Quote - "We'd rather be profitable, than right." - Darren Fischer, Maverick Trading

"We'd rather be profitable, than right."

Darren Fischer, co-Author of Maverick Trading: Professional Techniques to Create Generational Wealth

Uploaded on Nov 28, 2011

Darren Fischer, co-author of Maverick Trading: Professional Techniques to Create Generational Wealth gives an interview with Global Talk Radio about the upcoming book.

The book outlines some of the techniques the firm Maverick Trading has used to generate over 200 points of alpha in the last four years.

Those interested in trading with the firm should visit www.mavericktrading.com/apply.php

http://youtu.be/DR6VV234cSY

1-30-14, US, Paper, ES - Multiple methods and adherence to rules, lesser no. of trades - $625.00

SUMMARY

• 4 Trades
• $42 commission fees
• 7 Lots total
• Methods
  - 1st - DayTradeToWin - ATO, & ROADMAP
  - 2nd - Utilizing runners, smaller contract sizes, and lower # of daily trades
  - 3rd - TFL365 PIVOT and signals
  - 4th - Starting to monitor and use DayTradingZones concepts- 5th - No scalping
  

GAINS / EXPENSES

Replay, 1-13-14, ES, The power of giving a runner room to run ... $1,162.50

Practice, practice .... practice ....

• This was an EXTREMELY interesting and powerful lesson about runners.
• This replay consisted of just TWO trades, 
• After trying to let runner work on first trade, I was stopped out at break even.
• The second trade was based on ATR targets and gained $87.50, leaving the second contract to run .... and DID it run!!
• This was left until end of trading day EST

The Key Principle To Growing A Small Trading Account - Timothy Sykes

This is of course one of the exceptions but the goal is to get a base target as a percentage for compounding.  

http://www.timothysykes.com/2013/06/trading-and-compounding-or-why-a-winning-short-term-trading-strategy-wins-out/

The Key Principle To Growing A Small Trading Account

This is a great guest post from a recently new student of mine and it exemplifies the way I turned $12k into $3+ million and how my top trading challenge student Tim Grittani has turned a few thousand bucks into over $630,000 now in just 2 years:

If you start with $1000 and make 1% per day while compounding it would take you 2-3 years to get above $1M. It would only take you 2 full years, but the markets are

Trading and The Power of Compounding: How to Grow Your Passive Income Exponentially

http://www.autosystemtrader.com/trading-power-of-compounding.htm


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TheTrini Network

Rounding out January 2014, Paper, Weeks 1 - 4

Hola,

Could you take a look, give your thoughts, and help me analyze these numbers as potential targets.

I'm thinking daily focus of about $300 + ... ?

Average total trade-able days in a month is between 16 and 20 days (per month) ... unless trade less with greater focus and targets..

Can also forward to your Forex or Futures friend too for their perspective.

Thanks
TT

Week 1, 1-6

 

Week 2, 1-13

 

Week 3, 1-20

 

Week 4, 1-27

 

Past 2 Weeks

Jan 2014

Monte Carlo Simulation 100 to 1000 Trade Projection

20 Habits of Wealthy Traders

http://www.traderinterviews.com/content/Webinar20Habits-Replay.php


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TheTrini Network

Think Like a Trader: 7 Principles of Consistency | EminiMind

http://eminimind.com/think-like-a-trader-7-principles-of-consistency/


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TheTrini Network

Tools - GetHuman.com - Contact Companies

Need to contact a company? Or have them call you?

Get customer service faster and easier.

Companies have more phone numbers and contact options than ever. GetHuman shows you how to get through fastest.
PHONE NUMBERS SHORTCUTS + WAIT TIME	CALL-BACKS THEY CALL YOU INSTEAD	LIVE CHAT WHEN YOU CAN'T TALK	EMAIL WHEN FASTER	8,000+ COMPANIES 45 COUNTRIES

EminiMind Videos - Tribute To Traders ....

http://eminimind.com/a-video-tribute-to-all-traders/

A Video Tribute to All Traders

AUGUST 3, 2011 2 COMMENTS

inShare

Over the year's I've come across some cool, unique, inspiring, and downright hilarious videos involving traders. I thought I'd share a handful of them with you in this post.

