Love the beginning of the video. That huge sell-off was is a nearly 20% unemployment rate, 3.3T in government spending that did nothing, millions of evictions, a massive mental health decline due to lack of job security paired with financial issues, exacerbated by healthcare costs and a spike in fear of healthcare facilities.
Yep and Nancy and the gang made sure the Kennedy center and these foreign countries got their money while americans got 600 dollars. Despite the recommendation from the President that was much higher. Nancy never budged on the itemized deductions which is why taxes still suck. And on ad nauseam.
Also the two legged pullback trap (second entry short) trap you tried @6:00 was a way too early entry, you should be entering one tick above the bearish signal bar for the second entry. That is where most of the stops would of been for shorters.
I didn't understand the entry on the first setup. Doesn't look like the typical two legged trap/pullback you normally enter on and considering it was probably very close to 50% Fib level, couldn't it just as easily have been a retracement and continued the down trend? I'm a failing futures trader but just trying to understand.
I saw the email that day - Margin requirements are now 5x normal size. Next step for me was to close NT8 and take the day off! Thanks for the videos and ideas
You reminded me to scale down my stock options contacts, usually I trade with 5 but I started doing 2 now a days. Market is crazy, I trade SPY most of the time, and I make $150-200 easily everyday but now a days making $100 is very difficult due to high volatility.
what i've been doing recently to compensate for this volatility is scalping a 3 point target with a 6 point stop. A good bit of risk, but in this current market it's unavoidable. As long as you're reading it correctly it shouldn't matter because the math works out the same
Glad you were honest about taking that 1st trade bc of you missing out on that initial sell off. Not enough ppl take losses and the psychological aspect of trading into consideration. Its mentally draining seeing stocks going against you and its something to keep in our minds at all times to make better trading decisions
Michael Chin for sure. It was comforting to read that you had multiple red days starting out too lol. Seems almost unavoidable unless you spend a very long time practicing. How long did it take you to make the turn to green?
Hey Michael, I just wondered if you could share how you keep a runner on? Whenever I set my orders, it closes out at 150 without keeping that extra 50 going?
Don't get worried about the big drops and losses. The primary goal of the market is to hurt as many traders as badly as possible at all times. The market can and will takes your lunch money everday. Everyone should understand that. I enjoy your videos though.
I am learning much from your strategie, trying to implement it for my own trades after being too reckless for a few days. Question if I may: why at 8:37 did you not just stop the trade instead of waiting for the stoploss to kick in a few points lower. I see using the stop loss as a safeguard but maybe sometimes overriding it if I can see danger ahead and I want to end the trade. Thank you for your thoughts of this matter.
It does create inconsistencies and go against the logic that your emotions shouldn’t interfere while you’re only executing your rigid rules , guess what would happen if you exit a trade early just to see it go back to your profit target , not you get sad and create self doubt which is bad for psychology
Hey Michael, do you trade with 25,000 dollars in your account, or does your broker allow you to trade futures without being held under the PDT rule? Also can you make a video of you actual putting the information in for the option and show that screen?
Jacob Popp pdt doesn't apply to futures trading. Riley Coleman has a great video on this. You can open an account on Ninja Trader for a $400 deposit with a $50 margin for 1 MES contract, $500 margin for 1 ES contract. Best to practice on a demo account atm since the market is so volatile right now
I just set up a live acct today using NT's continuum option. Until I get familiar with the platform, is there a setting I can use so that the trades I place are "demo" or "simulation' trades? What does the "Global Simulation Mode" option on the tools tool bar mean? Not sure about how to do this. Maybe I just have to connect to playback or something. Anyway, just thought I would ask since I don't seem to be getting any info from NT. Thanks
Hey Michael! I have a quick question, usually in your videos you say that the market tends to follow the trend that was set before the market opens. Which today would have been extremely bearish right? So I'm a little confused about how you knew that the market was starting to trend up and why you decided to buy. I appreciate all of the help and I absolutely love your videos
Usually after a large gap down there's going to be some type of short covering rally. as sellers cash in on their profits. We saw just that in the morning as a number of green candlesticks started to accumulate and push higher
Matthew Krier also markets tend to recover a bit after hours if you choose to trade then but beware volume is usually a lot lower during after market hours
Michael, Quick Question: for the RUNNER move, it was just a buy and a limit sell? Even though its risky, in a volatile market or brokerages doing shady moves, knowing that I can make a calculated gamble and possibly catch a huge bull or bear run is another tool in the bag. I missed that same trade! the setup seemed good, and when it hit that stop-loss, it shook the confidence a little. Thank you for the reasoning, I just chalked it up to a super volatile market and day. Its tough when the candlesticks are really small or large because any sort of unexpected volatility just kills. Keep up the hard work, your videos, explanations and expressions are relatable!
No worries Luke. This market isn't the best for this strategy (good thing this almost never happens). And are you referring to the first trade? Usually I have a scalper and a runner, but everything was moving so fast. When I scaled back to 1 contract I forgot that that template would remove the runner
@@MichaelChin Im referring to the last trade. where you made a buy and a limit to catch that big bull run at the end of your video. since brokerages are upping the margin, this could be a good way to catch a huge swing and get a slight edge on the market.
