Day Trading Micro E-Minis: What Makes a Good Trading Setup that Wins
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- Опубліковано 24 вер 2024
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Learn to use winning trade setups. Day trading Micro E-minis is all about reading MACD setups for trading. This video teaches the guidelines for successful trade signal indicators. Learn to adjust your expectations to realistic goals in Day Trading.
Don A. Singletary teaches Micro E-Mini futures trading for S&P500, NASDAQ100, DJIA, and Russell 2000 indexes. This Day Trading channel teaches beginner futures traders with an introduction on trading strategies using easy-to-follow tactics with an emphasis on selecting for small accounts. Learn to practice trade before risking real cash and learn to identify lower risk trades. There is an emphasis on selecting day trading strategies using MACD, candlestick charts, scalping techniques and the use of stop loss orders to place live day trade orders for extra income.
Learning to trade the 1/10th size Micro Eminis can help investors learn how to protect capital while learning winning strategies for extra income, fun, and you gain a valuable skill set to day trading futures that you can use the rest of your life. Special Beginners Playlist with live trades for micro eminis will instruct and easy and fast way to learn to trade futures without all the get-rich-quick hype. Just real strategies that are inexpensive and explained step-by-step.
Welcome to the channel that quickly gathered over 10,000 subscribers quickly to learn these easy methods to learn day trading futures equity index futures. A high leverage and higher risk form of trading that can rival the excitement of the casino experience. This trading is not for everyone, not for retirement, college funds, or other more conservative type traders - but for those who can afford to allot some small segment of their funds to use in a higher risk / higher return method of day trading futures.
After watching a lot of your videos. I watch the market and make mental trades in my head and i can say i look at it now with more understanding and am looking forward to doing it with real money soon. Thank you for your videos.
Bentley - This is tricky trading for sure. #1 mistake of beginners is overtrading. Use a simulator and practice finding trades, keep some notes so you can identify improvements.
*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
@@DayTradingMicroFutures this makes sense to me. Nobody else could make it make sense that I’ve listened to. I’m not planning on trading until i see my A+ setup. I’ve been watching it most of the day and i saw 1 setup but didn’t trade anything just watched it.
Don, I would have seen several videos by several experts. Let me tell you that yours is the most easy yet most comprehensive picture one can get. Thanks for providing such great insight. Your audience are blessed. I wish I had seen your video earlier.
Wow, thanks! You made my day Prakash; thank you so very much my friend.- Don
Just received your book and am on page 4, but most of all wanted to support you with my book purchase. I’ve learned so much from your videos and want to support you any time I can!!!! Thank you Don. Not ready to trade yet but hoping soon.
Wow, thank you. You made my day Dwane. Welcome to the channel. Thanks friend. stay well.
I started trading futures end of Feb 2020 and this is where I am.
How many trades per day? Maximum of 3, Minimum of 1
How many days per week? Minimum of 2, Maximum of 5. I don't trade Sunday.
What win-rate do you expect? 50-60%
How much do you expect to make? Max loss $16 (8points), Minimum win $32 (16 points) per MNQ contract.
How long is a trade supposed to last? Most of my trades don't last more than 5 min, some go as long as 15min
How do you feel when you trade with a profit? I feel good.
How do you feel when you loose money on a trade? I don't feel good but I understand it's part of trading. I never let my losers run past my max loss.
Have you practised enough to answer these questions? I think so
Do you have confidence or are you afraid to trade? I have more confidence than fear. It was not always this way. Having a strategy I feel good about has helped immensely.
Thomas, sounds like you have put a lot of thought into your trading. I wish you all the best my friend. Welcome to the channel. - don
Thomas, I'm guessing you use a stop loss set at 8 points. Do you use any type of indicator such as ATR to determine this or is it your hard fast rule not to risk more than 8 points? Thanks.
Ed B It’s a hard stop based on my account size. I’m using the 1% rule per trade.
@@thomasmwangi8136 Would you mind sharing your actual win rate and risk/reward ratio? Thanks, Thomas.
Ed B My r/r is 2:1 and my win rate is about 56%
This video is especially valuable for those who are brand new to trading. The public at large has a built in buy side bias largely instilled by the media. Traders can profit in both up and down markets.
Welcome to the channel; thank you for your comment.
Mr. Singletary..., Thx a Ton for adding the “Dates” during your Chart & Trade Analysis.
Comments appreciated, James. TY
I have watched half of your videos and have learned so much. I purchased your book today. You are a gentleman and a scholar. I believe i have found the best path to begin my trading journey, thanks for sharing your passion and knowledge with your viewers.
