I created this page to give you a summary of what I trade. And maybe why I trade it. That way, if you want to trade something that I don’t trade, perhaps I can give you back your time.
I trade NASDAQ 100 Futures. Currently, I’m trading micro contracts (MNQ) but will move up to full e-mini contracts (NQ) as soon as I build my risk budget. I don’t trade anything else at this time but might move to other equity futures in the future.
I also trade options for income on a weekly basis but I won’t cover that here. I have a friend who teaches it 1,001 times better than I ever could, and out of respect for the intellectual property he’s developed. I won’t mention it much here.
My goal is to only trade from the New York market open (9:30 Eastern) to about 11:00 AM Eastern. Staring at screens all day is hard on the eyes and I need to move a lot. Not to mention that I’m finally getting to the point where I have the cash to travel a bit and I don’t want to travel, only to sit in a hotel room all day so I can trade. I don’t live to trade, I trade to live.
I also believe in helping others, hence the change in direction for this blog.
I also think there are far too many people on the Internet who are using psychological manipulation to get you to buy their trading course – a course that, in most cases, doesn’t work. I’ve found a few good ones that I might mention, but my concern is that doing so would send you down the rabbit hole of spending tens of thousands of dollars on stuff that not only do you not need, it also doesn’t work very well (if it works at all).
I’m risk averse. I’m very cautious about taking trades (as I close a trade I should not have taken!). Generally, I’m identifying key levels, waiting for a break and retest of those levels, then entering on strong momentum (e.g. a nice Heikin-Ashi reversal candle).
Greed kills. I only go for 35-40 points profit per day trading 4-5 micros (at least for now). I have daily profit goals and quit after that (unless I get an A+ setup).
I use prop accounts. I only recommend prop firms that I myself have used or am using. Each prop firm is different and you MUST spend considerable time reading their rules, ensuring you understand them, and are willing to abide by them.
Trade on a Sim account until you’re consistently profitable. There’s no point in giving somebody else your money. Just take it seriously; tell yourself that it’s real money. There’s a lot at stake; being able to trade for a living changes your life (and in some cases, might require you to get a life instead of just going to work, eating, and sleeping).
As I said before, I make money trading. Yes, I’ll make money from affiliate commissions if you click and buy, but I don’t count on that money. That’s why I put the links there but don’t really “push” or try to persuade you to buy anything I recommend. You should only buy something I recommend if it’s the right purchase for you.
That’s all for now. This is where I’m coming from so you have an idea as to wheter you want to spend a ton of time here.