Michael Chin you seem to have good psychological insight into traders can you include that aspect in your strategy video? Keep up the good work we will be waiting!
Hey Michael Chin, I am a fairly new trader and have come across your channel and am really enjoying and have even started paper trading this method. I was wondering if you would suggest this strategy to a beginner and how much money I’d need to get started trading in real time.
@@MosaicFriend Hey Moataz. Yes this is definitely a beginner friendly strategy, but I would suggest paper trading it for a while. Only once your comfortable then start moving over to real money. If you can find a brokerage that lets you trade futures with $500 of margin, you should be able to comfortably start trading with $1,000 - $1,500
Yes I plan to paper trade for some time until comfortable. I live in Canada so do you have any suggestions as to which broker or do I just have to find. Because I am paper trading with TD and it is fairly expensive.
I’m going back through your vids. Would love to see you back scalping. I have adopted the 1point scalp and it’s been amazing for me. No expecting huge moves in the market than never arrive. Just simple but effective. Only difference is I also use a delta footprint chart just so I know the 2nd pullback has enough volume in the direction I favour.
Gonna watch and rewatch this whole series. Thanks for the inspiration. Just opened an account there at Ninja. I think I might just abandon think or swim for the most part. Futures seem to be where its at for people with day jobs. Trying to trade while I’m at work has not worked out too well… fortunately not to bad either..
yeah i dont think it is live it is market replay. during the video he slipped and said " i remember this day" so that tells me he's cherry picking trades. His Risk/Reward is .5 which is not good and he leaves to much money on the table with the runners.. i'm calling BS.
Nice. I just started practicing this strategy since the beginning of the year. Excited to see how you handled implementing this strategy with all the volatility this past week.
Hey Michael. What you're doing is literally goal for me! Option trading was the first thing that got me interested but now I'm also interested in futures trading thanks to your channel. Can you make a strategies guide/tutorial on how to find out where/when the winning rate is 95% win and analyze the chart? (i.e: 2-legged pullback, when to buy/sell, etc)
Love how you are one of the only traders that I have seen that let me believe that I can also do this!!! I haven't seen any new content posted. I pray that you and your family and friends are safe during these crazy times. Charles
Hi Michael! I'm new to trading, so sorry for this question. How do you identify pullbacks. How do you know where to start and end, then place your order? Does your moving average help or maybe support/resistance lines? You make it look so easy. Do you have another video that explains all this? Thank you for your time.
Hi Andy! the 21 EMA and support/resistance lines definitely help us spot areas of interest with this style of trading. I'm planning more learning videos to teach things like identifying pullbacks. Keep an eye out for them!
Hi Michael, I am new to day trading and so Appreciate your lessons. I think your method is Right on. I subscribed to your You Tube Channel, always give a Thumbs Up and signed up for your Facebook Group yesterday. Thank you for your help. Paul Kennedy
Are you showing live trades, or Market Replay? I was under the impression that it was live trades, but then you said "I remember this day, this was just crazy this was one of those volatile Fridays..." So this makes it seem as if you are trading on Replay. I enjoy your videos. You get into the minds of other traders and can anticipate what they're likely to do by the price action. I've been trading for 8 years and I still can't do this.
Hey so probably to late lol, but I wondered the same thing, I believe what it is, is he is doing an analysis after he screen recoded because when you watch you can see a little eraser run around the screen while also a separate cursor that is setting the buy stops. So the future contract video is when he was doing it live but he is now analyzing it to study and learn from it while also teaching us.
As for your comments about 1-legged pullbacks and about 2-legged pullbacks being your best friend... What looks like a 1-legged pullback on a 2000-tick chart will look like a 2-legged pullback on, say, a 1500-tick chart. Furthermore, judging from the way you have identified 2-legged pullbacks in your other videos in this series, a 2-legged pullback is literally ANY sequence of 3 consecutive legs; it follows that EVERY leg is the 3rd leg of a 2-legged pullback. Either way you look at it, it can be argued that there is no such thing as a 1-legged pullback.
The setup up you took at 10:00, why didn't you set the runner too new support that formed at the low? I understand that the runner is just a bonus but wouldn't it have been wise to set it there knowing that there was a high probability chance that it was going to test that support? I'm learning all my scalping from you page. So I appreciate your content. Out of everything I've seen about trading, scalping with ninjatrader seems to make the most sense.
