Answers to your day trading questions
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- Опубликовано: 6 фев 2025
- #traderlife #livetrading #howtodaytrade @DTND
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Not financial advice, just my opinions based upon years of experience. Answering your day trading questions.
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2:22 Using the DOM
4:12 How far to look left
5:17 placing stops/targets manual vs set
6:50 tick chart ES vs MES
9:45 Tradingview for live trading
10:27 Trading on a Mac
11:48 leaving money on the table
12:44 how to pay yourself and move money around
15:09 how much capital per contract and why
17:03 market noise and stop loss sizing
17:44 Scaling out
19:34 Canadian issues trading futures
20:41 monthly costs to trade live
23:55 taking ownership of your own trades
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I like this channel a lot. Glad I found it. Just good “old fashioned” humble approach to the craft. No “lambos and 1,000% return in 2 hours” nonsense. Thank you!
Thanks for being here and glad you’re enjoying the content!
Appreciate the response Matt! I am happy to report that since that day I have become much more disciplined and limit myself to 3 losses per day, and a 5 minute break between each trade. I never realized how much I was breaking my rules until I actually started to follow them and results are starting to show. Certainly have a long way to go still but any progress is good progress. Cheers
Nice progress!! Keep reflecting and reviewing, growing, and you’re going to make it! Cheers
@@holdReset Thanks Rese. Glad to know there is honest people in the trading world🤙
Fantastic Shea, keep it up! Onward and upward
Hi Matt. Super stoked that I got mentioned on your channel. Thanks for answering my question, Keep up the great videos.
Hey you’re welcome and thanks for the questions
Thank you for the video Matt! Always excited for the Q&As!! Glad I was able to offer something as well.
IBKR is making a new platform. They emailed clients for advice. Today I sent them a link to this video suggesting they start at 9:44 and see what platforms a genuine pro uses and why. I also suggested previously that they might sign up for a free Sierra Chart trial and see for themselves all of SC's complexity and steep learning curve that many ES traders are willing to deal with in order to get what's really important to them as day traders. It would sure be nice if IBKR could compete with Sierra Chart. IBKR has exceptionally strong financial stability for one thing. And that's a big one thing. lol
Really appreciate your content!
Thanks Scooterman! Glad you’re enjoying it. I’m in eastern Ontario near Ottawa
Really great Q&A session, thanks as always Matt!
Thanks Scott!
Thank you Matt for answering my question!
You’re welcome!
Great video Matt! I use multicharts with 5000 tick chart for general direction and a 2500 tick chart for entry
Nice! Is that for the mini or micro?
@@DTND micro, sorry i forgot to clarify
Thank you for answering our questions.
Anytime Lama!
Thanks Matt for addressing my question. Do you use an s-corp or llc? I do something similar for my construction business never thought to donit for trading. Amazing
Hey Nic, we don’t have S corps or LLCs here, just sole proprietorships, partnerships and incorporated companies, of which I’m the latter.
That happened to me today.. went long on pullback of double top and resulted in loss... went short after a drift and resulted in breakeven... went long after sharp move and it turned out to be a lower high of first trend from double trend... should have paid attention to trend line and not just keltner channel and level... blew up my yesterdays gain... back to breakeven for this month...
Sorry to hear that Dipak. The markets are tricky right now but starting to improve. Break even is ok, it’s still early
Matt, do you think it’s possible to put the audio feed for 500 lot orders of your time and sales into your videos? Don’t know if that’s possible it not but would be cool to hear in real time
Cool idea Grimminator, I should be able to do that
Thanks, Matt! I watched your video about margin (e.g. 1 contract of ES being something like $250K). So, my question is, what is the worst case scenario? If I am long with a 5pt stop, but some terrible black swan happens and we have a massive flash crash, how much am I likely to be out in a realistic worst-case, fast draw-down scenario? Thanks!
ES-Mini contract has $50 per point, so with a 5pt SL your loss will be limited to roughly $250. I say "roughly" because of slippage, and in the event of a sudden cliff/pop, the slippage can be significant, and more contracts you have in the position, the greater the effect will be. With just one, I don't think you'll be able to lose more than 1.5x-2x of your actual stop (and even this figure is exaggeration - the futures market is very liquid). Still, the swans are rare, and you have equal chance of losing on them as well as gaining on them.
What part of Canada do you live. I used to go to Millbank On to visit a friend. Now I live in Sarasota Fl with my family.
Hi there, can you share with me what camera and mic you used in this video. I am on the market and have no idea what to get. Thanks so much:)
Hey Tyler,
On this video I used a Sony A7IV and rode video mic pro plus boomed above. I often use a sennheiser mke2 lav for sit down videos like this too, or record the audio on my akg C535 into the computer, it’s just more of a pain to sync after. This was a quick setup but turned out ok.
@@DTND Yes i was looking into that sony camera recently and i think that will be my purchase. I had no idea how much money was needed for a good audio and video setup. thanks for your recommendations!!
I have a hard time sticking to one instrument and one session to trade, can you give me some tips?
Trade what you like. Nothing wrong with multiple instruments
Anyone who trades with a kitty cat is a good man 😅
Ha thanks John, she doesn’t really give me a choice