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.
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.
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)
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?
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..
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.
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!
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.
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
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.
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
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
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.
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.
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 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.
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.
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
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.
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?
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
Mate you are seeing 2 leg pulls everywhere even if they are barely there and not trading most of the ones that are actually visible, what is that all about? Plus how tf do you make 50 bucks per contract on 1 point movement?
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
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?
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.
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!
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?
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?
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)
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?
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
total for your day 5 win 1 loss . But in that 1x lost trade, you went from $ 800 to $400... that s quiet a hit. if you add a 5 win -2 loss you would be at Break even right ?
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
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 ?
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
Bro I like your channel you put me on to Ninja trader it's a clean platform! I can't wait to get familiar with and have it set up the way I like it. Then start making money in the Frx Market! Let's go!
Why don’t you use a trailing stop? I use a very similar ATM as you with the exception of the stop and I’ve notice my profits are way higher with the trailing stop.
I've thought about that. I'm still balancing out my runner strategy. I wanna collect some more data points before I make a hard decision on what I want to do
I’ve noticed 95% of the time when I moved to runner to stop to break even it would get stopped out before any reasonable profit but with the trailing stop I average between 4 to 10 ticks per trade. And I trade 10 contracts to profit 1 point and 5 runners, it makes a big difference in my overall daily performance.
I was wondering when you were finally going to show a failed trade. 1:2 reward to risk seems excessive , it that the only way you can get this strategy to work buy using double the risk?
Yup, this strategy demands us to have at least a 70%+ win rate to be making money, but the strategies that I use are (in my mind) 95%+ win rate setups as long as you are reading the price action correctly
@@MichaelChin If you risk 2 points to make 1 point, you need a 70% win rate (actually 67%) just to break even. There are times when ES volatility is so high that a 2 point stop won't be big enough. If your stop is too tight, you'll get stopped out even you were right about strength and direction. The choice of a 1 point profit target is arbitrary. The choice of profit target and risk should be tied to volatility or setup bar size or ATR.
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.
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.
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!
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?
Hey Michael, I feel like I'm learning great strategies from you. Thanks for the content!
he only teach 1 stratigy
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..
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.
I think this was the clearest video on two legged pullback so far.
Oh thanks..!! You can reach me on telegram @michael_chin1
Riley brought me here😁 you two make a good team👍
Thanks Christopher!
Very easy to digest, thank you so much for the information.
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, how much fund do I need to start trading futures?
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!
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 ?
how do you trail stop on ninja trader, your stop gets pulled automatically ? what is the automation for that?
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
what is the timeframe chart do you trade for this video? Thanks.
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
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!!
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 ninja trader have hot keys for order entry?
Does this only work on a 2000 tick chart?
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 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!!!
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
Which platform 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!!!
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!!!
Just found your channel... Referred from your friend Riley.
Excellent content..... Thanks for sharing.
No worries, thank you for the support!
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.
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!!!
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.
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!!!
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 :)
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 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
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!!
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
hi.what platform do you use for your trade?
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
Thanks Riley! What a great find just as I am brushing up my futures trading strat.
Awesome! Glad Riley recommended me
Love the video's and the technique your mastering!! Best wishes!!!
Hi.
These are great. Keep them up!!!!
Thanks man!
Hi great videos, what platform and tools do you use?
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.
Hi Michael which platform are you using is this IG
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!!!
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.
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.
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.
Hi.
Thanks for being a part of a supportive community! 👆Help!!
where is the guide does anyone know?
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.
What is the time frame is it 1min or 5min chart
thanks for the video can`t wait for next week
Thanks for the support Chris!
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
Mate you are seeing 2 leg pulls everywhere even if they are barely there and not trading most of the ones that are actually visible, what is that all about?
Plus how tf do you make 50 bucks per contract on 1 point movement?
its es mini contracts one point = 50dollars
What shortcut key are you using for the Sell stop?
How come you stopped making videos 2 yrs ago?
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.
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
1pip profit? How about the spread? My broker have about 30 pip spread. How does he open ordet like that?
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?
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 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!
Hey man! What is the program you use to record yourself? Love the vids!
Hey Michel,
Love your videos! Any chance you could share your ATM strategy? Thanks.
Check it out here!
ruclips.net/video/GmTxWxhiC2c/видео.html
What platform are you trading on in this video?
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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.
Whats tthemoving average?
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!
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
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)
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?
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What is the brokerage.
+ Taxes on 4 contracts?
Also here from Riley's channel. Looking forward to the guide!
Awesome Don! Glad Riley sent you over
Which time frame do you use?
Michael .. Nice job !!
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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Hi Michael does it work with S§P 500 CFD?
Thanks
Yeah, just try and reach me on telegram @michael_chin1 for more information and guidance
total for your day 5 win 1 loss . But in that 1x lost trade, you went from $ 800 to $400... that s quiet a hit. if you add a 5 win -2 loss you would be at Break even right ?
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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
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 ?
What is time frame for scalping?
What broker platform you use?
Try and reach out on telegram @michael_chin1 for more information and guidance
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
What does a runner mean?
Hey Michael, Great video man! What are you using to edit your videos?
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Insane day, congrats!
Thanks! Everything was going well until that slip up :/
Bro I like your channel you put me on to Ninja trader it's a clean platform! I can't wait to get familiar with and have it set up the way I like it. Then start making money in the Frx Market! Let's go!
How do we know you are not using market replay?
sir chin can we copy your trade ?
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Why don’t you use a trailing stop? I use a very similar ATM as you with the exception of the stop and I’ve notice my profits are way higher with the trailing stop.
I've thought about that. I'm still balancing out my runner strategy. I wanna collect some more data points before I make a hard decision on what I want to do
I’ve noticed 95% of the time when I moved to runner to stop to break even it would get stopped out before any reasonable profit but with the trailing stop I average between 4 to 10 ticks per trade. And I trade 10 contracts to profit 1 point and 5 runners, it makes a big difference in my overall daily performance.
@@MARCELOJANE can you share your settings for trailing stop. I'm currently paper trading different strategies. Thank yo
Pan Tac email me at marcelojane1@protonmail.com and I’ll email you screenshots
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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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 consider you as my tutor.. Thanks
Thanks buddy..!! You can also reach out on telegram @michael_chin1 for more information and guidance
Hi Michael, I have a question about real time quote. Is the quote for ES is the same as actual s&p 500? Thanks!!
They are two separate instruments so no, but they are correlated and tend to be the same
I heard it cost about $1500 to get the license to trade with Ninja Trader?
I was wondering when you were finally going to show a failed trade. 1:2 reward to risk seems excessive , it that the only way you can get this strategy to work buy using double the risk?
i think he's able to do this because he has such a ridiculously high winrate %
Yup, this strategy demands us to have at least a 70%+ win rate to be making money, but the strategies that I use are (in my mind) 95%+ win rate setups as long as you are reading the price action correctly
I was hoping I'd never have to show you a failed trade...
@@MichaelChin If you risk 2 points to make 1 point, you need a 70% win rate (actually 67%) just to break even. There are times when ES volatility is so high that a 2 point stop won't be big enough. If your stop is too tight, you'll get stopped out even you were right about strength and direction. The choice of a 1 point profit target is arbitrary. The choice of profit target and risk should be tied to volatility or setup bar size or ATR.
how does the sell order work?