Michael, love the videos! Nice content my man. I have been paper trading for 4 months and yours is the first strategy I've seen with this kind of success rate. I would really like to give it a try once I start with real money. I do have one request, though. I know you said you're in the process of making a Tutorial video. One thing I would like to see is some wrong or deceiving examples of 2 legged pullbacks and traps. I find myself thinking I've identified one, only to have it backfire. I feel like seeing some good and bad examples side by side would help with that. Thanks man!
Hey Matthew check out our FB Trading Group. People post chart examples all the time for review. We also released a master course today if you're interested in that as well! www.dayonetraders.com/ bit.ly/FBTradingCommunity
Does the stop Loss for the runner automatically get moved up once the first 3 contracts sell or are you doing it manually? I didn't see anything about that in the setup videos. Thanks
Not sure if this is too late to reply but yes there is a paper trading option on the brokerage software they’re using - NinjaTrader - you can set one up I suggest looking at a video of setting up a demo account on NinjaTrader and there should be a video or two to help you set it up :)
Hi Michael, I love the series! I've learned so much! I find myself stuck knowing how it is your making profits when the market is going doing and you are using buy stops.
Anyway this is a very weird situation, this is actually the 2nd or 3rd video in which not recorded entries appears and disappears randomly, so.. the question is are you live trading or just playing and backtesting strategy? And more, how can you define where to start a two legged pullback or trap?
Hi Michael, most comments are one year old. Do you still have the face book group. I would love to join. I am trying what you taught us, but still struggling with traps. I love watching your videos
Hello Michael, First of all, thank you for your amazing job. I have seen many "teachers" on youtube, who are just tale-tellers, but you show us everything in action and how things are really working. Big respect from me! In this video, I got one question, why you short 9:05? I could not catch 2 legged pullback there. Thank you in advance.
11:28 you got caught out by your own stratagy......right? you tried to short a one leg pull back out of the trend. according to his other trades he should have bought.... am I wrong?
you mean since the market was 1+ points out of the trend he should have bought cause there were no indicators that it was going to be a bearish two legged pull back ?
Awesome Michael. I always tried to trade double legged but did not know where to enter thank you very much for a great strategy. Just came back from work and made another $1000
Hi, Michael! I am loving you videos. Can you explain the 2 legged pullbacks, 1 legged pullbacks and trap pullback, please? I am confused they all look the same to me. Thanks.
I'd be curious to know what your p/l is for a longer time frame, say 1 year. I don't trade much but when I do, I notice I get really streaky - lots of nice wins then lots of losses that bring me back flat. I don't think over the years, I've made any money scalping. I make money trend trading, but scalping? Not sure.
Hi Gary, if you need some help with the setups feel free to shoot me an email or join our Facebook trading group. I'll try to help you as best as I can
Your losses are so minimal, great strategy. I like the logic and reasoning behind your trades. I am not hating, but how do i know that you are not using the demo version with "live" on the top right corner?
I thought this was real-time, filmed as the day progressed but at 3:00-3:21 you say "I remember this day" so this is all after the fact. When did you actually film this? It does give one cause to think you are using hind sight.
Hey Brandon, yes I played with a demo account for several years before live trading. This isn't the type of strategy that you want to blindly start trading real money with
@@drwise4real617 Futures contracts are leveraged products different from a stock. This allows us to purchase them with margin, which only requires us to put up $500 per contract (dependent on your brokerage)
Michael, Thank you for share us all of your knowledge. i already seen all of your videos and im going to take your course. You doesnt have an Instagram account?
Yup, taking it easy on the videos. But I have been trading the first 2 hours. I recorded those sessions so I might post them later next week. Let me know if that's something you'd like to see!
How much does it cost to buy or sell one contract. How much do you need to open an account to trade futures. I have been using the paper trading and making like several thousand dollars in hours. is this real????
Ninjatrader requires an intraday margin of $500 per contract. That's awesome man! I'd wait to see if you can continue seeing profits for the next month or so, and then test the waters with real money when you feel confident
@@MichaelChin Can you explain how that intraday margin is calculated? And, which broker do you use what are your fess per contract? I am also papertrading a lot and learning from your videos, thank you very much
Hiya Michael, one thing im trying to understand is the stop limit offset.. you use stop orders dont you ? Any recommendations on the offset amount ? Appreciate any feedback mate. Awesome vids by the way
Pan Tac appreciate your comment. Just i think we talking about something slightly different. There is a predetermined offset amount you set when activating a limit stop order. It determines exactly what range your entry price can be activated at.
