WOLF TUESDAY MORNING SPACES

Recorded: Feb. 13, 2024 Duration: 2:45:22

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Morning guys, what's going on? Ain't quite the quit the move we're having here
One morning. Yeah, I know messing around little CPI data can't predict it. I like to say and
Small caps really taking that taking it on the chin, too
It's definitely checking that out
IWM and I was hoping it would hold up above 200, but it is
Currently at 196. So we'll see see how that rolls
Yeah, tough seeing JJ you you trading through this
Yeah, I had a I had a nice little
Counter inventory trade before the CPI came out
Hey guys, how's everybody just doing this morning? It's a really nice inventory adjustment this morning
You know, we took out three or four days of sort of weak-handed longs, you know clipped out those
those little swing lows and
I'm watching forty nine seventy five and a half. We look below it. Let's see if we open above it
We got a nice gap, which means we finally got some supply so it'll give us some better price action
Little liquidation is always good for the soul, you know, it greases the wheels below us and we're right back at the cost basis
At the beginning of February here, you know before the move up
So, you know, it's a it's a good liquidation liquidations look really bad because the ranges are really large in this market
So I'll be I'll be watching that forty nine seventy five and a half and it's good. It's good
You know markets are meant to sell stuff, you know, how would you like to go to the store and how much is that?
Well, it's not for sale. That's what we've had lately. So it's good
Good get in there and sell some product and grease the wheels a little bit. Give us some better price action
Yeah, we'll see if we can get any
Bitcoin crypto pullback a little bit today from the 50k level was holding last night. It's not that far back forty nine
245 but the rest of the market absolutely getting not slaughtered but big pullback
ARKK down 5% Tesla down two point eight six percent Apple down a percent
SE down three point seven five percent square down four percent
Etsy down five and a half. I mean, it's kind of like a it's like a
Big old earnings reaction across the board Celsius down four percent Baba down two percent PayPal down three point three Google down two point three
Everything pulling back here. I think to be honest, I mean Nate tell me if I'm wrong
But I think this was just do we see a number that starts with a two or do we see a number that starts with?
The three three stocks go down two stocks go up. That's what I felt like to me
Yeah, and I'm with you and
It I mean, I wasn't overly surprised just because unpredictable
the know, you know these numbers can be but
Yeah, it looks like we're gonna be getting some pullback. I agree could be healthy here, right?
But yeah, then it's interesting because we had good jobs data good wages, you know, strong wages all this good things. So having inflation
not necessarily necessarily continuing to cool off is
Shouldn't be overly surprising I guess if that makes sense because the economy has been resilient showing some resiliency
so people are spending consumers are spending so
Yeah, oh, you know the the point now for me is that you know technician paying attention to charts is to look for these key support
levels see what's holding up and
You know what sells off hard and what's you know, maybe had some fake
support in there previously, so
Yeah, some opportunities would be presented here
I think in another question mark is gonna be like how long if we do get it things to roll over here
Is this gonna be a quick blip and then the market digests it and we just move forward or is it?
Gonna leave this in prolonged, you know selling after the recent run with that. Oh
I'd love to see some more liquidation. Yep
It's a it's healthy the price actions has been getting horrible, right?
It's like watching paint dry, especially that London Open, which we like to trade. It's you know, 730 in the morning UK time
It's usually been good for some trades
But the last couple of weeks have just been it's like is this thing on? Okay, you can go back to sleep
So liquidations always good, you know coming from someone who was Larry the liquidator. It always gives better price action
Sounds good reef insights. What's going on? You got some thoughts here CPI the market this morning
Yeah, I think you hit it right on the nose
I mean, I think if the numbers would have came in starting with the two would have been a different outcome
But I mean what you were you seeing with housing
Which is a huge component of the CPI print
No housing costs just so high. I think this kind of this kind of touches on what Jerome was saying that uh
The meeting in January where they're just looking for more data to build more confidence
So I think this kind of puts March off the table. Maybe man
Sounds good
Yeah, we're a little like the the time zones still fucking with me we'll see you on forward but
Yeah, interesting day
I'm looking at the Fed watch tool and the market is now no longer pricing in a May rate cut
We are now out to June is the first rate coming. So I think that yeah, I recut coming
So I think that's why you might be seeing an IWM
Down a little bit more than some of the other ones. I would say we're all looking at the same data
With CPI but see you know the IWM the small caps are a little bit more interest rate sensitive due to being a lot of banks
And and all that stuff. So I think that's kind of the light that we're seeing on
I think that what's really happening here is the market is repricing in when the Fed will be cutting rates
But there was also a couple earnings this morning me to Shopify and a Coca-Cola
Last I checked the Coca-Cola numbers were actually pretty decent. Yeah, Coca-Cola is still up on a day. I'll be a 0.8%
Shopify's numbers were not as great
Both of them kind of had decent numbers for the quarter was the forward guidance for example Shopify
So they expect revenue to grow in the low 20th percentage rate next quarter
and Wall Street wanted
Not a massive miss but still enough to send the stock lower on that one
We did also have Nvidia kind of releasing an in-house chatbot that
They're kind of coming out of beta and I haven't been able to dig around the two too much else
