It would be great if ALL micro traders would sign this:

https://chng.it/qBmbrRLNSH[/SIZE][/B]

@FuturesTrader71 I’m curious about your trading style. I’ve watched some of your morning trader bites and I can see what you’re looking at, but I’m wondering are you a scalper, trying for a point or 2 at a time? Are you going for bigger swings like 10 points? Or do you base your targets on current rotation size, which would change your targets constantly?

spideysteve 

@FuturesTrader71 I’m curious about your trading style. I’ve watched some of your morning trader bites and I can see what you’re looking at, but I’m wondering are you a scalper, trying for a point or 2 at a time? Are you going for bigger swings like 10 points? Or do you base your targets on current rotation size, which would change your targets constantly?

Hey Spidey,

Thanks for asking. Publicly, I mainly focused on structured setups using VP and order flow. I'm not looking for scalps. If you look at the ES right now (10:34 AM Eastern on 12/11/2019), you will see that it is trading at 3139.00. This is OSH, mid and the swing high of yday's afternoon. I expect the market to bounce here because it broke higher from this morning's opening swing in an open auction. It might give a point or 2 of heat, but I expect at some point it would challenge that 3143 high.

Note, however, that every trade has a random outcome. It may not work this time (FOMC release is a caveat), but this is an example of a structure-based trade that I would be stalking, taking and managing. There is always risk to finding out if a trade will work.

My risk is generally 1.5R net because I scale out to mitigate risk and aim for a runner to go to the next key area of support/resistance. So I don't have a fixed expectation. The market yields what it yields on any given setup and it is my job to be objective and read the facts rather than what I want.

I hope that isn't causing more questions than answers, but this is what I look for. I do look for scalps on some days when we are in balance and depending on the product I'm trading.

FuturesTrader71 

Hey Spidey, Thanks for asking. Publicly, I mainly focused on structured setups using VP and order flow. I'm not looking for scalps. If you look at the ES right now (10:34 AM Eastern on 12/11/2019), you will see that it is trading at 3139.00. This is OSH, mid and the swing high of yday's afternoon. I expect the market to bounce here because it broke higher from this morning's opening swing in an open auction. It might give a point or 2 of heat, but I expect at some point it would challenge that 3143 high. Note, however, that every trade has a random outcome. It may not work this time (FOMC release is a caveat), but this is an example of a structure-based trade that I would be stalking, taking and managing. There is always risk to finding out if a trade will work. My risk is generally 1.5R net because I scale out to mitigate risk and aim for a runner to go to the next key area of support/resistance. So I don't have a fixed expectation. The market yields what it yields on any given setup and it is my job to be objective and read the facts rather than what I want. I hope that isn't causing more questions than answers, but this is what I look for. I do look for scalps on some days when we are in balance and depending on the product I'm trading.

Man, thank you for the detailed explanation. That more than covers what I was curious about and I appreciate it.

It does bring up one question tho - other than ES, what other products do you trade?

spideysteve 

Man, thank you for the detailed explanation. That more than covers what I was curious about and I appreciate it. It does bring up one question tho - other than ES, what other products do you trade?

I am constantly watching CL (that's why I have that petition on the MCL here: https://www.change.org/p/cme-group-inc-cme-to-launch-micro-crude-product ...I think it provides good trading diversification when risk is in check) as well as NQ, FDXM and sometimes GC.

Is available to public some Futurestrader71's track record about his trading? Either be shares, futures or what is available.

I am curious about if a professional trader and mentor like him has at any moment published something like what I talk about.

Thx.

Blaster666 

Is available to public some Futurestrader71's track record about his trading? Either be shares, futures or what is available. I am curious about if a professional trader and mentor like him has at any moment published something like what I talk about. Thx.

Hi Blaster,

When I first started to come out in the public, I posted trades live on Twitter (hence the big twitter following). I was still running my prop shop and this was an outlet for me as I was winding down operations and looking beyond the walls of my office at the CBOT.

I have since done live trading webinar impromptus and so on and traded live for the fun of it. Soon, it became about the setup or the stop size or the amount traded and so on. Thousands of emails (many unread) later, I decided to pivot to discussing what we normally go through in prop. In prop, we don't go over and tell people when to click (which is what everyone wants). Instead, I emphasize the unsexy, but key stuff like risk sizing based on rotations, mindset, emotional awareness, a lot of technical stuff relating to statistical probabilities and volume profile, etc.

Your question comes up often. It is a valid question if I'm selling you a trading system, a managed fund or a signal. I'm not doing any of that and never will. My view is: Listen to what I'm saying. If you think it is BS, move on. If I can get you to think for yourself and use what I'm offering as a basis for developing your own plan, then I have hit my mark. The fact that I might be trading a $1.4M account or a $55k account doesn't figure into any of it. Again, I'm not telling you when to click. People who tell all of us when to click are probably not clicking themselves because not even prop shops or institutional desks do this. We wouldn't need people if we can just tell a trader (or machine) when to execute.

Bottom line: There is zero benefit and a whole lot of noise when talking about P&L or performance or account size or trade size. Many will see it as skirting the question, that's for sure. However, that's not my concern. My message is still what leads to traders becoming professional in their approach and in, hopefully, seeing results.

I hope that makes sense.

PS: I'm not a mentor nor am I an educator.

Hello, Futurestrader71
I have a question about Convergent Trading. Is it suitable for me as a sourse if I don't have a trading system and I want to develop it? I am not new to market profile and not new to trading but I am struggling to find my edge, define setups and execute it. Can I find some sort of education at Convergent Trading for those who don't have solid trading approach/system right now and want to develop it?

Howdy, @FuturesTrader71

I have a quite a few questions, I hope they won't be a drag.

1. How are the things going with the CL micros?

2. I'm interested in the evolution of your trading workspace- the "spaghetti factory" as you named it in the Futures radio show (Crudele) and the Stalkzones. From watching your TB's I've seen them changing- Stalkzkones changed from hundreds of green and red lines to grey regions we see now, as well as Spaghetti's changed (looks like you droped out TICK and did some serious design changes). Could you give us a backstory how you've evolved your workspace or some advices, like what are the common pitfalls in watching other markets.
For example, I'm trading ES but I'm also watching RTY, NQ, VIX and gold. Is it worth watching these instruments to find possible movement changes in ES?

3. Before this rally (and I guess now as well) I've had hard time with my entries. Like around 4 out of 10 last trades were stopped out and then about a point or so latter market moved to direction which was planned. I was using 3pt stop, trading maybe 2-3 trades per day. So being stopped out once a day was really pissing me off. I'm not sure what I want to ask at this point- it is irrelevant that happened in the past. But if things like this will start happening again, when I'm constantly being stopped out, should I adjust my stop? And/or is it actually possible to improve one's entries by practice?

Also, can you recomend any macro analysts to follow?