Michael Chin ha ok all good i can see you place market orders by your videos now correct ? If you use stop limit orders you are asked to offset the entry price. Guess thats not something you do then.
Hello Michael, great content, love it. I have a MacBook, is there any way to get ninjatrader on it? Also, you buy/sell 3-4 contracts, you mean shares? What is the capital that you use to trade this strategy? Any restriction for ninjatrader for Canadians? Thanks for the answer in advance!
To buy 4 futures contracts on Ninjatrader you will need at least $2,000 ($500 per). I believe NT8 is available in Canada and if you want to install it on a Mac you will need to find a Windows emulator like Parallels
@@MichaelChin Thank you for the information. Last few questions. 1. How come one shre/contract give a value of $12.50 instead of its dollar value? $500 for each contract? how come? it is because the account we open is using margin? Im just confused a bit as the share of SPY is like $3000+ and how we can invest so little.
@@MichaelChin thank you. Slowly finding things out for S&P500. So I did figure things out for Canadians. For Ninjatrader, I was told that I can't use bracket/ATM strategy with the free version of NT8, correct?
Hey hope you are fine please tell me what time frame u use also I am in the UK what broker u recommend also what time do you think s&p500 start every day so I can get up and start trading thank you
I’m new to NinjaTrader. I can’t figure out how to get the 50% mark in the channel like you have here. When I draw a channel it just shows support and resistance of the channel. I’ve messed around with the properties of the channel trying to find how to include the 50% mark, but can’t figure it out. Is there an easy way to explain how to put that in my channel?
hi chin, just my observation... spent more time teaching your strategy like example at min 1:10 when you put your call instead of saying that some other traders are trapped etc... i would like to know why you set your order exactly there... i am trying to learn and don't get me wrong you are the man.
It's hard to go through every little intricate detail on the video. I'll have a strategy video out next week that explains everything. Stay tuned for that!
So I watched your videos and I think they’re very interesting I was wondering is there a sweet spot or a number of trades that seem to trade faster or slower with a larger return than just for contracts at $50 each because as you say other people are trying to get in and get out or they are only getting in and getting out with only four or five trade Or they going for a larger amount of trades
Quick question regarding the fees "per micro contract" - in your 3 + 1 runner examples are you paying the fee x6 (3 in + 3 out) assuming your runners didn't get filled?
Futures commissions are usually quoted round turn, not per side. The commission you pay to trade a futures contract includes the total cost of the trade from open to close. I don't know what you mean by "runners didn't get filled." You don't seem to understand what a runner is. Every order you place to open a contract position is either filled or not filled. If you don't get filled, there's no commission. If filled, then you eventually have to close the position, either at a profit or a loss, whether or not the contract is a so-called runner. A "runner" is just a contract where you try to make more than a 1 point profit. The commission you pay is the same whether you close the position with a profit or with a loss.
They work on any chart with Candlesticks. If you're going to trade the SPY with this strategy, then you might need a different scalper's profit. Maybe even something as small as a tenth of a point to mimic 1 point in the /ES
Do you ever experience any slippage since you usually enter on market orders? I've watched a few videos and it seems that you always get filled at your desired entry.
I was wondering how you set up “runners” to cancel out before they cost you money. Do you set a stop loss on then my for their exact price? If so, Wouldn’t the initial price fluctuations cause it to trigger it to sell?
Great video. Thanks for doing it. How/where did you learn how to trade Futures? I'm having trouble finding a course that really starts you off from the very beginning AND includes a profitable strategy. Just know the mechanics of how to put on a trade is not enough to be successful. i've only traded options mostly but interested in Futures now. Appreciate your time.
@@MichaelChin Looks good but outside my budget right now. I will continue to watch your RUclips videos though. You are a natural as an instructor. I will look thru your videos to see if you have one on setting up the automated orders in Ninjatrader. I see it happen on your screen, but because I don't have Ninjatrader or know how to trade Futures, I'm not sure how you are placing your order on the chart, how you are telling it to only fill if price hits a target and how it knows to close at profit target or Stop loss.