Luke Waki brokerages are upping the margin bc of higher than average volatility meaning a swing out of your favor results in a larger loss. Trust me the brokerages have already taken your theory into account that's why they upped the margins. There is no way of getting an absolute edge on the market but backtesting and high probability strategies increases your chance of successful trading
You talk about margins increasing - you're young and probably your first experience with that. Margin for futures is set by the CME, but brokerages have the ability to set it at whatever they want. The CME did raise margin requirements during March but only a few percent. It was the individual brokerages who doubled, in some cases tripled, quadrupled it or just disallowed futures trading all together. But this is what happens during black swan events and it's not anything new, but it can be scary. I always keep 3 to 4x the margin requirements in cash in my account for just such instances. And though they are far and few between, they do happen. So for example, in my futures portfolio, before march my margin requirements were a bit more than 9K for all my positions so I kept about 28K. When the shit hit the fan, and my margin requirements went from 9K to 18K, I shifted more cash to bring me up to 54K. As margin reqs. begin to fall, I'll likely keep the cash there and then wait for a reversion to the mean on my futures portfolio profitability then press from one contract to two.
With a beginning speech of commenting about market down so hard that hurting a lot people, can see that you are kind hearted person❤️. Good job my friend to share all the techniques of scalping and day trading.
So I don't know if I fully get this but if you just had 2 contracts and had played that big huge red candle all the way.. would yoy have made 59.08×50 = 2954 dollars a contract? Roughly?
I am on the edge of buying your course on scalp trading. I am new to the trading and I do have capital so I think this is the route for me. But my question is IF I do go ahead and do your course dose it have everything I need to learn about scalp trading from start to finish? (I have a masters degree, just letting you know I can learn)..
The net gain or loss from trading futures contracts is treated as 60% long term and 40% short term no matter what the holding period. See IRS tax form 6781 --Section 1256 Contracts.
4 года назад
I can recall a time when one of those alpha anomaly spikes happened some years ago. I had a buy trigger w/ a cover at around 12 ticks (3 pts) for the ES and a long candle price spike happened. My buy order triggered, but the price action blew past my sale limit cover order (slippage). I'm in the black $500 instantly and quickly closed out the position. I got very lucky because if I was shorting, then I would have easily been on the wrong side of that trade and in the red $500.
Great work man!! As far as these big down days in the market, I honestly couldn't care less about other people's losses bro. This is how the world works, and not just in finance, but in nature as well. A lion will always pick a baby deer, because it's the easy target, it really doesn't care or think about the baby deer, it only thinks about food. Another example is the funeral business; they make millions of $$ off of other people's grief and losses. Now, that may be a little bit of a harsher example, but it's the same thing. In the markets, I really don't care about how much other people are losing, because that's the risk they're taking by getting involved. In fact, I would love to take their money, as I need it more than they do anyway. (I can't wait for the haters on this comment LOL)
I am a real newbie to investing and I don't know which road to go down. Are there any reasons you would share why you would prefer day trading stocks vs. option trading? Or if you would be so kind as to please share which way you would go personally if you had an account of only one to 3 thousand and you were looking to learn the easiest and safest way to trade to generate in time hopefully an extra $1,000 a month, I would so appreciate it.
I also swing trade on the side with options. It all depends on your personality. Do you like fast paced quick action like day trading? Or would you rather play longer term positions. Both have their merits.
Excellent info. Thank you. On my paper trades of /ES I am not up or down $50. I am either up $42 or down $107. Am I doing something wrong? Thank you again.
Assuming random movement, all by itself, risk-reward influences win rate. A high win rate is best for trader psychology and high leverage approaches. A 5% of ATR target with a 1:2 to 1:1 reward to risk is pretty normal for scalping small time frames.
How do you set up your tp and sl. Its so fast like you have using hotkeys to automatic when you set up your tp and automatic that you have tp and sl. How ?
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I am practicing with the Ninja Demo. Definitely learning in this crazy market. Thank you so much for the content! Your commitment to your approach and restraint are impressive. How does Ninja Trader account balances work? Does the gain on a contract buy/sell go directly into your account? And when does it become taxable? Is it immediately upon trade a part of that calendar year, or upon withdrawal from your Ninja Trader account?
What happens if they change margin requirements without you knowing and you're account balance goes below it. I'm assuming you will get margin call and the fee that goes with it? Kind of messed up that you know what your excess margin is and know your limits and then bam, you get blind sided.
For retail traders going through an introducing broker like NinjaTrader: If you overtrade your margin, the order will just not go through. It will be rejected by your broker. If you are in a position and you go so negative as to blow out your account, the broker will pop you out before that happens. Why? because they are liable if you owe the exchange money.
It might be a dumb question but can you explain how price marging works? Like if /ES margin is 500 , can I trade it with just 500 on my account?, waiting to hear from you Thank you
Today was going to be my first day trading... I woke up early, I opened my demo account to try first, better safe than sorry. Lost 900 in 5 min. Turned off my computer and walked away. The red line never stoped!!!!