Wow, thank you! Roger, you made my day my friend. Thank you.
Excellent, book arrives tomorrow.... Thanks !
Wonderful!
Don! Your videos are one of a kind and have helped me a lot. Please keep them coming, please!
Welcome to the channel. Thank you - Don
Thanks Coach Don. I really appreciate your videos.
Thanks Charlie. stay well
Don, I started trading the Micro E-Minis a couple of months ago with reasonable success. I then started to modify the strategy throwing discipline out the window. I don't need to tell you the result. I've returned to paper trading for a two week period in an effort to regain the discipline I once had. Your comments concerning trading is largely what happens "between your ears" couldn't be more accurate. Thanks for the videos and please keep up the good work.
Thank you, ,Ed. Sounds like you have a great start. I appreciate your enthusiasm, WTG.
Thanks so much, Don. I've been learning futures a step at a time and your reminders are things I keep in mind, especially the part about cutting my losses. Apparently I still struggle with that more than I should. However, last night I was able to mostly recover from a bad stock trade by keeping a cool head and doing some patient futures trading. I am abroad so globex is the bulk of my trading time. Thanks again for the content and clear explanations -- and don't worry, while I do gain insight and help from you, my success or failure is on my shoulders, not yours!
Brandon. Thank you for you kind note. Stay well my friend. I wish you all the best - don
Do you usually wait for the entry candle to
Close or soon as it passes the previous candle you enter? Seems to me it’s safer to wait for that candle to
Close beforehand?
@@wot3ver I wait for candle to close, most certainly. good point thank you.
Proud owner of the hard copy version of your book! I appreciate you Don, Thanks!!!
Very welcome Supe Welcome to the channel.
Literally exactly what I was looking for.
IVWord: Thank you.
Here's a couple of my recent videos:
ua-cam.com/video/kUr-kGiuGvk/v-deo.html
and: ua-cam.com/video/2wx8eXBbv6I/v-deo.html
And you can check out my book's table of contents at the "Look Inside" link on this page: bit.ly/daytrademicros
Let me know how things go for you. Good luck- Don
Thanks Don. Your videos are so right on, and easy to follow. I just started practice trading in my futures account the other day. I followed the MACD and was able get in at a very good number. At one point I was up about $260 with only 2 contracts. I watched my profit go down to $29.00 before I pulled the plug. I stayed in the position just to see how quickly I could lose a profit. LOL I don't really know the lesson there other than to always take that profit off the table. In my real account I would have been out of that trade. I really looking forward to growing my live account with your set up.I Can't wait for your book to arrive so I can study even more. Again thanks so much for posting these training videos. Simply the best.
Very good, MrNathan. Yes, those profits can zip away really fast! You did very well. Be careful out there and I know you will when the money gets real! thanks
Thanks Don! I've watched every video and just bought the book. Have been doing some back testing and hoping to start trading live this week.
Best of luck! Stay well.
Thanks Don.I have learn a lot from your teaching. Thanks 👍👍👍
Glad to hear it
I also just bought the book. Can’t wait!
Great Eric. I really appreciate that. You have a great weekend my friend. - Don
Definitely a simple strategy
Hello Greg - Welcome to the channel. Beware, this type of trading *looks a LOT easier than it actually is*. Use a demo account (see link below, no credit card, required) and be sure to practice the same size trades as you will begin with real money (usually 1 contracts trades).
\ Here are some links to help you 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
*TastyTrade*- the broker I use in the video on the channel -- is offering *BONUS CASH for new signups* now. Check out the the details at this link: bit.ly/TastyBonus
✅ **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
*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
Thank you Don.
great Tom, thanks
Watching your videos with interest just playing around seriously with a paper account already have done the wrong things you mentioned revenge traded risks too much after a loss etc, etc. Now I’m really gonna stick to your plan and not feel I have to always trade even when there’s not a good setup present
Philip: It is great you are able to experience those things in practice --- and I think a sign that you are ready to get serious. I urge everyone (and do it often) to know that this type of trading is very *unlike other types of trading.* Day-trading the equity index futures (the Micro E-Minis in this case) is NOT similar to option and stock trading. As you explore the videos, you will discover that most of the winning trades profit from $15 to $50 and only last between 3 and 10 minutes. That is trading only ONE micro emini futures contract. I trade mostly (95%) the MNQ and the MES; the main difference between the two is that the MNQ has NO financial sector stocks in it. And the S&P500 Micro is a broader based (500 stocks while MNQ is 100 stocks.) Think of the MNQ as 'the tech stocks.'