Enjoy!

'They' Just Don't Understand Us!

Wouldn't it be great if everyone understood what goes through a trader's mind. What it's like to be a trader. Oh, if they only knew.

You Must Make Over $75M to Make the Cut

Trader Monthly Magazine was designed for traders by traders. It's too bad they went bankrupt a few years ago. Strange isn't it?

A Look Inside Day Trading Firm SMB Capital

MOJO HD, hands down the best channel on television, although it too was taken off the air. Nevertheless two seasons of Wall Street Warriors made it through.

The Flash Crash Live From the Trading Pits

Ben Lichtenstein of Traders Audio narrates directly outside the S&P trading pit at the CBOT. This day will be remembered vividly.

A Better Way to Understand Hayek vs. Keynes Economics

Basic economic theory of Frederich Hayek and John Maynard Keynes can often be confusing. This rap anthem helps clear up the differences.

Gordon Gekko vs. Stewie Griffin

The infamous Gordon Gekko from the movie Wall Street has a go with Stewie Griffin of Family Guy. Classic.

Related Posts:

1. Creating a Trading Plan – Step by Step (Webinar Recording)
2. 5 Things You Can Do to Help Me Out
3. A Quick Update from Tim – Exciting News!
4. Macroeconomics: Why the Markets Never Do What We Expect

Documentaries - http://www.financedocumentaries.com

Here is an alphabetical listing of many finance documentaries on http://www.financedocumentaries.com/p/all-documentaries.html. They cover banking, financial markets, crises, economics, history, trading, and more. 
Happy viewing: watch, learn, and prepare.

• 1929 Stock Market Crash
• 1929: The Great Crash
• 25 Million Pounds

Maverick Trading - Prop Firm - Trading Program -

http://www.mavericktrading.com/apply.php

No cost presented, but on-line says about $5,000.

Some of their targets which might likely be used as a gauge. for your own goals and targets.

Other info found online

http://www.informedtrades.com/529559-prop-trading-firms-whats-like-trading-them.html 

Hi ItsNeverEasy,

Yes, I did work for Star Alliance Capital for about 6 months earlier this year. It was a very interesting and educational experience. First You do not get paid a salary. Almost ALL prop firms Never Pay a Salary. The only time you wil ever get a steady check like that is if you have a secondary job as a economist or manager but they will almost away hire from within unless it is an investment bank or hedge fund.

Prop firms make their money by the same way Retail trade brokers do, by commissions. What they do is provide you Leveraged Capital. Example: If you want to trade forex you can go to a retail place like FOREX.com and they will give you $100,000 to make trades with for every $10K you deposit. Well Prop Firms are much the same. With Star Alliance you put in 5K into your account and they give you 30K or so of leverage. The big Difference is the regulations. When you apply to a Prop you are Applying for a Trading Job, you have to fill out SEC forms, Get your finger prints taken and fill out other types of Tax and regulatory documents like a W-9.

Once you are excepted, you give them a deposit that is yours in the amount of at least $5,000 then they will START you out with a pre-defined leval of risk captial. There computer systems also have built in risk controls. Starting out you can not loose more then $300 a day or 2% of your capital. If that happens then they cut you off ( this amount is also negotiable) and you can not trade anymore that day. You have to start anew the next day. With all prop firms you can trade from the their office or you can trade remote ( from home ) that is what I did.

