Don, I stumbled upon your videos by accident and have already viewed more than six in a single seating. Your teaching is clear and the pace is exactly what I was searching for as a novice. i have also ordered your book on Amazon and can't wait to read it. Thank you!
Hello Tex, yes please practice a lot before risking your money. *Free Trade Simulator* 👍You can be practicing in only 5 minutes. ✅ Here is a FREE TRADE SIMULATOR with no ads and that will keep your trade ledger for you. It is FREE for signing up (no credit card or personal info required) at the CME (Chicago Merc Exchange) at this link: bit.ly/TradeSimulatorFREE
Great to hear! Thanks Creed, sure glad to hear it but YOU deserve the credit for sure. Isn't it amazing how a fairly small change in thinking can change trading results! Nice to hear from you and good luck - Don
11.04.22 Another profitable day, before the market opened trading the S&P 500. Simply following your advise. Only wish I could have found your channel sooner. Could have saved me a lot of money.
Love the way you explain the basics, Don. Your chapter on trade psychology in your book is worth its weight in gold. Thanks for another well produced video.
Very helpful - have given so much money back to the market foolishly learning while trading minis --- I should have been trading micros and learning ..... Thank you for this - and just purchased your book!
Hi Don, really good stuff about trading psychology. As someone who's just started trading live in micros, after months studying and paper trading. I've realised that psychology plays a massive role in how we trade. I was very consistent and become cocky while paper trading. Fair to say I got my ass kicked while trading live, as I went in expecting to make big bucks. I've now realised I need to take a few points, protect my account and build from there. Your videos have helped me realise this, cheers mate.
Scott, Sounds like you are making tremendous progress. I'd say you are a fast study. Very often people who paper trade will practice with the 'play money' one way-- and then WHEN they go live/real, they have no experience at what they are doing. They have practiced things completely different than they trade. Sounds simple, but most people don't understand that. Thanks for checking in and good luck to you - Don
Yes Don, it’s good to trade the micros, learn today from your video, I need to be disciplined trading the micros as you said, since I kept blowing up my small account due to lack of discipline. Even I guess I know how to trade but lack of discipline kills account😣
It takes a lot of practice. The #1 mistake of learning traders is often over-trading. I remind myself every day that I trade that "just because I show up" doesn't necessarily mean there is some great trade waiting for me." Oddly another reason so many over-trade is because this type of trading can be so much fun. Years ago, a mentor (and a brilliant trader) asked me years ago, "Donald, do you know what you call a horse race without a $2 bet?" And he replied to his own question, "Boring!" good luck to you - Don
Glad to see another video Don. Been a while since the last one, was worried you might have been done. I’ve been binge watching all your video’s, thank you very much the content! Love it
Hello Tact Trader: Nope, still here! Creating videos can be a time consuming undertaking and I run a day or two later rather often lately. I'll try to improve on that. Years ago, when Dolly Parton was on the old Johnny Carson show - she entered the set and Johnny applauded and said, "Dolly, as always- you look absolutely gorgeous." To which she replied, "Johnny, you'd be surprised how much it costs me to look this cheap." :) -Don
Good evening Don, Just purchased your book. I've purchased courses, read books, considered momentum trading, options and was deathly afraid of futures until I found your channel. Now, paper trading micros . For the first time in almost 3 years, I feel I can comfortably trade this strategy. I would love to hear your thoughts about trading the 1 min with the 5 minute as reference. Especially in faster markets. Thank you
As you see in my videos, I always use the same setup and my candlesticks are always 5m. I find a 1m is a bit 'noisy' and can not be quite as reliable as 5m, but more importantly - as I often mention in my videos - I suggest that people do not 'hopscotch' from one setup to another because (whatever you choose to use) the constant changing of one's setup makes it hard to learn due to lack of consistency. I think it's better to practice and get experience first, and then test alternate tweaks. It's really hard to learn without consistency. So that's my 'two cents.' The idea that there is some 'magic' formula for trading success (that will work for all traders) is a false narrative, so searching for it is like the carrot on a stick, always in sight but impossible to reach (and therefore is often a huge distraction to learning.) Thanks and good luck to you whatever you wish to try. - Don
Awesome! Thank you! You made my day and welcome to the channel. I'm going to put down a few links that you can explore if you wish. This trading is risky of course and often tricky to learn but it can also very exciting/fun to learn. Your job is to learn to protect/keep your money and to last long enough to bank more of it. One cannot control how much money they might make, but cannot control the amount of money each trade will make. Good luck to you - Don ✅ 100% Live Trade Playlist: If you’d like to see some LIVE TRADES. Here’s a FREE New Live Trade Playlist for you, check it out: bit.ly/PlayListNumber3 ✅I use the click n drag to move my stops and open trades with a Bracket/OCO order. Here's a short video on the broker I use on my channel: ua-cam.com/video/HMTt6gvzif0/v-deo.html GET READY TO LEARN THE BASICS RIGHT NOW: *FREE Training Videos at BEGINNERS PLAYLISTS* : EACH PLAYLIST HAS FOUR 10-MINUTE VIDEOS ✅ "BEGINNERS" PLAYLIST #1: THE BASICS: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html ✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html ✅Using Stop Loss to Create "Free" Trades. ua-cam.com/video/pUvrBM9j5t0/v-deo.html Welcome to the channel. ✅ **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
Thank you Don, for continuing to create and share these masterpieces. Looking forward to many more of these. They have been extremely helpful correcting my trading Psychology along with creating a new strategy, shadowing your thought processes. Your contribution to us, the retail traders, is immense.
@@DayTradingMicroFutures That will be amazing. I need to learn how to trade futures in Tasty Trade. Do you recommend me starting with /MES or /MNQ? I need to implement your method first and continuously adjust the stop loss up or down, as the trade progresses, like you are teaching. Keeping my capital is my focus and I still don't know how :-(!
@@dstoicthinker Practice before you put that real money in play. I recommend using this trade simulator: The CME has a free, no deposit, zero cost trade simulation program you can practice with while you get the basics down: www.cmegroup.com/education/practice/about-the-trading-simulator.html You can be up and running with it in about five minutes. Once you get the simulator going, look for "User Guide" just below the lower right corner of the chart. Remember to trade the same 'size' trades as you will be using with real money trading. -Don
@@dstoicthinker No I don't and it is not in the plans. I have 147 videos on the channel right now and they are all on the same subject. I am working on an audio book on Trading Psychology, and a new video course to introduce a strategy or two on how small or beginner's accounts can easily learn how to inexpensively trade options with very limited risks in short 30 to 45 days trades that have a high probability of success. The TastyWorks software I use here on the channel just happens to be one of the top option-trading platforms in the world. Stay tuned!