El LARRY glad it was a demo account today. I'd suggest to stick to demo and letting the market settle more before going live with a funded account. Keep an eye on the pre market and beware of the profit takes after the initial open sell off
The key to successful scalping is not so-called 2-legged pullbacks. It's figuring out which direction the ES is likely headed short term. Draw trend lines and channels! (A moving average is just a crude substitute for a trend line!) Look for support and resistance levels. Look price levels that the market is attracted to and likes to test. Learn to recognize and understand the implications of chart patterns such as wedges, triangles, ABC corrections, 5-wave moves. Keep in mind that if you risk 2X points to make X points, then 2/3rds of your trades need to be winners JUST TO BREAK EVEN. If you are going to survive Michael Chin's scalping strategy, you NEED RUNNERS. Or else you need to make the risk:reward ratio more favorable. If you risk X points to make X points, then you only need 50% winners to break even. If you risk X points to make 2X points, you only need 33% winners to break even.
I'm a bit confused about how he saw this as well, there are 2 other down candlesticks shown before he put his order in. Maybe it's harder to see because we're so zoomed out.
First, you first decide what direction the ES is headed, short term. Then you take a trade in that direction. Then you make up a bullshit story about trapped traders to try to justify your decision after the fact.
Back in the old days, when you shorted and you were right you didn't go around high 5-ing, or celebrate or congratulate yourself. It was kind of an unwritten rule. You shorted, you were right, you made your money and you kept your mouth shut. When you see a serious down turn people are going to be affected in the worse way: divorces, suicides, physical abuse, drugs, alcohol. All of it. It is nothing to celebrate.
Has anyone taken his and Riley's Scalping Masterclass course? And if so, was it super helpful? I have enjoyed his videos and I'm wanting to take a course, but he hasn't uploaded anything in awhile. I would also appreciate seeing more than just 1 review of people who have taken the course before I put the money down. Thanks!
-mr3puttz - I’m just looking into this strategy and am in the exact same situation. Definitely would like to know if anyone has any insight on this. Is it possible to use this strategy outside of normal market hours?
I will forever be indebted to you 😇 you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment thanks so much Mrs luna lucia,
I invest with mrs luna lucia too , she charge a 15% commission on profit made after every trading session which is fair compare to the effort she put in to make huge profit....
Hey Michael I'm new in your channel but I did already watched 20 or more videos, still can't understand how It does work if you can make more clearly for new starting ppl that would be great
What are the commissions and fees for trading futures? I was paper trading today and profited about $530 but my total fees were about $400. I’m confused where that all came from.
It depends on what brokerage you're using. Also I'm not sure how commissions work for paper trading, but you can usually find your real commissions on your brokerage statement at the end of the day
Michael Chin I’m using tos. Granted, I did make a few bad trades and was negative a few times. I’m practicing again today and doing better. Your videos are honestly helping a ton.
in the whole market, every time someone earns another one loses, just like you said if someone was positioned going down, they made money, and when we trade and earn money another one loses, its just how captalism works, the money is always there, just changing hands...
I talked to NT support after I finished trading that day. Apparently that huge margin requirement was for a couple of minutes at the open before their team realized what happened. So I could have gone back to 2 contracts later in the day
Also your trend lines (wide trend lines) are wrong. You're forcing to fit the trend lines when they don't have enough touches of support and resistance.
It's not his course, he stole it from price action trading system. You can get the scalping course for 100 dollars. Dint buy from these thieves , they're being sued for copyright theft as wee speak
He's not trading the S&P500. He trading a futures contract that is used to hedge stock portfolios that mimic the S&P500 basket of stocks. If you don't understand what a futures contract is, why they exist, or how to participate in futures trading, then you have no business trading the ES or any other futures contract.
i feel terrible about the new traders that tried to dip their feet into these markets and got completely destroyed..like yes, maybe they shouldn't have dived in headfirst, but a punishment like this i think is a bit harsh even for them. it's a lesson learned, albeit unfortunately a much more severe lesson than a more forgiving spanking a regular market would've issued.
@@ellarry5519 i am begging you, as a stranger on the internet: do NOT try this. even seasoned veterans are blowing up their accounts as we speak. for the love of all trades, please just paper trade for now
It's a tough lesson for sure, but sometimes it's a necessary one. I learned the hard way when I first started, and it only motivated me to study harder
The tail does not wag the dog. Neither the US economy nor the world economy are wagged by the S&P500 index or the ES. And not everyone trading ES is a speculator.
That drop is not going to be causing "a lot of damage to the global economy" S&P is purely a USA equity index. Also the USA economy always bounces back very aggressively.
How much do I need to deposit in my ninjatrader account to be able to trade the leading ES expiry? Im curious what the entry cost of one contract is so I can deposit the right amount to start
Love the beginning of the video. That huge sell-off was is a nearly 20% unemployment rate, 3.3T in government spending that did nothing, millions of evictions, a massive mental health decline due to lack of job security paired with financial issues, exacerbated by healthcare costs and a spike in fear of healthcare facilities.
Yep and Nancy and the gang made sure the Kennedy center and these foreign countries got their money while americans got 600 dollars. Despite the recommendation from the President that was much higher. Nancy never budged on the itemized deductions which is why taxes still suck. And on ad nauseam.
Hello. Thank you for the information. I was wondering what platform do you use?