Prop firms are a good way to get around the Pattern Day trade rule if you have less then the $20,000 required by the SEC. But you really need to know how to trade Technically first. When I started with them I was a good speculator but have very little Technical trading skills and knew nothing about how real DAY trading is done ( all technical). When I tried to apply my speculative methods to their system ( Gaps, Earnings, News, Macro sector Hype, ect.) it did not work( risk controls were to tight for me) so I said ok, I can do this...and I started to trade leveraged ETF

Anyway to make a long story short I ended up loosing my deposit in about 4 months or so but gained a very very good understanding about how to DAY trade, technical analysis, Prop Firms, Leverage, Leveraged ETF, Market velocity, Leval 2 and the basics of different trading systems and styles. So instead of putting more money into my account with them I started trading SLOWER markets from my own retail account. I started trading FOREX agian. I did well making about $1,500 in about 2 months or so. I gained more confidence and started learning about S&P eMini futures. I then started trading them and FOREX from my own account. After having some problems with TD ameritrade I took most of my money out and put it into a Futures broker with whom I day trade emini's now from my own account. About 2 months back I called Star Alliance and asked them to close my account. SEC rules require them to hold your capital for 1 year so when you are with a firm you need to stay with them, but you don't have to.

I would say that Prop trading is good if you want to trade stocks and you are a good profitable technical day trader. It is good place to learn and get on a fast professional trading platform. Some Props do trade in FOREX or Options (Maverick Trading but they charge none refundable 5K for their training program). Prop trading is a business were the firm makes their money off of trading volumes and monthly software usage fees, this is ok as trading commissions or much lower then retail but if you want to learn to trade then make sure you look for a pro with a good educational program and those can be hard to find. If you were new and could work from their New York office, their would be other traders to teach you and who you could talk with, that is a big plus. I traded remote and learned on my own, which is hard, but learning to trade is hard no matter what you do. I am happy trading my own account and am now profitable, for me sitting and waiting and being disciplined to stick to my patter without hesitation is the hardest part of this business.( It all comes down to simple probabilities) I am a intraday swing trader but with that you are only going to get a few swings a day, some days none that are good probability and some day you get lots. You neve know what the next day will bring, but if you have the Math on your side and you stick to it you will be destined to succeed

Prop Firm - Tower Hill Trading Trading Programs

http://www.towerhilltrading.com/

http://www.towerhilltrading.com/faq/

Best Proprietary Trader Training Program in the Industry ?

Train at our offices in downtown Chicago… or train remotely from your desktop anywhere around the globe! The best way to learn is by doing: Tower Hill proprietary trading firm gives you real experience to learn and develop your own style and strategy and get you trading fast.

• We choose the best candidates, and we’ve trained some of the best traders in the industry
• Trading seminars, ongoing coaching, a virtual trading floor and an active trading community
• Experienced THT coaches teach you right on the Chicago trading floor or remotely

We Take The Risk

Learning to trade is hard enough without having to fund your account or pay training tuition. Our proprietary trading firm provides all the training and 100% of the money you need to trade. You focus on what is most important: your trading.

• Opportunity to learn and work with the best
• Work hard and you control your success
• THT doesn’t profile: athletes, gamers, English or finance majors: successful traders come with all backgrounds

Prop Firms - Proprietary Trading Firms

1. Proprietary Trading Firms - Prop Trading Firms - Traders Log

   www.traderslog.com/proprietarytradingfirms/‎

   Listings of Proprietary Trading Firms. ... needed to be successful as well as the technology, low fees, and capital to keep professionals at the top of their game.

2. LIST: 200 Proprietary Trading Firms | Leverage Academy Forum

   leverageacademy.com/blog/proprietary-trading-shops/‎

   Top 200 Trading Firms in U.S.. ... For those interested in prop trading, here are thebest: Advantage Futures – Advantage is a clearing member of the Chicago  ...

1-22-14 UK, Unemployment UK report, currently -274.00 pounds. BattenThe Hatches !

Good gains on another demo account as of past couple days. 

Learning to use the pivot levels for long-term trading. Targets set yesterday with a focused risk buffer. 

So, I wake up this morning 10 minutes after an announcement of UK news. 

