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Money Management and Risk Control
Technically, you could make money with any approach to the market if you had good money management. Limit your risk to 1 point on every trade and take profits at 2 points with a system that is correct only 50% of the time and you will make money. You can even show that with a winning percentage below 50% as long as your expectancy ratio of wins to losses is large enough.
Our Futures Trading Secrets Course is jam packed with 152 pages, 69 chart examples and four audio video live demos that will show you:
How to trade futures contracts with lower risk strategies.
How to spot and trade 3 highly profitable chart patterns.
How to spot trading opportunities within minutes on any chart and in any time frame.
How to develop a positive trading expectancy ratio so the probabilities of success are on your side.
How to develop money management strategies to minimize trading losses.
How to manage your trades for maximum profits once positioned.
How to take 15 points out of a 5 point move.
How to exit each trade with the maximum profit without giving too much back.
Our signals are as simple as 1-2-3-GO!
How to use money management to improve your trading
Trader's First Practice Day 23 Wins 0 Losses
Well Bill, This is really something!
Your course came yesterday. I stayed up most of the night reading the pdf manuel and then going over as much of the cd material as possible.
I have been using esignal advanced get edtion software and esignal data for several years and so I was very impatient to get Ensign Windows up and running.
I placed 23 simtrades today using 1 contract. I was using the combo template with the 1xx and 5xx charts. I had 23 winning trades and no losers for a simulated profit of $1,012.00 on the day. I have no doubt some of these trades were just luck because I am still very fuzzy on some of the signals.
Needless to say this is going to be a jam-packed weekend of study to try and figure out exactly what is going on.
This is a lot of fun! Thanks Bill
PS Wow Bill,
Did you trade that great divergence pattern on the 1xx chart just now?
It completed around 15:37 and produces a great profit for anyone who happened to have been paying attention. Unfortunately I was too busy patting myself on the back for all the great winners today to notice this until after the fact.
Man-o-man!
Do you get results like these?
Use the SimBroker in Ensign on a Demo File until you can trade consistently with results of 70% or better. The Demo feature is available any time, whether the market is open or not. This is the principal reason we recommend Ensign as the charting software of choice.
Next, switch to real time SimBroker Trading on the eMini. Ensign Software allows you to download and trade any previous day of the eMini S&P AND increase the speed to 2 to 10 times normal. You can then trade the entire day in less than an hour. This technique will help you automate your trade execution. It will be very similar to playing a video game.
Practice live on the daily eMini market using the SimBroker until you get this level of confidence in your method. The SimBroker in Ensign will work on the live market. It will not allow you to cheat, in that it deducts commissions and 1/4 point slippage with every trade.
Then after a few weeks of consistent daily results you will be ready to risk your capital, and not before! See what our students say.
Always remember the 5 P's of trading
Perfect Practice, Prevents Poor Performance Check our futures trading results here.
Here is a why Money Management is Important
Notice the 21% winning percentage but still profitable.
Testimonials such as these were made at the time and the individual making them may no longer be trading nor experiencing the same success level at a later time. Testimonials are believed to be true based on the representations of the persons providing the testimonials, but facts stated in the testimonials have not been independently audited or verified. Nor has there been any attempt to compare the experiences's of the persons giving the testimonials after the testimonials were given. The average reader should not necessarily expect the same or similar results because testimonials are not indictative of future performance or results.
DAY TRADING involves high risks and
YOU CAN LOSE a lot of money.
Commission rule 4.41(c)(1) applies to "any publication, distribution or broadcast of any report, letter, circular, memorandum, publication, writing, advertisement or other literature…."commission rule 4.41(b) prohibits any person from presenting the performance of any simulated or hypothetical futures account or futures interest of a CTA, unless the presentation is accompanied by a disclosure statement. The statement describes the limitations of simulated or hypothetical futures trading as a guide to the performance that a CTA is likely to achieve in actual trading. Commission rule 4.41(b)(1)(i) hypothetical or simulated performance results have certain inherent limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown.