@@penzput No worries no worries. I think once you setup a demo account and play around with the orders you'll get a good feel for what's going on during my live sessions
Michael, have you ever thought about taking small size and trading the daily. Once it shows the trend in the morning, jump out at the end of the day. Get the whole candle of the day.
That's definitely a possibility, but some days the markets trend up and then reverse. We'd have to backtest and see how well that kinda of strategy does
Thanks for recommending my channel Riley Coleman, much appreciated! I'll be taking this week off to work on a strategy guide for you guys. Stay tuned!
Michael Chin you seem to have good psychological insight into traders can you include that aspect in your strategy video? Keep up the good work we will be waiting!
I'll see what I can do Christoper. Psychology is an important aspect of trading!
Hey Michael Chin, I am a fairly new trader and have come across your channel and am really enjoying and have even started paper trading this method. I was wondering if you would suggest this strategy to a beginner and how much money I’d need to get started trading in real time.
@@MosaicFriend Hey Moataz. Yes this is definitely a beginner friendly strategy, but I would suggest paper trading it for a while. Only once your comfortable then start moving over to real money. If you can find a brokerage that lets you trade futures with $500 of margin, you should be able to comfortably start trading with $1,000 - $1,500
Yes I plan to paper trade for some time until comfortable. I live in Canada so do you have any suggestions as to which broker or do I just have to find. Because I am paper trading with TD and it is fairly expensive.
I’m going back through your vids. Would love to see you back scalping. I have adopted the 1point scalp and it’s been amazing for me. No expecting huge moves in the market than never arrive. Just simple but effective. Only difference is I also use a delta footprint chart just so I know the 2nd pullback has enough volume in the direction I favour.
Very easy to digest, thank you so much for the information.
Gonna watch and rewatch this whole series. Thanks for the inspiration. Just opened an account there at Ninja. I think I might just abandon think or swim for the most part. Futures seem to be where its at for people with day jobs. Trying to trade while I’m at work has not worked out too well… fortunately not to bad either..
Hey Michael, I feel like I'm learning great strategies from you. Thanks for the content!
he only teach 1 stratigy
actually good to see a loss, was starting to question if this is legit since it was nothing but wins
Alex it’s faked
@@wot3ver how
Good question! He users market reply on NT8
@@wot3ver what ?
yeah i dont think it is live it is market replay. during the video he slipped and said " i remember this day" so that tells me he's cherry picking trades. His Risk/Reward is .5 which is not good and he leaves to much money on the table with the runners.. i'm calling BS.
I think this was the clearest video on two legged pullback so far.
Oh thanks..!! You can reach me on telegram @michael_chin1
Nice. I just started practicing this strategy since the beginning of the year. Excited to see how you handled implementing this strategy with all the volatility this past week.
Volatility is fun, but always manage your risk. Scaling back is usually the best option!
you still alive ? 😅 any updates ?
Hey Michael. What you're doing is literally goal for me! Option trading was the first thing that got me interested but now I'm also interested in futures trading thanks to your channel.
Can you make a strategies guide/tutorial on how to find out where/when the winning rate is 95% win and analyze the chart? (i.e: 2-legged pullback, when to buy/sell, etc)
Hey Scott, I'll have a strategy guide out later this week. It'll have everything you need to start trading. Stay tuned!
Riley brought me here😁 you two make a good team👍
Thanks Christopher!
Love how you are one of the only traders that I have seen that let me believe that I can also do this!!! I haven't seen any new content posted. I pray that you and your family and friends are safe during these crazy times. Charles
Hi Michael! I'm new to trading, so sorry for this question. How do you identify pullbacks. How do you know where to start and end, then place your order? Does your moving average help or maybe support/resistance lines?
You make it look so easy. Do you have another video that explains all this?
Thank you for your time.
Hi Andy! the 21 EMA and support/resistance lines definitely help us spot areas of interest with this style of trading. I'm planning more learning videos to teach things like identifying pullbacks. Keep an eye out for them!
I'll use your strategy after testing and optimizing for my system. Great content!
Hi
Thanks for being a part of a supportive community! 👆Help!!!
Hi Michael,
I am new to day trading and so Appreciate your lessons. I think your method is Right on. I subscribed to your You Tube Channel, always give a Thumbs Up and signed up for your Facebook Group yesterday. Thank you for your help. Paul Kennedy
thanks Riley for recommending this channel, ready to learn lot of things from Michael ..