Another excellent video Don - we all get to enjoy your labors of love. Glad to see a "green" trade now and again mixed in with the shorts, maybe this bear market is going into hibernation?
Hello Kent. After 2:30 Eastern time when Powell was speaking-- I did a 'red' trade ha. lost on two very short trades with very small stops. Then the third time was a charm and I made 28 pts down on 2 contracts, so it made up for my two smaller losses and ended the day nicely. I'm not sure there was a lot of logic to the trade, maybe I was just lucky! I'll taKe it. - Don
The obvious question here is why didn't you take the trade at 10:00 a.m? Unfortunately I have not had much success trading the 5 minute on the /NMQ. The volatility during the day causes so many stop outs. It seems you have to risk much more than $20 to gain $40 during regular trading hours.
You site the same frustrations and problems we all face. I would love to think there was some one or two sentences I could type here that would suffice and have everyone making money instantly. Unfortunately that does not exist. Here's a list of my most recent (and all FREE) videos on a playlist: bit.ly/PlayListNumber3 This playlist has several hours of discussions on the subject but before you watch it please know that it won't 'work that magic' either. Welcome to the channel. Good luck to you. Don't risk your money without a lot of practice. *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 good luck to you- Don
Рік тому
I'm really enjoying all your videos! I bought your book last week and I'm reading it and really enjoying it. Please post more trading videos! Cheers from Brazil!
I hear you. We go through those streaks from time-to-time. The markets these days seem like most trades are going to be 'feast or famine' and there isn't much in between. Finding trades is very challenging. Always nice to hear from you. - Don
Hello Jey. I am very glad to hear from you. Thank you. So very nice of you to offer the compliment. I use a program called Camtasia by a company TechSmith. I do all my writing, editing, and video creating myself and it can be very labor intensive but very rewarding. It often takes me about 10 to 15 hours to produce a ten minute video. My channel is supported by my book sales (see: ✅ **BOOK** : Check out the Amazon listing (free Prime shipping) at this link: bit.ly/daytrademicros And I also am an affiliate of TastyWorks, my affiliate link is: bit.ly/2ZUYjtS I have a great time writing books and doing videos for the channel and the work is a joy for me. We live in amazing times. I can make TV shows (videos) and publish my books all from the comfort of my home office. And now, of course, everyone has a video player (cellphone) on their person. I was reading Walter Isaacson's book "Innovators" where he quoted one of the founders of Google (Larry Page) as saying, "One should maintain a healthy disrespect for the impossible." We all can pull a piece of glass out of our pockets, rub it, and talk to people thousands fo miles away as if we are in the same room." I have loved science and technology since I was 8 or 9 years old - and it has been one thrill after another for all my life. Peace and good luck to you my friend. - Don
I got your book a couple of months ago. Great read. One thing I found really odd though. I wanted the links to the learning videos mentioned in the book, so I sent an email to the address provided. I received a reply the next morning with the link. Almost immediately, I started to get around 10-15 spam emails a day, and they have not stopped. Hotmail can't filter them out for some reason. I thought it was a strange coincidence, since that was a fairly new email that almost no one knew.
I gotten tens of thousands of emails and replied to them and not one of them has ever reported that problem. I never forward anyone's email to anybody for any reason.
Hi Don, You have already managed to turn my trading practices up-side-down with your videos, and your book doesn't even arrive until Tuesday. All my life I have believed that the greater the risk, the greater the potential gain. I even survived 7 years of duty in the U.S. Submarine Service in the early 1960's with that thinking! However, over the last 30 years I have consistently lost money trading stocks, options, covered calls, penny stocks, and ETFs with that philosophy. The only time I have ever made money in the markets was when I handed everything to Vanguard in my 401k and ignored it for 5 years. Now it's down 25% from its peak, so even that didn't work. (sigh). I'm looking forward to trying the micros with your approach. There's hope! You are a great teacher, and I am enjoying each of your sessions. I watched your session about how to set up Tastyworks, but didn't see anything about how to set up the left side of the screen. Having run the gauntlet to get an account (even had to do a selfie with my driver's license held under my chin), I have downloaded the desktop, have watched their videos, and am awaiting futures approval, but haven't sent funds yet, so things are likely not fully enabled with them. I know you watch your profit/loss while in a trade...I assume from the left side, but don't see how you do it in any of your videos or theirs. I would appreciate a bit of guidance here. Or maybe I should just ignore P/L while in a trade and focus on stop management? Huh...there's a thought... Thanks, Dave
Welcome Dave: You are correct, TW won't allow trade mode until it's funded but you can still explore it a bit, learn to setup watchlists and other things. Since you were submariner, you are likely a very smart fellow so remember not to over-think this stuff. As you will see in my book --that belief that trading has a strictly followed recipe to making money is very much a false narrative. That myth is the carrot on a stick --- goal always insight but there is not a solution (never reachable.) Over-trading the cause of most account blow-ups. Concentrate on containing risks and trade selection --- these are the two things you actually can control. Mastering reducing risk during a trade and practicing trade selection -- will allow you to stay in trades with potential, that's means more time in the game and you will learn to dump trades that give you nothing and move on. Here's a link to TW's page on desktop help subjects (scroll down the list is quite long): bit.ly/HelpTWorks There are two more ways to view the P/L on a trade in progress. The 'middle panel' has a POSITIONS tab is the one I usually use. There is also a pop out arrow from the right side of screen; from there you can monitor positions, orders, P/L, put in price Alerts and more. Explore, and if you need a little help call the TW gang (live operators and none of those damned 'press the number' menus: TW Customer Service: (888) 247-1963 Here's a video on using Bracket OCO to enter orders: ua-cam.com/video/HMTt6gvzif0/v-deo.html Here's a video on setting your screens up like the one's I use: ua-cam.com/video/_x-oqxZ2yO4/v-deo.html Hope that helps, glad to meet you. -Don
Much thanks Don for the quick and helpful response. Plan is to read your book, watch another 20 videos, and use the CME simulator to get my 25 "Successful Trades." If I can accomplish all that, I'll start trading live the 1st week of January. All that will be a true test of my discipline since I usually lunge into trading live way too soon. One other quick question...does Tastyworks issue a 1099 for futures trading? My ETF broker did not, though both Ameritrade and Vanguard do for all else. -Dave
