I got into trading a couple years ago. Busy busy life and work but still been sticking with it. I used to keep trying for home run days and would give back the money I made and then some to the market. This last month I've really been working on patience and being happy with my base hits. I have a take profit for 10 points and if I hit it in done. Plus I have cut my trades down to just a max of 3. I have found that it was my losing days that have really hurt in the past and now I know that a bad day will only be the same as one good day. My account had been chopping around with just a couple hundred bucks and now that I've really stuck to these rules I've gone from 100 dollars last month to a little over a thousand today. Thank you because you have helped me get another couple pieces together. I'm never going to be done learning but I feel like it's finally starting to come together.
Congrats Jason, That is awesome to hear! Yes, the really bad days are what will ruin you. Those need to be totally cut out by your rules and trade plan and it sounds like you’ve got that figured out. Onward and upward!
Thanks for sharing your story Jason. It's really helpful to read your experiences. I kept violating my own rules and giving all my money to Mr. Market. Overtrading and revenge trading is the worst thing. Now, I'm working on being more patient and not over trading, just taking only 2-3 trades per day. It's important for me is to set a profit and loss target for the day and stick to it. Thanks again for giving a fellow aspiring trader some hope.
I am learning myself, for about 3 weeks now and just wondering if 1-3 trades would make sense while I am learning, I mean it would be very slow learning path. I am trading paper money so I was wondering if just a few trades at the beginning is useful. I try to trade much more, I mean I am losing a lot of times, but since I am learning with paper money probably a lot of trades is a good thing at the beginning? Or else learning curve will be very slow.
thank you ! you are down to earth. You sharing information without selling a course. So many traders selling a course and we dont even know if they are good.
Really appreciate your answer even though my question wasn’t trading related! Really cool! Love that added touch of originality. A keyboard sits in my office which is my outlet for that part of my brain! 👏🏼😉
great video and thanks for sharing! Just a quick thing about prop firms, imo theyre way better to train on than a simulator because you actually have something at risk: the cost of the account, and if you do manage to pass you can build capital up without risking much of your own. From experience I can tell you, at least for me, that it has the same "feeling" as real money because essentially it is! I get you about the responsibility part though, that does make sense. Having it be 100% your own money would certainly make a difference. However as a tool to train and build up to be able to trade your own account one day I , personally, think prop firms can be a great tool.
Hi Matt, I have to laugh at this, but it's been almost a month since you responded to my question, which has been a month old when you put the video out. Haha, the irony. Thanks so much for answering it and for the warm words. Always a pleasure to see new content from you. P.S. I've been focusing a lot on Jim Dalton's teachings recently. He mentioned that there are fast and slow traders (referring to fast and slow types of thinking, not reaction time). When he described the fast trader, who reacts to daily levels, is quickly in and out etc. I immediately thought about you. Wish you all the best!
Wohoo! Love these giant Q&As! Thanks Matt. For anyone that wants to chat about ES trading, I recently started a discord group, feel free to email me and I'll send you the invite. I haven't been able to find other groups that talk about discretionary ES futures trading like Matt does, it will be a good place to exchange ideas and share strategy
@@grimminatorXYZ RUclips tends to delete comments with links, feel free to find my email address in my "About" page and send me an email, I'll send you the link
@@koolman280 I can’t find your email in the about section of your channel, maybe could you just send me the extension of the invite? Just the random letters at the end of the link, not the link itself.
Thanks for another great Q&A video Matt. You briefly mentioned the opening range, which is one of my favourite setups to trade (the first 30 mins). Taking trades from and aiming for the top, bottom and especially 50% range of the opening range has worked really well on the ES lately.
Thanks for answering our questions! You said that you had your trade plan written out and criteria for your trades, etc.. Would you be able to share that with us like your cheat sheet? I often find myself trying to trade on instinct alone and it often gets me carried away. On the other hand, relying on indicators and following a rigid system alone is also trouble. Specific criteria that you advise would really help.