Also the two legged pullback trap (second entry short) trap you tried @6:00 was a way too early entry, you should be entering one tick above the bearish signal bar for the second entry. That is where most of the stops would of been for shorters.
the way Michael explain I really like it thanks
Hey bro what are your settings to have the stop automatically follow your runner?
I didn't understand the entry on the first setup. Doesn't look like the typical two legged trap/pullback you normally enter on and considering it was probably very close to 50% Fib level, couldn't it just as easily have been a retracement and continued the down trend? I'm a failing futures trader but just trying to understand.
I saw the email that day - Margin requirements are now 5x normal size. Next step for me was to close NT8 and take the day off! Thanks for the videos and ideas
Why do they do that? Also will they do the same thing again?
You reminded me to scale down my stock options contacts, usually I trade with 5 but I started doing 2 now a days. Market is crazy, I trade SPY most of the time, and I make $150-200 easily everyday but now a days making $100 is very difficult due to high volatility.
Does pdt apply for options also?
Scaling down is your best friend, especially in times of high volatility
Ashik Keshava yes
what i've been doing recently to compensate for this volatility is scalping a 3 point target with a 6 point stop. A good bit of risk, but in this current market it's unavoidable. As long as you're reading it correctly it shouldn't matter because the math works out the same
Jared Bright just a suggestion you may be better off scaling it down to 3:5 due to the high volatility
Glad you were honest about taking that 1st trade bc of you missing out on that initial sell off. Not enough ppl take losses and the psychological aspect of trading into consideration. Its mentally draining seeing stocks going against you and its something to keep in our minds at all times to make better trading decisions
I totally agree, thank you Christopher. As we practice more and more I assume it will only get easier and easier to handle
Michael Chin for sure. It was comforting to read that you had multiple red days starting out too lol. Seems almost unavoidable unless you spend a very long time practicing. How long did it take you to make the turn to green?
thanks Michael, these videos are extremely valuable and you are a blessing for posting these
Thanks for the continued support @sentralorigin. You're the best
Ah, I remember that day. I like the humanity you bring into the vid. Good on you.
He’s a scammer and a fraud m8
Hey Michael,
I just wondered if you could share how you keep a runner on? Whenever I set my orders, it closes out at 150 without keeping that extra 50 going?
Don't get worried about the big drops and losses. The primary goal of the market is to hurt as many traders as badly as possible at all times. The market can and will takes your lunch money everday. Everyone should understand that.
I enjoy your videos though.
Naive and childish. You sound like Chin with his fictions about "trapped" traders.
This is comment screams 'I lost my ass in trading'
I am learning much from your strategie, trying to implement it for my own trades after being too reckless for a few days.
Question if I may: why at 8:37 did you not just stop the trade instead of waiting for the stoploss to kick in a few points lower.
I see using the stop loss as a safeguard but maybe sometimes overriding it if I can see danger ahead and I want to end the trade.
Thank you for your thoughts of this matter.
Good question
It does create inconsistencies and go against the logic that your emotions shouldn’t interfere while you’re only executing your rigid rules , guess what would happen if you exit a trade early just to see it go back to your profit target , not you get sad and create self doubt which is bad for psychology
when do you consider a 2 legged move a pull back and when do you consider it a trap?
I want to know as well
Hey Michael, do you trade with 25,000 dollars in your account, or does your broker allow you to trade futures without being held under the PDT rule? Also can you make a video of you actual putting the information in for the option and show that screen?
PDT rule doesn't apply to futures.
Jacob Popp pdt doesn't apply to futures trading. Riley Coleman has a great video on this. You can open an account on Ninja Trader for a $400 deposit with a $50 margin for 1 MES contract, $500 margin for 1 ES contract. Best to practice on a demo account atm since the market is so volatile right now
Sometimes you don't have to open an account but that is only better when you have a trusted expert like Jules Arthur from Florida
I will always say mr Jules is the best
@@paulovaldels4654 text on what'sapp
I just set up a live acct today using NT's continuum option. Until I get familiar with the platform, is there a setting I can use so that the trades I place are "demo" or "simulation' trades? What does the "Global Simulation Mode" option on the tools tool bar mean? Not sure about how to do this. Maybe I just have to connect to playback or something. Anyway, just thought I would ask since I don't seem to be getting any info from NT. Thanks
Hey Michael! I have a quick question, usually in your videos you say that the market tends to follow the trend that was set before the market opens. Which today would have been extremely bearish right? So I'm a little confused about how you knew that the market was starting to trend up and why you decided to buy. I appreciate all of the help and I absolutely love your videos
Usually after a large gap down there's going to be some type of short covering rally. as sellers cash in on their profits. We saw just that in the morning as a number of green candlesticks started to accumulate and push higher
Matthew Krier also markets tend to recover a bit after hours if you choose to trade then but beware volume is usually a lot lower during after market hours
Also it isn t live so he already know what happened while he record his series
Michael, Quick Question: for the RUNNER move, it was just a buy and a limit sell? Even though its risky, in a volatile market or brokerages doing shady moves, knowing that I can make a calculated gamble and possibly catch a huge bull or bear run is another tool in the bag. I missed that same trade! the setup seemed good, and when it hit that stop-loss, it shook the confidence a little. Thank you for the reasoning, I just chalked it up to a super volatile market and day. Its tough when the candlesticks are really small or large because any sort of unexpected volatility just kills. Keep up the hard work, your videos, explanations and expressions are relatable!