Good morning, Don, Your book arrived on Sunday, and I have read and reread parts of it several times. You will be getting a five-star Amazon review from me! I also have watched at least 25 of your videos, including a few of the early ones. You are an awesome teacher. One question from the book and videos related to the risk/reward ratio (R/R). You spend some time in the book emphasizing the importance of tracking it, both for each trade, and overall. In early videos it appeared that you would set a stop, most likely at about 1% of your account value, and pretty much leave it alone. From that point on, the R/R would be largely dependent on profit, since the stop (risk) (the denominator) stayed the same. Later, once it appears you got the Tastymouse ability to move it via the chart, you began what I would call dynamic stopping for risk management and to lock in profit. Assuming the (long) trade was going well, you moved the stop up frequently. Each time you did, you effectively increased the R/R, until finally you placed it above the entry point, and the R/R became infinite. Is the R/R still relevant under this dynamic stop regime, and if so, how do you use it? Great work, I do wish you the best of success. Thanks, Dave
You make some good points there David. Yes, these days-- I certainly use the stop-loss order dynamically during the trade, so I can manage risk on the trade. We control how much we risk, but -after entering the trade- we don't really have control of 'how much' we might make.....though we do and should control the risk actively. BTW, you get better and better at using that stop-loss with practice. I suggest this playlist of my more recent videos for more examples of this. Here's the link: bit.ly/PlayListNumber3
Glad to hear that! Welcome to the channel Steve and good luck to you- Don ✅ 100% Live Trade Playlist: If you’d like to see some LIVE TRADES. Here’s a FREE New Live Trade Playlist for you, check it out: bit.ly/PlayListNumber3 ✅I use the click n drag to move my stops and open trades with a Bracket/OCO order. Here's a short video on the broker I use on my channel: ua-cam.com/video/HMTt6gvzif0/v-deo.html GET READY TO LEARN THE BASICS RIGHT NOW: ****FREE Training Videos at BEGINNERS PLAYLISTS: EACH PLAYLIST HAS FOUR 10-MINUTE VIDEOS ✅ "BEGINNERS" PLAYLIST #1: THE BASICS: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html ✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html ✅Using Stop Loss to Create "Free" Trades. ua-cam.com/video/pUvrBM9j5t0/v-deo.html Welcome to the channel. ✅ BROKER INFO: Here’s my link to the TastyWorks Application, you don't have to fund the account to check out the software; it is full-function but won't send orders unless you choose to fund it. (There's no obligation for you to do so and no charges or cards required.) This is the exact same software I use on this channel. I selected it because you can trade with everything on ONE-page (the “see it, click it, trade it TastyWorks formatting.) As you will see in the videos on the channel, TastyWorks is easy and fast to learn and just as important all the data, software, and money transfers (to /from) your bank are free. In about two business days your account will be ready. You will be able to open the trading software and explore it. (no funding required and if you change your mind, no fees or obligation whatsoever. ) If you try TastyWorks, please use my affiliate link, it helps support all the free videos on the channel. You'll be able to see the software and check it out - and you'll be able to trade if you decide to fund the account. Thank you; here's the link to the application: bit.ly/TastyBonus TastyWorks America’s Favorite Broker Free Data Feeds. Low Commissions. Free money transfers in/out of your bank. No robot help lines, just real live smart people ready to help you. How to Start: Just fill out the account application at this link bit.ly/TastyBonus No deposit or credit card required - and you do not have to fund your account until you are ready. PLUS, even though you cannot trade until you fund, you can still operate the software and check it out. I think you'll like it. For account type select "The Works" - and you will have an account for trading the Micros. When your application is approved: Just fund your account and you are ready to begin trading real time. How Much to Start: TastyWorks requires $2,000 to open ‘the works’ account and a minimum of $2,500 to qualify for the lower intraday margin rates which will allow you to trade during regular day session using only 25% of the overnight margin requirements. Intraday margins are only 25% of the amount for overnight margin requirements; for full into see here: INTRADAY A COMMENT: You can start with less at some of the other brokers - but it is really tough too start with just a few hundred because if you have a few losing trades, you have to stop until you make another deposit. Something in the $3k to $5k range is a good starting amount. The CME has a free, no deposit, zero cost trade simulation program you can practice with while you get the basics down: www.cmegroup.com/education/practice/about-the-trading-simulator.html
Awesome content ! Maybe I missed it but do you have a video on how you set up your tasteyworks screen? If not, can you make a video - would love to set it like yours. Thanks
Hello Don. Great channel. I've learned a lot from your videos. I've heard that one must close all Futures trades by around 4pm each day or your broker closes them for you. Is that true? Also, if thats true, how can one do a multi day swing trade with Futures? Do you / can you use higher time frames for intraday trades like the 15 min, etc? Thanks for all you do here on this channel! (ordering your book today!)
Those things you heard about 4pm are not quite correct. Here's the quick answer: Intraday margin is the per-contract minimum amount of money required in your account to hold a position during regular trading hours. Initial margin is the per-contract minimum amount required in your account to maintain a position overnight. Initial margin is significantly larger than the intraday margin requirement. For example: If one's account has a balance ample for intraday but not enough to maintain a position overnight, then you cannot hold the position overnight (overnight = outside the day session) then you must exit the trade prior to the end of the day trading session. This is *important:* Every trader should contact their broker(s) and make sure they understand the amounts and the rules of their margin requirements (those amounts can vary a bit depending the broker's policy.) Each trader has an obligation and responsibility to understand these requirements before they trade - and details can vary a bit per broker. Talk to your broker and make sure you understand the facts and legal requirements before you trade. It is your obligation to do so before you trade. About your other question on time frames (time increments on charts): I always use 5m candlesticks. Constantly changing the parameters, types of indicators is what I call 'hopscotching'--- I advise against doing that. Realize there are no infallible trading system(s). Don't hopscotch from one technical system to another; it's impossible to learn that way because there is no consistency and you will sabotage your own learning. I highly recommend you watch this: This is a link that opens a video to the place where I discuss "hopscotching": ua-cam.com/video/8DPAyOP_L2M/v-deo.html You may wish to go to the two Beginner's Playlists and some of the other links here: good luck to you - Don ✅ 100% Live Trade Playlist: If you’d like to see some LIVE TRADES. Here’s a FREE New Live Trade Playlist for you, check it out: bit.ly/PlayListNumber3 ✅I use the click n drag to move my stops and open trades with a Bracket/OCO order. Here's a short video on the broker I use on my channel: ua-cam.com/video/HMTt6gvzif0/v-deo.html GET READY TO LEARN THE BASICS RIGHT NOW: ****FREE Training Videos at BEGINNERS PLAYLISTS: EACH PLAYLIST HAS FOUR 10-MINUTE VIDEOS ✅ "BEGINNERS" PLAYLIST #1: THE BASICS: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html ✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html ✅Using Stop Loss to Create "Free" Trades. ua-cam.com/video/pUvrBM9j5t0/v-deo.html Welcome to the channel.