Great to have you Sachin, I'll try to teach you as much as I can
Are you showing live trades, or Market Replay? I was under the impression that it was live trades, but then you said "I remember this day, this was just crazy this was one of those volatile Fridays..." So this makes it seem as if you are trading on Replay. I enjoy your videos. You get into the minds of other traders and can anticipate what they're likely to do by the price action. I've been trading for 8 years and I still can't do this.
Hi.
Thanks for being a part of a supportive community! 👆Help!!
Hey so probably to late lol, but I wondered the same thing, I believe what it is, is he is doing an analysis after he screen recoded because when you watch you can see a little eraser run around the screen while also a separate cursor that is setting the buy stops. So the future contract video is when he was doing it live but he is now analyzing it to study and learn from it while also teaching us.
Hi Michael, how much fund do I need to start trading futures?
As for your comments about 1-legged pullbacks and about 2-legged pullbacks being your best friend... What looks like a 1-legged pullback on a 2000-tick chart will look like a 2-legged pullback on, say, a 1500-tick chart. Furthermore, judging from the way you have identified 2-legged pullbacks in your other videos in this series, a 2-legged pullback is literally ANY sequence of 3 consecutive legs; it follows that EVERY leg is the 3rd leg of a 2-legged pullback. Either way you look at it, it can be argued that there is no such thing as a 1-legged pullback.
The setup up you took at 10:00, why didn't you set the runner too new support that formed at the low? I understand that the runner is just a bonus but wouldn't it have been wise to set it there knowing that there was a high probability chance that it was going to test that support? I'm learning all my scalping from you page. So I appreciate your content. Out of everything I've seen about trading, scalping with ninjatrader seems to make the most sense.
Hi
Thanks for being a part of a supportive community! 👆Help!!!
Thanks Riley! What a great find just as I am brushing up my futures trading strat.
Awesome! Glad Riley recommended me
Michael, love the videos! Nice content my man. I have been paper trading for 4 months and yours is the first strategy I've seen with this kind of success rate. I would really like to give it a try once I start with real money. I do have one request, though. I know you said you're in the process of making a Tutorial video. One thing I would like to see is some wrong or deceiving examples of 2 legged pullbacks and traps. I find myself thinking I've identified one, only to have it backfire. I feel like seeing some good and bad examples side by side would help with that. Thanks man!
Hey Matthew check out our FB Trading Group. People post chart examples all the time for review. We also released a master course today if you're interested in that as well!
www.dayonetraders.com/
bit.ly/FBTradingCommunity
hi.what platform do you use for your trade?
Does the stop Loss for the runner automatically get moved up once the first 3 contracts sell or are you doing it manually? I didn't see anything about that in the setup videos. Thanks
Alright... You can reach me on telegram@michael_chin1 for more information and guidance
Hi great videos, what platform and tools do you use?
Just found your channel... Referred from your friend Riley.
Excellent content..... Thanks for sharing.
No worries, thank you for the support!
Love the video's and the technique your mastering!! Best wishes!!!
Hi.
what is the timeframe chart do you trade for this video? Thanks.
Is there a way to practice paper trading with this?
Not sure if this is too late to reply but yes there is a paper trading option on the brokerage software they’re using - NinjaTrader - you can set one up I suggest looking at a video of setting up a demo account on NinjaTrader and there should be a video or two to help you set it up :)
Does ninja trader have hot keys for order entry?
Which platform do you use?
Hi Michael, I love the series! I've learned so much! I find myself stuck knowing how it is your making profits when the market is going doing and you are using buy stops.
Hii
Thanks for being a part of a supportive community! 👆Help!!
Awesome channel and videos, I'm very interested in learning more and practicing. What practice platform would you recommend for mac?
With a Mac that's tough. I know people have setup Ninjatrader with a Windows emulator like Parallels
Anyway this is a very weird situation, this is actually the 2nd or 3rd video in which not recorded entries appears and disappears randomly, so.. the question is are you live trading or just playing and backtesting strategy?
And more, how can you define where to start a two legged pullback or trap?
Hi Michael, most comments are one year old. Do you still have the face book group. I would love to join. I am trying what you taught us, but still struggling with traps. I love watching your videos
Hi
Thanks for being a part of a supportive community! 👆Help!!!
Hey! Thanks for this one! Really nice, learned a thing or two again!
