This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I don’t know yet how he does it, but he does call the trades out in real-time. If I have time to watch it, and verify it, I’ll post the link.
This is a fairly typical day for the ES with his (free) system.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I quit! Not trading of course. Tonight I removed the workspaces I use to trade oil. One of the reasons I chose this instrument when I started trading futures was the volatility (read potential). However, the liquidity on the miNY crude contract is terrible.
With the recent swings in the indices, there is plenty of opportunity to make money. Besides the liquidity, the reward:risk ratio seems much better.
A few losing oil trades, and I’m down huge which affects my pysche. We’ll see how long this lasts.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This trader made $14,000 scalping the DAX futures over the course of about an hour and a half. And to think, just yesterday someone left a comment on this blog that no big money can be made in scalping! I would say, there’s plenty of money to be made in every trading style, provided you don’t suck at it.
Because of youtube video length limits, this video is in 8 parts (you can go to the trader’s youtube page to see all eight… I’m only embedding the first part here).
Interestingly enough, I did not see one losing trade in this series of videos. I wasn’t watching very closely at some points because I was also eating and checking email… so there might have been some. Either they were all winners, or at least the vast majority were. Gotta love that.
So, is the trader good, or is the trader lucky? Well, there’s no sound, so you have to interpret the charts to see what kind of strategy is in use. The most interesting part that’s plainly obvious is the way the trader scales into trades as they run negative. It appears to be part of the plan to scale in, but I can tell they were sweating on a couple trades, because as soon as they went positive on the bigger positions they got right out. I wanted to see a trade get stopped out just once, as proof that they weren’t willing to double down indefinitely, but I didn’t see one.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I got caught in the downdraft on a long OMNI trade. I was bottom-feeding after the drop, and found MATR for a quick gain.
ES OMNI Trade:
MATR:
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
ES OMNI Setup:
RACK:
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I have been trading OMNI’s Nasdaq and S&P 500 e-mini futures recommendations for just over two months now. As I have said in previous posts, Oscar’s S/R levels and directional calls are awesome. I first started using them to trade SPY, and then I went over to trading ES and NQ. I still watch SPY while trading futures- partly out of habit. Mostly due to missing entries, I haven’t taken every OMNI trade. Be advised that I usually used my own exits, so these results differ from Oscar’s. Trading futures is one tough racket, as acknowledged by Ugly. Thankfully, I managed to make a profit over the last couple of months.
| Total P/L: | 7.23 R |
|---|---|
| Trades Taken: | 22 |
| Winners: | 13 (59%)(smallest winner $155) |
| Losses: | 8 (3 less than $100 trading 1 ES contract) |
| Expectancy: | .33 R |
| Biggest Winner: | 2.0 R |
| Points gained: | 54.8 (1 contract each trade) |
| Biggest Loser: | -1.06 R |
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I missed a great OMNI gold setup today. Here is my ES OMNI trade:
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
In no way am I bashing the OMNI here. Zoomie has made some solid trades by using some of the information, and he has learned a lot. However, I saw this (old) article, and think that its worth reading.
The move comes a year after Carboni failed to make enough money from trading to pay for his seat on the exchange, began missing mortgage payments and racking up thousands of dollars in credit-card debt.
Personally, I commend anyone that takes the time to offer their insight into the markets - especially when its free. Although, it does appear that it won’t stay that way.
“That’s when I realized these YouTube videos could really be a viable business,” Carboni said.
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Trading sure looks easy after the fact!
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This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
ESM7 OMNI Trade:
VCLK:
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
After reading TapeWorm’s thoughtful post on trading futures, I felt the urge to offer up my response.
TapeWorm’s main premise is that trading futures is no different from trading stocks in the sense that the chart patterns that exist in stocks also show up in the various futures markets. I do not disagree with this rationale, since I have seen an example of it with my very own eyes. Finding a valid setup, waiting for the confirmation, picking your entry level, selling when it hits your profit objective or stop - in trading futures, these are done no differently than when trading stocks. So, this aspect of futures trading itself, is no harder nor easier than equities trading.
However, TapeWorm also pointed out one difference between trading futures and trading equities, and that is leverage. How this additional leverage is used inevitably ties in with trader psychology. As for the psychology behind futures trading, well, I would say it is similar, yet different at the same time. It is similar in the sense that similar chart patterns exist in both types of trading, but different in the sense that the added leverage magnifies everything a bit. From my point of view, the additional leverage from trading futures actually makes a big difference. I would imagine that Forex trading is different as well because of this leverage aspect. Let me explain with a couple of examples….
In Equities Trading, I could get away with using mental stops, if you are looking for a specific setup, have a specific price objective and a specific timeframe in mind. However, you just wouldn’t be able to get away with using mental stops in Futures Trading. Mental stops won’t work at all, and I know because I’ve tried! I don’t have any hard data to back this up, other than showing you my trading statement containing losing trades from when I used mental stops.