Explaining and your speaking skills are A+ However, lack of explaining what got you into this trade exactly! Was it MACD moving certain amount? Was it time of day? What was the wind exactly? What made you decide to ask for the target? Based on what? Do you change the point target daily? If so, based on what? Finally, given market volatility, your continued moving of the stop upward ( trailing stop) would surely bring your losing ratio up from the 40% you kept referring to! What about percent of account value to risk and profit? What size? So many unanswered questions and points left out!
Please explore the channel and more videos to get additional information. There are over 160 other videos, a beginner's playlist (two of those actually with 8 to 10 videos on the basics.) None of those 160 will answer all questions. Welcome to the channel and thanks for your comments. - Don ✅ **BOOK** : Over 475 FIVE-STAR Reviews - Join thousands who have use this book to get a fast start: Check out the Amazon listing (free Prime shipping) at this link: bit.ly/daytrademicros FREE Training Videos at BEGINNERS PLAYLIST: ✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html ✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html ✅ Use *BRACKET/OCO Orders* and How to Configure Trade Screen bit.ly/BracketScreenSetup ✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3 **Must See** ✅ Rule #1: bit.ly/RuleNumber1 ✅ Join our 20k+ subscribers FREE & Get notified when new trade videos are posted each week: Subscribe Now at this link bit.ly/3mTTMTn *Free Trade Simulator* 👍You can be practicing in only 5 minutes. ✅ Here is a FREE TRADE SIMULATOR with no ads and that will keep your trade ledger for you. It is FREE for signing up (no credit card or personal info required) at the CME (Chicago Merc Exchange) at this link: bit.ly/TradeSimulatorFREE
Good evening Don, I've been set up with TD Ameritrade for futures trading. They require 1k of leverage for 1 contract. I get to start on your book this weekend, so forgive me if this question is answered there. In this scenario, if I have say 1200.00 in the account. I could buy 1 contract but of course, if it falls under 1k, I would be margin called. Question:. If I buy and sell that 1 contract same day, would I be able to purchase 1 contract immediately afterwards, same day? Does it clear immediately or in this scenario of buying 1 contract, am I done for the day, without additional funds? Potentially risking a margin call or not being able to purchase another contract without funds being clear. Hope I explained my question clearly enough. Thank you
Hello Lawrence. I cannot speak on behalf of your broker. You should always contact your broker for definitive answers. I'm sure they will be glad to answer your questions. These policies and amounts often vary broker to broker. Brokers welcome such questions and they strive to make sure there are no misunderstandings. Speaking generally not to your account/situation specifically: Futures trades normally do clear immediately and when a trade is closed, funds in an account are available for more trading. Welcome to the channel and thank you for your question. Good luck to you - Don
Mr. Don - you do a great job. I have a question/statement so to speak. I trade with a Prop Firm on NinjaTrader. And, i can not get my stop losses as tight as you do. I get stopped out and then it shoots in the direction i believed it would go. Is that a NinjaTrader thing or my stop losses are to tight? I usually have my stop losses at 12 Ticks
Sorry for the noob question but I'm just not clear on one thing... If a ES Micro cost $50 to put on a trade, does that mean I need a 10 point move just to break even? I'm a little confused on that. Thank you and happy healthy.
No, not at all. You are you said are a noob, so getting the basics and terms down is the first steop of course. -Don The links below should help: ✅ **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 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
see if this answers your question Matt. here a link to a video: ua-cam.com/video/HMTt6gvzif0/v-deo.html Welcome to the channel. ✅ **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 ✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3 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 Let me know - Don
@@03tglasgow You shuldn't need more than 5 points max drawdown. You can snipe efficient trades with about a 3-4 point stop loss and go for 8 or 10 point wins pretty consistently. giving you a pretty easy 1-2 risk reward. But do what makes sense. Dont listen to me
A COMMENT: You can start with less at some of the other brokers - but it is really tough to start with just a few hundred because if you have a few losing trades, you have to stop until you make another deposit. Something in the $3k to $5k range is a good starting amount and is a better experience.
Found this on Tastyworks: Futures and Options on Futures Customers that traded any futures or options on futures will receive a Form 1099-B Futures, also known as a Substitute 1099 Statement. Your Futures 1099-B will list your Aggregate Profit or Loss from futures trading. Similar to cash-settled index option, the number you need to report is your Aggregate Profit or Loss (line 11), as illustrated below.
@@DayTradingMicroFutures Thanks for another great video Don! David's question got me thinking - do you have any videos or resources on filing taxes as a future trader? Best regards, Mike
@@mlg0303 No, Mike... just ask your broker what kind of (format/type) end of year reports you will get. Then take that info to your tax person or someone qualified and ask away. (There is a lot of misinformation on the web as you know, so find a trustworthy source please.) Good luck - Don
Don, I stumbled upon your videos by accident and have already viewed more than six in a single seating. Your teaching is clear and the pace is exactly what I was searching for as a novice. i have also ordered your book on Amazon and can't wait to read it. Thank you!
Yes, really appreciate that. I saw your requests for video and broker info - and sent you two emails earlier today. Thank you.- Don
wow you have an amzing voice with that you could even make a paint drying contest exciting
Thank you. I'm ROTFLMAO right now. Welcome, glad to hear from you.
Good luck - Don
You speak with a calming voice. Wish my inner self were that calm when I trade. Thanks for the pointers, Don!
Awesome
Don Your amongst the top Trading Teachers Ive Had . Thanks for your videos !
You are very welcome Jackie. Thank you very much my friend. - Don
Great content , I’m not profitable yet but I know isa I’m getting there.
Hello Tex, yes please practice a lot before risking your money.
*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
thanks so much, DS. you have helped my understanding of trading significantly. be well, my friend.
Great to hear! Good luck to you. - Don
Thank you for sharing all your experience!! You have changed my trading I can't thank you enough!!!
Great to hear! Thanks Creed, sure glad to hear it but YOU deserve the credit for sure. Isn't it amazing how a fairly small change in thinking can change trading results! Nice to hear from you and good luck - Don
11.04.22 Another profitable day, before the market opened trading the S&P 500. Simply following your advise. Only wish I could have found your channel sooner. Could have saved me a lot of money.
Wow WTG!!! Thanks for sharing - Don
Love the way you explain the basics, Don. Your chapter on trade psychology in your book is worth its weight in gold. Thanks for another well produced video.
