznitsddy4631 4 роки тому +1

    Hey bro how much capital do you have?If its under 25K how do you avoid the PDT rule?I want to be a scalper but im a bit confused.

  • @ellioellio724
    @ellioellio724 4 роки тому +1

    Hi there Michael - I think I'm gonna enroll in your scalping masterclass over the next few weeks. I'm personally specialized in the dax futures (scalping as well) - with a focus on the combination of heikin-ashi and pivot-points. I'd love to specialize in the S&P and I'm a big fan of price action trading. I could immediately tell by looking at one of your videos that you are a legitimate scalper. I also work during the day and I trade during the morning haha..! however I'm a bit more lucky than you as I can trade from my work computer all day long
    A quick question before I enroll in your masterclass if you don't mind: how did you learn how to trade? would you have some free/affordable learning material/book titles in mind that I could use for price action trading in particular?

    • @christophermckimie755
      @christophermckimie755 4 роки тому +2

      Meinon Chon rayner teo has some great videos on price action

    • @ellioellio724
      @ellioellio724 4 роки тому +1

      @@christophermckimie755 Great thanks, I'll check that out this evening

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      Meinon Chon awesome watch his entire video on Candlesticks the 40 minute one you will learn a lot

    • @MichaelChin
      @MichaelChin  4 роки тому +2

      I learned from other mentors that trade this strategy. I'm not sure about other material that is affordable, but these videos are free and I'll continue to post them

    • @ellioellio724
      @ellioellio724 4 роки тому

      @@MichaelChin okok, well thank you already for your videos - very good work! I hope you survived the crash today. I made 9 points in two trades today but the market was a bloodbath, wow scaring..!

  • @michelangelo3286
    @michelangelo3286 3 роки тому +1

    Are you keep the series going?

    • @andreijikh683
      @andreijikh683 3 роки тому

      THANKS FOR WATCHING.
      Reach out to me directly for your guidance...!!!.:.:.:
      ..W.:h.:a.:t.:s.:p.:p::
      +.:1.:7.:8.:1.:2.:0.:8.:9.:3.:1.:.:.:

  • @justin3900
    @justin3900 4 роки тому +1

    Hey Micheal, can you make a video explaining futures? Thank you in advance.

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      J town futures are contracts that obligate the buyer/seller to buy/sell a contract at a specified price and then delivered and paid for on specified date

    • @hongriku4082
      @hongriku4082 4 роки тому

      ":+13605494304;.

    • @hongriku4082
      @hongriku4082 4 роки тому

      On what's::app

  • @BOPilot5517
    @BOPilot5517 4 роки тому +1

    Michael, do you use OCO orders in TOS?

    • @BOPilot5517
      @BOPilot5517 4 роки тому

      @ I would like to see his setup on it

  • @Trainwhrek
    @Trainwhrek 4 роки тому

    good upload

  • @specsbattle1340
    @specsbattle1340 3 роки тому +1

    no more new videos? hope you doing well Michael.

  • @ultramegaclay
    @ultramegaclay 4 роки тому +1

    Do you pay for the premium features or do you just use the free platform on ninjatrader?

  • @shayanmomeni7369
    @shayanmomeni7369 4 роки тому +1

    hey dude is that possible for someone who works with a CFD account on the platform of MT4? cause it has an unreasonable spread which cost a hand and a leg ?

  • @sickbrain
    @sickbrain 4 роки тому +2

    Can anyone tell if there's a minimum cash account I need to have to avoid being hit with Plattern Day Trader or PDT rule doesn't apply here?

    • @jlmn0
      @jlmn0 4 роки тому

      PDT only applies to stocks and options.

  • @pantac4493
    @pantac4493 4 роки тому +1

    How is your break even or trailing stop configured? I don’t think you had one in your setup tutorial. Reason I ask, I get this weird error sometimes that says I’m trying to sell below or above market forgot exactly, no matter how I set it, even just break even set to 2 plus 1. I’m trying to get it where I’m not losing on commissions. Thanks

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      Pan Tac he sets them up via triggers but they are only available with the purchased software unfortunately

    • @pantac4493
      @pantac4493 4 роки тому

      Christopher McKimie Yes, I also have lifetime license but would like to know if he ran into that problem before and what settings he entered.

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      Pan Tac i believe Michael shows you his trigger setups in his ninja trader secrets video. If not there check out riley colemans video on ninja trader setup btw riley is awesome as well

    • @pantac4493
      @pantac4493 4 роки тому

      Christopher McKimie I don’t think he had a break even trigger or trailing stop in that video. Riley does have it but I’m curios what settings Michael has and if he ever had the error as I described.

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      Pan Tac I see. Sorry I don't know the answer to that try emailing Michael directly

  • @JamespMusic
    @JamespMusic 4 роки тому +2

    Also question, I can’t buy with 2k in a paper money account. I’m not sure why? Shouldn’t it be 500?

