Webinar: Private Banker's Perspective on Risk Management Presentation - Psychology and Money Management | futures io social day trading
futures io futures trading


Webinar: Private Banker's Perspective on Risk Management Presentation
Updated: Views / Replies:10,693 / 62
Created: by Private Banker Attachments:2

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 2  
 
Thread Tools Search this Thread
 

Webinar: Private Banker's Perspective on Risk Management Presentation

  #41 (permalink)
Midnight Sun Trader
Anchorage Alaska
 
Futures Experience: Intermediate
Platform: IRT, Sierra & TOS
Broker/Data: Infinity/DTN-IQ, TOS
Favorite Futures: ES, 6E, Options
 
jphillips9's Avatar
 
Posts: 21 since Apr 2011
Thanks: 7 given, 10 received


Big Mike View Post
I posted earlier today that Ben will return in August for another webinar about Balance vs Imbalance, and how to trade it.

Mike


I look forward to it. I only wish it was sooner!!!

Reply With Quote
The following user says Thank You to jphillips9 for this post:
 
  #42 (permalink)
Midnight Sun Trader
Anchorage Alaska
 
Futures Experience: Intermediate
Platform: IRT, Sierra & TOS
Broker/Data: Infinity/DTN-IQ, TOS
Favorite Futures: ES, 6E, Options
 
jphillips9's Avatar
 
Posts: 21 since Apr 2011
Thanks: 7 given, 10 received


Big Mike View Post
What did everyone think of the webinar?

Mike


I thought he did an excellent job and look forward to more.

Reply With Quote
The following user says Thank You to jphillips9 for this post:
 
  #43 (permalink)
Elite Member
denver, colorado
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: ZS
 
Surly's Avatar
 
Posts: 704 since Mar 2011
Thanks: 628 given, 1,242 received


Great webinar Ben - thanks for sharing your time and perspective. One of the difficulties I have is fading the high or low of the day (usually in the morning) when I expect that the market is going to stay in balance and potentially test the other side of balance. Sometimes this is very clear, for instance when a market opens up inside the range and value of yesterday and has comparatively low volume. However, my difficulty lies in not quite trusting the range to hold - essentially being too afraid of a breakout move. Some of this I think comes from a conscious or subconscious desire to have the market breakout and start trending with me aboard - consequently I'm not always as attentive to the signs that we are going to stay in balance.

Of course at some point you have to make your best judgment and either take a trade expecting the market to stay in balance or not and then manage the position based on what happens next. That said, can you provide any rules of thumb or tips/advice on some of the things you need to see that convince you a market is more likely to stay in balance rather than breakout? (I realize you are now planning on doing a webinar on this late summer but perhaps you can provide some context for us in the meantime). Thanks in advance and thanks again for the webinar!

Seek freedom and become captive of your desires. Seek discipline and find your liberty. - Frank Herbert
Reply With Quote
The following 5 users say Thank You to Surly for this post:
 
  #44 (permalink)
Elite Member
Victoria BC/Canada
 
Futures Experience: Advanced
Platform: Investor RT, Ninjatrader,
Broker/Data: DTN/CQG/Rythmic
Favorite Futures: ES ,Currency Futures, Oil , Gold
 
Posts: 41 since Nov 2011
Thanks: 95 given, 29 received


Big Mike View Post
What did everyone think of the webinar?

Mike

It certainly did not disappoint. The preparation and thought process were excellent, thorough and detailed to include the wide level of experience and background one gets at the futures.io (formerly BMT) webinars. It's a rare treat to hear from Ben himself, and it really gave some perspective to his sometimes enigmatic posts and replies in threads here. Now that I have a grounding in his management methodology, his posts make much more sense. His explanations were clear, thoughtful and his presentation style is easy to warm to, and stay with for a long time period. That was a long webinar, went by in a flash! The generous offering of his time to include written replies to the posted questions was unique and I hope inspiring to everyone.
Measuring and Managing risk: For me this was the gem of the webinar, and beautifully presented! Clear and accurate examples, detailed results and a sound management technique, to give traders another terrific tool for their box. It might not be something to use everyday, but as an example I shorted ES near the end of today using this technique and took more out than the trade distance was worth, thanks Ben ! Kept a core position running and grabbed the drops and took the profits. I moved my core stop along with the trade, not wanting a reversal to lose more than 2-3 points in profit, with the clock running.
Thank you for including him in the stellar line-up for the anniversary edition, he more than deserves to be on it!