A great many of the trades are in-and-out in as little as 3 to 5 minutes. Learn to do this trading and when you have experience and an amount of confidence that follows that experience - in order to scale up... no need to trade differently but merely increase the number of contracts. Start with ONE contract for affordable trading--- and when you scale up to trading 2, then 3..... and so on. Adding more contracts is the way to increase profits (not trying to stretch the one contract trades to more per trade.) Thinking of it this way allows the trader to trade the same way with 4 contracts as they did with 1, 2, or 3 contracts.
I made a video about this recently, here's the link: ua-cam.com/video/ygKnR2x8mG4/v-deo.htmlsi=Gsk2Yb-tJXt-Fyzr
If asked, "what are the two most common mistakes in micro emini day trading?" watch this video for my answer: ua-cam.com/video/9GIfxs27H3c/v-deo.html
Of those 'two most common mistakes' the biggest culprit is OVER TRADING. So how many trades per day? For both begginners and experienced traders: If you are placing more than 3 trades per day, you are almost certainly over-trading.
There is a very simple answer as to 'why this is true.': Day Trading micros has a win/loss of about 60%/40% over the long haul - and that's even if you are a good trader. You will have runs of good and bad luck but for the long-haul it's going to be very close to 60/40. You will see the trades here on the channel. I do NOT strive for a higher win rate, instead I emphasize reducing risk at all times during the trade (by aggressively using my stop-market (aka: stop-loss) order. A consistent win rate of over about 60% is a goal that will be like throwing money down the well.
When you learn to make $20 to $40 a day consistently to turn it into $40 to $80 per day.. .just trade two contracts instead of one. White-knuckle jet pilot trading and looking for a set formula to use as 'rinse, wash, repeat' is a quick way to blow up your account. You must learn to control yourself, successful trading happens 'between your ears' ---- The info I've mentioned here is the key to trading the micros... most beginners (and I have seen thousands fo them) will not heed this advice-- and that is precisely why most day traders will fail at this very risky type of trading. Learning to 'click a mouse' to make money is one of the most fun ways to trade and a really neat skill to develop; just remember blowing up your account will give you an adrenaline rush but it will NOT be fun at all.
In more than a couple of videos I use this analogy: Pretend like you live in the wild Alaska bush and you only eat what you can kill --- AND you only have 3 bullets a week! This means that 90% of the time you are 'at the screen', you will NOT be in a trade. The goal is for one to learn to be a good trader for only 1 to 5 minutes a day in order to make some money ----- and even then you will have losing days.
I'm out of time for now... so I'll say good luck and have fun with this things (and that means you MUST trade profitably.)
There is a link to a free trade simulation program in the description text of all 170+ videos here on the channel.- Don
Great Video. I have watched all of them and purchased your book. I have been practicing in the simulator and I am doing great. Thanks
Great job! Thanks Retnuh. All the best to you and yours. Stay well.
Dipping my feet into futures, appreciate the videos!
You bet! Welcome to the channel. Here's a link to my most recent videos:
bit.ly/PlayListNumber3
Super informative- Thank you
Very welcome. Glad you find the channel helpful and good luck to you- Don
What a great video, thank you! I just subscribed. Very informative and helpful.
Welcome to the channel and good luck to you.
Excellent training video! I appreciate your relaxed and very informative style of teaching. Thank you Don. I'm going to to head over and get your book right now.
Glad it was helpful! And I appreciate you getting my book as that supports this channel. Nice of you to send the kind comments.. makes my day. Thank you. - Don
Thank you for the videos, I'm fascinated by trading, and really enjoying learning about futures from you as I try to find a trading instrument to learn and start with. I have read, "Don't trade unless you have an edge." "You have to find an edge." But I really don't know what an "edge" is, it always seems kind of nebulous. Is it the use of the MACD and RSI indicators and how you use the crossovers? Is that you're "edge" ?
The system with 'the edge' you speak of is a false narrative. I, like everyone else who performs this type of trading - will lose about 40% of my trades and win between 55 to 60% on the average. This is a risky type of trading and not suitable for everyone. I repeat this over and over in my videos. In my book and videos I urge newbies to this type of trading use a trade simulator and to trade in the same dollar amount risk which they will be trading with real money. For more insight, you can check out this playlist: bit.ly/PlayListNumber3
There is no 'plug and play' formula/method for easy money and fast profits. Ramping up peoples hopes that they will find 'easy money' without any study or practice doesn't help anyone. This trading is very risky and not suitable for everyone. Not everyone agrees with me, and that's ok. In my book one chapter has a heading "There is no such thing as an infallible trading system." That is in the chapter on trade psychology. I wish you the best of luck and thank you for comment/question. - Don
✅ **BOOK** : Almost 400 FIVE-STAR Reviews - Join thousands who have use this book to get a fast start: Check out the Amazon listing (free Prime shipping) at this link: bit.ly/daytrademicros
An EDGE is nothing more than an indication of a higher probability of one thing happening over another. But this indication comes from a development of your skill set in reading price action based on understanding market structure. Study context, NOT form.