We had Datadog earnings as well, which I didn't really look too too deep into but but yeah a couple stuff stuff happening
I think that that rate cut
Being priced out to to June for May is a little bit interesting causing IWM which is interest rate sensitive
Due to a lot of banks in that index kind of underperforming some of the other markets today
And we'll see how that develops but the FED watch tool changing when these markets are pressing in it was originally March
And we're slowly moving back
Sounds good
You're still going a little bit lower here
miners down big this morning
Yeah, I close out that my position yesterday
Did you check out zoom info? I think they reported yesterday, but ZI is the ticker and
you know real strong earnings and
Power and higher, but it's you know giving some of it back. It was up as much as like 23 25 percent
Now it's up 13 percent, but I don't know if this one's been on the radar
And I'm checking and see if there's any options flow or what that looks like as well
Yeah, we talked about it yesterday. I think this was more of a story of the numbers were fine
Nothing too crazy, but the stock was priced extremely low
Stock talk was talking about a note
I don't know if it was Jeffries or someone like that talking about how they kind of think it has dropped for this this cycle and
That even just you know in line numbers could be enough to force this stock higher
So I'm not fully surprised based on that kind of context to see it pull back a little bit still up
14 percent and obviously
Markets pulling back a little bit here, but but yeah, I don't think this was the story of Hades numbers were unreal
We need to take it higher. I think it was more of the stock is priced
Pretty cheaply and the numbers were solid enough and they did
They did what they needed to to be and that doesn't necessarily scream 25% for me
I don't know if it necessarily screams 15% for me either, but but yeah, I think this is more of an expectation story and coming
in line with expectations
Good stuff. Thanks, Evan
I'm sharky
You're watching this morning. Hey, good morning. I just getting a lay of the land here
Obviously we hit that huge drop. So it'll let the market settle a little bit and
Let the dust clear
And we'll see what's up
Sounds good. How about you paper?
Morning man, ah very
Similar. So basically capping across the board IV is gonna be juiced. I may not even take anything out of the gate
It's just a day to be ultra cautious ultra ultra cautious
For an options trader that is there's a couple things that are just plain
Obviously wish it would have been able to take some shorts that I had teed up earlier. I missed
You know CPI does this kind of stuff now?
It's just about like how does the how does the market digest it really?
So first five for me 496 is gonna be key pivot. Maybe we bounce up into that
We did it once so far in the pre
if we reject that I'm gonna be patient on a rejection or
Acceptance over so if it's a rejection 496, I'm gonna be looking for to
Lower highs on the smaller time frames if it's acceptance over I'm gonna be looking for two higher lows
above 496
Before I take anything so Tesla similar so if the markets dump beats as it likes to inverse spy
That could be an upside play after like this huge gap down
Interested to see how some of the semis are moving
Snowflake kind of as expected post dated all earnings
You know getting hit a little bit
We'll see how that kind of flushes out but
Interesting to see some of this pre-market action right now
Definitely interesting. Good morning Kim. How's it going? What are you watching?
Good morning, um, I
Have some short
M2 K's on I wish I had more because it's constantly hit that
2000 level and I mean it went above it, but you know went down
Have a couple just too many m&q's on I didn't get too heavy
but I'm glad I have a little bit of protection and
Had a short call on arm, so I'm happy about that. It's not gonna save my whole position, but it'll
save some of it, so
I think just you know the market was obviously we're getting this big move down because obviously it was
Overrun essentially, so I mean I'm not surprised at the big reaction
Just wish I had more shorts on but thankfully I have a few on so
Sounds good. Yeah, definitely the shorts winning out this morning. We're Mikey. We're gonna Rachel
Rachel would be watching here
Right now I'm probably gonna be cautious like everyone else that just because we're kind of all about now
But I am watching
Microsoft it did fail a fit that I had so if it does if it can't break about 409 against
That's one that I have on watch her
Sure, and also a indeed
I have a scanner for a 1330 EMA cross on the four hour
So that one's actually crossing lower on AMD, so if it fails below that 166
Level that's one to keep on watch, but we're open now
But I'm just watching at the moment
Tessa's getting us little spike here
Yes watching the overnight though
Sounds good
More rooms your rooms good Gavin a lot of smart stuff in there
People deciding to wait before they jump in on a liquidation like this. Sorry. Oh
Yeah, no need to rush it
Speaking of even at the open zoom info you haven't pulled up on my screen now. It's up just 7% from like 15
Interesting there goes in video a little bit downside
Mikey you feeling more downside here this morning. I think we pop back
Yeah, this little gap there in my long-term account. I just did my my daily DCA into QQ Q
I'm here. I'm kind of watching a board share
Thank you
Recuts coming Evan at some point
Yeah, probably good idea to wait a few minutes maybe even the opening 15 minutes for the opening range to set
Wait for this volatility to sort of shake out. I think a lot of people
thought the market would keep going up today regardless of whatever the Mac or news was but
That didn't happen. Like I think a lot of people might have anticipated. So we'll see where this takes us
But just be patient no reason to put you
These miners getting murdered
Yeah, the the analogy I use on on days like this is this is like when you go out to dinner with your buddy
Who just made like a hundred million dollars on a deal and the check comes you get alligator arms
Let him reach for the bill. Let the large traders work this area out before you jump in, you know, yes
Don't try and guess where the markets gonna go let let it let it suss out
Let it like you walk trader said let let price discovery occur from the big boys
Pay the bill, right?