Always glad to hear from you Bob. Thank you - Don
Very helpful - have given so much money back to the market foolishly learning while trading minis --- I should have been trading micros and learning ..... Thank you for this - and just purchased your book!
Wonderful. Let me knjow h ow things go for you. Best of luck to you- Don
Hi Don, really good stuff about trading psychology. As someone who's just started trading live in micros, after months studying and paper trading. I've realised that psychology plays a massive role in how we trade. I was very consistent and become cocky while paper trading. Fair to say I got my ass kicked while trading live, as I went in expecting to make big bucks. I've now realised I need to take a few points, protect my account and build from there. Your videos have helped me realise this, cheers mate.
Scott, Sounds like you are making tremendous progress. I'd say you are a fast study. Very often people who paper trade will practice with the 'play money' one way-- and then WHEN they go live/real, they have no experience at what they are doing. They have practiced things completely different than they trade. Sounds simple, but most people don't understand that. Thanks for checking in and good luck to you - Don
another great video thanks so much Don
Glad you enjoyed it
Yes Don, it’s good to trade the micros, learn today from your video, I need to be disciplined trading the micros as you said, since I kept blowing up my small account due to lack of discipline. Even I guess I know how to trade but lack of discipline kills account😣
It takes a lot of practice. The #1 mistake of learning traders is often over-trading. I remind myself every day that I trade that "just because I show up" doesn't necessarily mean there is some great trade waiting for me." Oddly another reason so many over-trade is because this type of trading can be so much fun. Years ago, a mentor (and a brilliant trader) asked me years ago, "Donald, do you know what you call a horse race without a $2 bet?" And he replied to his own question, "Boring!"
good luck to you - Don
Thanks a lot Don, much appreciate your response and your humor!
Glad to see another video Don. Been a while since the last one, was worried you might have been done. I’ve been binge watching all your video’s, thank you very much the content! Love it
Hello Tact Trader: Nope, still here!
Creating videos can be a time consuming undertaking and I run a day or two later rather often lately. I'll try to improve on that.
Years ago, when Dolly Parton was on the old Johnny Carson show - she entered the set and Johnny applauded and said, "Dolly, as always- you look absolutely gorgeous."
To which she replied, "Johnny, you'd be surprised how much it costs me to look this cheap."
:) -Don
@@DayTradingMicroFutures love it. Thanks for your time and efforts to put out this FREE content ! 👊 good ol Dolly Parton
Good evening Don,
Just purchased your book. I've purchased courses, read books, considered momentum trading, options and was deathly afraid of futures until I found your channel. Now, paper trading micros . For the first time in almost 3 years, I feel I can comfortably trade this strategy. I would love to hear your thoughts about trading the 1 min with the 5 minute as reference. Especially in faster markets.
Thank you
As you see in my videos, I always use the same setup and my candlesticks are always 5m. I find a 1m is a bit 'noisy' and can not be quite as reliable as 5m, but more importantly - as I often mention in my videos - I suggest that people do not 'hopscotch' from one setup to another because (whatever you choose to use) the constant changing of one's setup makes it hard to learn due to lack of consistency. I think it's better to practice and get experience first, and then test alternate tweaks. It's really hard to learn without consistency. So that's my 'two cents.' The idea that there is some 'magic' formula for trading success (that will work for all traders) is a false narrative, so searching for it is like the carrot on a stick, always in sight but impossible to reach (and therefore is often a huge distraction to learning.) Thanks and good luck to you whatever you wish to try. - Don
I just got your book last night and wanted to thank you again for putting this channel together 😊
Awesome! Thank you! You made my day and welcome to the channel. I'm going to put down a few links that you can explore if you wish. This trading is risky of course and often tricky to learn but it can also very exciting/fun to learn. Your job is to learn to protect/keep your money and to last long enough to bank more of it. One cannot control how much money they might make, but cannot control the amount of money each trade will make. Good luck to you - Don
✅ 100% Live Trade Playlist: If you’d like to see some LIVE TRADES. Here’s a FREE New Live Trade Playlist for you, check it out: bit.ly/PlayListNumber3
✅I use the click n drag to move my stops and open trades with a Bracket/OCO order. Here's a short video on the broker I use on my channel: ua-cam.com/video/HMTt6gvzif0/v-deo.html
GET READY TO LEARN THE BASICS RIGHT NOW:
*FREE Training Videos at BEGINNERS PLAYLISTS* : EACH PLAYLIST HAS FOUR 10-MINUTE VIDEOS
✅ "BEGINNERS" PLAYLIST #1: THE BASICS: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
✅Using Stop Loss to Create "Free" Trades. ua-cam.com/video/pUvrBM9j5t0/v-deo.html Welcome to the channel.
✅ **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
Thank you Don, for continuing to create and share these masterpieces. Looking forward to many more of these. They have been extremely helpful correcting my trading Psychology along with creating a new strategy, shadowing your thought processes. Your contribution to us, the retail traders, is immense.
More to come! Thanks. - Don
@@DayTradingMicroFutures That will be amazing. I need to learn how to trade futures in Tasty Trade. Do you recommend me starting with /MES or /MNQ? I need to implement your method first and continuously adjust the stop loss up or down, as the trade progresses, like you are teaching. Keeping my capital is my focus and I still don't know how :-(!
@@dstoicthinker Practice before you put that real money in play.
I recommend using this trade simulator: The CME has a free, no deposit, zero cost trade simulation program you can practice with while you get the basics down: www.cmegroup.com/education/practice/about-the-trading-simulator.html You can be up and running with it in about five minutes. Once you get the simulator going, look for "User Guide" just below the lower right corner of the chart. Remember to trade the same 'size' trades as you will be using with real money trading. -Don
@@DayTradingMicroFutures Do you have a discord group?
@@dstoicthinker No I don't and it is not in the plans. I have 147 videos on the channel right now and they are all on the same subject. I am working on an audio book on Trading Psychology, and a new video course to introduce a strategy or two on how small or beginner's accounts can easily learn how to inexpensively trade options with very limited risks in short 30 to 45 days trades that have a high probability of success. The TastyWorks software I use here on the channel just happens to be one of the top option-trading platforms in the world. Stay tuned!
Another excellent video Don - we all get to enjoy your labors of love. Glad to see a "green" trade now and again mixed in with the shorts, maybe this bear market is going into hibernation?
Hello Kent. After 2:30 Eastern time when Powell was speaking-- I did a 'red' trade ha. lost on two very short trades with very small stops. Then the third time was a charm and I made 28 pts down on 2 contracts, so it made up for my two smaller losses and ended the day nicely. I'm not sure there was a lot of logic to the trade, maybe I was just lucky! I'll taKe it. - Don
The obvious question here is why didn't you take the trade at 10:00 a.m? Unfortunately I have not had much success trading the 5 minute on the /NMQ. The volatility during the day causes so many stop outs. It seems you have to risk much more than $20 to gain $40 during regular trading hours.