Thanks, Don. I just bought your book. Learning quite a bit.
Awesome, thank you! Welcome to the channel Rick.
Thank you for making these videos and the book! Ive seen and read it all now. My trading has turned around and the steady climb has begun. Next will be adding position size. Its a great feeling!
Great job! Zeb. Be careful out there and stay well my friend. You made my day.
Thank you for the great examples.
Glad it was helpful! stay well and thank you.
Hi Don. I hate to nitpick, but I wanted to ask. At 15:45 of video you didn't consider it a BUY signal because the RSI was only at 8.83, "not strong," I believe said. Of course, you mentioned it's subjective. Then at 18:55 you got a SELL signal but the RSI was approximately at -2.5, 7:00 AM, which to me is not very strong either. (This was during the Globex session.) Not to mention the green bar chart was generally level in negative territory since about 6:15 AM. So my question, why was first signal (buy) not strong enough, but the second signal (sell) strong enough to commit??
Kenneth,
Honestly I don't recall the exact thinking at that moment or the entire context.
It could have been context. There are times in after hours (Globex) trading of lower volume and volatility and it could have been the R in RSI was taken subjectively rather than a matter of an exact mathematical solution of the absolute value of the RSI.
You very astutely, bring up a concern we all wrestle with in trading, that there is not method to shore up all risk and chance. I have no way to know how many of my videos you have seen here on the channel of course, but I never claim to have a totally formulated solution, quite the opposite in fact. And there is a very good reason for that: It doesn't exist.
I borrowed an argument from a recognizable name to make this point in my book in the Trading Psychology Chapter:
***********excerpt**********:
Stephen Hawking said he thought that indeed it might be possible to travel to the future in time but that going back in time was impossible. When asked why he believed going back in time is impossible. He simply replied, “Because there is no one here from the future.” So I will take a chapter from Hawking’s book and tell you that if it is possible to have a set of trading rules that would prevent all losses, then someone would have already done it. I am saying that out of millions who have tried, no one ever has. If you think you will be the first, good luck to you. When you change your thinking about trading, you will change your trading. Until then, you are playing checkers. You will be like the guy who says he will never stop smoking because he’s not a quitter. ***********end of excerpt***********
In a recent video: I inserted a picture of six surfers on the beach with their boards and running into the water to ride the waves- and then said, "Even though they have the same equipment and the same beach and water - their next ride will be a completely different experience for each of them." This is how trading is, as most of it happens "between the ears."
I appreciate your very astute question. Thank you. And now I will shamelessly plug my book- as those sales support this channel of free videos. Thank you again. Stay well. -
Don
Day Trading the Micro Futures is in paperback and ebook at this link: www.amazon.com/dp/169897941X
www.amazon.com/dp/169897941X
So helpful - thanks!
You're so welcome!
Thank you so much for sharing!!
You bet! Welcome to the channel, Kristin. Please consider my book on this type of trading, the Day Trade Micro E-Minis. You can see the Table of Contents at the "Look Inside" tab on this page: www.amazon.com/dp/169897941X
And if you are a beginner, I have two Playlist at these links:
✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
OVER 45 VIDEOS ALL USING MICRO E-MINI: SUBSCRIBE TO THIS CHANNEL: Get notified of new videos here: ua-cam.com/channels/3WzyRqTuFn2iBjBPu-D6HA.html
Good Luck to you, Kristin. - Don Singletary
Thanks a million Don! Keep the videos rolling!
Will do! Good luck Patrick. Your kind comment is very much appreciated. Thank you my friend.
Great job that helps beginners
Glad you think so! Here's a playlist with my most recent trading videos:
bit.ly/PlayListNumber3
and:
✅ **BOOK** : Over 400 FIVE-STAR Reviews - Join thousands who have use this book to get a fast start: Check out the Amazon listing (free Prime shipping) at this link: bit.ly/daytrademicros
Welcome to the channel Biren and good luck to you - Don
Hi Don. Like ur videos. You have the " the friendly uncle" persona.
Do u ever give in person seminars for traders to attend?
Greetings Mrl76,
Glad to hear from you and welcome to the channel.. Doing the seminars is an appealing idea although I don't have any plans for that at present. I am building two video courses that I plan to offer by mid-summer this year. If you have my book, send me an email at the address in there and when I have them, I'll let you know when they are available. Good luck to you - Don
Wonderful info 👍😊
Glad you think so!
