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Hi Salamanderforex, I only scalp the front month future contract of the Nasdaq. I also always look at the EUR and GBP for an intraday trade when the momentum is very strong. I think the best instrument for trading in general, is the one that you know the best. I like the Nasdaq future because...

Hi Sun, For every trade, my stop is at 50 ticks, which is $250 per contract. So my daily stop limit (cumulative loss) is at $500 per contract. This 50 tick stop is almost never hit: I just act before. This stop doesn't just stay on my trading platform, and it is here to give me confidence if...

Thinking risk and money management first makes a lot of sense. Your system makes sense to me even if I am not a fan of ATR, intraday. You could also try your formula with "True Range" (as Welles Wilder thought about it) with intraday volume charts and see the difference.

Seems like you did great for few days. Perhaps implementing a maximum daily loss like 100 or 125% of your average daily profits could help? You definitely should try again and perhaps on paper, especially after a big loss. Wish you the best.

The average duration of my scalp trades is less than 1 minute. Bull or bear has nothing to do with scalping. Liquidity and volatility on the other hand, help a lot.

Yes scalping is risky: To maximize few ticks, trading a larger size is essential: This is not forgiving. I "give" +15% of my gross profits to my brokers. Only 20% of my trades are limit orders, all others are market orders: I scalp the NQ future and I estimate that the slippage eats more than...

Amazing! Thank you.

Magnum, how do you do that on Tradestation?

https://www.bloomberg.com/news/articles/2020-08-15/day-traders-in-brazil-study-would-ve-done-better-with-9-to-5-job That seems to be more realistic :(

These days, traders use pivot points like they did in the old days :) Markets change but not pivot points. I like your question: I think if something worked in the old days and still work now, we should definitely focus on it.

Regarding my day trades: I focus on (all sort of) risks and on the direction of markets every day. I day trade futures, financials and indices. My 1st goal is no losing months. My 2nd goal is no losing weeks. This is how I know how successful I am. I also have a fixed maximum "authorized"...

Most of time, hedging a "buy and hold" portfolio will make things worse in the long term, especially with put options. Buying a short term put option when the sky is falling is way less damaging. You could use SPX instead of SPY, depending of your portfolio size : Less contracts = less...

To illustrate it: This is the continuous YM front month contract, with monthly bars from 2014 on the picture.

Not sure for other trading platforms, but I think it is a Tradestation (very useful) thing. And you still need to move to the "new contract" (rollover) around the 14th of September if you want to trade the most open interest and traded contract. So, the added "@" makes the front month contract...

This is the front month contract. It will expire the 18th of September. Adding "@" will make it continuous from more than 30y to the expiration date. Hope it helps. Good trades!

If you trade from a chart or if you want the same symbol on your Matrix (DOM), you can use the following type of contract: @ESU20 In that case, your continuous contract will expire in the middle of September like the traditional ESU20. Adding the "@" to your front month contract will also give...

I just trade on CME and CBOT, not on ICE exchange, this is why. Nothing more.

There is usually a decline of the Crude Oil future contract during July and August. It didn't happen yet. And, the COT shows a change in behavior of the big players last week. My chart shows an unfilled big gap and an interesting triangle pattern with hard time for bulls to fill that gap. I am...

I am very glad to "hear" from you. I read your books (yes both) many time, and I really think they are not outdated :) We just have to read again what Bruce Babcock said at the beginning of your 1st book, to be convinced. Thank you.

I would wait until "everything is aligned": It looks (from the COT) that Funds and CTAs are still short or at least not very long yet. And I don't see the usual Commercial COT activity (which is weird) during a bottom. Even if usually the bottom is reached between July and August, I think we...