Learn to Day Trade - Get Free Mini Course

How to Eliminate Risk Management for Beginner Day Traders

How To Eliminate Risk Management For Beginner Day Traders




Full Transcript

Trading Futures for dummies: How To Eliminate Risk Management

So right now I am in a trade right here. I called this the two thirty three fifteen ninety seven trade if you are in my futures class right here. This is the two thirty three EMA line and this is the 1597 EMA line. This is showing me that everything is going up.

There is no divergence. I have my first.

Out my first risk management right here and my first target right here. Usually this is a little bit of a more aggressive trade. So I go for one quaint with this for both my first out and my sight and my first target. So now I’m just sitting and waiting to see what will happen.

OK, so I definitely want this really stresses me out, but now it looks like it’s a lot of strength at this point.

I am here. I have no worries. If it doesn’t continue on because there is now divergence. The market has been running down strongly. This is a deeper retracement, which is pretty much like a deeper correction. The market did hit here today. So that’s why I’m feeling pretty good about keeping it here for my second target. And we’ll just see what happens.

OK, so I’m seeing this types of indecision. This is a win. I am pretty much ready to at least take one take from here. Extra And I even not only did I minimize my risk, I’m actually adding one extra. Quarter of a tick here because of this point, this looks like it’s a lot of indecision.

I am still sitting here waiting. If it breaks through this edge, then I am golden. And it looks groovy now. Right. So now I have no worry at all. So what I could actually do is this is called squeezing rice. At this point, I’m giving myself an even more.

Of a chance to earn money, but at this point it looks pretty good. And here I am filled.

So this is a good way to squeeze price. Get some extra money. And at this point, it’s hit this area pretty strong. Chances are it’s not going anywhere else.

OK, so as you can see, it’s totally hanging out here. This was a very good decision to get out here. I got myself two points with two contracts, so I’m up for the day. And this was a beautiful trade. And now it’s almost lunchtime. I’m going to take a little break and then come back for later. Let me know if you have any questions.

If you want to learn more about my journey and how I started day trading you can read it here or you can watch on my YouTube channel.

If you want to start day trading with ease and confidence – Sign up for the FREE How to Day Trade Mini Course.

So if you have any questions you can always ask me at traderchick.com and if you want to learn day trading basics – check out Day Trading Courses.

How To Eliminate Risk Management