So,thanks...watch your videos all the time.Any chance of your doin the same for Think or Swim or TD Ameritrade?Your explanations and videos are much better than theirs!
I used TOS for many years, but it is harder to learn and use for beginners than TastyWorks. The 'see it, click it, trade it' on TW plus the drag-and-drop stop loss just make learning it a lot easier. TW has many modes to enter and manage trades; I only show the ones with the simplest set up. I respect that not everyone would always agree with me. I really agree that many brokers software and just about all of the 'traders on UA-cam' really don't cater to first-time traders -- so that's something that I wanted to do here on the channel.
TW is world famous for low option commissions and has some of the very best option analyzer charting abilities anywhere - Here on the channel, it's all about trading the Micro E-minis and I make a special effort not to make it as complicated as others often do.
While trading does have its own jargon --- the principles are actually simple-- and it just isn't the 'rocket science'. There's no need for beginners to pay hundreds or thousands of dollars; it really isn't that complicated.
You may have noticed on the channel here, I don't discuss multiple products and advanced strategies that beginners won't use for a long time. Also I use a consistent set up with 5m candlesticks, MACD 12, 26, 9 (the defaults). People cannot learn by switching setups and bouncing from one 'method' to the other--- always looking for the carrot on a stick that's always in sight but unobtainable.
I really appreciate your kind words and I'm glad you enjoy the videos, Carl. Thank you and good luck my friend. - Don
Hi I love your videos I’m just getting in to futures myself was wondering what chart your using for the teaching
Hello David. I use the TastyTrade (formerly TastyWorks) in all my trading and videos here on the channel. I enjoy using the mouse to change modify orders right on top of the 5m candlestick chart. Here's a video, my most recent, that features that: ua-cam.com/video/agY0sv-paOI/v-deo.html
Welcome to the channel, trading the Micro E-Minis is a very affordable way to trade index futures; they are smaller 1/10th size so are a great way to learn to trade without having to risk a lot.
Here's the most popular video on the channel over the last year (it's longer than most of the video here on the channel - about 30m but it displays some good examples of this type of trading. ua-cam.com/video/7YWZMJ2x5m0/v-deo.html
This one is the most popular video so far this year: ua-cam.com/video/9GIfxs27H3c/v-deo.html
hope that helps and good luck to you - Don
You know I've never heard you talk about the entry. Yes, when the lines cross but that example above is showing quite a few bars passed where the lines crossed. Whats the entry trigger? Which bar and why?
It a matter of context: volatility of the day, daily trend, news like earnings, FED meeting, unemployment reports, and more. If it were possible to have a fixed/ dead set math formula, we could all just print money everyday, eh? Most of trading happens 'between the ears'. I have a great chapter on Trading Psychology in my book; you can check out the table of contents on this page, just go to the "Look Inside" feature: www.amazon.com/dp/169897941X Welcome to the channel. If you are one of the many following 'technical purist,' who believe in 'formula trading', you might find some relief in the approach on the channel here. I hope you find something you can use to your advantage. Good luck and stay well. - Don
Thx for the vids don! Very informative! Quick question... what are ur macd settings?
Welcome to the channel Joe. Answer: defaults: MACD(12,26,9)
Good luck to you . Please check out the Table of Contents to my Micro E-mini book on Amazon (see the "Look Inside") www.amazon.com/dp/169897941X
Stay well and good luck to you.
I’m super early stages learning and I’m confused about what’s happening when the price is dropping. You show a sell and a buy and say you made money aee you meaning this is a future you owned from the day before kept overnight and after market open later sold at the sell indicator and purchased again at a lower price point once the lower pane indicates return of upward momentum?
My daughter-in-law a BIG OHIO fan- and she had the week off..... now to your question:
You know all about buy LOW and sell HIGH - keep the difference is your profit.
There is also what is call a short sell. This is when the trader sells HIGH and then buy the futures back at a LOWER price and keeps the difference as profit..
Here is a link to a portion of a video on the channel here that explains it better: ua-cam.com/video/gdrPA9KMEcc/v-deo.html
So going LONG or 'going SHORT' (the short sell).
Here are some links to help you 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
*TastyTrade*- the broker I use in the video on the channel -- is offering *BONUS CASH for new signups* now. Check out the the details at this link: bit.ly/TastyBonus
✅ **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
*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
Don, can you explain why you prefer to only buy above the zero line and sell below? Many others claim you should buy crossovers below the zero line and sell crossovers above the zero line.