No worries Luke. This market isn't the best for this strategy (good thing this almost never happens). And are you referring to the first trade? Usually I have a scalper and a runner, but everything was moving so fast. When I scaled back to 1 contract I forgot that that template would remove the runner
@@MichaelChin Im referring to the last trade. where you made a buy and a limit to catch that big bull run at the end of your video. since brokerages are upping the margin, this could be a good way to catch a huge swing and get a slight edge on the market.
Luke Waki brokerages are upping the margin bc of higher than average volatility meaning a swing out of your favor results in a larger loss. Trust me the brokerages have already taken your theory into account that's why they upped the margins. There is no way of getting an absolute edge on the market but backtesting and high probability strategies increases your chance of successful trading
Hey michael saw your videos this week downloaded the demo account for ninja trading and through your videos I know il learn alot
Glad to hear that! Always good to play it safe on a demo account
@@MichaelChin think of opening a discord group where we can engage live all of us and discuss markets and moves as we take them that can really help
You talk about margins increasing - you're young and probably your first experience with that. Margin for futures is set by the CME, but brokerages have the ability to set it at whatever they want. The CME did raise margin requirements during March but only a few percent. It was the individual brokerages who doubled, in some cases tripled, quadrupled it or just disallowed futures trading all together. But this is what happens during black swan events and it's not anything new, but it can be scary. I always keep 3 to 4x the margin requirements in cash in my account for just such instances. And though they are far and few between, they do happen. So for example, in my futures portfolio, before march my margin requirements were a bit more than 9K for all my positions so I kept about 28K. When the shit hit the fan, and my margin requirements went from 9K to 18K, I shifted more cash to bring me up to 54K. As margin reqs. begin to fall, I'll likely keep the cash there and then wait for a reversion to the mean on my futures portfolio profitability then press from one contract to two.
With a beginning speech of commenting about market down so hard that hurting a lot people, can see that you are kind hearted person❤️. Good job my friend to share all the techniques of scalping and day trading.
Thanks for the support Cliff
So I don't know if I fully get this but if you just had 2 contracts and had played that big huge red candle all the way.. would yoy have made 59.08×50 = 2954 dollars a contract? Roughly?
The exchange overnight minimum margin requirement is computed based on market volatility. Individual brokerages may have higher minimums.
I am on the edge of buying your course on scalp trading. I am new to the trading and I do have capital so I think this is the route for me. But my question is IF I do go ahead and do your course dose it have everything I need to learn about scalp trading from start to finish? (I have a masters degree, just letting you know I can learn)..
Yeah definitely!!
Just Reach me on telegram @michael_chin1 for more information and guidance
You guys seem to have disappeared around March. No new videos or anything. Also the link to the FB group in the comments is broken.
Right, I am also wondering about this.
@@maulikzalavadia2826 it might be because of legal reasons. The strategy he uses is from PATsTrading.
@@FoxMauser Ok. What is PATsTrading?
@@maulikzalavadia2826 name of the company that created and teaches this ES scalping strategy. They have a YT channel too.
@@FoxMauser Alright. Found it. Thanks
How do taxes work on futures contacts. Do you get taxed on gross profit or realized profit after deducting the contract fees?
Futures taxes is treated like Forex
The net gain or loss from trading futures contracts is treated as 60% long term and 40% short term no matter what the holding period. See IRS tax form 6781 --Section 1256 Contracts.
I can recall a time when one of those alpha anomaly spikes happened some years ago. I had a buy trigger w/ a cover at around 12 ticks (3 pts) for the ES and a long candle price spike happened. My buy order triggered, but the price action blew past my sale limit cover order (slippage). I'm in the black $500 instantly and quickly closed out the position. I got very lucky because if I was shorting, then I would have easily been on the wrong side of that trade and in the red $500.
Great work man!!
As far as these big down days in the market, I honestly couldn't care less about other people's losses bro. This is how the world works, and not just in finance, but in nature as well. A lion will always pick a baby deer, because it's the easy target, it really doesn't care or think about the baby deer, it only thinks about food. Another example is the funeral business; they make millions of $$ off of other people's grief and losses. Now, that may be a little bit of a harsher example, but it's the same thing. In the markets, I really don't care about how much other people are losing, because that's the risk they're taking by getting involved. In fact, I would love to take their money, as I need it more than they do anyway.
(I can't wait for the haters on this comment LOL)
You feel better bro getting that off your chest. Good thing is you’re not immune to these things, you might be taught a hard lesson.
Hello Michael, I don't seem to see your videos anymore. What's going on?
Hi
Let’s talk now
TOS moved their margins to $8300/contract compared to $6900 last week due to the volatility. It wasn’t a surprise that NT did the same today
Yup thebrokerages still need to protect themselves at the end of the day
Michael, can I ask how long have you been trading to get to where you are now and where did you learn? Thank you
the pro expert can help.. he makes me weekly profit
:(+16625861740):;
:(whatsapp);:
Hi Michael, which trading app are you using??? Thanks!!!