Reply With Quote
The following 2 users say Thank You to Shamal for this post:
 
  #45 (permalink)
Elite Member
La Jolla, CA
 
Futures Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker/Data: Advantage, Trading Technologies, OptionsCity, IQ Feed
Favorite Futures: CL, NG
 
Private Banker's Avatar
 
Posts: 1,040 since Jul 2010
Thanks: 1,713 given, 3,759 received


Surly View Post
can you provide any rules of thumb or tips/advice on some of the things you need to see that convince you a market is more likely to stay in balance rather than breakout? (I realize you are now planning on doing a webinar on this late summer but perhaps you can provide some context for us in the meantime). Thanks in advance and thanks again for the webinar!

Thank you! Some general rules of thumb and I'll definitely expand upon this in the coming webinar would be the following:

1. What type of day was the previous session? Profile Type?
2. Where are we opening in relation to the previous session's profile?
3. What has the overnight session done?
4. Are we opening in the ON session's value or is the market imbalanced? (trading outside of the globex/VWAP developing value)
5. What is the macro perspective telling you? This would include any sort of trend channels, moving averages or any other details that could offer a clue on directional bias.

As far as fading a move, the general rule there would be to typically never fade a market that has been trading in an imbalanced state or better said, trending outside of value. If the market is trading within value and all of a sudden the market spikes up and out of it, then it would make sense to fade that move. Reason being the market is balanced and any deviation from that should return to the mean.

For a balanced market scenario, just picture an auction. Let's say everyone is agreeing on price at 1650 and for some reason, price auctions up to 1655. The perceived value is around 1650 but price has moved up to 1655 which has buyers thinking that's too expensive and they back off. This creates an imbalance where sellers are now overpowering buyers because they are wanting to sell at those higher prices but buyers don't want them. Same goes for the other direction.

Now for an imbalanced market scenario, picture the same auction. Whatever the item is that's being bought and sold has some news that comes out that changes the perception of value. So in this example, we have buyers and sellers agreeing on 1650 but a news announcement comes across that makes 1650 sound really cheap. What do you think happens next? Buyers step in and buy everything. They absorb the sellers at those current levels which then leads to a major buy side imbalance and buyers become more aggressive and start jumping over each other and buying at the market. This is not a scenario where you would want to try and fade the higher prices.

This is obviously very general and I'll definitely go in to more detail later. But I hope that makes sense.

Cheers,
Ben

Reply With Quote
The following 19 users say Thank You to Private Banker for this post:
 
  #46 (permalink)
Elite Member
seoul, Korea
 
Futures Experience: Intermediate
Platform: Multicharts
Broker/Data: CQG, DTN IQfeed
Favorite Futures: YM 6E
 
treydog999's Avatar
 
Posts: 894 since Jul 2012
Thanks: 291 given, 1,006 received

@Private Banker

In the webinar you mention managing losing trades or adds/scale-ins that are not working well. Could you give a brief example about that?

Reply With Quote
The following 2 users say Thank You to treydog999 for this post:
 
  #47 (permalink)
User requested to be banned
Orlando, Florida
 
Futures Experience: None
Platform: shoes
Favorite Futures: happy
 
GaryD's Avatar
 
Posts: 6,462 since May 2011
Thanks: 2,090 given, 5,027 received


Big Mike View Post
What did everyone think of the webinar?

Mike

Very well thought out and arranged, very clear and to the point, great visuals and explanations.

