Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

TSLexi

Plan to Start Trading E-Mini Futures for a Living

Recommended Posts

Hi guys!

 

I plan on beginning trading ES futures for a living in a few months.

 

I have $20,000, and my partner has a steady income that covers both of our living expenses.

 

My plan is to take part in Cody Hind's Samurai Trading Academy training program, and here are some risk management rules I've developed for myself:

 

1. Only risk 1% of my account on a single trade Currently that would be $200. Therefore, I will be trading four contracts with stop-loss orders set 4 ticks opposite my entry point.

 

2. My plan is to make at least 10-15 points per week, so I will be having my protective stops be part of OCO orders where the other order is a LIT order 2 points in the profitable direction from my entry point.

 

4. Every day I will withdraw half of any profits into my bank account to lock in that day's profits.

 

5. I will endeavor to get professional trader status with the IRS for the tax advantages.

 

6. I will keep a trading journal.

 

So, any other advice for me?

 

Thanks!

Share this post


Link to post
Share on other sites

1. While your enthusiasm is admirable, the idea that you will be able to make a living trading in a few months is wildly optimistic.

 

2. Do not spend a dime of courses, programs, workshops, unvetted gurus, software, or anything else of the like.

 

3. Avoid the ES. Look instead at either the NQ or the TF.

 

4. Thoroughly test this plan and any other via replay before even thinking about putting real money to work. The market doesn't care about what you plan to make. It will provide you with whatever opportunities it sees fit. Whether or not you are available to take them is an entirely different matter.

 

5. Do not begin trading by trading out of fear. If you have any concerns about losing money or being wrong, you are not ready. Stops will not save you if you don't understand (a) what you're looking at and (b) what to do with it.

Edited by DbPhoenix

Share this post


Link to post
Share on other sites

I have a risk management system:

 

1. Only risk 1% of my account ($200 combined on four contracts) on a single trade.

 

2. After entering a long position (reverse this for short positions), place an OCO order consisting of:

1. A sell stop order placed one point below the entry price, and

2. A sell limit if-touched order placed two points above the entry price.

 

3. Only enter a long position if the Heikin-Ashi chart, confirmed by the MFI, shows an uptrend, and vice versa for a short position.

 

Risk management is the name of the game.

Share this post


Link to post
Share on other sites

DbP offered up some sound advice... not sure you're listening though. That's alright, the market in real time is the best teacher.

 

1. Learn to cook and clean house. Your partner will feel better about your losing money during that first year if the household chores are done when they get home from a long day. You'll feel a little better about it too.

 

2. Don't talk "shop" with your partner... it's boring.

 

3. Exorcise any demons that you have floating in your head at the end of the trading day (reference #2).

 

4. Stay away from the booze. It may seem like it helps with #3, but it will catch up to you eventually.

Share this post


Link to post
Share on other sites

If you have no trading experience, you are being extremely naive thinking that you can learn how to trade e-mini futures with a position size of 4 contracts. You might think a $200 stop loss is simply 1% of your account, but as a beginner (and in your case, someone without any real trading plan) you are likely to string together many losses in a row and destroy yourself from the beginning.

 

From what I've seen and experienced, a 4 tick stop in the ES is pretty damn tight, and you would have to really know what you're doing, and entering on highly precise stop orders in order to stand any chance of not being stopped out quickly during a trade. The math rarely works out in your favor with tight stops. You will be playing more of a scalper's game, and with such tight stops you are going to be stopped out a lot. Combine that with the fact that you, as a beginner, will not be taking high probability trades, you are going to lose over the long run.

 

In short, you will be in danger of blowing your account. You should take it slow, and start off with 1 (or AT MAXIMUM 2) contracts until you are consistently profitable. Develop your plan and your psychology. Only then should you even consider increasing your position size to 4 contracts (and beyond). You should also probably try starting off with the SPY, because that will allow you to trade very small (100 shares, for example). If you trade 500 shares of the SPY, that's like trading 1 contract of the ES (10 cents in the SPY being equivalent to 1 point in this scenario). The SPY trades exactly like the ES, but with tighter spreads and the ability to manage your exposure to even less than a 1 contract size.

Share this post


Link to post
Share on other sites
If you have no trading experience, you are being extremely naive thinking that you can learn how to trade e-mini futures with a position size of 4 contracts. You might think a $200 stop loss is simply 1% of your account, but as a beginner (and in your case, someone without any real trading plan) you are likely to string together many losses in a row and destroy yourself from the beginning.