LESSON : KEEP UP WITH THE NEWS EVENTS

 

Even in comparatively short teem trades, STILL NEED to check calendar for upcoming reports. This was the report I woke up to from CNBC after not waking up for UK session. 

This was the effect. 

Trade is now at the tip end of that spike. 

- 189.00 pounds (ouch!)

Previous gains now  completely threatened. 

Will likely retry if hit towards original target or start additional scalping, and hedge position as is. 

"Inclement weather ahead .... " hehe

Time to go to work and "batten down the hatches!"

Gotta get a handle on news reports ....

5:45AM .. Risk buffer hit 

-274.00 expense.

Time to start rebuilding .....

LESSON LEARNED

Webinar - Fast-Track to Effective Trading - Tangible Trading Ideas for 2014

Webinar : Fast-Track to Effective Trading - Tangible Trading Ideas for 2014  January 21st 3:30 p.m. Central Time (4:30 p.m. ET) Andy Carlsen, Sniper Scalping, Inc. https://sniperscalping.com

Inspiration - Will Smith Quotes

Just a little something to keep you going and focused ... on your Trading Journey goals ....

 http://youtu.be/T7zJhpzeUYM 

 http://youtu.be/7DU7PZlFVqk

1-21-15, US, Paper, $675.00 - Pre-Market trades, Scalping, Stacking, ATO methods - Recent best day ...

Tools - Automatically insert a timestamp every time when logging

 

Automatically insert a timestamp every time a file is opened: A simple way to record what you are doing at certain times is with a .LOG file in Notepad. Using this method, each time you open and close Notepad, a timestamp is created to time your activities more efficiently. Simply open the document, record what you did, save the file, and then close it. 1. Open Notepad. 2. On the first line of the file, type this: .LOG 3. Hit ENTER to insert one carriage return. 4. Save the file.

By doing this, every time you open the file in Notepad, a timestamp will be inserted. Insert Current Timestamp If you are in any text document in Notepad and decide you need to add the current timestamp, just hit F5. The timestamp will automatically be created. -

 

See more at: http://www.tech-recipes.com/rx/909/windows-notepad-insert-time-and-date-into-text-or-log-file/#sthash.69W8GnDK.dpuf

 

 

 

Moving Targets in The Crosshairs

PAST HOUR'S MOVERS

FX ECONOMIC NEWS CALENDAR

Tools & Toys - Chromecast -

 With Chromecast, you can easily enjoy your favorite online entertainment on your HDTV—movies, TV shows, music, and more from Netflix, YouTube, Hulu Plus, Google Play Movies and Music, and Chrome. No more huddling around small screens and tiny speakers. Chromecast automatically updates to work with a growing number of apps.

https://www.google.com/intl/en/chrome/devices/chromecast/?utm_source=en-ha-na-gdn&utm_medium=ha&utm_content=banner-flash&utm_campaign=en

1-20-14, UK, Paper, 6B, 6S - Slow session, signals and scalping - GBP 22.20, Future Currencies $162.50

Not bad, for trading from 12:30 - 2:00 am and documenting through to 2:30am ....

coupled with multiple markets.

GBP-USD (FX)

Entered on divergence signal, long .3 based on 4hr chart, and signal

took .25 profit, left .5 to run

Gain : 14 pips, 22.20 GBP

slow session ... scalping FUTURES ...

6S

scalp signal from rbReversal short on 1m

ATR very slow but aiming for 3TT

Time stop ; 

Gain - 2TT, $25.00

Finviz.com Stock research

1-17-14 Replay of 1-3-14, UK, 6B, 6E, 6S, 3 Trades - 100% win, $506.25 - Best Focused Trade ....

• Based on DTTW and TFL stacking. 
• ATO combined with stacking.
• Future Currencies
• 4 lots x 4 Tick targets ....
• 10 days .. possible 5K

1-19-14 Replay of 12-17-14 US, UK, $281.25 Testing stacking techniques combined with DTTW

I also have other trades to send for past days as well. Soon to follow.