Thanks for watching
Hit me up there ☝️☝️
There are profitable nods and patterns I’d love to show you 🚀🚀.,..
I am a real newbie to investing and I don't know which road to go down. Are there any reasons you would share why you would prefer day trading stocks vs. option trading? Or if you would be so kind as to please share which way you would go personally if you had an account of only one to 3 thousand and you were looking to learn the easiest and safest way to trade to generate in time hopefully an extra $1,000 a month, I would so appreciate it.
I also swing trade on the side with options. It all depends on your personality. Do you like fast paced quick action like day trading? Or would you rather play longer term positions. Both have their merits.
getting in and out of a trade quick and low risk.
":;+1(360)-549-4304;:".
On what's::app
what are the benefits to trading futures instead of stocks?
Reach me on telegram @michael_chin1 for more information and clarification
Excellent info. Thank you. On my paper trades of /ES I am not up or down $50. I am either up $42 or down $107. Am I doing something wrong? Thank you again.
you probably have your commisions set up
Congratulations, you're doing great, today was my first two good tradings using your strategies.
what king of account and broker do you use? thanks again
:;"+1(360)-549-4304;:..
On what's;;:app
Please what time is trading with. I am new to this
Have you considered scaling your stop loss back any? $200 loss for a $50 gain was hard for me to watch and its not even my money lol
The problem is that the setup is still valid until prices break that prior swing. So if I move my stop up, I risk losing on a potential winner
Michael Chin oh true don't wanna get stopped out prematurely. Did you start on ES or scale up from MES?
Assuming random movement, all by itself, risk-reward influences win rate. A high win rate is best for trader psychology and high leverage approaches. A 5% of ATR target with a 1:2 to 1:1 reward to risk is pretty normal for scalping small time frames.
How do you set up your tp and sl. Its so fast like you have using hotkeys to automatic when you set up your tp and automatic that you have tp and sl. How ?
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I am practicing with the Ninja Demo. Definitely learning in this crazy market. Thank you so much for the content! Your commitment to your approach and restraint are impressive. How does Ninja Trader account balances work? Does the gain on a contract buy/sell go directly into your account? And when does it become taxable? Is it immediately upon trade a part of that calendar year, or upon withdrawal from your Ninja Trader account?
Once I cover a position it's a profit. Taxes are determined based on the calendar year whether or not you withdraw them from your brokerage
Michael Chin important to know. It would be nice if you mentioned this in an all encompassing video for beginners
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@Micheal Chin, how much of your account do you risk per trade. This would be super helpful, thanks heaps
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He is using 1:3, profit loss ratio. He claims he has high probability rate , that’s why high risk.
Another great video, thanks Michael!
What happens if they change margin requirements without you knowing and you're account balance goes below it. I'm assuming you will get margin call and the fee that goes with it? Kind of messed up that you know what your excess margin is and know your limits and then bam, you get blind sided.
I'm not sure how that works to be honest. I trade pretty small compared to my account balance, have not been margin called for futures
For retail traders going through an introducing broker like NinjaTrader: If you overtrade your margin, the order will just not go through. It will be rejected by your broker. If you are in a position and you go so negative as to blow out your account, the broker will pop you out before that happens. Why? because they are liable if you owe the exchange money.
Hey Michael! Can u tell me with which keyboardcombination you put the Buy/Sell Orders? Thank you!
Reach me on telegram @michael_chin1 for more information and guidance
It might be a dumb question but can you explain how price marging works? Like if /ES margin is 500 , can I trade it with just 500 on my account?, waiting to hear from you Thank you
Get trading guide and profitable assistance from Sir Bobby Mayor
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Can you show the commission for a day/ trade? Love the channel!
I pay less than $2 per contract for commissions
Hamp20 it's 2.54 a contract if you use the free version
ninjatrader.com/PDF/ninjatrader_futures_contract_details.pdf
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Today was going to be my first day trading... I woke up early, I opened my demo account to try first, better safe than sorry. Lost 900 in 5 min. Turned off my computer and walked away. The red line never stoped!!!!
El LARRY glad it was a demo account today. I'd suggest to stick to demo and letting the market settle more before going live with a funded account. Keep an eye on the pre market and beware of the profit takes after the initial open sell off
The key to successful scalping is not so-called 2-legged pullbacks. It's figuring out which direction the ES is likely headed short term. Draw trend lines and channels! (A moving average is just a crude substitute for a trend line!) Look for support and resistance levels. Look price levels that the market is attracted to and likes to test. Learn to recognize and understand the implications of chart patterns such as wedges, triangles, ABC corrections, 5-wave moves. Keep in mind that if you risk 2X points to make X points, then 2/3rds of your trades need to be winners JUST TO BREAK EVEN. If you are going to survive Michael Chin's scalping strategy, you NEED RUNNERS. Or else you need to make the risk:reward ratio more favorable. If you risk X points to make X points, then you only need 50% winners to break even. If you risk X points to make 2X points, you only need 33% winners to break even.
@@herrickinman9303 I wonder how much the win rate will change by changing the RR to 1:1 with his strategy.
