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is not indicative of future performance or success.
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First of all, please don’t sub to anything till you do due diligence. But I do hope you keep it in the watchlist in the months to come. This could be part of your medium risk/high return portion of the portfolio.
I use only intraday Margin. So all positions are closed before 4:15pm close or any earlier closing time. My broker’s intraday margin times are between the open at 6pm till 4:15pm. If your vary please let me know.
This is a manually traded system focused primarily on Index, ES more than others. ES provide sufficient liquidity for subscribers and to minimize any slippage.
I can do well in both trending and chopping/ranging environment. Area of interest are identified using VSA method for support and resistance. Mixed in with Volume profile analysis and Price Action entries.
Every trade will have a STOP identified before entry is placed. And scaling into the position within a certain range is part of the system. This scaling is not wide.
Trade sizes:
All trades will be increment of 1-2 contract per trade on Index(ES/NQ). And only 1 per order on rest (CL/GC/NG etc)This is to help for those scaling in.
Please have intraday Margin available for trading between 9AM-4PM EST if you decide to follow the system. Usually max position size will be 1contract per 5k. This can be changed upon subscriber request if necessary.
Cheers,
Current sub fee is just during this promotional period as I build a record. In the future will be increase according to performance.
1- The size depends on how many levels of fills I get. On Es for example, if I identified a demand zone around at 6390, then I have a stop below it around 6386-87. Entries on this particular trade could be from 6395 all the way down to 6390. If if bounces before 6390 I would not have entered the full position. Hence the discrepancy on trade sizes. This will vary as the market evolves. We have lot of volatility now, so entering at different levels on ES is feasible. If market goes back to the semi-dormant state we had previously this would obviously change.
There is one trade today of 8 contract which was by accident. It was meant to be 4, but I double clicked.
2- This is why I choose ES primarily as it is the most liquid market out there, so slippage should be minimal, CL would be a close 2nd. There might be lag due to platform transmit but I won’t know that till more time have passed. I will be mindful of order per level into consideration during trading session as well. Obviously if it’s just 5-10 per level, subscribers would suffer, that’s not something in my best interest.
Today was really just chopping around till later in the session. Most entries had no
follow through and just hit my stop that are moved up to lessen risk/protect profit. So this might look like scalping
That depends on your definition of Martingale system. If any sort of averaging down then I guess it is.
My definition of it is averaging down over a long period of draw downs without stops, hoping for it to turn.
I’m averaging in over an average of $200 zone, which is like 4points on ES and 10 points on NQ. In this volatile Environment i feel it is necessary and should be expected imo. Hard to pin point any single entry. Stops are also placed just a few points behind the last entry
At least this guy uses stoplosses and trailing stoplosses. Not MCProTrader and Simplicity kind of calibre. It’s not a martingale because he uses tight stops.
I am definitely going to keep an eye on it. The large number of trades could be a little offputting for some.
The system is called Millionairemaker, how long will it take you to make us a millionaire, Jay?
@DogZebra_Investing I’m no one interesting, just an average trader who loves analyzing the market and making money. I quit my job 2 years ago to do this full time. You can expect me to baby sit all the trades during market hours.
@CsabaBiro01 let’s just say any consistent strategy making 2 ES point a day could double an account every couple of month depending on leverage used. Can do the math from that point on
I suggest you reduce the number of contract you trade each time to 1 for small accounts. It is possible to scale down the initial multiple number of contracts such as the one on 2/13/19 @10:08 to 1 but then when you sell 1 contract to reduce the total number to 3 or 25% of 100% then how can a person with an initial scaled down contract of 1 reduce 25% of it?
I’m sticking with up to 8 on a trade idea for now, although this shouldn’t be common. Most trades would end up around 4 contracts. Stops are always not too far behind the last entry.
Based on feedback I get could change in a later date.
Just got out this session. Feel like I had to summarize session action a bit as it is a bit abnormal from 3rd party perspective.
This morning was distracted replying on C2 and lost track of time for the 8:30 report. The Gold entry got smoked and even dragged in some fading entries i had up. I had to close market order right away as I was unprepared. Slippage made it a significant loss. This was totally my mistake.
Afterwards while action is standard but what made it necessary to talk about it is the risk management protocol. On ES the idea was 2660 Bull/bear zone, short below, long above. Which is what I did and as you can see the initial shorts got run over. Once above 60 and from the price action that followed I could tell it’s a failed breakdown. The next problem was I scaled in too fast and had stop that’s too tight for the volatility and that was stopped out despite being up significantly at one point.
But the Price action is clear and I have seen it many times this type of failed breakdown. I had to bend the rules a bit in order not to miss what I consider a high win % setup. This is where I guess the discretionary trading comes in. The last trade on that was scaled in on the way up, buying dips, and made back most of the losses. Gotta press a winning setup imo.
@Jayy, you might want to tone down the contract sizes for those that are risk adverse! lol…
A suggestion, @Jayy is that if you want more subscribers you will have to consider the risks the subscribers are willing to take in your system. I don’t think its wise for any system to put on the sizing you just put on today in a single trade. So it might be in your best interest to not average down so often and so many contracts for a single trade. If this were your money I doubt you would want a drawdown of 5k in 1 trade, correct?
I would suggest to put on a maximum of 3 or 4 contracts in total and let the subscribers decide if they want to scale up.
A number of martingale strategies here had already bit the dust doing what you are doing so hope you don’t follow suit.