Sure, Phil. In the video under which you posted this comment, I explained that the right margin scale of the MACD / 5m I use is a Relative Strength Indicator. It's scale consists of a zero line- and positive is more bullish and negative is more bearish momentum. My decision to wait until there is a signal-crossover either above or below that zero line is a relatively conservative strategy. Of course I supply my 'rules' only as guidelines - and what 'many others' do is up to their own experiences and preferences. You certainly can do your own trials in practice trading to find what works best for you. Good luck with that. Stay well.
‘exit stage left’ made me LOL
Nice! Thanks Michael. I have noticed that many philosophers are ex-day-traders😃 welcome to the channel and best of luck to you. - Don
Except that he exited stage right!
👍
Thanks for the very fine videos.
Glad you like them, Harvey. Here's a recent video called "Scalping 2.0" ua-cam.com/video/S1-6KAW9mL8/v-deo.html
Good luck and stay well. - Don
✅ BOOK: Learn faster & easier. See the Table of Contents at the "LOOK INSIDE" tab on this page: www.amazon.com/dp/169897941X
thanks Sir
Thank you; stay well.
Hi Don, Love your channel.. Can you tell me which video has your Tastyworks set up so I can upload it to account? Thank you.
Sure Richard:
Download the MicroSetup file here.
1) click this link: bit.ly/MicroSetup
(It is a zipped file and your PC may ask you if it's ok to download the file.)
2) Be sure to note where the file is saved. click to open it. (you may need to 'unzip' it to get "MicroSetup.twchart")
3) Then install it as illustrated in the video.
If you get the file and not sure how to install it, call TW customer service and ask them "how to install a "twchart" file." ( TW phone for cust service: (888) 247-1963
The link to that video is here: ua-cam.com/video/DJkmVgL5mCw/v-deo.html
And here's another video that shows you how to manually change things: ua-cam.com/video/_x-oqxZ2yO4/v-deo.html
For anyone wishing to see the table of contents of my book, just go to this link, and go to the "Look Inside" tab: bit.ly/daytrademicros
Good luck to you - Don
or here:
✅ **BOOK** : The most Organized and Fast Way to Learn to Trade the Micros: Thousands of new Micro traders have used my book for a fast and organized tour of trading the Micros. You can see the Table-Of-Contents at the "look inside" tab on this page: bit.ly/daytrademicros In paperback and eBook, free Prime shipping.
Learn to trade the micro emini futures using TastyWorks or your favorite broker. A much higher leverage than stocks trading. You'll see the differences between trading the micro emini vs emini. As discussed on TastyTrade, this is a great new side hustle for Day Traders everywhere.
👍You can be practicing in only 5 minutes.
✅ Here is a FREE TRADE SIMULATOR with no ads and that will keep your trade ledger for you. It is FREE for signing up (no credit card or personal info required) at the CME (Chicago Merc Exchange) at this link: bit.ly/TradeSimulatorFREE
***FREE TRADING SIMULATOR***
Three Steps to Get Started Learning to Trade the Micros:
✅ BROKER: This is the exact same software I use on this channel. Free software. Free Data Feeds. Low Commissions. Free money transfers in/out of your bank. Very low commissions, no robot help lines, just real live smart people ready to help you.
✅Just fill out the account application, no deposit or credit card required - and you do not have to fund your account until you are ready. For account type select "The Works" - and you will have an account for trading the Micros. When your application is approved: Just fund your account and you are reading to begin trading real time.
✅Use the FREE TRADE SIMULATOR until your TastyWorks account is ready.
bit.ly/TradeSimulatorFREE
✅ Fill out your TastyWorks application at this, my affiliate link: bit.ly/2ZUYjtS 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.
✅ Rule #1: bit.ly/RuleNumber1
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
✅ Here's the video on GLOBEX, the hours plus the how and why: ua-cam.com/video/5fV_EFRuwDg/v-deo.html
✅ 100% Live Trade Playlist: bit.ly/LiveTradePlaylist Fill out the TW application and ask for "the works" so you will be able to Day Trade the Micros when you are ready. You do NOT fund the account, just get your application ready: bit.ly/2ZUYjtS
Welcome to the channel. You get 100+ free videos and if you join our more than 10K subscribers, you'll be notified each week as new videos are posted.