You site the same frustrations and problems we all face. I would love to think there was some one or two sentences I could type here that would suffice and have everyone making money instantly. Unfortunately that does not exist. Here's a list of my most recent (and all FREE) videos on a playlist: bit.ly/PlayListNumber3 This playlist has several hours of discussions on the subject but before you watch it please know that it won't 'work that magic' either. Welcome to the channel. Good luck to you. Don't risk your money without a lot of practice.
*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
good luck to you- Don
I'm really enjoying all your videos! I bought your book last week and I'm reading it and really enjoying it. Please post more trading videos! Cheers from Brazil!
Obrigado e boa sorte para você.
Another great video thanks Don I’ve been up and down lately can’t swing at every pitch like u said 👍👍
I hear you. We go through those streaks from time-to-time. The markets these days seem like most trades are going to be 'feast or famine' and there isn't much in between. Finding trades is very challenging. Always nice to hear from you. - Don
@@DayTradingMicroFutures oh yeah u definitely need patience these days the markets been so choppy another great video thanks Don 👍
Hi Don,
Great video again on ES mini.
I have a different question! What app you use to make such a great video? Power Point animation!
Hello Jey. I am very glad to hear from you. Thank you. So very nice of you to offer the compliment. I use a program called Camtasia by a company TechSmith. I do all my writing, editing, and video creating myself and it can be very labor intensive but very rewarding. It often takes me about 10 to 15 hours to produce a ten minute video. My channel is supported by my book sales (see: ✅ **BOOK** : Check out the Amazon listing (free Prime shipping) at this link: bit.ly/daytrademicros
And I also am an affiliate of TastyWorks, my affiliate link is: bit.ly/2ZUYjtS
I have a great time writing books and doing videos for the channel and the work is a joy for me. We live in amazing times. I can make TV shows (videos) and publish my books all from the comfort of my home office. And now, of course, everyone has a video player (cellphone) on their person.
I was reading Walter Isaacson's book "Innovators" where he quoted one of the founders of Google (Larry Page) as saying, "One should maintain a healthy disrespect for the impossible." We all can pull a piece of glass out of our pockets, rub it, and talk to people thousands fo miles away as if we are in the same room." I have loved science and technology since I was 8 or 9 years old - and it has been one thrill after another for all my life. Peace and good luck to you my friend. - Don
Hey Don, another great video galvanized with trading psychology.
Hey, thanks Bill. I really appreciate your comments. Glad to hear from you- have a great weekend - Don
I got your book a couple of months ago. Great read.
One thing I found really odd though. I wanted the links to the learning videos mentioned in the book, so I sent an email to the address provided. I received a reply the next morning with the link. Almost immediately, I started to get around 10-15 spam emails a day, and they have not stopped. Hotmail can't filter them out for some reason. I thought it was a strange coincidence, since that was a fairly new email that almost no one knew.
I gotten tens of thousands of emails and replied to them and not one of them has ever reported that problem. I never forward anyone's email to anybody for any reason.
Hi Don,
You have already managed to turn my trading practices up-side-down with your videos, and your book doesn't even arrive until Tuesday. All my life I have believed that the greater the risk, the greater the potential gain. I even survived 7 years of duty in the U.S. Submarine Service in the early 1960's with that thinking! However, over the last 30 years I have consistently lost money trading stocks, options, covered calls, penny stocks, and ETFs with that philosophy. The only time I have ever made money in the markets was when I handed everything to Vanguard in my 401k and ignored it for 5 years. Now it's down 25% from its peak, so even that didn't work. (sigh). I'm looking forward to trying the micros with your approach. There's hope! You are a great teacher, and I am enjoying each of your sessions. I watched your session about how to set up Tastyworks, but didn't see anything about how to set up the left side of the screen. Having run the gauntlet to get an account (even had to do a selfie with my driver's license held under my chin), I have downloaded the desktop, have watched their videos, and am awaiting futures approval, but haven't sent funds yet, so things are likely not fully enabled with them. I know you watch your profit/loss while in a trade...I assume from the left side, but don't see how you do it in any of your videos or theirs. I would appreciate a bit of guidance here. Or maybe I should just ignore P/L while in a trade and focus on stop management? Huh...there's a thought...
Thanks,
Dave
Welcome Dave:
You are correct, TW won't allow trade mode until it's funded but you can still explore it a bit, learn to setup watchlists and other things.
Since you were submariner, you are likely a very smart fellow so remember not to over-think this stuff. As you will see in my book --that belief that trading has a strictly followed recipe to making money is very much a false narrative. That myth is the carrot on a stick --- goal always insight but there is not a solution (never reachable.) Over-trading the cause of most account blow-ups. Concentrate on containing risks and trade selection --- these are the two things you actually can control. Mastering reducing risk during a trade and practicing trade selection -- will allow you to stay in trades with potential, that's means more time in the game and you will learn to dump trades that give you nothing and move on.
Here's a link to TW's page on desktop help subjects (scroll down the list is quite long): bit.ly/HelpTWorks
There are two more ways to view the P/L on a trade in progress. The 'middle panel' has a POSITIONS tab is the one I usually use. There is also a pop out arrow from the right side of screen; from there you can monitor positions, orders, P/L, put in price Alerts and more.
Explore, and if you need a little help call the TW gang (live operators and none of those damned 'press the number' menus:
TW Customer Service: (888) 247-1963
Here's a video on using Bracket OCO to enter orders: ua-cam.com/video/HMTt6gvzif0/v-deo.html
Here's a video on setting your screens up like the one's I use:
ua-cam.com/video/_x-oqxZ2yO4/v-deo.html
Hope that helps, glad to meet you. -Don
Much thanks Don for the quick and helpful response. Plan is to read your book, watch another 20 videos, and use the CME simulator to get my 25 "Successful Trades." If I can accomplish all that, I'll start trading live the 1st week of January. All that will be a true test of my discipline since I usually lunge into trading live way too soon.
One other quick question...does Tastyworks issue a 1099 for futures trading? My ETF broker did not, though both Ameritrade and Vanguard do for all else. -Dave
@@davidwright9688 Just call and ask'em Dave. That way you can ask a follow up if you need it. (888) 247-1963 Sounds like you have a good plan. -Don
Good morning, Don,
Your book arrived on Sunday, and I have read and reread parts of it several times. You will be getting a five-star Amazon review from me! I also have watched at least 25 of your videos, including a few of the early ones. You are an awesome teacher.