Great QnA video, Matt. Please let us know if there is anyway to get to your old newsletters. I missed out on a bunch, and would love to go back and read them and educate myself. On the other video - yes please post on twitter your updates or thoughts on the market. It will definitely help us navigate better!
Thank you for the response! I understand, and thanks for your honest take on them. I still am deciding whether they are a good route or not for just getting started after demo trading. The one I’m looking at requires a profit of $1750 before loosing $1500. There is also a daily loss limit of $550. You have one month to make this profit, if not you pay the fee of 150 but most of the time it is discounted. There is also a “consistency” rule that says a single trade cannot make up more then 30% of the total 1750 profit goal. If you pass, you take the same test again and you no longer have to pay a fee. You get 80% of the profit and keep going through similar tests, for example the next one is profit $3000 before loosing $2000 with a $1100 daily loss limit. You have the chance of scaling up all the way to a $200,000 account. Like you said though, if you pass the first two tests and fail the third, you got to pay the fee again. Thanks again for the response, sorry for the long message. This video is filled with lots of helpful information. I am very thankful for the content you give to people freely, In my opinion it is the best on RUclips haha.
A lot of great questions. Well done my friend. If you can get your Prime Minister to let me in, I'll come up and do some work to help out. Hope mom is enjoying her new home.
HA! Thanks Syd, I think we're finally almost done, just in time for the housing market to tank lol. Just read a headline that we are now requring entrance testing again, even for those with shots.
2 года назад+1
Thanks for the answers Matt! Rough streak turned into a rough month, the hardest part is not having a clue of what changed hah. Psychology? The Market? But gonna take a break and experiment with a couple variables to see if I find any answers. About trading one MES, that could be fun. Related fun question, why do some dudes trade like 188 micro contracts instead of going to the mini? To feel like a big daddy? Isn't liquidity worse? It's interesting.
Trading even 10 micros (using the YM as the example I know) is very inefficient due to commissions. On a 10 lot MYM position commissions equal $12.40, I could trade 1 YM lot at only $5.70. That is over a 100% increase in commissions.
Год назад
@@tendaychart So why do they do it? It's on the time and sales all the time
Good question. I do not know. They might be large position players trying to push price around. They might be algos running their game. But for a smaller daytrader the instrument is just not efficient, if one can trade the mini with even 1 contract. The players who trade the Micro do not have enough capital to trade the Mini. The CME created this contract just to draw in more under capitalized traders and then charge them higher commission ratios. They know 90% will lose and just be replaced by more under capitalized traders. They are not doing it to help the traders. It's just a way to increase income for the CME. IMHO!
@@DTND Thank You. I haven’t gone through all your previous videos and I’m in the process . But can you direct which ones I would watch to understand your strategy?
Hi Matt, How do you recommend to learn off there are so many courses out there and a lot of fake guru's who do you recommend learning off for intraday trading, how did you learn?
Really appreciate the consistency in uploading and the content, would you say there are any commodities worth trading at larger buy orders i.e. trading soybean meal at 10 or 15 shares
Hi Matt, great video. I would love to see a video where you elaborate more on your written trading plan and rules. I think it could be helpful to many people. Hope you have a great day.
I got into trading a couple years ago. Busy busy life and work but still been sticking with it. I used to keep trying for home run days and would give back the money I made and then some to the market. This last month I've really been working on patience and being happy with my base hits. I have a take profit for 10 points and if I hit it in done. Plus I have cut my trades down to just a max of 3. I have found that it was my losing days that have really hurt in the past and now I know that a bad day will only be the same as one good day. My account had been chopping around with just a couple hundred bucks and now that I've really stuck to these rules I've gone from 100 dollars last month to a little over a thousand today. Thank you because you have helped me get another couple pieces together. I'm never going to be done learning but I feel like it's finally starting to come together.
Congrats Jason, That is awesome to hear!
Yes, the really bad days are what will ruin you. Those need to be totally cut out by your rules and trade plan and it sounds like you’ve got that figured out. Onward and upward!