Just when you thought you've learned it all ;)
Michael Chin Yea man, i thought ‚thats it, nailed it‘. But NO! There is more . Hahaha.
Great content! What app or platform are you trading on?
Reach me on telegram @michael_chin1 for more information and guidance
Hello Michael, First of all, thank you for your amazing job. I have seen many "teachers" on youtube, who are just tale-tellers, but you show us everything in action and how things are really working. Big respect from me!
In this video, I got one question, why you short 9:05? I could not catch 2 legged pullback there. Thank you in advance.
Hi.
Thanks for being a part of a supportive community! 👆Help!!
These are great. Keep them up!!!!
Thanks man!
how do you trail stop on ninja trader, your stop gets pulled automatically ? what is the automation for that?
Some great lessons there Michael. Like the fact you are using a yellow line to follow trades. Qu can the pullback be as little as one candle ?
Hi.
Hey Michael, Great video man! What are you using to edit your videos?
Hi
Thanks for being a part of a supportive community! 👆Help!!!
Hi, Michael, this is a great setup. Have you backtested or paper traded a one point stop and if yes how did it compare to your two-point stop? Thanks
Hi
Thanks for being a part of a supportive community! 👆Help!!!
Hey man! What is the program you use to record yourself? Love the vids!
Does this only work on a 2000 tick chart?
11:28 you got caught out by your own stratagy......right? you tried to short a one leg pull back out of the trend. according to his other trades he should have bought.... am I wrong?
you mean since the market was 1+ points out of the trend he should have bought cause there were no indicators that it was going to be a bearish two legged pull back ?
Hi Michael which platform are you using is this IG
thanks for the video can`t wait for next week
Thanks for the support Chris!
What kind of computer should I get and what services are you using??? Ninja trade????
Hi
Thanks for being a part of a supportive community! 👆Help!!!
Awesome Michael. I always tried to trade double legged but did not know where to enter thank you very much for a great strategy. Just came back from work and made another $1000
Hey man does it still work for you and you making money every day please reply honest thank u
What are you trading like what is the stock .
I dont know any thing about trading sry if i look idiot😁
He is trading the S&P futures, it's not stock but futures contracts.
Hi, Michael! I am loving you videos. Can you explain the 2 legged pullbacks, 1 legged pullbacks and trap pullback, please? I am confused they all look the same to me. Thanks.
There is a guy on youtube called "papapat shoryutrade" that explains the 2 legged pull back for free
Which time frame do you use?
I'd be curious to know what your p/l is for a longer time frame, say 1 year. I don't trade much but when I do, I notice I get really streaky - lots of nice wins then lots of losses that bring me back flat. I don't think over the years, I've made any money scalping. I make money trend trading, but scalping? Not sure.
Hi..
Thanks for being a part of a supportive community! 👆Help!!!
How did you set up the hot keys for buy stop order? I watched ur set up video but it doesn't show that. So please let me know thank you!
Hi
Thanks for being a part of a supportive community! 👆Help!!!
Love your videos will be looking forward to the strategy guide you mentioned. I am having some difficulty discerning a trap from an opportunity.
Hi Gary, if you need some help with the setups feel free to shoot me an email or join our Facebook trading group. I'll try to help you as best as I can
Your losses are so minimal, great strategy. I like the logic and reasoning behind your trades. I am not hating, but how do i know that you are not using the demo version with "live" on the top right corner?
Hi.
Thanks for being a part of a supportive community! 👆Help!!
Michael .. Nice job !!
I thought this was real-time, filmed as the day progressed but at 3:00-3:21 you say "I remember this day" so this is all after the fact. When did you actually film this? It does give one cause to think you are using hind sight.
He is, he’s using hindsight to teach his setups
He's a scammer
U seem really smart for someone who just started. Did you start with play money? Before live trading with cash?
Hey Brandon, yes I played with a demo account for several years before live trading. This isn't the type of strategy that you want to blindly start trading real money with
Hey could you explain how to purchase the contracts for exactly $50? The stock itself is valued over $3000.
@@drwise4real617 Futures contracts are leveraged products different from a stock. This allows us to purchase them with margin, which only requires us to put up $500 per contract (dependent on your brokerage)
What shortcut key are you using for the Sell stop?
Michael,
Thank you for share us all of your knowledge. i already seen all of your videos and im going to take your course.
You doesnt have an Instagram account?
