Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I want to keep you posted on a couple of public videos that were done last week. The first is Part 2 of of the "Reading Order Flow and Stalking Trades" event. The intent of this session was to actually set up, stalk, take and manage a live trade or 2. It turned out to be a trend day and there was too much going on, so I intend to do another one. You might still find this useful still as I cover my entire approach to stalking a trade.
Here it is:
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
This recording is from December 4th. It is a trader intervention. The purpose of this is to go over a trader's performance and ultimately provide at least 3 imperatives that the trader must focus on going forward in order to see improvement.
I got strong feedback on this video. It looks strictly at performance metrics from our Trade Analyzer (legacy product shown; a new HTML5 version will be released in Q2 2016).
Here are Viraj's 3 imperatives for next time:
Don’t trade until 10:30 or so on Wednesdays
Adjust your R:R so that it is more realistic until you are able to trade more than 1 contract. Then you can keep the 1st lot at the normal R:R and the 2nd lot discretionary or extend it to less than 40 ticks
Keep your trade management scheme fixed. Put the trade on and watch the charts instead of the DOM. You are taking on the risk of putting on a trade but then miss out on the reward by scratching it. Chances are, your trades don’t fail as much as you think
Have a look at the video and let's have a discussion about it:
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
The reason I cut the size down to a 1 lot or do live trades on a $5k or 10k account is because I have to hold myself to the issues and approach that I would suggest for those listening. It is a bit like those health magazines where you see a guy who is totally ripped showing you how to do a squat, but he is using 50 lbs because that is what is relevant to the reader when he can squat 500 lbs. I'm not saying I'm much better, but it is not as relevant (based on feedback I got) to swing 20, 30, 40 lots when few can do so.
I hope that makes sense.
PS: 1 lots are much tougher to manage than a 40-lot.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
I am sorry but I heard you mentioned many times in your webinar that its hard trading with 1 lot and you mentioned this recently in Trader Intervention you with TopStep Trader. For beginner with $5K account can choose different instrument other than ES with smaller tick size for managing risk.
Thanks FT. How do we create a fixed trade management scheme for each markets? I'm guessing trading a 2-lot and 3-lot will have different schemes. Some example would be helpful.
Thank you Morad for all the educational resources you've provided over the years. I've spent the last few weeks watching your videos from various sites and reading your threads.
Can anyone please tell me what the indicators are in the windows bellow his charts? I think the part of the third indicator window is cumulative delta. The second indicator window shows the rotation size but I'm not sure of the indicator name. I'll be using NinjaTrader, so I'm looking for equivalent indicators as I'm just starting out.