Crowd down five percent
Baba bouncing back a little bit
There's a pass-through continue to bounce off the lowest now they'll have a sandy has brochures right now trading
Meta moving up a little about three percent
We're a chance DDOG
Look at look out for 135 calls on DDOG
Yeah, that looks good some stuff moving back to green here
Mara down 9% almost
SMCI down two and a half
They affirmed on 8% a lot of big down days here
A lot of big down days here
Yeah, anything leveraged anything biotech
Draft Kings down four and a half
No, a lot of people are looking at them. They did some layoffs begin the Super Bowl
Paramount's down three point two percent about in line
Let's buy at
EBCI digital brands EBCI is double double spot others
494 is 70
Doesn't really move too much earlier
Tessa down 1.8% but coming back up a little bit here
Anyone feeling a pop back market cap wise by the way Nvidia is back above a
Yes, we're running into those single prints as we ran out of supply underneath the open. So we're above 49 75 half
And we got a lot of supply above us
So it's you know as you run out of supply the market runs up to go get it
That's why price goes up and that's what's going on right now
Hey V whopper you looking at level 2 data when you're saying single prints
No, no, I'm looking at market structure
That's TPO it's it's a really strange little dark corner of the charting world that Jim Dalton
taught us and
It's it's an insanely it's like taking the market and putting it under an electron microscope
You can if you understand how the business works and then you apply this method of charting which you can then translate to candle charts
It's an amazing how much information you can pull off a chart
But not the traditional stuff
But you can pull a ton of information like right now
I know that the markets run out of supply underneath the open and
It's rotating up to go get it and it's in that area of supply
From the overnight. There's an video bouncing here at 709
There feels like there's some opportunities definitely the upside here. I added some spy calls. That's a lot of sorry
They're kind of up. I didn't want to interrupt
The four. Okay, I was four nine five calls at a dollar fourteen
It's not up too much here, but I'm trying for like a lot of play
I do see Mac D crossing over here. So I'm looking for a potential bounce
Very nice
Looks like mare is getting a decent pop off lows
SMC I I'm going to scalp a hundred dollar calls
See what the IV is on this looking say why I feel a lot about my four ninety six calls
I think I'll send these to me every level point be made about their shares some high IV rating at the highs now two dollars
Thirty three cents on data see and shares are
Oh, here's one stock that's not going down WM
At earnings up four and a half percent there about eleven percent or two year-to-date
Had pressures four ninety five
We're sitting right on head pressure here
Looks like arm is breaking a small downtrend here above the UI why why 20 all different news
For the arm breaking a downtrend. Yeah premiums insane though
Which calls are you looking at I'm just watching I don't think I'm gonna get it just the premium is so high on that
Feel my love micro cloud hollering it isn't just like here now twenty dollars thirty four cents. I'll tell us
Oscar two hundred and fifteen percent IV as well
Pretty much across the board
Tesla 190 call
Mike yeah, just about to send it. I almost I want to send stuff like but the spreads right now just way
way too too wide
No, it's now
What's now? Yeah?
Are you in Tesla? I?
I that was that was the strike 190
When he had it if you're not there, you might be a little a little late
Yeah, it's moving
See her R&B Romeo echo November Bravo that he didn't burn out with facial report
In the bird research
How did they show report on the parental barrel?
About 53% in SMC I
Sorry, I was looking at the wrong ticker my bad 44% damn. What'd you get those out of that?
Are you being made of error by sciences?
These premiums are pretty crazy
The chair said $2.66 for ALC also named a tango they're still out a short report ALT
Your Express called it on a circuit breaker expr
Yes, we're looking to try and I
Got that overnight low. Let's see if we can get down there and give it a good punch and see how it reacts
ALT alphan you never stay a lot with a report on altitude now
That's bad chance
As we are sure shares of the altitude out believe it's angle
Yes, okay, I'm gonna scalp arm. This is extreme high risk
It's coming up I'm doing arm $200 calls February 16
200 huh? Yeah, you're scalping the premiums
$1.52 at the highs of two hundred sixty one percent Bravo Golf me, but Charlie
RBSN real vision getting a pop here from your picture sending a member
We these candles on SMC I and tessa
Yeah, right
I'll test the candle dropped all the way back down to 184 came right back up to 186 a
Little bit all over the place. I must see if there's any other news going on this morning
Let's see
There we go, it's a very easy campus
So a little bit on CPI
This was from a Ben Laidler said risk of inflation comeback is under pricing and under priced and rising
With the US labor market surprisingly healthy and economic growth strong q1 GDP now cast is at is an
above-average
So they're looking for higher than average GDP and then he said 10 year bond yields are up Fed rate cut hopes push back
They seem over a bullish
RBSN now hold it on a circuit breaker
They have a lot of stuff on core CPI here, I think we'll probably dig into that a little bit later today
Yes, and real vision hold it on a circuit breaker
All right, so we're 15 minutes in now, you know look at spy the
The rain are almost 15 percent. Sorry. Oh, no worries. Good job. Nice job
Yeah, the range is a dollar 20 right now
Not like if you're trying to trade the indices right now, not a lot of opportunity
So be patient
Yes, I'm looking for
4969 half and then the overnight low at 49 60
137 now trying to get back to all the high of the day
Nate what ticker was that DDO G?