Reply With Quote
The following user says Thank You to GaryD for this post:
 
  #48 (permalink)
Elite Member
La Jolla, CA
 
Futures Experience: Master
Platform: Sierra Chart, X_Trader Pro, OptionsCity
Broker/Data: Advantage, Trading Technologies, OptionsCity, IQ Feed
Favorite Futures: CL, NG
 
Private Banker's Avatar
 
Posts: 1,040 since Jul 2010
Thanks: 1,713 given, 3,759 received


treydog999 View Post
@Private Banker

In the webinar you mention managing losing trades or adds/scale-ins that are not working well. Could you give a brief example about that?

I'm not sure I discussed this but good question. If I have a scale in to my position and it doesn't continue in my favor I make a judgement call on whether the total position is still valid and whether or not the intended target still appears to be attainable. Let's say we have a trending day and I add to my position when the move is mature and that add goes against me without getting a scale out, I would need to make a decision on whether or not to stay with the trade.

Take a look at an earlier post (#40) where I reference this. The key is to not add to a position when the move is mature. But that's another conversation in of itself. The earlier post provides a good visual of what I'm referring to in this regard.

Hope that helps, I can always expand upon this.

Cheers,
Ben

Reply With Quote
The following 4 users say Thank You to Private Banker for this post:
 
  #49 (permalink)
Elite Member
Hong Kong
 
Futures Experience: Intermediate
Platform: NinjaTrader, TWS
Broker/Data: IB/Kinetick
Favorite Futures: ES
 
Posts: 233 since Jan 2012
Thanks: 130 given, 306 received

Hi Ben,

Many thanks for taking your time for the webinar. Most valuable and much appreciated. Look forward to future offerings.

Ref your website setup, note that your non-www domain does not work. ie, http://leprivatebanker.com does not work (and it should). Most people these days do not bother typing in the www (or should not bother) so you need to fix your site htaccess file to open up this domain.

PS. Mike - thanks for fixing the video replay. Assume you have done something as webinar played from start to finish with no skipping back. Wonderful.

Richard
Hong Kong
Reply With Quote
The following user says Thank You to RichardHK for this post:
 
  #50 (permalink)
Elite Member
sanfrancisco
 
Futures Experience: Advanced
Platform: Ninjatrader,TS,IRT
Broker/Data: IQfeed
Favorite Futures: ES
 
Posts: 45 since Feb 2012
Thanks: 26 given, 21 received


thanks ben for great clarification.

identifying the day type early is the key. based on the pre market analyses, market open with respect to previous days value, we will have day type expectation.
example: open out of range, expect trend day in the direction of gap or open test drive

based on my observation, if the market trades in the direction of gap for more than 3 points in ES with out filling the gap, then we have very very less chances of filling the gap in that day.

it will be great, if you can explain or give some base point to start analyses to identify day type early in the day based on that days trading session (developing day). at what point of time you will change your initial perception on the market (from trend day to any other type of day or any other day to trend day)

example: based on pre market analyses, expectation is trend day, at that point of time you will start feeling that yes it is trend day.

sorry for lengthy question, looking for some kind of base point to start analyses to identify probable day type as early as possible in the developing day with respect to pre market day type expectation.

thanks,
GSREDDY.
Reply With Quote
The following user says Thank You to GSREDDY for this post:

Reply



futures io > > > Webinar: Private Banker's Perspective on Risk Management Presentation

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Webinar: Ernest Chan on Capital Allocation and Risk Management (Kelly) Big Mike Psychology and Money Management 27 May 2nd, 2016 07:06 PM
Webinar: FuturesTrader71 (FT71) on Risk, Sizing, Scaling and Trade Management Big Mike Psychology and Money Management 135 March 13th, 2013 06:45 AM
Webinar: NinjaTrader Strategy Development on Risk Management Big Mike NinjaTrader Programming 19 September 22nd, 2012 06:32 PM
Risk Management embedded in charts Treggs NinjaTrader Programming 4 November 9th, 2010 09:16 PM
Free Risk Management Game... Jugador Psychology and Money Management 0 August 20th, 2009 10:58 AM


All times are GMT -4. The time now is 06:51 PM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.16 seconds with 20 queries on phoenix via your IP 54.145.16.43