Thanks for sharing your story Jason. It's really helpful to read your experiences. I kept violating my own rules and giving all my money to Mr. Market. Overtrading and revenge trading is the worst thing. Now, I'm working on being more patient and not over trading, just taking only 2-3 trades per day. It's important for me is to set a profit and loss target for the day and stick to it. Thanks again for giving a fellow aspiring trader some hope.
I am learning myself, for about 3 weeks now and just wondering if 1-3 trades would make sense while I am learning, I mean it would be very slow learning path. I am trading paper money so I was wondering if just a few trades at the beginning is useful. I try to trade much more, I mean I am losing a lot of times, but since I am learning with paper money probably a lot of trades is a good thing at the beginning? Or else learning curve will be very slow.
thank you ! you are down to earth. You sharing information without selling a course. So many traders selling a course and we dont even know if they are good.
Love love love your good dogs! Amazing channel thank you to you and Iman for what you do! Phenomenal
Really appreciate your answer even though my question wasn’t trading related!
Really cool! Love that added touch of originality.
A keyboard sits in my office which is my outlet for that part of my brain! 👏🏼😉
That's awesome Mark! That part of my brain is most of it really lol
Thanks for reacting to my comment Matt. You're doing a lot for the community!
Thanks Bart!
great video and thanks for sharing! Just a quick thing about prop firms, imo theyre way better to train on than a simulator because you actually have something at risk: the cost of the account, and if you do manage to pass you can build capital up without risking much of your own. From experience I can tell you, at least for me, that it has the same "feeling" as real money because essentially it is! I get you about the responsibility part though, that does make sense. Having it be 100% your own money would certainly make a difference. However as a tool to train and build up to be able to trade your own account one day I , personally, think prop firms can be a great tool.
I look forward to your videos everyday! Thank you for the 35min long Q&A video Matt.
Glad you enjoy it!
Hi Matt,
I have to laugh at this, but it's been almost a month since you responded to my question, which has been a month old when you put the video out. Haha, the irony. Thanks so much for answering it and for the warm words. Always a pleasure to see new content from you.
P.S. I've been focusing a lot on Jim Dalton's teachings recently. He mentioned that there are fast and slow traders (referring to fast and slow types of thinking, not reaction time). When he described the fast trader, who reacts to daily levels, is quickly in and out etc. I immediately thought about you.
Wish you all the best!
Wohoo! Love these giant Q&As! Thanks Matt. For anyone that wants to chat about ES trading, I recently started a discord group, feel free to email me and I'll send you the invite. I haven't been able to find other groups that talk about discretionary ES futures trading like Matt does, it will be a good place to exchange ideas and share strategy
Hey Koolman, that’s a great idea
Hey @koolman280 , do you have an invite link? I’m interested in joining your server!
@@grimminatorXYZ RUclips tends to delete comments with links, feel free to find my email address in my "About" page and send me an email, I'll send you the link
@@DTND Thanks Matt, if it happens to get enough attention and you have the desire I would love to grant you administrator rights on it.
@@koolman280 I can’t find your email in the about section of your channel, maybe could you just send me the extension of the invite? Just the random letters at the end of the link, not the link itself.
Thanks for taking the time to answer! second time you answered my question so far, appreciate it.
Thanks for another great Q&A video Matt. You briefly mentioned the opening range, which is one of my favourite setups to trade (the first 30 mins).
Taking trades from and aiming for the top, bottom and especially 50% range of the opening range has worked really well on the ES lately.
Hey thanks and glad it’s working well for you!
Do you make your range off of the first 30min?
Fantastic channel, thanks for the uploads 👍
Thank you for sharing your experience
Learning a lot of discipline from you😁
Happy to hear that! Thanks!
Thanks for answering our questions! You said that you had your trade plan written out and criteria for your trades, etc.. Would you be able to share that with us like your cheat sheet? I often find myself trying to trade on instinct alone and it often gets me carried away. On the other hand, relying on indicators and following a rigid system alone is also trouble. Specific criteria that you advise would really help.
Great QnA video, Matt. Please let us know if there is anyway to get to your old newsletters. I missed out on a bunch, and would love to go back and read them and educate myself.