    • @FamousFreak33970
      @FamousFreak33970 4 роки тому

      Go educate yourself on "margins" and everything they have to do with contracts, stocks, etc and all your questions will be answered!

    • @Michaelwilliams89033
      @Michaelwilliams89033 3 роки тому

      its important to understand that trading is about winning and losing and there is always risk involved. in some cases, you could more than your initial investment on a trade if not done properly . There are no easy strategies which are going to make you rich over night, as trading is not a 'get rich quick scheme' however through trial and error over time experts like Mr. Wilson have sprung unto the scene with suitable styles and strategies that have proven to work over and over again. Mr. Wilson understands the risk of trading enabling him to reduce losses to next to nothing . if you need help trading either cause you cant or can not make consistent profits i would recommend you contact Mr. Wilson for help, 1917 563 8 3 3 8 , text him on WhatsApp.

  • @thenicofunshowyotube2264
    @thenicofunshowyotube2264 4 роки тому +1

    Awesome videos Michael! Keep up the good work. Any books you would recommend for price action trading?

  • @lqsmilie1068
    @lqsmilie1068 3 роки тому +1

    Noob here. I'm trying to practice with the DEMO account on NinjaTrader but my "Ticks Remaining = 0". Why? Can you only practice on the demo account during regular market hours?

    • @deadnsyde6071
      @deadnsyde6071 3 роки тому

      WRITE MY EXPERT TO HELP YOU MAKE HUGE PROFIT

    • @deadnsyde6071
      @deadnsyde6071 3 роки тому

      🇺🇸 2:0:9:5:8:4:0:8:7:5

  • @Boccione07
    @Boccione07 4 роки тому +2

    Hey Chin, how can you make a 1pt scalp?? There is no spread.

  • @keni2042
    @keni2042 4 роки тому +1

    Were these option trades that you executed?

  • @danielleandrin6213
    @danielleandrin6213 4 роки тому +1

    How many stocks is he buying in order to get $50+ dollars per tick?
    thanks

  • @chey7851
    @chey7851 3 роки тому +1

    Nice video!
    What is your full time Job you doing?

    • @Michaelwilliams89033
      @Michaelwilliams89033 3 роки тому

      its important to understand that trading is about winning and losing and there is always risk involved. in some cases, you could more than your initial investment on a trade if not done properly . There are no easy strategies which are going to make you rich over night, as trading is not a 'get rich quick scheme' however through trial and error over time experts like Mr. Wilson have sprung unto the scene with suitable styles and strategies that have proven to work over and over again. Mr. Wilson understands the risk of trading enabling him to reduce losses to next to nothing . if you need help trading either cause you cant or can not make consistent profits i would recommend you contact Mr. Wilson for help, 1917 563 8 3 3 8 , text him on WhatsApp.

    • @Michaelwilliams89033
      @Michaelwilliams89033 3 роки тому

      forex is good way to make passive income

  • @ryanschmid9945
    @ryanschmid9945 4 роки тому

    Do you trade everyday?

  • @whichbeanie2613
    @whichbeanie2613 4 роки тому +1

    I have all my money on options, is 500$ enough for futures? For each trade you do, how much are you using

  • @herrickinman9303
    @herrickinman9303 3 роки тому +1

    The market isn't moving in "patterns of two." The market is simply alternating between up moves and down moves. If you're not married to the notion that the market likes to move in twos, you might notice that the market tends to move in patterns of 3 legs (=5 waves), with 2-leg (=3 waves) corrections between the odd-numbered waves, especially between the 1st and 3rd waves.

    • @Ballin.Wallin
      @Ballin.Wallin 3 роки тому

      Wouldn't that be the same thing as the two legged trap that he always trades? Basically trading on the 3rd leg or 5th wave after the 4th wave (correction move)? I'm trying to visualize your concept. Lol.