@MichaelChin How do you recognise a two leg trap versus a two leg pull back?
I'm a bit confused about how he saw this as well, there are 2 other down candlesticks shown before he put his order in. Maybe it's harder to see because we're so zoomed out.
First, you first decide what direction the ES is headed, short term. Then you take a trade in that direction. Then you make up a bullshit story about trapped traders to try to justify your decision after the fact.
Hi micheal..do you think ninja trader would ever go back to their initial margin ($500) for es contract?
Oluwaseun Adio sam yes once the market steadies again
@@christophermckimie755 thanks bro hopefully
Oluwaseun Adio sam they went back at 11:30 today
@@christophermckimie755 thanks bro..i was so happy..
What is your time frame for scalping
Can someone explain to me why he set up a trap instead of a two legged pullback short? What qualifies the trap?
bcoz market always traps. if u somehow win a trade, there's someone else trapped.
also, market was recovering from that big fall. so up-trend
Back in the old days, when you shorted and you were right you didn't go around high 5-ing, or celebrate or congratulate yourself. It was kind of an unwritten rule. You shorted, you were right, you made your money and you kept your mouth shut. When you see a serious down turn people are going to be affected in the worse way: divorces, suicides, physical abuse, drugs, alcohol. All of it. It is nothing to celebrate.
how much you must to put in to make from 1pt 50 dollars.
Peterko $500 margin
Why do you the 2000 tick chart? Also as far as you know which is the most popular time frame for/mes? Thanks
I have found the 2000 tick chart to be the most reliable timeframe for this strategy
@@MichaelChin thanks
Another valuable video!
Thanks Kat!
Has anyone taken his and Riley's Scalping Masterclass course? And if so, was it super helpful? I have enjoyed his videos and I'm wanting to take a course, but he hasn't uploaded anything in awhile. I would also appreciate seeing more than just 1 review of people who have taken the course before I put the money down. Thanks!
Yeah the reasons they had to stop uploading where because legal actions where taking against them. They immediately had to stop
@@bosstrading928 so sad. I noticed Riley uploaded a video a month ago
@@coryellhome 🤷♂️
Whats the best time frame. The you use. Most
He uses a 2000 tick chart. You can see "ticks remaining" in the bottom right corner.
Can you use the system at night US? Have a day job and cant make the US session. 2000 tick might be really slow.
-mr3puttz - I’m just looking into this strategy and am in the exact same situation. Definitely would like to know if anyone has any insight on this. Is it possible to use this strategy outside of normal market hours?
I will forever be indebted to you 😇 you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment thanks so much Mrs luna lucia,
WOW....amazing to see othere who traded with Mrs luna lucia i am currently on my 7th trade with her and my portfolio has grown tremendously
I invest with mrs luna lucia too , she charge a 15% commission on profit made after every trading session which is fair compare to the effort she put in to make huge profit....
_this is not the first time i am hearing of this woman and her exploit trading world but i have no idea on how to reach her _
@@mrjohnson8502
kindly reach out to her on telegam
@@mrjohnson8502
investwithluna Is her handle
Hey Michael I'm new in your channel but I did already watched 20 or more videos, still can't understand how It does work if you can make more clearly for new starting ppl that would be great
you must buy his course if you want to understand his strategy
@@thierrymichoud8791 not good possibly to learn without buying spending money ?
What are the commissions and fees for trading futures? I was paper trading today and profited about $530 but my total fees were about $400. I’m confused where that all came from.
It depends on what brokerage you're using. Also I'm not sure how commissions work for paper trading, but you can usually find your real commissions on your brokerage statement at the end of the day
Michael Chin I’m using tos. Granted, I did make a few bad trades and was negative a few times. I’m practicing again today and doing better. Your videos are honestly helping a ton.
Why are you using a tick chart ?
Hi....
Thanks for being a part of a supportive community! 👆Help!!!!
hope your trade are getting good returns?
in the whole market, every time someone earns another one loses, just like you said if someone was positioned going down, they made money, and when we trade and earn money another one loses, its just how captalism works, the money is always there, just changing hands...
What is the trading group?
Reach me on telegram @michael_chin1 for more information and guidance
@michael chin Does PDT rule apply in ninja trader?
PDT doesn't apply to futures trading.
@@copa8 Thanks a lot
are you trading options? you mention contracts so i’m not entirely sure
No, S&P 500 Futures
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DO you dont use volumen in graph for trading??
Hi...
Thanks for being a part of a supportive community! 👆Help!!!!
Good video. Maybe good combination with my trend trading
What platform do you use?
Reach me on telegram @michael_chin1 for more information and guidance
Do you trade live on RUclips?
Reach me on telegram @michael_chin1 for more information and guidance
Would you please tell me which EMA you use on your chart . Thanks
21
thuy pham 21 ema
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im confused, do you aim for only 1 pip?!
Do you trade for yourself? You maybe running at loss but as for me, sir Jules from Florida has always help me till today and I can say for sure.
