A reader writes:
I am focusing on trading futures right now and I need to remove all distractions in my life in order to master this task. I respect you highly and hope to come back and follow you again someday but for now I am removing everything in my life that isn’t essential to my main focus. Once that is accomplished, I will be back.
What strategy are you using to trade futures?
Intraday trading during the evenings due to my day job. I plan to start with a very small amount of cash (and by small I mean tiny, as in $250) and trade the micro NQ (possibly the ES if I can’t find consistent success since the NQ is very wicky). My setup is simple, Bollinger Bands on the 1 and 5 minute as well as a 5 day 30 minute chart for a long game view that I can zoom in and out of to maintain perspective of the long game.
I plan to trade the bounces off the top or bottom bands when I see a solid setup and manage the trade extremely tight (2 points max) in order to stay in the game since that 2 point stop can go to 4 plus in the blink of an eye.
If I happen to have the opportunity to get in during the day and it’s a trend day, then I want to hit those opportunity days with larger sized moves in order to capture a portion of those beautiful moves up or down.
By all means, if you see any flaws or have any questions or concerns, please let me know as I am always open to the insight of those that are more experienced than myself.
Stop all of that. It’s a dead end. Nothing to salvage. And it ends in one way only…