I also had problems with patience, discipline, revenge trading, and overtrading when I was trading Equities, but somehow, I managed to sweep them under the carpet and not have to really deal with those problems. If I overtraded on a stock, I would somehow make up for it the next day or two by finding a different stock that went in my favour. However, the additional leverage that comes with trading futures shone a painful spotlight on these problems that cannot be ignored. Ignoring your problems just isn’t an option. Period. You are trading the same contracts, the same markets, and there is nowhere to run, nowhere to hide from your problems. You must come face to face with your trading weaknesses, and find a way to address them or “die.”
I guess what I’m trying to say is that it inevitably all boils down to the psychology behind trading, and that, in my opinion, is what makes futures trading different, and perhaps, harder.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Let me start by stating I lost $241.30 (commissions included) in the oil markets today.
Now I’m going to make a statement that I have believed since I began my quest to trade futures successfully. Futures trading is not harder than trading stocks.
My simple proof is these two charts. Pick any day, and the comparable stock index will trade the same as the futures counterpart. The main difference is leverage. If you can trade one, you can trade the other. My advice to anyone interested in learning to trade the eminis is to practice with a simulator, and/or the appropriate stock counterpart. SPY for the ES, DIA for the YM, and QQQQ for the NQ.
I keep reading posts on other blogs that talk about how futures trading is cut-throat, a zero-sum game, or whatever. They are right on both counts. Daytrading is cut-throat if you want to be dramatic. I also agree with the point about the zero-sum nature of the futures markets. However, if your time-frame is intraday, I don’t see how that matters. The only two requirements to trade any market are volatility and liquidity. That creates opportunity.
If a bear flag is printing on the NQ, it is also printing on the QQQQ’s. If you can trade a breakout on the SPY, you can do it on the ES. Leverage is a double-edged sword. The only difference between trading the different vehicles is the amount of money you will win/lose. So if you have a desire to learn to trade the eminis, start off trading 100 share lots of the stock counterpart. Your losses will be limited that way. Once you can successfully identify patterns that offer you an edge on a consistent basis, switch over to futures. If you find that the increased risk is messing you up mentally, then go back to stocks for a bit.
I have the luxury of not having to trade to feed my family. When going through a drawdown, I can always revert to paper trading. However, Phileo made the switch, and he is feeding his family quite well even with the added pressure of being a full-time trader. As far as I know, he jumped in with both feet as I did. Looking back I probably should have traded the QQQQ’s first. However, if you do that and are not a full-time trader there is one major drawback that I can see. Without the ability to claim Trader Status with the IRS, the wash-sale rule will be a nightmare if you make several trades per day in stocks. In fact that is one reason why I have not traded a stock in over four months.
If I’m wrong about my basic premise that futures trading is no different, then its only a matter of time before I’m broke, and publishing a porn blog (with ad revenue). If I’m right, then I will continue to trade the patterns that I see over and over. Any problems I have had trading futures has more to do with me than the instrument I chose to trade.
In no way am I trying to convince anyone to trade futures. However, there is a safe way to do it without jumping in with both feet.
On any given day, they look the same to me. But then again, I’m no rocket scientist. Maybe Prospectus (who is a rocket scientist) would like to give his thoughts. :-)
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I found another benefit of Wallstreak today that I didn’t even consider. As I was watching the market, I posted my interpretation of the market, and what I was specifically eyeing on my screen. The moving averages, indicators, or whatever else I use may not be of much importance to many traders. However, giving the play by play helped me immensely. Not only did it help me crystallize my thoughts, but it gave me something to do besides push buttons to buy and sell. For those who trade the ER2, Ugly is there to give his thoughts. I seem to be stuck on Crude, but am trying to open my horizons.
I would encourage everyone to at least give it a try.
Btw, hopefully Richard will be gracious enough to once again provide the link. If Phileo, Prospectus, or Zoomie reads this, send me an email. For some reason, I can’t see the tab bar where I can post a link anymore. Maybe one of the other contributors that don’t use a Mac can help me here.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I love this idea! Come check out Wallstreak over at Ugly’s. He even included a tab for futures. To quote TraderGav, “the real man trades Futures, his son trades Forex…”
Btw, it updates automatically. You don’t have to constantly hit refresh!
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Gav and Ugly and the rest can’t fool me anymore… futures trading is actually very easy! I’ve seen the video:
You just wait for the chart to turn blue and buy 30 contracts. Why didn’t I think of that?? Between that, and the tax advantages, I have no idea why I am still trading stocks!
No wonder CalTrader has completely disappeared without ever performing his motivational futures trading demonstration… his charts must have turned dark blue, and now he has probably retired. That lucky SOB.
Any of you futures traders that are having trouble making money, make sure you have turned on your “blue candles” option.