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Webinar: Finding Success in Futures Trading w/John Hoagland
It is my pleasure to welcome back John Hoagland from @TopstepTrader for a webinar on Tuesday, June 6th @ 4:30PM Eastern US.
The title for this webinar is "Finding Success in Futures Trading", and bullet points include:
- An honest conversation about futures trading
- Straight answers to questions on everyone’s mind
- The journey to becoming a profitable trader
- Important tools that aid you in the journey
- Being humble and having humility in trading
- Much more, plus Q&A from members
Big Mike, currently gaining experience with playbacks and simulation before going live, as I am still working full time. Do you create podcasts of the webinars? If yes, is that Elite Level? Thx. SleeperG
This webinar got me thinking about two key things: count your successes at the end of the day and make good trading decisions. Watching John's webinar and getting these messages is definitely a little success that will help to get bigger successes. And, as far as a good trading decisions, going to bed on time is a key decision as much as watching one webinar a day.
One note, I was a bit disappointed my question wasn't asked of John. He has seen a lot of his 30 some plus years and he probably could have shed some of his unique common sense on this concern. Perhaps, my question could have been written better, but, the gist of it could have been addressed:
"Regarding risk management, what happens when someone is long 3 ES contracts and a terrible event like North Korea nuclear action or California getting hit with the big one happened, how would that trader's liability unfold? It seems the fact that, say, a 10 ES contract trader is liabalbe for over 1 million is never discussed by any one. Given your 34 years, how would you see such events impact a futures day trader with 3-5 open contracts, or even one contract? Thank you for your time today."
So, if anyone has insight or experience with this concern, it would be helpful in understanding how to prepare for the ultimate risk of serious ruin events. Personally, all I can think of is stops, but if the market drops fast during RTH (when I plan to trade), would a really low stop (like 10%, like 230 pts) be more helpful than just a 3 pt stop. And, what would be the effect of circuit breakers - like, if I am in long and one kicks in before my stop does?