What platform are you trading on in this video?
Hi
Thanks for being a part of a supportive community! 👆Help!!!
any trades the last few days?
i think he is taking off this week to make the strategy guide
Yup, taking it easy on the videos. But I have been trading the first 2 hours. I recorded those sessions so I might post them later next week. Let me know if that's something you'd like to see!
@@MichaelChin I would love to see how you handled these historic trading days
@@kwikpop8978 yup, this week was very interesting
How come there are no more daily videos?
Hi
Thanks for being a part of a supportive community! 👆Help!!!
How much does it cost to buy or sell one contract. How much do you need to open an account to trade futures. I have been using the paper trading and making like several thousand dollars in hours. is this real????
Ninjatrader requires an intraday margin of $500 per contract. That's awesome man! I'd wait to see if you can continue seeing profits for the next month or so, and then test the waters with real money when you feel confident
Thanks man. Would it be possible for you to give me that standard bracket setting you use for the one point scalp and stop loss.
Come and See if you watch Michaels video about his Ninja Trader tutorial he shows you how to set it up
@@christophermckimie755 Thanks Brother
@@MichaelChin Can you explain how that intraday margin is calculated? And, which broker do you use what are your fess per contract? I am also papertrading a lot and learning from your videos, thank you very much
Hiya Michael, one thing im trying to understand is the stop limit offset.. you use stop orders dont you ? Any recommendations on the offset amount ? Appreciate any feedback mate. Awesome vids by the way
He sets it at 8 tick stop loss and 4 tick profit target. He made a previous video with his whole setup
Pan Tac appreciate your comment. Just i think we talking about something slightly different. There is a predetermined offset amount you set when activating a limit stop order. It determines exactly what range your entry price can be activated at.
Is this the entry order? I'm a little confused on which part you're asking for. If it's the stop loss, Pan Tac is correct
Michael Chin ha ok all good i can see you place market orders by your videos now correct ? If you use stop limit orders you are asked to offset the entry price. Guess thats not something you do then.
I like the 1pt scalps idea, but risking 2pts. I know you have to give the market room to move. Also you seem good at picking good setups.
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What's the name of the software you use and if you have a setup video. Thank you
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Hello Michael, great content, love it. I have a MacBook, is there any way to get ninjatrader on it? Also, you buy/sell 3-4 contracts, you mean shares? What is the capital that you use to trade this strategy? Any restriction for ninjatrader for Canadians? Thanks for the answer in advance!
To buy 4 futures contracts on Ninjatrader you will need at least $2,000 ($500 per). I believe NT8 is available in Canada and if you want to install it on a Mac you will need to find a Windows emulator like Parallels
@@MichaelChin Thank you for the information. Last few questions.
1. How come one shre/contract give a value of $12.50 instead of its dollar value?
$500 for each contract? how come? it is because the account we open is using margin? Im just confused a bit as the share of SPY is like $3000+ and how we can invest so little.
@@yeukyeung100 Futures are a leveraged margin contract that act differently than normal stock
@@MichaelChin thank you. Slowly finding things out for S&P500. So I did figure things out for Canadians. For Ninjatrader, I was told that I can't use bracket/ATM strategy with the free version of NT8, correct?
@@yeukyeung100 No unfortunately that is a "premium" feature. But you can test it out on a demo account!
Whats tthemoving average?
What is the time frame is it 1min or 5min chart
Hey hope you are fine please tell me what time frame u use also I am in the UK what broker u recommend also what time do you think s&p500 start every day so I can get up and start trading thank you
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I’m new to NinjaTrader. I can’t figure out how to get the 50% mark in the channel like you have here. When I draw a channel it just shows support and resistance of the channel. I’ve messed around with the properties of the channel trying to find how to include the 50% mark, but can’t figure it out. Is there an easy way to explain how to put that in my channel?
Oh yeah.. You can reach me out on telegram @michael_chin1 for more information and guidance
When you say close up the office do you just close the app or is their a way to log out
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hi chin, just my observation... spent more time teaching your strategy like example at min 1:10 when you put your call instead of saying that some other traders are trapped etc... i would like to know why you set your order exactly there... i am trying to learn and don't get me wrong you are the man.
It's hard to go through every little intricate detail on the video. I'll have a strategy video out next week that explains everything. Stay tuned for that!