 

From what I've seen and experienced, a 4 tick stop in the ES is pretty damn tight, and you would have to really know what you're doing, and entering on highly precise stop orders in order to stand any chance of not being stopped out quickly during a trade. The math rarely works out in your favor with tight stops. You will be playing more of a scalper's game, and with such tight stops you are going to be stopped out a lot. Combine that with the fact that you, as a beginner, will not be taking high probability trades, you are going to lose over the long run.

 

In short, you will be in danger of blowing your account. You should take it slow, and start off with 1 (or AT MAXIMUM 2) contracts until you are consistently profitable. Develop your plan and your psychology. Only then should you even consider increasing your position size to 4 contracts (and beyond). You should also probably try starting off with the SPY, because that will allow you to trade very small (100 shares, for example). If you trade 500 shares of the SPY, that's like trading 1 contract of the ES (10 cents in the SPY being equivalent to 1 point in this scenario). The SPY trades exactly like the ES, but with tighter spreads and the ability to manage your exposure to even less than a 1 contract size.

 

 

I have since decided to trade one contract of the NQ with my trailing stop-limit set at $200 from my entry price.

Share this post


Link to post
Share on other sites

E-mini S&P. E-Mini S&P, often abbreviated to "E-mini" (despite the existence of many other E-minicontracts) and designated by the commodity ticker symbol ES, is a stock market index futures contract traded on the Chicago Mercantile Exchange's Globex electronic trading platform.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date: 11th July 2025.   Demand For Gold Rises As Trump Announces Tariffs!   Gold prices rose significantly throughout the week as investors took advantage of the 2.50% lower entry level. Investors also return to the safe-haven asset as the US trade policy continues to escalate. As a result, investors are taking a more dovish tone. The ‘risk-off’ appetite is also something which can be seen within the stock market. The NASDAQ on Thursday took a 0.90% dive within only 30 minutes.   Trade Tensions Escalate President Trump has been teasing with new tariffs throughout the week. However, the tariffs were confirmed on Thursday. A 35% tariff on Canadian imports starting August 1st, along with 50% tariffs on copper and goods from Brazil. Some experts are advising that Brazil has been specifically targeted due to its association with the BRICS.   However, the President has not directly associated the tariffs with BRICS yet. According to President Trump, Brazil is targeting US technology companies and carrying out a ‘witch hunt’against former Brazilian President Jair Bolsonaro, a close ally who is currently facing prosecution for allegedly attempting to overturn the 2022 Brazilian election.   Although Brazil is one of the largest and fastest-growing economies in the Americas, it is not the main concern for investors. Investors are more concerned about Tariffs on Canada. The White House said it will impose a 35% tariff on Canadian imports, effective August 1st, raised from the earlier 25% rate. This covers most goods, with exceptions under USMCA and exemptions for Canadian companies producing within the US.   It is also vital for investors to note that Canada is among the US;’s top 3 trading partners. The increase was justified by Trump citing issues like the trade deficit, Canada’s handling of fentanyl trafficking, and perceived unfair trade practices.   The President is also threatening new measures against the EU. These moves caused US and European stock futures to fall nearly 1%, while the Dollar rose and commodity prices saw small gains. However, the main benefactor was Silver and Gold, which are the two best-performing metals of the day.   How Will The Fed Impact Gold? The FOMC indicated that the number of members warming up to the idea of interest rate cuts is increasing. If the Fed takes a dovish tone, the price of Gold may further rise. In the meantime, the President pushing for a 3% rate cut sparked talk of a more dovish Fed nominee next year and raised worries about future inflation.   Meanwhile, jobless claims dropped for the fourth straight week, coming in better than expected and supporting the view that the labour market remains strong after last week’s solid payroll report. Markets still expect two rate cuts this year, but rate futures show most investors see no change at the next Fed meeting. Gold is expected to finish the week mostly flat.       Gold 15-Minute Chart     If the price of Gold increases above $3,337.50, buy signals are likely to materialise again. However, the price is currently retracing, meaning traders are likely to wait for regained momentum before entering further buy trades. According to HSBC, they expect an average price of $3,215 in 2025 (up from $3,015) and $3,125 in 2026, with projections showing a volatile range between $3,100 and $3,600   Key Takeaway Points: Gold Rises on Safe-Haven Demand. Gold gained as investors reacted to rising trade tensions and market volatility. Canada Tariffs Spark Concern. A 35% tariff on Canadian imports drew attention due to Canada’s key trade role. Fed Dovish Shift Supports Gold. Growing expectations of rate cuts and Trump’s push for a 3% cut boosted the gold outlook. Gold Eyes Breakout Above $3,337.5. Price is consolidating; a move above $3,337.50 could trigger new buy signals. Always trade with strict risk management. Your capital is the single most important aspect of your trading business.   