135 calls this morning, which are no in the money. Nice
Having put it there any last night now, it's what I was
39% that's Delta Lima Alpha
Volley Volley Volley are holy
Those are looking at Draftkings really watching
$42 as a key level if they can hold above here today, then they're like more upside but
This level fails if support fails here. I could continue back down to 40
Some of price targets nice and clean 42 and 40 for Draftkings, but yeah, it's dancing on this 42 level right now
It's got earnings
$20 bounce on crowd right now insane
Paper what are you in?
I am in some of those Teslas. I'm in some crowd calls for
later dated
More a couple weeks out
I'm thinking about adding them
Looking at reversals here probably but about to open some
Spy like 496 is I'm in some AMD's that are bloody red, but watching everything like half gap
You know in Vidya and AMD both kind of like trying to reclaim their half gaps here
That's constructive. Ooh
And these are Tesla's almost gonna hit my stop here in a second
Don't want to see her go below
But we're just kind of chopping I I wanted to I have some snow runners, but
She's okay. I was gonna open a day trade on that but just to spready right now
But yeah semi is looking strong off the bounce
Interesting watch like shop also reporting this morning bounce
Heavy bounce what you take on this CPI data
It's a it's a big
Move in the pre-market. This is my take right now the market has to digest it
If spies not closing over 496 though, it's just more digestion
I don't really care about CPI to be fair. We'll see it's more gonna be about Friday for me
CPI is like very very backwards with me
You care more about PPI is uh, yeah, yeah PPI PC
CPI comes like so it's NFP PCI or NFP
PPI CPI on my on my little
Ratings of importance
And jolts at the top, right
What the lows now bouncing $2.76
SMC I as well look kind of sitting here
UPS T down big here your little day
Yes, and real vision resume Romeo Victor sending November
Just a UPS T law day
Yes, amazing yes you put
Yeah, it's not not doing so hot I assume a firm is down pretty big too
Google Tesla meta, so I guess Google's why why I don't have the best rebound right now
It was okay, we've done yeah, we also had the weakest
By 23 the or blow here on spy
Free market loves for 93 82
So the stocks watch today from their earnings were Shopify coca-cola
Do you know
In it yeah data dog and everyone
Last night yeah, well quick notes. Yeah, Shopify. They're
down bad as the kids say
Shopify down well they came back a little bit. They were down 13% are still down about 7%
Despite a top and bottom line beat
Reminder that the stock more than doubled in 2023 so expectations are likely pretty high
Looking to try to start to work into a long trade not yet though
Come on overnight low in the US come on you ticks
Give it a good punch. I want to see what's lurking underneath 67
Coca-cola they also had their earnings
Yes feels a little heavier than
It's not as strong as a bounce attack
That's trying to take out that overnight low, but my grandmother bits hits bids harder than this good Lord. It's taking forever
Here we go one more tick there
If we do a look a blow and fail or look below 67 and go
Coca-cola is up. They had really good numbers
The dog was down pretty bad they were down about what 14% but they're almost green now. Yeah, they are
It's a good dwac share seen heavy activity new lows for do whack
Bob Flair Mongo DB pure storage. I mean just this whole industry is resilient
And then Airbnb's after the close today Wall Street expects 55 cents per share on revenue of 20 2.16 billion
Reminder Expedia gave a pretty gloomy forecast last week on travel demand outlook
This is one of those times when you see really really high IV like I own arm if you just keep selling
Call well, this is what I've been doing. You can sell the weekly calls over and over again like yesterday when it popped up
selling like the
160s were
$1,800 the premium. I
mean making a 30%
Move up like that, right?
Just and then they deflated to 600 bucks. It was like a 1200 buck reversal and
Like all day long you could have scalped the short call on arm yesterday just because the IV is so high
So then it you know, you buy the weekly it that theta kills it right away
So that's what I've been doing. I'm in the 134 is now
Against my stock though. I do have stock. It's not all it's not make it
Watch Google 146 call the grab 496 Michaels
Little look below 69 and a half fail. We took this 71 to 72 just for a scalp trade
See what holds 49 69 cues hiding
Interesting
So maybe he's better
Paul what else are you looking at?
Hey wolf, just just trying to be patient
you know, I really like to trade spy most days if I can and
Yep, spy did dip under its range here the opening range
the opening
It did dip under
It did it did sell off got bought back up an orb range now, it's now it's selling back under orb range
Continuation the downside could be interesting to see here
But less than 370 calls for pan W
I just heard them squawk out hollow. I've been watching it
I saw it come back from down minus 9% this morning. I was up 20%
Kind of just been watching though
But yeah, this thing goes crazy sometimes
Draftkings making a move off that 42 level
It gets above its high a day might take an entry here 4250
Took a little starter
Like it a lot better. I'm actually grabbing some of these keys also
Yesterday we saw a Beamer go from BMR go from a penny stock to you know, like an actual stock
Oh my god, that's up 80% of going today
Watch TTD $75 calls. Yeah BMR is halted
Which one was that that went from a penny stock to a real stock
Some of our colleagues of course our mouth that's in a memo seen by Reuters will be notified in fact employees
We're based in the US by the close of business today. There's the wall to be in taxes
outside the US that's
All right, I took some hollow comments just for the fuck of it just see what happens here
It's moving like it just moved eight like seven eight percent on Commons
What's that kicker
Yeah, it could totally crap out any second. What is it though? What's the ticker?