On the other video - yes please post on twitter your updates or thoughts on the market. It will definitely help us navigate better!
Great Video Matt! I really love these Q&A's 🙌
Great video, always a pleasure to watch. Looking forward to tomorrow's trade!
Thanks Hareball! Was a wild morning, the part I traded anyway. Video is uploaded and goes live at 6.
Thank you for the response! I understand, and thanks for your honest take on them. I still am deciding whether they are a good route or not for just getting started after demo trading. The one I’m looking at requires a profit of $1750 before loosing $1500. There is also a daily loss limit of $550. You have one month to make this profit, if not you pay the fee of 150 but most of the time it is discounted. There is also a “consistency” rule that says a single trade cannot make up more then 30% of the total 1750 profit goal. If you pass, you take the same test again and you no longer have to pay a fee. You get 80% of the profit and keep going through similar tests, for example the next one is profit $3000 before loosing $2000 with a $1100 daily loss limit. You have the chance of scaling up all the way to a $200,000 account. Like you said though, if you pass the first two tests and fail the third, you got to pay the fee again. Thanks again for the response, sorry for the long message. This video is filled with lots of helpful information. I am very thankful for the content you give to people freely, In my opinion it is the best on RUclips haha.
Can you make a video on your strategy? Many thanks
A lot of great questions. Well done my friend. If you can get your Prime Minister to let me in, I'll come up and do some work to help out. Hope mom is enjoying her new home.
HA! Thanks Syd, I think we're finally almost done, just in time for the housing market to tank lol.
Just read a headline that we are now requring entrance testing again, even for those with shots.
Thanks for the answers Matt!
Rough streak turned into a rough month, the hardest part is not having a clue of what changed hah. Psychology? The Market? But gonna take a break and experiment with a couple variables to see if I find any answers.
About trading one MES, that could be fun. Related fun question, why do some dudes trade like 188 micro contracts instead of going to the mini? To feel like a big daddy? Isn't liquidity worse? It's interesting.
Trading even 10 micros (using the YM as the example I know) is very inefficient due to commissions. On a 10 lot MYM position commissions equal $12.40, I could trade 1 YM lot at only $5.70. That is over a 100% increase in commissions.
@@tendaychart So why do they do it? It's on the time and sales all the time
Good question. I do not know. They might be large position players trying to push price around. They might be algos running their game. But for a smaller daytrader the instrument is just not efficient, if one can trade the mini with even 1 contract. The players who trade the Micro do not have enough capital to trade the Mini. The CME created this contract just to draw in more under capitalized traders and then charge them higher commission ratios. They know 90% will lose and just be replaced by more under capitalized traders. They are not doing it to help the traders. It's just a way to increase income for the CME. IMHO!
What tick chart do you use? Is it the 4K one ?
Yes 4000 tick on the ES. For the MES you would use approx a 3000 tick to get a similar pace.
@@DTND Thank You. I haven’t gone through all your previous videos and I’m in the process . But can you direct which ones I would watch to understand your strategy?
Hi Matt, How do you recommend to learn off there are so many courses out there and a lot of fake guru's who do you recommend learning off for intraday trading, how did you learn?
Really appreciate the consistency in uploading and the content, would you say there are any commodities worth trading at larger buy orders i.e. trading soybean meal at 10 or 15 shares
Hello ! Great q&a love the content as always… iv seen it mentioned in comments on another video but can I ask what size tick chart you use ?
Hey Kevin!
4000 tick on the ES. For the MES, adjust it based on the difference in volume between the two contracts. Probably somewhere around 2000
@@DTND understood ! Thanks boss man
Hi Matt, great video. I would love to see a video where you elaborate more on your written trading plan and rules. I think it could be helpful to many people. Hope you have a great day.
Great suggestion!
I am trying to pass Earn2Trade trader career path but I can't seem to get it. The pressure of succeeding is making me fumble
Taking a break and demo trading on your own might not be a bad idea Haney, you can always go back to it later.