So I watched your videos and I think they’re very interesting I was wondering is there a sweet spot or a number of trades that seem to trade faster or slower with a larger return than just for contracts at $50 each because as you say other people are trying to get in and get out or they are only getting in and getting out with only four or five trade Or they going for a larger amount of trades
how do you put in automatic buy orders. Not market. Do you have a hot key combination for that? And where do you input the price
Thanks for watching
Try and Reach me on telegram @michael_chin1 for more information and guidance
What broker platform you use?
Try and reach out on telegram @michael_chin1 for more information and guidance
how does the sell order work?
Hey Michel,
Love your videos! Any chance you could share your ATM strategy? Thanks.
Check it out here!
ruclips.net/video/GmTxWxhiC2c/видео.html
Insane day, congrats!
Thanks! Everything was going well until that slip up :/
Quick question regarding the fees "per micro contract" - in your 3 + 1 runner examples are you paying the fee x6 (3 in + 3 out) assuming your runners didn't get filled?
yes
Futures commissions are usually quoted round turn, not per side. The commission you pay to trade a futures contract includes the total cost of the trade from open to close. I don't know what you mean by "runners didn't get filled." You don't seem to understand what a runner is. Every order you place to open a contract position is either filled or not filled. If you don't get filled, there's no commission. If filled, then you eventually have to close the position, either at a profit or a loss, whether or not the contract is a so-called runner. A "runner" is just a contract where you try to make more than a 1 point profit. The commission you pay is the same whether you close the position with a profit or with a loss.
where is the guide does anyone know?
Is risking 2 or 3 to make 1 a long term profitable risk management strat? Over time I feel like you'd get taken out.
Also here from Riley's channel. Looking forward to the guide!
Awesome Don! Glad Riley sent you over
What time frame are you trading?
You can reach me on telegram @michael_chin1 for more information and guidance
What state do you live in ? I live in Washington state
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What does a runner mean?
Do these strategies work on regular Spy? I trade spy options
They work on any chart with Candlesticks. If you're going to trade the SPY with this strategy, then you might need a different scalper's profit. Maybe even something as small as a tenth of a point to mimic 1 point in the /ES
Michael Chin thank you and keep up the good trading!
Do you ever experience any slippage since you usually enter on market orders? I've watched a few videos and it seems that you always get filled at your desired entry.
I was wondering how you set up “runners” to cancel out before they cost you money. Do you set a stop loss on then my for their exact price? If so, Wouldn’t the initial price fluctuations cause it to trigger it to sell?
Check out his "Ninja Trader Secrets" video.
Hey Michael, you always seem to have around 2 point stops. Do you not take the trade if the stop must be greater than around 2 points?
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I dont understand why you loose your last scalp
Great video. Thanks for doing it. How/where did you learn how to trade Futures? I'm having trouble finding a course that really starts you off from the very beginning AND includes a profitable strategy. Just know the mechanics of how to put on a trade is not enough to be successful. i've only traded options mostly but interested in Futures now. Appreciate your time.
I've been building a beginner course for the past 2-3 weeks. It should have everything you need to know. Look out for it sometime later this week!
@@MichaelChin That's great news! I look forward to hearing about the new course. Do you need beta test students? ;-)
@@penzput We just launched today! www.dayonetraders.com/
@@MichaelChin Looks good but outside my budget right now. I will continue to watch your RUclips videos though. You are a natural as an instructor. I will look thru your videos to see if you have one on setting up the automated orders in Ninjatrader. I see it happen on your screen, but because I don't have Ninjatrader or know how to trade Futures, I'm not sure how you are placing your order on the chart, how you are telling it to only fill if price hits a target and how it knows to close at profit target or Stop loss.
@@penzput No worries no worries. I think once you setup a demo account and play around with the orders you'll get a good feel for what's going on during my live sessions
What is time frame for scalping?
Michael, have you ever thought about taking small size and trading the daily. Once it shows the trend in the morning, jump out at the end of the day. Get the whole candle of the day.
That's definitely a possibility, but some days the markets trend up and then reverse. We'd have to backtest and see how well that kinda of strategy does
what time frame are you on...
A 2000 Tick Chart. A little different than your normal time chart
I consider you as my tutor.. Thanks
Thanks buddy..!! You can also reach out on telegram @michael_chin1 for more information and guidance
are you scalping with options ?
No, S&P 500 Futures
Amazing
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