✅ Subscribe Now: ua-cam.com/channels/3WzyRqTuFn2iBjBPu-D6HA.html
Terrific! Thanks
welcome to the channel FAS:
✅ BOOK: Easier Faster Way to Learn: bit.ly/daytrademicros
✅ BROKER: Read about exact software I use on the Channel: ua-cam.com/video/DJkmVgL5mCw/v-deo.html
✅ 100% Live Trade Playlist: bit.ly/LiveTradePlaylist
✅ SUBSCRIBE TO THIS CHANNEL: So you won't miss any videos, get notifications: Get notified of new videos here: ua-cam.com/channels/3WzyRqTuFn2iBjBPu-D6HA.html
✅Using Stop Loss to Create "Free" Trades. ua-cam.com/video/pUvrBM9j5t0/v-deo.html
TWO BEGINNER'S PLAYLISTS: Each has 4 videos about ten minutes long each. (each list has 4 ten-minute videos)
✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
Thanks Don for doing this videos; they are a great complement to TastyTrade's content. Is there a reason you use 5min for chart intervals instead of 1min? Is it a personal preference or is there a technical benefit?
Interesting question, Michael. Yes, there are reasons I choose the 5m increment. It is more conservative and generates less 'noise' (aka: false signals for example.) Beginners often think that MACD is MACD and that there is little difference between both the settings (26.12.9) and/or the time increment selected. Each of these variations produce very different signals. For example: In canines: A German Shepard dog and a Rat Terrier are very, very different animals, but both are dogs. "Not all dogs are alike just because they are dogs." Not everyone cares or needs to indulge themselves in the math of MACD composition, so just suffice it to say the settings make a LOT of difference. Another common misconception is that an MACD (with a specific setting of defaults and time increments) will work equally well when used to trade other securities, futures, or financial products. In others words: It is false to say only one MACD setting works the same in trading everything. Thanks; I will be sure to make this clarification in a future video. Welcome to the channel. - don
@@DayTradingMicroFutures Thanks for the explanation Don; just bought your book and hoping it get's delivered over the weekend.
...Stay Healthy
Nice informative video!
I live in Canada and the broker I use don't have option to trade with micro E mini futures. Can you recommend one for Canadians?
Yes I can. Just drop me a private email using the address in my book and I can send you the info. Welcome to the channel.
Another informative material from you Don! Thanks for your good work!
A question:
Do you have any past statistical experience if you have 2 charts side by side, a 5 minute and a similar 1 minute chart (yes,it is noisy!) and both of these two "agree" for the entry/exit signals? Maybe the win ratio will increase, your thoughts? I fully understand that we will get fewer signals.
No, I do not. I opt for 5m myself and recommend it to those beginning to trade the Micros for the first time... I prefer fewer signals / less noise but of course, not everyone will have those same preferences. Thanks for you comment. Stay well.
which site is recommended for technical chart for micro futures
Greetings and welcome to the channel.
Perhaps these playlist for beginners will help clarify some of your questions.
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 did you get the red and green lines? as WHAT are these? indicators/studies of what?
Perhaps these will help:
✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
✅ SUBSCRIBE TO THIS CHANNEL: So you won't miss any videos, get notifications: Get notified of new videos here: ua-cam.com/channels/3WzyRqTuFn2iBjBPu-D6HA.html
You the best god bless 🙏 you
Thanks, Luis. Kind words are always appreciated here. You stay well.
I enjoyed your book. Do you enter your trades at the market?
Sometimes, mostly limit.... but just remember trying to shave that extra .50 point can have you missing a good trade. good luck. welcome to the channel.
Trade futures 23 hours per day
Be aware that trading outside the regular day-session (Eastern time that is 9:30 am until 4:00 pm --- will require a much larger account.- Don enjoy your weekend and welcome to the channel. - Don
is it normal for some one to blow account when trading this first? I lost my first account (250) and I am almost losing my second account but I still like to continue
Hashem. I have many video that might help. Start with the Beginners Playlists, I'll list below, then see the other links on how to practice trade:
Day Trade Futures for Beginners:
✅BOOK: Easier Faster Way to Learn: bit.ly/daytrademicros Organized to speed your learning.. All the info you need in one place.
How to Practice Trading Methods- before you risk a dime: A Modern Way to Learn: Learn EXACTLY how to use a MODERN trade journal: ua-cam.com/video/L7Mxb65KBa4/v-deo.html
TWO PLAYLISTS FOR BEGINNERS: Each has 4 videos about ten minutes long each. (each list has 4 ten-minute videos)
✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
It is “not” normal. But most unfortunately do because mostly they over trade, way over size (like 10x too big), and FAIL to take their stops. -best trading, -hg
How do you handle trading ranges? On a 5 minute chart ranges are tough with the MACD.
Welcome to the channel. May I suggest this video, Sean? ua-cam.com/video/U43vST2iajI/v-deo.html have a great holiday weekend.