HOO I wouldn't put any money into this that you can't afford to lose. Oh
My goodness did they have earnings Google 146 calling the money
It's just squeezy
Yeah, that hollow is just points here
That hollow the cost basis is under like five bucks. I just saw everybody knows
You know those deals are great if you have, you know, a couple hundred million shares to liquidated to retail buying
But you want to be careful tricking these things?
What is it I had gb
Dgbi today and I'm not gonna take credit for it because
Maya who's not on Twitter anymore told me about it. It ran all the way up to nine from like 250 this morning
DBGI is the ticker
From 97 cents to like to I'm sorry to 450 which one
Nice job, Mikey
So just scalping the short side of arm like literally I've been able to scalp about 1200
against my shares
Just another strategy everybody
WYNN and PEN news
Just went along 42 strike draft Kings
For this week's gonna be taking the taking those off the head of earnings
But I like to bounce here 42 and I like that news on pen to win good time
Hey, turn all up I put a hologram thirty-eight percent now twenty three dollars sixty-four cents, so tell us to me my Oscar
The appliances
Do not need this goddamn thing
Let's go Tesla your high day
We're low in the ES
Am up 17% on holo-commons
Yeah, I am Julia alpha November sir. She may increase the back to me do my stuff. This isn't Michael Jack Jay
Did you say 17% on the commons wolf
Yeah, but again, they could all be gone in a minute. I mean, it's up
19% right now on the from where I added
But I mean look at the stock. I wouldn't be surprised if this has got a minute
I didn't put very much money in I just wanted to 24 and 34 with a eye
Nice job. Well, it was just how they would have sent they got halted. Yeah. Yeah, it's how they
All right, whatever
There's no options on it. So no, there's no options it can probably keep squeak
I mean what what's the is it new this talk?
It's uh, I don't know. I think it's just
I think it's it's not new. It was just it was just time
I think yes, I think it's just a pump
Yeah, it's a pump. It's a pump. Somebody needs a new corporate jet. It's not that difficult to figure out
I mean this is why am I saying she have a little they cleaned cleaned up the float and
Ready to pump it now
There's a gap at
28.7 on it. So
Is there news on it you're just saying it's a pump no, no, it's just that it does this
This has been running
I wish there's a whole thing on
No, it's it's a pump because i've done hundreds of them
Yeah, no, you can it's not that's all it is
I will not be like actually investing in this I took it as like a quick scalp see like have fun like hey
Let's see if it runs 10%
I advised not to invest in it. I would not leave your money in it overnight
suggest you're looking
Just by two cents
Arm down 36 percent
Looking for 4963 in the es as it cannot hold the overnight low
I'm gonna add to my arm position
I guess that's kind of been working
Uh ton else
Oh big candle down on google right there
That's funny because tesla's been down every day the market's been up now it's trying to bf when the market's down
Yeah tesla is a cruel mistress
There's putting a pop here
Of the lowest $15 99 cents on the fire
Alt announcing utilizing 53 on the right stock pre-purchase plan that's helping you help me get tango popping on that
What did you say mike
I added to my arm position
If the same calls yeah same calls i'm down 17
Yeah, I like the bear case for tesla, uh kathy wood's bear case for tesla of 20 27, uh 1400 a share
I'll take that
She was right about it going to 4000 when everyone at cnbc was like laughing at her be you know
The priest last two split. She said it was going to 4000
And it was like
Yeah, I wonder how uh his um compensation, uh
Package is going to shake out with delware sort of uh disallowing
That we'll see we'll see where that goes. I guess we're going to do amd. We're going to do amd
172.5 falls
And netflix is catching a bid to the upside trying to break out close the gap upwards
Tesla is also trying to do the same thing right now. Um
Vicks vicks is high a day. It's at 14
90 just under 15 vicks has steadily been climbing for um
Kind of since friday, it's been steadily climbing from uh 1275
Hllo resuming again. Okay. Alaska lima austere
Cues are relatively
More strong than spy today. Yeah. Yeah
I see spy 600 call 175,000
Crowds dry pushing
It looks like arm arm found its uh support wick down under its or blow
down to uh
Did I fuck up my ad
Please tell me no
No, not yet
These small caps are getting crushed you guys see how far down the futures are 80 points
That's insane
Let's see tna
Wow 11 and a half percent down now new low day
Yeah, not a ton of upside just yet, but that amd looks good
Amazon and video apple tessa now looking terrible
Yeah, iwm is um heading down
Maybe we've got some support here at uh 195, but we'll see
Yeah, we're doing this
There's a lot of snow outside y'all getting snow
Oh, yeah big big old fat chunks in dc here
Yeah, mike you got snow up in canada
interesting
That's why sir
Come on 49 63 on es
four ticks away
Good liquidation today slow liquidation, but good
Yeah, I see waste management hitting all-time highs but not a lot of other
52 week highs today
It's one of my favorite value stock point gaps. Yeah, they take time to fill joe. It's good
We haven't had a gap above us for a while now
So that means that there's supply
Which means that we'll get better price action this week and next week. Hopefully
On waste management
Especially if we can stay underneath 49 75. Oh got it
D e l h 61 calls
Dbji digital brands talking about
Announcing better without uh, how many york ranks that'd be raising
Equity, uh, what brings for 2024 and
Yeah waste management up five percent that's one of those companies that i'm
Big fan of
Open on the way down now at 99 cents
On that dbji just squeezed again from 650 up to eight
I'm fencing a market up to 80. That's the features down 74.75. That's just down
That's that down 305.75
Who doesn't have 42 cents at 77.32 cents gold down 28.70 at
24.0 is 10 cents
bitcoin features down 1625
So long on mq
Eight eight the willow micron squad hologram shares
It's continuing to lower $20.90 now from the earlier highs.