• • UK session  was very good - + $325.00 in 4 trades
• • Trying stacking techniques
• • US session first trade deadly -$375
• • X5 trade failed. Signal of pending change was after initial tag, the entry bar closed above the level but was a SHORT CANDLE
  
• • Reverted to 2^nd attempt at Atlas line
• • Continued with stacking ...

Strategize Your Trading with Focus and Consistency. Remember, When in doubt ... TAKE PROFIT !

Remember, When in doubt ... TAKE PROFIT !

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TheTrini Network

Trading archives - BLOG ARCHIVE 2014 (23) January (23) 2013 (73) December (39) November (34)

JP,

Please take a look when you have time ..... and I'd appreciate your feedback or thoughts and insights ;)

Blog Archive

• 2014 (26)
  • January (26)

• 2013 (73)
  • December (39)
  • November (34)

1.13 -to 1-16-14 - Revenge trading, Overtrading. Week summary.

18 more trades to get a better gauge of an average.

To be repeated next week.

Will be doing more trend trading combined with DTYTW and TFL strategies.

1-16-14, UK / US, Paper, $211.50 - Two sessions - Combined ATO and Missed Pivots Reversal tabs

• 1.16.14
  
• Tab reversal signals
  
• missed pivots
  
• Avg 6 trades per session
  
• $211.50
  

• From Monday to today (Thurs).
  
• If continue at this rate , Mote Carlo projections
  
• Still need to work on overtrading and revenge trading
• Was trading relatively conservative yesterday compared to beginning of week.

1-16-14, UK, Paper - Missed pivots long term trend trading. £79.37

It's all coming together ...

Still a lot to master, but on track (I think) ;)

This method is really amazing ! Even at just .03M / pip, this was able to get to close to 100 pounds with just letting the market run. 

no in and out scalping.

Some stats which are laying the direction ...

1-15-14, Paper, The end of an overtrading day - YM, ES, NQ - $410.00

First trade was due to yesterday's revenge trading when saw an opportunity in the morning. Ironically, that got wiped out and it wasa fight to recover.

Tried a new system I am learning and the results were beautiful. Less-stress-trading with gains, both on FX and Futures. Missed pivots look like a winner !

Last trade of the day did it ... was a lot of work, and over-traded. 

Using TFL365 ..

3 contract, leaving 1 as a runner to 24 ticks

Other demo trades

http://charts.mql5.com/3/592/eurusd-h4-alpari-uk-ltd-tfl-missed-pivots-euro-and-jpy-pairs.png

http://www.mql5.com/en/charts/1305970/eurusd-h4-alpari-uk-ltd-tfl-missed-pivots-euro-and-jpy-pairs

Revenge trading - ..... Examples of what NOT to do .... coming soon ...

Trade station update

Looks and feels better when leveled and more symmetrical in its setup ;)

1-13-14, Paper, ES, YM, NQ - Perfect Storm using 3 different Systems = $277.50

• ATO
• Atlas Line
• Knoxville Convergence
• rbReversals
• X5

Although missed the UK session again completely. the US session proved worthy. This was also a first test of functioning with the trading station, monitoring multiple accounts. Due to licensing limitations, I am remoting to one of my other computer sin another room and doing a balancing act of setting up different brokers on multiple monitors.
Trading was completed at 12 noon, with bad trades at the end, but the final gain was good. Results below :

• 10 trades
• 7 wins ; 3 losses
• $277.50 GAIN

1-13-14, Paper, Summary - Futures, $277.50 ; FX - $127.00 - Daily tally $404.00

http://tradingwiththetrini.blogspot.com/

Demo run on the new trading station setup ....
Old setup changed (when I loaned out one of my TV/monitors), from ... 

 

to ..

---

 I still kinda like the original setup ... but made demo money on the new too, so we'll see ... ;)

• Trading 1 - 2 contracts, ES
  
• 1-3  if on YM, NQ,
• 
  

FX

FUTURES