Pay attention to ATR (average true range) I don't trade without it
Ben Thoden agreed. I use general rule that 3.5 ATR is my generic stop loss in case some horrible event happens, I make sure it's lower than $1000, as to not risk too much
Don, what about setting up a stop loss?
Dante, I invite you to explore the videos here on the channel. Many of them including the one above this text, offer examples and discussions of using stop orders to lock in profits and/or stop loss.
The psychological part of trading is the hardest for me.
I'm pretty decent at taking a great entry in the morning.
I can't hold a trade to save my life. Even though I know the cycle, I know that's it's going to give me a good pull back near my entry price at least once, but I am trading with the trend, so I shouldn't be worrying. I should just let it hit my stop if that's the way the market decides to go. For some reason I just can't do it, lol. I end up getting into this tunnel vision trance, making 100+ trades a day. Let's not even talk about my commissions.... Ugh. =/
These emotions are so freggin real and powerful, you won't know what happened until your account is toast.
Listen to Mr. Singletary, he is very wise!
Greetings Ron: Warren Buffett has a saying (many actually) but one of them says, "When you get into a hole, stop digging." And just the other day I saw Bill Gates in an interview with these words, "It is twice as hard to unlearn something than it is to learn it."
Ron, I admire your honesty. I assure you that you won't believe how many other people will read your comments and find some of the same laments about their own trading. At some time during learning to trade, I think we all have the thought, "If I had just done the exact opposite of all my trades today, I would have made a lot of money."
In the end, all traders are different and even unique-- what works for one does not necessarily work for another. Sometimes we let other people's methods and advice seem to bore a hole in our brains and setup camp there - and they live 'rent free' in our heads while WE are paying the rent.
I wrote an email to a friend the other day. He's a trader and like you he is enthusiastic about trading, a very smart fellow and eager to learn. This is part of the note I sent to him:
"I rarely use sports analogies, but helping someone learn to trade is like trying to ‘talk them through a game of golf’. Even if they are a good listener, they have to learn to play to their own strengths and weaknesses ----and as Oscar Wilde said: “Be yourself; everyone else is already taken.”
Back in the day when I used to play the game of golf-- my dear friend and father-in-law, used to insist that he treat me to a session with the club’s golf pro before we played a game with a cash bet involved. He knew that a twenty-minute session of instructions on exactly what I should do, would be the quickest and most direct way for me to play a really bad round. (I eventually figured this out and have made my money back treating my friends to those complimentary lessons with the club pro.)
I find that equity index trading is very much like golf, only without the long walk and the grass."
Sometimes, it is best to 'park your real money' and sort of go back to the drawing board. There is a simple-to-use trade simulation program at the Chicago Merc Exchange (the "CME"). You have to sign up free get access to it. They provide totally free, a trade simulator. It is sort of like a great 'trading video game', when you "die" -you can hit the reset button and it re-fills your account with cash. There are no annoying ads there and nobody looking over your shoulder creating 'noise' to distract you. In this respect, it is a 'quiet place' place.
Here's the link: bit.ly/TradeSimulatorFREE
You should have only two things to do there:
Rule#1: protect your assets as top priority. ...and
protect your self-confidence with equal vigor.
If you have my book, drop me an email at the address in there and let me know how things work out for you. Good luck my friend. - Don
H Don, I can’t help thinking that we have met before.anyhow, I am very happy with the results that I started getting on my first few trades following your suggestions. I have turned a $1000.00 account in to a $48,500.00 in a week. lol (paper trading).This is by far the best I have ever seen in my 18 months of training from anyone.
Thanks again
Ernest W
Ha! I blinked twice at that Ernest. No 'system' works that well... I guess you had 'beginner's luck' but the gun was loaded with real cash. That's funny. Thanks for passing that along; I enjoyed that. Have a great week. - Don
@@DayTradingMicroFutures I was trading 100 contracts. lol, I sometimes like to have fun with trading.
I can’t find the micro e mini symbols in the platform lol someone can help . Thanks
Call your broker and they'll be glad to help.
Day Trading Micro Futures I found what I was doing wrong, I forgot to add / before those symbols, as is showing in your video. Thanks
👍🙂
Many thanks, Rob. Good luck to you- Don
Can u speak louder please..I have volume cranked
Its still hard to gear you. I love your beginners
Vidios..too thank you..
Hello Don - I just checked it and sounds ok here. Is it just that ONE video or is it all of them? I only asked because no else has complained and this video has been up several months now. Is there any way to adjust your MASTER volume to a higher level? Sorry you had a problem.
I take him serious here can i pratice
thanks