One question from the book and videos related to the risk/reward ratio (R/R). You spend some time in the book emphasizing the importance of tracking it, both for each trade, and overall. In early videos it appeared that you would set a stop, most likely at about 1% of your account value, and pretty much leave it alone. From that point on, the R/R would be largely dependent on profit, since the stop (risk) (the denominator) stayed the same. Later, once it appears you got the Tastymouse ability to move it via the chart, you began what I would call dynamic stopping for risk management and to lock in profit. Assuming the (long) trade was going well, you moved the stop up frequently. Each time you did, you effectively increased the R/R, until finally you placed it above the entry point, and the R/R became infinite. Is the R/R still relevant under this dynamic stop regime, and if so, how do you use it?
Great work, I do wish you the best of success.
Thanks,
Dave
You make some good points there David. Yes, these days-- I certainly use the stop-loss order dynamically during the trade, so I can manage risk on the trade. We control how much we risk, but -after entering the trade- we don't really have control of 'how much' we might make.....though we do and should control the risk actively. BTW, you get better and better at using that stop-loss with practice.
I suggest this playlist of my more recent videos for more examples of this. Here's the link: bit.ly/PlayListNumber3
thanks a lot, it's very useful to kick start
Glad to hear that! Welcome to the channel Steve and good luck to you- Don
✅ 100% Live Trade Playlist: If you’d like to see some LIVE TRADES. Here’s a FREE New Live Trade Playlist for you, check it out: bit.ly/PlayListNumber3
✅I use the click n drag to move my stops and open trades with a Bracket/OCO order. Here's a short video on the broker I use on my channel: ua-cam.com/video/HMTt6gvzif0/v-deo.html
GET READY TO LEARN THE BASICS RIGHT NOW:
****FREE Training Videos at BEGINNERS PLAYLISTS: EACH PLAYLIST HAS FOUR 10-MINUTE VIDEOS
✅ "BEGINNERS" PLAYLIST #1: THE BASICS: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
✅Using Stop Loss to Create "Free" Trades. ua-cam.com/video/pUvrBM9j5t0/v-deo.html Welcome to the channel.
✅ BROKER INFO: Here’s my link to the TastyWorks Application, you don't have to fund the account to check out the software; it is full-function but won't send orders unless you choose to fund it. (There's no obligation for you to do so and no charges or cards required.)
This is the exact same software I use on this channel. I selected it because you can trade with everything on ONE-page (the “see it, click it, trade it TastyWorks formatting.)
As you will see in the videos on the channel, TastyWorks is easy and fast to learn and just as important all the data, software, and money transfers (to /from) your bank are free.
In about two business days your account will be ready. You will be able to open the trading software and explore it. (no funding required and if you change your mind, no fees or obligation whatsoever. )
If you try TastyWorks, please use my affiliate link, it helps support all the free videos on the channel.
You'll be able to see the software and check it out - and you'll be able to trade if you decide to fund the account. Thank you; here's the link to the application: bit.ly/TastyBonus
TastyWorks America’s Favorite Broker
Free Data Feeds.
Low Commissions.
Free money transfers in/out of your bank.
No robot help lines, just real live smart people ready to help you.
How to Start: Just fill out the account application at this link bit.ly/TastyBonus No deposit or credit card required - and you do not have to fund your account until you are ready. PLUS, even though you cannot trade until you fund, you can still operate the software and check it out. I think you'll like it. For account type select "The Works" - and you will have an account for trading the Micros. When your application is approved: Just fund your account and you are ready to begin trading real time.
How Much to Start: TastyWorks requires $2,000 to open ‘the works’ account and a minimum of $2,500 to qualify for the lower intraday margin rates which will allow you to trade during regular day session using only 25% of the overnight margin requirements. Intraday margins are only 25% of the amount for overnight margin requirements; for full into see here: INTRADAY
A COMMENT: You can start with less at some of the other brokers - but it is really tough too start with just a few hundred because if you have a few losing trades, you have to stop until you make another deposit. Something in the $3k to $5k range is a good starting amount. The CME has a free, no deposit, zero cost trade simulation program you can practice with while you get the basics down: www.cmegroup.com/education/practice/about-the-trading-simulator.html
Awesome content ! Maybe I missed it but do you have a video on how you set up your tasteyworks screen? If not, can you make a video - would love to set it like yours. Thanks
Sure thing Jennifer: welcome to the channel ua-cam.com/video/_x-oqxZ2yO4/v-deo.html and good luck - Don
Thank you don
Good luck to you Richard. ---- Don
Hello Don. Great channel. I've learned a lot from your videos. I've heard that one must close all Futures trades by around 4pm each day or your broker closes them for you. Is that true? Also, if thats true, how can one do a multi day swing trade with Futures? Do you / can you use higher time frames for intraday trades like the 15 min, etc? Thanks for all you do here on this channel! (ordering your book today!)
Those things you heard about 4pm are not quite correct. Here's the quick answer:
Intraday margin is the per-contract minimum amount of money required in your account to hold a position during regular trading hours. Initial margin is the per-contract minimum amount required in your account to maintain a position overnight. Initial margin is significantly larger than the intraday margin requirement.
For example: If one's account has a balance ample for intraday but not enough to maintain a position overnight, then you cannot hold the position overnight (overnight = outside the day session) then you must exit the trade prior to the end of the day trading session.
This is *important:* Every trader should contact their broker(s) and make sure they understand the amounts and the rules of their margin requirements (those amounts can vary a bit depending the broker's policy.)
Each trader has an obligation and responsibility to understand these requirements before they trade - and details can vary a bit per broker. Talk to your broker and make sure you understand the facts and legal requirements before you trade. It is your obligation to do so before you trade.
About your other question on time frames (time increments on charts): I always use 5m candlesticks. Constantly changing the parameters, types of indicators is what I call 'hopscotching'--- I advise against doing that.
Realize there are no infallible trading system(s).
Don't hopscotch from one technical system to another; it's impossible to learn that way because there is no consistency and you will sabotage your own learning.
