Hi Lance,

Thanks for posting your afternoon trade!

I just enjoyed listening to your first video about mistakes. Very informative. Hopefully, others will pick up on it.

One of my traits (possible fault/possible asset needing restraint/self-discipline) is to look for a trade "under every rock". This morning, very early, I came across a video on ADX which I never used nor understood. I only use an indicator for mostly divergence. My 1&2 minute charts have been similar to yours, mas o menos. So, I always enjoy your videos as they are very relatable.

I studied up on the ADX and after applying it to my chart, I was pleasantly surprised that it revealed divergence but more importantly it showed areas of "weak or absent trend".

So, in reference to your 5/7/21 afternoon chart, I reference the period of about 11:12-12:12. During this time the ADX was declining from roughly 18 down to 10. The ADX was in the "pausing" area. So if I was watching price at the 11:11 period, the ADX would tell me that I need to NOT look for a trade. It was at about 12:12 that the ADX started rising indicating a trend starting.

The ADX is surely different that the MACD type of indicators.

Do you have any thoughts on the ADX? It's the only indicator that I have on my chart except the MA's.

Happy weekend from Montana!

Best Trading Book for working through Trading Flaws "The Mental Game of Trading" by Jared Tendler

In this video I explain some details about my Livestream youtube trade session that is scheduled for Thursday June 3rd 2021 at 9:25 am. I will also be trading a funded trader evaluation account on the Livestream. In the video below I explain which company I have chosen and why I am trading a combine instead of just my regular account. Tomorrow I will post the link to the Livestream on this thread.

Holy crap that all sounds amazing.

Thank you for all your efforts!

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In this video I explain some details about my Livestream youtube trade session that is scheduled for Thursday June 3rd 2021 at 9:25 am. I will also be trading a funded trader evaluation account on the Livestream. In the video below I explain which company I have chosen and why I am trading a combine instead of just my regular account. Tomorrow I will post the link to the Livestream on this thread.

Hi Lance,

Please correct me if I am mistaken, but a while back I read somewhere that if you trade a combine, that you no longer can claim "investor status" for tax purposes.

I read that you enter the "trader status" for income reporting.

The beauty for futures trading is the 60/40 rule.

Any thoughts? Looking forward to your live stream.

Your comments on these companies reminds me of the gold rush in Alaska. Great wealth was acquired by those that sold to the miners! I personally know a family that has enjoyed generational wealth from the sale of goods to those miners 100 years ago.

I really didn't know that about the taxes. I just tried googling it but nothing much came up. To be honest, I don't have a lot of confidence I will pass the thing my first time out..since it's a different style that I'm used to. Also, i won't keep trying over and over after this to do it. I'm quite happy trading my regular account and this is just a little challenge I thought would fun to try.