Please note that times displayed based on local time zone and are from time of writing this report.   Click HERE to access the full HFM Economic calendar.   Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding of how markets work. Click HERE to register for FREE!   Click HERE to READ more Market news.   Michalis Efthymiou HFMarkets   Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in Leveraged Products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Back in the early 2000s, Netflix mailed DVDs to subscribers.   It wasn’t sexy—but it was smart. No late fees. No driving to Blockbuster.   People subscribed because they were lazy. Investors bought the stock because they realized everyone else is lazy too.   Those who saw the future in that red envelope? They could’ve caught a 10,000%+ move.   Another story…   Back in the mid-2000s, Amazon launched Prime.   It wasn’t flashy—but it was fast.   Free two-day shipping. No minimums. No hassle.   People subscribed because they were impatient. Investors bought the stock because they realized everyone hates waiting.   Those who saw the future in that speedy little yellow button? They could’ve caught another 10,000%+ move.   Finally…   Back in 2011, Bitcoin was trading under $10.   It wasn’t regulated—but it worked.   No bank. No middleman. Just wallet to wallet.   People used it to send money. Investors bought it because they saw the potential.   Those who saw something glimmering in that strange orange coin? They could’ve caught a 100,000%+ move.   The people who made those calls weren’t fortune tellers. They just noticed something simple before others did.   A better way. A quiet shift. A small edge. An asymmetric bet.   The red envelope fixed late fees. The yellow button fixed waiting. The orange coin gave billions a choice.   Of course, these types of gains are rare. And they happen only once in a blue moon. That’s exactly why it’s important to notice when the conditions start to look familiar.   Not after the move. Not once it's on CNBC. But in the quiet build-up— before the surface breaks.   Enter the Blue Button Please read more here: https://altucherconfidential.com/posts/netflix-amazon-bitcoin-blue  Profits from free accurate cryptos signals: https://www.predictmag.com/ 
    • What These Attacks Look Like There are several ways you could get hacked. And the threats compound by the day.   Here’s a quick rundown:   Phishing: Fake emails from your “bank.” Click the link, give your password—game over.   Ransomware: Malware that locks your files and demands crypto. Pay up, or it’s gone.   DDoS: Overwhelm a website with traffic until it crashes. Like 10,000 bots blocking the door. Often used by nations.   Man-in-the-Middle: Hackers intercept your messages on public WiFi and read or change them.   Social Engineering: Hackers pose as IT or drop infected USB drives labeled “Payroll.”   You don’t need to be “important” to be a target.   You just need to be online.   What You Can Do (Without Buying a Bunker) You don’t have to be tech-savvy.   You just need to stop being low-hanging fruit.   Here’s how:   Use a YubiKey (physical passkey device) or Authenticator app – Ditch text message 2FA. SIM swaps are real. Hackers often have people on the inside at telecom companies.   Use a password manager (with Yubikey) – One unique password per account. Stop using your dog’s name.   Update your devices – Those annoying updates patch real security holes. Use them.   Back up your files – If ransomware hits, you don’t want your important documents held hostage.   Avoid public WiFi for sensitive stuff – Or use a VPN.   Think before you click – Emails that feel “urgent” are often fake. Go to the websites manually for confirmation.   Consider Starlink in case the internet goes down – I think it’s time for me to make the leap. Don’t Panic. Prepare. (Then Invest.)   I spent an hour in that basement bar reading about cyberattacks—and watching real-world systems fall apart like dominos.   The internet going down used to be an inconvenience. Now, it’s a warning.   Cyberwar isn’t coming. It’s here.   And the next time your internet goes out, it might not just be your router.   Don’t panic. Prepare.   And maybe keep a backup plan in your back pocket. Like a local basement bar with good bourbon—and working WiFi.   As usual, we’re on the lookout for more opportunities in cybersecurity. Stay tuned.   Author: Chris Campbell (AltucherConfidential) Profits from free accurate cryptos signals: https://www.predictmag.com/   
    • DUMBSHELL:  re the automation of corruption ---  200,000 "Science Papers" in academic journal database PubMed may have been AI-generated with errors, hallucinations and false sourcing 
    • Does any crypto exchanges get banned in your country? How's about other as Bybit, Kraken, MEXC, OKX?
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.