That's H-O-L-O. Now down about $4.00 from the highs.
I think it's going to be simple back here.
S-M-C-I push it.
Small caps still going lower.
Tesla looking like it wants to roll over a little here.
Tesla's testing the orb high here.
It also could potentially be finding some support here at the oversold Bollinger Band.
I've got that at $185.85 right now.
That's a moving target, of course.
We'll see where Tesla goes, but I don't know if I would short Tesla right now.
Yeah, it did a similar pattern yesterday, so we'll see.
Yeah, so arms down 15% today.
Affirm is down 10%.
Plugs down 10%.
Rocket down 10%.
Charge point down 10%.
The nugget, the gold miner, is down 9%.
Mora down 10%.
Yeah, a lot of names.
A lot of names, big drops today.
Shopify down 9%.
Laser, Luminar Technologies down 9%.
D-WACK down 8%.
Yeah, waste management's a big winner today, up 5%.
Yeah, we're doing L-S-C-C, L-S-C-C, $80 call.
I mean, certainly, I like Mikey's idea of like...
D-P-G-I, $10, $0.56 now at the highs up to 67%.
There you go. Unholt and Harlow, right back down.
Yeah, I like the idea of going long, just in general.
Just because when you get a big gap down like this,
there's certainly a nice risk reward for playing the gap fill.
So many of these names are down big percentages today.
5%, 8%, whatever else it is.
So definitely, the risk reward is there for gap fill to the upside.
Rachel, have you taken anything else?
Oh, she had to drop, nevermind.
There's 49.
I'm in those 42-strike draft king calls right now.
How did you deal with all the miners and everything like that?
Yeah, I actually closed those out yesterday on the big move.
I had an open position on Mara last week.
On the big push-up last week, actually,
it took about 60% off and left some runners.
And then yesterday with the big move ahead of CPI today,
I just thought it was a smart thing to close it out and let CPI play out
and then come back to it and revisit.
So that's exactly what I did.
And now I'm looking at where we might be able to get back in
for another trade on Mara.
So let me see here, actually.
It's a bit tricky, but, yeah,
we've got a lot of volume support here down to 24.
So definitely keeping an eye on that level.
And then 2293 below that.
So really trying to hold up here today.
If we can hold above 24, I like potentially getting back in,
targeting and move back above to 28.
But still a little early today.
Be patient on Mara and these minors right now.
Okay, then.
The GBI is 1287.
From six when I just said it like a few minutes ago
and I didn't grab it again.
No, now it's up to 23.
Oh, my God.
It's salted.
So it's like bouncing around it after the halt.
When these things squeeze.
What was that ticker again?
CSX and temporary.
Doug George.
Ray, Idaho.
Oh, I'm sorry.
I got out between eight and nine.
And then when I saw it go back down to six,
I set it on here and I was thinking, oh,
I should grab more.
But I didn't want to get greedy.
I increased activity for video.
Would you take on CLH?
The video where the CLH, we did 61 calls.
Yeah, maybe I just grabbed some 750s.
In the video, I like the 750s as well for a scalp.
All right.
Stuff finally starting to move a little.
I can see I knew I did.
Oh, my bad.
Big bounce on IWM off the 50 day.
Keys bounce right off the opening print.
Let's see.
It's by retesting frame market lows.
Broken downtrend.
It's a toffee.
I think video is going to go green.
Yes, she is.
45 points here on NQ.
Yes, looking to reclaim 49, 69 and a half.
Now we're back in the overnight range.
A little look below and fail.
Tesla doing just like I thought it would.
Going over a little here.
Looking for 185.
Let me make this a little bit easier.
Throw a chart up.
Let's see.
Testing got Tesla at 721.55.
I just put up my Tesla chart.
Oh, sure.
Never mind.
I wrote that in correctly.
Just scaled on my NQ.
I'm starting to push.
There we go.
Push, baby.
I was starting to close my long steel and then it started to
I'm like, what?
All right.
I got the Tesla chart posted.
I'm putting it in the top of the space right now.
That's kind of just the, I mean, obviously I like the
direction where it's going, but that'll give you the
target level.
