The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Hold off on the real money trades. Im not even doing them yet. I want to honestly track for a week or 2 and then see if we have anything. I think trading resumes at 5pm cst. Ill be on here to follow it and to set up trade 1. Ill try to keep it very simple. My system is easy to understand and very very easy to follow. My big issue is being able to follow closely and not being able to move my stops as i need to. Sometimes im unavailable for 1-2 hrs during the week. My system is very mechanical, once you have it down, it becomes just a point of moving your stops as the market moves. Unless you hit the big 40pt winner, the market will take you in and out with small losses or wins along the way. Falcon Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Ted, dont go on youtube and follow those daytraders. Most of them are simply scalping pocket change. Out of anything you have ever done, trading this market could be the most lucrative. The volume is very heavy, you do not need to worry about slippage or thin volume as you may in other commodity markets. Dont worry about margin, i can show you how to get in and out at the break at 3:15 cst. So you dont need a tremendous amount of money to trade this but we must avoid choppy markets at all costs. Thats why i use 3 losses in one session as a point to call it quits Max loss on a trade is $650, max win on a trade is $4000 but almost all 99% will be losses under $650. As the market moves in your favor, u trail the stops, this is what reduces risk. Lets look at an example of a trade. Lets say we enter Short, we sell 1 ES at 2815.00, so we are short from 2815.00. We need the market to move lower, since we are Short. Our profit target is at 2775.00 a target of 40pts lower. At that point, we have a buy limit order. You have to get this terminolagy correct. At 2775.00 we would take a huge 40pt win. But back to our entry, once entered we also set our stop loss at 2828.00 or 13pts above our entry. This is our maximum loss on trade. But when we enter at 2815.00, lets say the market moves down to 2810.00 or 5pts in our favor, at that point 2810.00 or risk or stop loss is moved from 2828.00 to 2823.00. Thus our max risk is now only 8pts and not 13pts. You have to understand what im doing here, reducing risk. Thats what it is all about. One of our big wins can make up many many losses. Ok lets say we are short from 2815.00 and the market falls to 2802.00. At this point our trailing stop loss or risk is moved down to our entry of 2815.00. So it is at this point that this is a free trade, meaning our entry is equal to our exit. Got it Falcon Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Also because of the world that we live in, we will close out all trades no later than Friday's close, cant risk WW3 starting and its harder to work the margin over the weekend break. Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Go to (emini trading strategies.com) seems to be some good basic info there... Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 What kind of money would I have to start with if I wanted a chance at the high water mark of 4K? Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 You can read about how little or how much you will need... Let's paper trade this a week or two and you will get an idea... You can educate yourself in a couple weeks but you would be trading for yourself.. I can set the trades up for you but you will need to trade it... Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 I’m not asking you to do shit for me besides teach me.....I’m a big boy I’ll get down on my own Quote Link to comment Share on other sites More sharing options...
Jimmy Hoffa Posted May 3, 2020 Report Share Posted May 3, 2020 TK, Open an account at www.ameritrade.com, you don't have to fund the account. Then, download their ThinkorSwim app. At that point you can then visually see these numbers moving and what Falcon is saying will make a lot more sense. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 As usual Jimmy is a voice of reason......thanks pal Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 I know, I just don't want anyone to rush into trading. I'd love for you to be able to trade and follow this for me.. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Jimmy/Falcon.....which one am I doing here? Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 You will be trading futures.. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 I know this is my money so my decision but looking for advice Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Your brokerage account Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Need help hurry..... gif upload Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 I do t want to Time Out and start over Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Just the first two I know the rest Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 C’mon Falcon One (1) Time!!!! Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 Standard marginLimitedSpeculativeLess than 1Stocks or none I suppose Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 You didn’t answer the first one (1) it already had the two (2) in Green I didn’t put them there Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 That first one make sure u check futures Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 I’m all set up thanks for the help guys..... Not sure if this means anything to u Falcon Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Ok I’m going to review the sites you’ve mentioned and see if I can get up to speed on the easy to understand stuff.... I’ll check later at Ameritrafe to find the graph Quote Link to comment Share on other sites More sharing options...
The Falcon Posted May 3, 2020 Author Report Share Posted May 3, 2020 You wont be trading options, so no selling them either. Your just trading the ES futures market. Paper trading demo only. Do not fund anything. Quote Link to comment Share on other sites More sharing options...
Teddy kgb Posted May 3, 2020 Report Share Posted May 3, 2020 Falcon....you sound worried that I’m going to fund and lose all my money before I know what I’m doing.... Trust me it ain’t going to happen....I’m going to try to figure out what’s going on and then have no problem paper trading for a few weeks... I’m all good dude Quote Link to comment Share on other sites More sharing options...
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