+16145917814
I saw someone talk about him a few days back and I just got paid in btc yesterday to my blockchain
Yea bro, give Jules a chance, he trades for me and his strategy's are awesome
Go to mr Jules Arthur, he is the best expert
They did that to cut down on the selling and to ease the volatility. If they didn’t then things would of gotten far worse financially.
did they end up dropping the margin requirement back down?
I talked to NT support after I finished trading that day. Apparently that huge margin requirement was for a couple of minutes at the open before their team realized what happened. So I could have gone back to 2 contracts later in the day
SHANKELLL yes they dropped them at 11:30 today
@@christophermckimie755 - FCB Barcelona for life! :)
Hey Michael how do we know this isn't historical market replay? I don't mean to be skeptical but...
in the end, it's up to you to perform your due diligence. do your research, backtesting, paper trading, forwardtesting, etc.
I'm not sure to be honest, I've never actually looked at the market replay software
Apple Juice if it was historical data he wouldn't knowingly place losing orders...lol
@@christophermckimie755 r u serious so how much loosers did u see in this whole series?
@Michael_Chin how do you enter E mini Futures in thinkorswim?
DJDumlao ticker symbol /es
Thanks
Looking for a recommendation for a Futures Day Trading Course / Mentorship using Tradestation. Any help would be appreciated ...
I recommend Sir Bobby Mayor
reach out to him
he is on whatsapp
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Also your trend lines (wide trend lines) are wrong. You're forcing to fit the trend lines when they don't have enough touches of support and resistance.
What time of day do you trade? and in what time zone? I'm in Pacific Time
the pro expert can help.. he makes me weekly profit
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I’m in pacific time too. I make $600-$900 a day and I trade between 7:30-8:30pm
I’ve been saving for your course .
Thanks Jacques, but take your time. The course will always be there, and there's a lot to learn from these free videos alone
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It's not his course, he stole it from price action trading system. You can get the scalping course for 100 dollars. Dint buy from these thieves , they're being sued for copyright theft as wee speak
@@bosstrading928 Is the Price Action Trading System scalping course worth it for $100?
the pro trader makes me weekly profit.. no more loss from amateur trading.
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No such thing as no more losses. You obviously haven't been trading very long.
liar
im confused how much do you have to trade S&P?
He's not trading the S&P500. He trading a futures contract that is used to hedge stock portfolios that mimic the S&P500 basket of stocks. If you don't understand what a futures contract is, why they exist, or how to participate in futures trading, then you have no business trading the ES or any other futures contract.
How much do need to make a $100/ a day? $2,000? $3,000?
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@@zionkakainnocent4645 yea not calling you on that chief. Introduce yourself first
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how do you get your orders in on the correct ticks with your mouse when the chart so zoomed out? 1 missed pixel and you're off by like 2 ticks lol
Today I was using a smaller more zoomed in chart to place orders, while watching this zoomed-out one to see the trend
does pdt rule apply to options?
Hello
Thanks for being a part of a supportive community! 👆Help!!!!
Hope your trades are getting good returns?
i feel terrible about the new traders that tried to dip their feet into these markets and got completely destroyed..like yes, maybe they shouldn't have dived in headfirst, but a punishment like this i think is a bit harsh even for them. it's a lesson learned, albeit unfortunately a much more severe lesson than a more forgiving spanking a regular market would've issued.
Today was going to be my first day trading ....
@@ellarry5519 i am begging you, as a stranger on the internet: do NOT try this. even seasoned veterans are blowing up their accounts as we speak. for the love of all trades, please just paper trade for now
It's a tough lesson for sure, but sometimes it's a necessary one. I learned the hard way when I first started, and it only motivated me to study harder
Michael Chin words of wisdom we all need to hear
John Lee sound advice hope he listens
What chart is this? 1 minute chart?
mybiz5975 2000 tick it shows you in the top left corner
WOW march 9th this video was published. 3 days before BLACK SWAN! , you where right bro'da wasent that fun day everyone , lmao
Hi
The tail does not wag the dog. Neither the US economy nor the world economy are wagged by the S&P500 index or the ES. And not everyone trading ES is a speculator.
Is there any particular reason why you use ninja trader
Hello
Thanks for being a part of a supportive community! 👆Help!!!!
Hope your trades are getting good returns?
Hello. What is your broker?
Ninjatrader
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How much Money is Needed to Trade the S&P 500 for 1 Scalp of $50 to $150.00???
the pro trader can help.. he makes me weekly profit
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Which is your Facebook group? Can you please share the link.
Thanks for watching.
You can reach me on telegram @michael_chin1 for more information and guidance
That drop is not going to be causing "a lot of damage to the global economy" S&P is purely a USA equity index. Also the USA economy always bounces back very aggressively.
How much do I need to deposit in my ninjatrader account to be able to trade the leading ES expiry? Im curious what the entry cost of one contract is so I can deposit the right amount to start
And also curious... do you need the Trader + version to be able to use chart trader and ATM strategies?
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Why ES, not NQ ?
Hello
Thanks for being a part of a supportive community! 👆Help!!!!
Hope your trades are getting good returns?
Can you do a tradestatiin tutorial for scalping
I've never used the Tradestation platform before
Do you lose $50 each time your runner stops out?
Hello
Thanks for being a part of a supportive community! 👆Help!!!!
Hope your trades are getting good returns?