I highly recommend you watch this: This is a link that opens a video to the place where I discuss "hopscotching":
ua-cam.com/video/8DPAyOP_L2M/v-deo.html
You may wish to go to the two Beginner's Playlists and some of the other links here: good luck to you - Don
✅ 100% Live Trade Playlist: If you’d like to see some LIVE TRADES. Here’s a FREE New Live Trade Playlist for you, check it out: bit.ly/PlayListNumber3
✅I use the click n drag to move my stops and open trades with a Bracket/OCO order. Here's a short video on the broker I use on my channel: ua-cam.com/video/HMTt6gvzif0/v-deo.html
GET READY TO LEARN THE BASICS RIGHT NOW:
****FREE Training Videos at BEGINNERS PLAYLISTS: EACH PLAYLIST HAS FOUR 10-MINUTE VIDEOS
✅ "BEGINNERS" PLAYLIST #1: THE BASICS: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
✅Using Stop Loss to Create "Free" Trades. ua-cam.com/video/pUvrBM9j5t0/v-deo.html Welcome to the channel.
Explaining and your speaking skills are A+
However, lack of explaining what got you into this trade exactly!
Was it MACD moving certain amount? Was it time of day? What was the wind exactly?
What made you decide to ask for the target? Based on what?
Do you change the point target daily? If so, based on what?
Finally, given market volatility, your continued moving of the stop upward ( trailing stop) would surely bring your losing ratio up from the 40% you kept referring to!
What about percent of account value to risk and profit? What size?
So many unanswered questions and points left out!
Please explore the channel and more videos to get additional information.
There are over 160 other videos, a beginner's playlist (two of those actually with 8 to 10 videos on the basics.) None of those 160 will answer all questions. Welcome to the channel and thanks for your comments. - Don
✅ **BOOK** : Over 475 FIVE-STAR Reviews - Join thousands who have use this book to get a fast start: Check out the Amazon listing (free Prime shipping) at this link: bit.ly/daytrademicros
FREE Training Videos at BEGINNERS PLAYLIST:
✅ "BEGINNERS" PLAYLIST #1: ua-cam.com/play/PLv6Fasp51T9L99jOWgLdB2ZylXpzaXByo.html
✅ "BEGINNER PLAYLIST #2: MACD WINNERS" ua-cam.com/play/PLv6Fasp51T9JGVQCNmRaliEbIpzLQh0od.html
✅ Use *BRACKET/OCO Orders* and How to Configure Trade Screen
bit.ly/BracketScreenSetup
✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3
**Must See** ✅ Rule #1: bit.ly/RuleNumber1
✅ Join our 20k+ subscribers FREE & Get notified when new trade videos are posted each week: Subscribe Now at this link bit.ly/3mTTMTn
*Free Trade Simulator*
👍You can be practicing in only 5 minutes.
✅ Here is a FREE TRADE SIMULATOR with no ads and that will keep your trade ledger for you. It is FREE for signing up (no credit card or personal info required) at the CME (Chicago Merc Exchange) at this link: bit.ly/TradeSimulatorFREE
Good evening Don,
I've been set up with TD Ameritrade for futures trading. They require 1k of leverage for 1 contract. I get to start on your book this weekend, so forgive me if this question is answered there. In this scenario, if I have say 1200.00 in the account. I could buy 1 contract but of course, if it falls under 1k, I would be margin called. Question:. If I buy and sell that 1 contract same day, would I be able to purchase 1 contract immediately afterwards, same day? Does it clear immediately or in this scenario of buying 1 contract, am I done for the day, without additional funds? Potentially risking a margin call or not being able to purchase another contract without funds being clear. Hope I explained my question clearly enough. Thank you
Hello Lawrence. I cannot speak on behalf of your broker. You should always contact your broker for definitive answers. I'm sure they will be glad to answer your questions. These policies and amounts often vary broker to broker. Brokers welcome such questions and they strive to make sure there are no misunderstandings.
Speaking generally not to your account/situation specifically: Futures trades normally do clear immediately and when a trade is closed, funds in an account are available for more trading.
Welcome to the channel and thank you for your question.
Good luck to you - Don
Mr. Don - you do a great job. I have a question/statement so to speak.
I trade with a Prop Firm on NinjaTrader. And, i can not get my stop losses as tight as you do. I get stopped out and then it shoots in the direction i believed it would go. Is that a NinjaTrader thing or my stop losses are to tight? I usually have my stop losses at 12 Ticks
I've never used that platform, so I shouldn't comment on it. I use, as you see in my videos 5m candlesticks. I dont' use tick charts.
Sorry for the noob question but I'm just not clear on one thing... If a ES Micro cost $50 to put on a trade, does that mean I need a 10 point move just to break even? I'm a little confused on that. Thank you and happy healthy.
No, not at all. You are you said are a noob, so getting the basics and terms down is the first steop of course. -Don
The links below should help:
✅ **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
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
Don how do you get the profit/stop losses on the chart the you’re adjusting? Great content!!
see if this answers your question Matt. here a link to a video: ua-cam.com/video/HMTt6gvzif0/v-deo.html
Welcome to the channel.
✅ **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
✅ *NEW* LIVE TRADES PLAYLIST #3: bit.ly/PlayListNumber3
FREE Training Videos at BEGINNERS PLAYLIST:
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Let me know - Don
@@DayTradingMicroFutures Thank you… just ordered your book.
Doesn’t using a $20 stop loss go against the a typical risk reward ratio?
Mr Tommy - I just started trading Futures. How or what is a good risk to reward for trading Micro-eminis
@@03tglasgow You shuldn't need more than 5 points max drawdown. You can snipe efficient trades with about a 3-4 point stop loss and go for 8 or 10 point wins pretty consistently. giving you a pretty easy 1-2 risk reward. But do what makes sense. Dont listen to me
@@shookmusic3277 @03glasgow shook is right. As I’ve learned it also depends on the probability ility of the setup
For sure, there is no 'formula' that fits all ocassions. How could there be?
Is 500$ ok to start with? Someone said minimum 5000 $ to risk 1% per trade with a stop loss of 10 points if needed?
A COMMENT: You can start with less at some of the other brokers - but it is really tough to start with just a few hundred because if you have a few losing trades, you have to stop until you make another deposit. Something in the $3k to $5k range is a good starting amount and is a better experience.
Found this on Tastyworks:
Futures and Options on Futures
Customers that traded any futures or options on futures will receive a Form 1099-B Futures, also known as a Substitute 1099 Statement. Your Futures 1099-B will list your Aggregate Profit or Loss from futures trading. Similar to cash-settled index option, the number you need to report is your Aggregate Profit or Loss (line 11), as illustrated below.
Good to know, thanks.
@@DayTradingMicroFutures Thanks for another great video Don! David's question got me thinking - do you have any videos or resources on filing taxes as a future trader? Best regards, Mike
@@mlg0303 No, Mike... just ask your broker what kind of (format/type) end of year reports you will get. Then take that info to your tax person or someone qualified and ask away. (There is a lot of misinformation on the web as you know, so find a trustworthy source please.) Good luck - Don