    • @herrickinman9303
      @herrickinman9303 3 роки тому +1

      @@Ballin.Wallin I know what you're saying, but the way I count waves differs significantly from the way he counts legs.
      A wave is the price move from a swing low up to a swing high or from a swing high down to a swing low. I look for certain sequences of 5 waves in order to anticipate a trend reversal. A wave can subdivide into smaller waves. A 3-wave pullback usually forms the 2nd wave of a 5-wave uptrend or downtrend. The swings that terminate the 2nd and 4th waves, together with the swing that terminates the 1st wave, determine a channel. The 5-wave market structure is what forms channels, wedges and triangles. The moves I look to day trade are much larger than 4 ticks and the reward-to-risk ratio is at least 1, often >=2.
      Based on the way he identifies 2-legged pullbacks in the videos in this series, it's apparent that his 2-legged pullback is literally ANY sequence of 3 consecutive legs. It follows that (1) every leg is the 3rd leg of a 2-legged pullback, (2) there's no such thing as a 1-legged pullback and (3) since every leg is the 3rd leg of a 2-legged pullback, there's no need to identify the 1st and 2nd legs of a 2-legged pullback. (Even what might be deemed a 1-legged pullback on a 2000-tick chart will likely subdivide into 3 legs on, say, a 1000-tick chart. Either way you look at it, there's no such thing as a 1-legged pullback.)
      If the leg that follows a 2-legged pullback does not move far enough to allow a 1-point scalp before getting stopped out, he then calls that 2-legged pullback a 2-legged trap. From the context, he tries to anticipate whether the leg that will follow a so-called 2-legged pullback will move far enough to scalp a 1-point profit. But he could do that without looking for 2-legged pullbacks. What he's really looking for is a higher low or a lower high or a test of support or resistance, trend direction and momentum.. But he complicates that unnecessarily by trying to explain every trading decision in terms of the naive notion that the market supposedly likes to move in twos.

    • @Ballin.Wallin
      @Ballin.Wallin 3 роки тому

      @@herrickinman9303 Ahh I see. And that's part of the problem I am having right now. Lol. I'm fairly new to this. I was doing really well with the simulation for a couple months but now that I am live trading with the difficulty getting my orders filled when the candle stick hits my profit target before reversing and my mistakes I'm making every once in a while placing trades in the wrong spots I keep having issues just like you explained and chewing into my profits.
      I think that's part of what I am missing is identifying when exactly to take the moves not just based on the two legged moves. I'm trying to go with trends but I think there is something I'm not reading correctly at times. I like the way you explained it. I wish I could see a video demonstration or something to help me comprehend it. I think I need to grasp everything after you said "what he's really looking for" better and how to use your 5 wave method to anticipate trends and reversals.

    • @herrickinman9303
      @herrickinman9303 3 роки тому

      @@Ballin.Wallin Yes, there can be execution problems. The 2LPB strategy requires entering on or after the 1-tick transition to the next leg. If you use a limit order to enter, you might not get filled. If you use a stop order to enter, you'll get filled, but you might not get a good price.
      Another problem that is never mentioned: There are delays you cannot control. How much delay is there between the time a tick displays on your screen and the time it actually traded on the Globex? 5 seconds? 10 seconds? How many hops does it take for a data packet to travel from the exchange to your data vendor to your ISP to your computer? And once the data reaches your computer, how long does it take your charting program to process the incoming data and display it on your screen? I've seen the ES move 5 or 10 points in just a few seconds. There are times when ES is so volatile that even if you nailed the entry to within a tick and ES moves 1 or more points in your favor, your stop loss will get hit before your profit-taking limit order is hit.
      How long does it take for your order to reach the Globex, get executed and get confirmed to your charting program?
      In addition to execution problems, there are also problems with the concept of a 2-legged pullback. Since a 2-legged pullback is any sequence of 3 consecutive legs, if follows that every leg is the 2nd pullback of a 2-legged pullback. Furthermore, every 2-legged pullback is potentially a 2-legged trap.
      The 2LPB scalping strategy risks 2X points to make X points. Without runners, you'll need 67% winners JUST TO BREAK EVEN. Successful runners are essential to make the strategy work. You should not regard a runner as a mere "gift" from the market.

    • @Ballin.Wallin
      @Ballin.Wallin 3 роки тому

      @@herrickinman9303 So how exactly do you trade differently than his strategy using your different views on the waves?

  • @extrinsicvaluegera610
    @extrinsicvaluegera610 4 роки тому +1

    What study is the red and green arrows?

    • @sickbrain
      @sickbrain 4 роки тому

      It's probably scalper alert. In Thinkorswim the name of the study is TTM_ScalperAlert

  • @Light00000
    @Light00000 4 роки тому

    In Bear or Bull season,
    The Trapdoor Spider Michael Chin always remains huh.🤣🤫🙈

  • @jaydog7024
    @jaydog7024 4 роки тому +3

    Hey Michael. Thank you for sharing this strategy. I’m curious why you don’t use this as your primary source of income. Seems like making $500-$2k per day is completely possible.

    • @MichaelChin
      @MichaelChin  4 роки тому +2

      It definitely can be, but I'm happy where I'm at right now. Money isn't everything

    • @jaydog7024
      @jaydog7024 4 роки тому +1

      @@MichaelChin That's very true. Good to know you believe this could be a source of significant income. So far in the simulator this week, I've been able to sit down and easily generate hundreds, and in some case thousands of dollars. That being said, when I'm not being careful with my entries, I can quickly lose money too, thankful for NinjaTrader's ATM system with target and stop orders getting placed.