If you are in anything, Tesla is in the top of the
Let's see.
feed IPO to 10 bucks and they're trading at 19 cents now arm now only down 8%
she's ripping that's got my SMCI new hire day come on AMD new hire day for
those who took the 172 50s there we go there we go cues okay I'm gonna try to
I'm gonna do by the way I just made a prediction for Nvidia over the next
hour it's basically almost already hit the next above I'm gonna scalp $1,200
calls for SMCI this is extreme high-risk all right maybe probably not
today I entered those Nvidia predictions at 720 and it needs to get up to 723 66
arm up 18% there you go that's about the fuck was that harm reds
nice little rotational trade from the overnight low up here to this 73 area
and ES and I'm looking for sellers at the open at 75 and 75 and a half there
should be some some inventory there CLH up 85% let's go love to hear it
cues new highs coming in on 730 or 430 it's key level AMD new high for those
in the 172 50s arm up 13% yeah spy coming into view up yeah it's testing it
right now oh yeah now we're getting some action okay here's what we're doing
trimming cues for 30 calls that's the flu through will be that's my entry yeah
no it did hit my level so we're doing CVNA $60 call oh IWM reclaiming 195 can she do
it it's a big one CVNA 60s yes you had called those out previously as well right several
weeks ago as a swing okay and then we're gonna do
up st 40 dollar call February 16th month of my runners now on the futures
Mikey were you talking a nap before yes sir is it gapping up someone asked for our thoughts
on it from the audience the stock itself is not really gapping up it's moved up a little bit it's
down still five and a half percent or 5.15 but it was down more earlier almost 90 points here on
NQ yeah it was a nice rotation in the yes yeah perfect below and fail there just peek below that
490 what is this 49 6450 is what I have I think you said yeah very at 63 yeah yeah we're in the same
neighborhood BBG is ripping face Wow yeah there's some CI calls running now the store
goes eight hundreds barely you can't keep it down CLH 120 percent really boom that prediction up
in the nest above within five minutes already a hundred percent well if you're never catching
me LSTC LSTC the $80 calls are up 130 percent I hit like 500 percent today it was such a risky
trade I wanted to get in on the on the gram on that but I was paying attention too much
you have 300% today one that's gonna be a 0% and yeah so what about my 80% that's fair I didn't see
these earlier okay you hit more than I thought still got a couple 80s and 70s we got one zero
common probably oh brother this guy stinks you've never had a zero right it's more fun when I'm
just going at him and he's not coming at me I could say oh yeah paper games got one that's
what I had to what I do what I did the Tina oh Tina is it close I've never heard anyone call it Tina
that's so funny I like it better I've never heard that I just put up one for Nvidia this one's
definitely a little bit more of a ballsy play but I like it or it's at so I just posted it and I
pinned it up in the top of the nest and video one-hour target level Google new high a day only
use Boeing order system out we'll see Boeing orders delivery to dry up as plane makers grapples
will latest Mac hurt max crisis isn't CNBC online so I'm guessing Boeing it was some week orders
Boeing delivered 27 planes in January down from 67 in December lowest tally since this September
she's starting to move here use might be might be what we're taking massive profits and it's a big pop
yeah I'm glad you realize you saw that divergence that cues was the spot to be for that long yeah
apples trying to push a little bit we just made continuous higher highs so we'll probably pull
back see some profit-taking now little those shorting the backfill of 49 78 you know you're
looking for offers under 75 you're sharing the back in price
good to see CLH go green right there it was down four and a half percent
video couple stocks going right to green I'm seeing a video I'm seeing a Disney and uber
metas pushing here to market cap check videos about 15 billion bigger than Amazon right now
and about 30 billion behind on Google spy bounce right off the opening frame you want to hear
something crazy video is now go for it so I was to say SPX I see sold what's coming through
4900 and 4950 2.1 million and 2.8 million all for March 15th I was just gonna say that Nvidia is now
3x larger than Tesla I'd be careful here this is about a 50% retracement of the CPI move this is
generally the regression trade spy just put in a five-minute doji also what's up paper I don't have
50% here all right I guess if I no I'm gonna get the down candle yeah oh cues yeah sorry I thought I was
looking at spy oh yeah keys are at a major level ES they're gonna distribute some here between 75
and 80 and then if the buying runs out of sideways action see if we can flag out yeah it's distribution yeah this
product is under 69 and a half you know might as well turn that inventory into cash here at 77
ES can hold 4975 we'll see if we can get over 4983 and the flight path
that the makeup push to 4990
that makes strong software strong
yeah who was that who just called out those levels shark me shark hey that's cool yeah we're all we're in the same neighborhood
and video new high yeah I can see I didn't spend too much time under 781 will be interesting to see if
LRCX can play catch up to the other semis too it's still down 16 here yes ma'am nice good touch yeah I call out
and video 750 calls up about 60% here so if this reversal holds this this kind of signals this is pretty bullish correct I mean I feel like
this morning a lot of people were saying oh this is the start of it this is the start of it this reversal I mean obviously we're not
even all the way through it but on spy it's 496 for me and like if we get a daily closeover 496 we're still in that uptrend
