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Unrelated topic I think but: I just realized that prop firms are a f'in scam, they 'give' you a '50,000' account for example, with a max drawdown of 2,000 for example, wtf? That's a 2,000 account then!? Might as well trade your own capital then risking 250$ per trade (equivalent to risking 0.5% on a '50,000' prop account) which is 20% of the max drawdown for a 50k account. BUT then I realized that if you lost that 2,000$ on a prop account you really only lost however much you paid for that prop account which for a '50,000' account it would be AROUND 100-200$ total, depending on the firm. But still, you are paying 100$ to blow a 2,000$ prop account quicker risking 250$ per trade (assuming you risk 0.5% on a '50,000' account) then you would hypothetically blow a personal 2,000$ account risking say 3%, so if you are blowing prop accounts quicker due to the high risk relative to your max drawdown, eventually you will have spent a lot of money on prop accounts that would have exceeded 2,000$, when you could have just put that 2,000$ into a live account instead of being greedy. Counter against that: sure, you will blow prop accounts quicker due to the high risk relative to max drawdown, but it does not matter if you are blowing prop accounts at a higher compared a live accounts with lower risk because if you're profitable you would have made that 2,000$ and much more potentially, depending on your skill level and experience, making it net profitable. Anyways, that was my rant about prop firms, if you read all that, feel free to add to or correct me on any of the points.

Would you mind showing us some live recorded trades that you do? Thanks 😊

🔥🔥🔥🔥🔥Video

Idk what it was about this video but it really helped

1 hour and 15 minute For me and 2 minute for all my entries. Daily chart to see if market is bullish or bearish. 5 year experience

It’s to easy ?

How can I upgrade to the elite membership

Thank you for the video. What broker do you recommend or use for futures trading? I have used ThinkOrSwim but their commissions are high. I am currently using TradeStation - their commissions are lower than TOS, but they add on fees at end of day.

Another question is the demand and supply stuff looks like orderblocks … are these things the same? Thanks

How can I get the same range charts Mike has on his platform … does TradingView have these charts? I have the highest membership thanks for the help

Another great clip Mike!..looking forward to the next few videos!..always new tidbits Im learning here. Thank you!

When you read the charts you need to adjust (shift gears) according to market conditions

Nice trades Mike! Love the clean 24R zones. Best thing is to have a untested 24R within a HTF zone but this goes to show you can trade directly off 24R but do pay attention to the HTF structure at all times. Have a good one Mike

I typcially get faked out a lot trading off the 24R alone. Was there anything that gave you extra confidence in these setups without having higher range confluence?

I’ve been watching gold for a couple of years. I’m interested in hearing more about that in the future. Thanks for all your valuable content.

Please organize some of these educational videos into playlists. Would be great to have a series on setting up, how to trade the Mike way, etc...

Another thought… If you are able to make a 9K target on a 150K prop account, why not just do it on a personal account and keep the 9K profits rather than starting all over again in order to get to a $3500 payout. Bottom line, once you are consistently profitable, trading your live funds should be a non issue and maybe trade a few prop challenges in the background with higher risk during the challenge phase. Thoughts anyone?

Thanks for the content Mike… Question for you, being consistently profitable and wanting to move away from prop firms, would it makes sense to fund say 3 different brokerage accounts and link them to a copy trader to trade them in a similar fashion as what people are currently doing with prop accounts? Would this not spread the risk across 3 accounts and therefore go for smaller base hits daily? Not sure if this makes sense, open to hearing people’s thoughts on this.

I use the 1 hour to find my direction, and I find my setups on the 15m and the 5m. I use the 1 minute as entry once price creates new supply/demand on the 1m. I use a 7 point stop loss most of the time. I take profit at the next supply/demand or where liquidity rest. I really do like the range based charts but its not an option on Tradingview/Tradovate.

Range and tick charts feel cleaner and easier to get the entry I want as well as finding good supply and demand zones. But I don’t mind time based charts in the higher timeframe for trends and such.

Great content, do you do one on one tutoring?

5 second chart

I prefer range-based charts. The only advantage to the time-based charts is that Ninja Trader has indicators that mark the candle gaps. I used to trade a 3-bar reversal, which is easier to see if the candles are not all the same size. You introduced me to range charts about 2 years ago, and I really like them.

I start on a 30, then confirm on a 5 min then the 1 to enter/exit

Is that intro new?

W D 4H 1H 15m 10m.. I've been executing on 2m but can get faked out from time to time

I use the 1hr and 5 min to find S/D areas. 24 range for entries.

What’s the spread on this brokers and which broker has the lowest spread?

hey mike newbie dumb question lol ....what would be the 120 range and the 24 hr range? i dont understad these time frames..... lets say for example is it like the 1 minute and 15 minute tf? thanks a lot!

Perfect timing Mike!..great advice! TY

I have been studying in one form or another.Everything to do with futures trading for the last three months I have close to 600 hours of studying trading in many different ways ( videos reading paper trading and some live trading) most important thing is DO NOT GIVE UP

less trades, bigger size, tiering = $

Ive been following for a year and you were one of the first people I looked up to for help and mentorship real talks like this always help and in providing perspective . Thank u mike

A better strategy for me would be to reduce the amount of trades. Instead of five days a week just do every other day (approx 120 trades per year). Or even further reduce your exposure to risk by just trading once a week (approx 50 trades per year). 20 or 50 ticks is enough weekly profit. Reduced trades with the same directional strategy = higher consistency. More trades even with the best strategy = more risk and more losses. That’s my hypothesis. Of course you can still make simulated trades every day if you want to. But the actual trades needs to be reduced. Just my opinion I’ll test this out for myself.

Do demo / paper trading MINIMUM 3 months develop consistency .. do NOT go live until you develop consistency

Good advice Mike.

hello please i need your help so i want to start trading with 200 euros and my broker say that for trading micro futurs i need 50 dollars day margin and 500 dollars initial margin. So i can start trading with 200 or no ? Also do you recomand it and what else can i do to scalping with 200 dollar Thank you for the vidéo.

You can trade a small amount with SPY options you only need $2,500 to make $5k - $7k a month at least I do I make round $80k plus - $100k plus a year for the past 4 years now with only $2,500 to start every year

Good reminders Mike! Thank you!

Thank You

Can you explain me what the 80% net liquidity mean ?

gracias Mike!!! hoping x more videos like this one💪🏼

What’s up with the es this week? Super out of alignment with nq

Brilliant list of rules Mike. This is a great plan and for beginner traders, if u dont have a plan, you should implement these rules right away! What has made me able to survive a while before turning the ship is the risk management you mention, live to trade another day. And how you size up your trades properly according to ur account is crucial. And of course the Not-over-trade part is extremely important. I do 1-2 attempts a day on my live account then im done, no matter what. If you feel you have to push buttons after that, go into a practice account! Alright, thanks for the video Mike, some real gems in there! Have a good weekend.👍🙏

Thanks for sharing on how to succeed as a futures trader.

Very true. I made a plan this morning and killed it on 2 trades. Then I closed my laptop and called it a day. Was done by 10am

mike always keeping it real

Can you use CQG data on ninja trader or only Rithmic?