  • @seb1586
    @seb1586 4 роки тому +1

    HELLO MICHAEL. NEW SUBSCRIBER HERE! I'VE BEEN WONDERING WHY MY NT8 HAS DIFFERENT CANDLE STICKS COMPARE TO YOURS? I SET UP MY CHART ON 2000 TICK SAME AS YOURS? WHAT COULD POSSIBLY THE REASON? CHEERS

    • @christophermckimie755
      @christophermckimie755 4 роки тому +1

      SE B Michael may have his setup differently than the default on NT8. Double click a candlestick and you can edit yours as well

    • @seb1586
      @seb1586 4 роки тому

      Christopher McKimie thank you I appreciate your reply

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      SE B youre welcome hope it helps

  • @feboogi
    @feboogi 3 роки тому

    Michael smiles in his sleep 💤

    • @andreijikh683
      @andreijikh683 3 роки тому

      THANKS FOR WATCHING.
      Reach out to me directly for your guidance...!!!.:.:.:
      ..W.:h.:a.:t.:s.:p.:p::
      +.:1.:7.:8.:1.:2.:0.:8.:9.:3.:1.:.:.:

  • @johnk4412
    @johnk4412 4 роки тому +1

    Thank you for teaching this, I have learned so much. Can you or anyone inform me about a futures broker who will allow customers to trade in high volatility? How can I get any work done now? Zip.

  • @jmr827
    @jmr827 4 роки тому +1

    What are the red arrows at the top of the candles? Also, why 2000 tick chart vs others?

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      Jonathan Rouffe those are the Pullbacks..tick charts show volume also instead of just direction

    • @MichaelChin
      @MichaelChin  4 роки тому +1

      I have found the 2000 tick chart to be the most reliable timeframe for this strategy

    • @jmr827
      @jmr827 4 роки тому

      Christopher McKimie ... is there a software that makes this red arrows appear?

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      Jonathan Rouffe not sure but its a default setting on ninja trader

  • @raed4914
    @raed4914 4 роки тому +1

    Your really has a great strategy but one thing about your stop loss it’s too far 2 point why you don’t do it like one point could explain that thanks

    • @christophermckimie755
      @christophermckimie755 4 роки тому +2

      raed bc one point stop losses are a lot quicker to get stopped out before reversing in his favor

  • @michaelblack1925
    @michaelblack1925 3 роки тому

    I've watched two videos now you mention the Facebook trading group but never mentioned the name what's the name so I can join it

    • @andreijikh683
      @andreijikh683 3 роки тому

      THANKS FOR WATCHING.
      Reach out to me directly for your guidance...!!!.:.:.:
      ..W.:h.:a.:t.:s.:p.:p::
      +.:1.:7.:8.:1.:2.:0.:8.:9.:3.:1.:.:.:

  • @DK-ki2fh
    @DK-ki2fh 4 роки тому +1

    Also, what do you do for work? What is your day job?

    • @DK-ki2fh
      @DK-ki2fh 4 роки тому

      @Humphery stephen First of all, fix your spelling. Second, what's your site?

    • @christophermckimie755
      @christophermckimie755 4 роки тому +1

      D K careful that guy said ninja trader commisions are high while that is simply not true so he has his facts distorted

    • @DK-ki2fh
      @DK-ki2fh 4 роки тому

      @@christophermckimie755 Are you talking about Chin or this Humphery guy?

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      D K humphrey

    • @gmailcom253
      @gmailcom253 4 роки тому

      @@DK-ki2fh *Christopher* *Mckimie* is just a scam he wants you to invest in his scam platform...I see all his comment on other forex UA-cam channel he's just here to criticize other traders for his selfish benefits... I know *Humphery* *Stephen* very well and I've been very profitable trading with his broker platform

  • @s1kor
    @s1kor 2 роки тому +1

    👍

  • @megamindtaylor6728
    @megamindtaylor6728 4 роки тому

    Did you chose to own or to lease the NinjaTrader Platform?

    • @christophermckimie755
      @christophermckimie755 4 роки тому

      Megamind Taylor Michael owns the lifetime software. Less commisions overall higher startup price and provides more tools such as triggers and the active trader tab

    • @danielmills8440
      @danielmills8440 4 роки тому

      On what's;app

    • @danielmills8440
      @danielmills8440 4 роки тому

      :;+1(360)-549-4304:;

  • @personalizedstamps6326
    @personalizedstamps6326 4 роки тому +1

    Does anyone know how to add that box at the bottom left corner of the NinjaTrader window? The box showing the total PNL for the trading session?

  • @chasegonzales_
    @chasegonzales_ 4 роки тому +1

    Hey Michael quick question, I’ve been back testing this strategy and it’s been going amazing. Only thing is I want to start investing my real money and all I have is 1k at the moment. Is that enough to start trading these mini futures? How much does 1 of the contracts cost? Is it the price point that it’s currently at? Sorry for all the questions I just want to be sure about how much I would be able to buy because I know you trade 4 at a time🙏🏼 thank you man