keys are basically there where they need to close above if the keys have to close over 430 but we saw we saw Friday in the way right so like DPI I mean for the for the bulls if it's hot then they're they're gonna start
trying to sit in some more rate cuts and they might run it up to where we just came from and then and then pause on Thursday and then wait for people
yeah you guys also you guys want to see what kind of buying retention there is in the es over 4990 panda what percentage of the people that are long are gonna
you know buying retention is very important in markets and I'll see you if there's good buyer attention
always be careful that the not mistake inventory corrections for massive sell-offs as a lot of people end up going and shorting in the hole
I'm just gonna go ahead and get the
over 100 points
was this the liquidity grab that they were waiting for
was this the opportunity that all the cash up 170 percent
next one we're gonna do yeah I hope it turns into another c e l h
we will do that one just not yet
I'm in octa 90s
yeah me too
he will love you buddy
this is extreme high risk
you had a day for draft kings
scaling out first 20 percent here
let's go Nate
yeah buddy
said CAVA 50 or 57
crowd strike flagging out after a $20 bounce over daily range
is in the money
they're really nice on c e l h
188 c e l h
oh that nvidia one that I put up top just hit
yeah I really like that
oh my god
she was just waiting for that dirty dirty dog
and it's still over 42
4274 right now
he was getting some nice moves
I basically just took your spy level and made a prediction for it
I'm feeling bullish off this move
I think we get above that target level
but I pinned that up in the nest above
s and p 500
it was like 496 correct
yeah 496 0 6
this one is 496 36
so a little bit of leeway in there
feeling good feeling good
it's any constellation half gap on spooze
those spies
god damn crowd strike
there are a couple earnings after the close today
by the way
let's see
we got an airbnb
a mgm resorts
zillow a robin hood
instacart
nvidia 750 calls are a double here
430 calls up
mrcx we're gonna scout the 965
that was the phone
great catch Rachel
fucking fired
I'm long instacart
you guys wanna hear something a little interesting
on this day in 2009
Mark Zuckerberg tweeted for the first time
what he tweeted
never thought I'd be on a boat
and then 175 million
call for new hire day CAVA
cel 8 over 200%
SMC I rippy
And SMC I this went that's over $1,000 a contract. Yeah
And W or 370 calls are heavily in the money
Kava's moving up to
This one aim these up sixty percent. Yeah
Nate you got anything else you want to share? Sorry text?
Appreciate not just keeping an eye on
There's on digital see how it does today
For potential entry if we do do get things holding up. I mean, it's recap recovered quite a bit and
Draft Kings looking well, like I said scaled out there, but targeting 45 60 for a next profit taking level
And yeah for marathon, I mean if we can get back above
Really look at a 26 then that could be pretty constructive
Maybe get back in and take a look at more upside but that rule real past is today. I'm a paper looking forward to Friday and
See what happens. I'll get you guys a little later on today
Sounds good
Some see I was already at six SMC. I was at three point three percent
Another day to the upside
CC or $80 calls are up 120 percent
You took lattice. Yeah, I called it out, bro
Nvidia 1.4% now. They don't even know lattice. Oh, they will now
Are we doing this?
Just seems it's all the same areas of strength
All the regular culprits
Apple moving to
And then what is 175 million reference no idea
There was news on the way in and another ticker
Enter pen announces agreement with win interactive holdings to acquire mobile sports
wagering licenses for market access 25 million
So pen bought the ability to enter, New York from win for 25 million
Also, there's videos of a lot of the cheese players celebrating at the win yesterday for two days ago
Also, by the way UBS increased their price target on Nvidia to 850 from 580 by rating
Also, I don't know if you guys saw last night
Mr. Jim Cramer came out and said he thinks that
He does not see a market decline coming soon adding that this momentum may last longer than think
Maybe in the things where all the money's been going that could be true
Well the markets moving back higher today, so
Apple still going here
Invidious ago and cheese
And videos now just 15 billion behind Google
What's that a 10-cent move
Probably a 1% move roughly
Dollars if Google didn't move at all
Paper you watching gold or any of these other areas
Yes, I know like yes, but I added the other day and then I trimmed yesterday on GDX thankfully
But it's all about the dollar dollar needs to be under one of four and the tenure needs to be below four
Two so unless we see that then it's gonna be hard
But once we do see that then it's gonna be game time
It's been it's been like the 10 years been chopping just under four two, but the dollar could not get below
104 so if we see both of those kind of happen
then yeah, I
Do I just every time I look at GDX though I gotta say man
I'm like I cannot believe it's this low like just looking I'm like this is this is like
Hello, it is
Knew I here we go for 96 and coming
See a leech pushing a little bit further
By the way those hollow
Commons are up 26 and a half percent now. It's up 50 percent on the day
If you do take anything, I mean might as well take some profit
Watch all time as well. Yeah, all the 630 calls March 15th. This is a swing and it's extreme high risk
Again, that's all the 630s
It's March 15th
Keep an eye on Lly 770 calls
I'm out of my lungs here. Just give it some time, but hell of a hell of a morning
Yeah, big bounce
I'm also gonna try you and h you and h 5 4 0 call 540 call for you and H
Thanks for having me wolf. I'm gonna sign off. Thank you everybody. Good job. All you guys getting long on that big down move
Thanks, Ken
Absolutely, yeah, a little slow morning to start but we didn't pop it up here. We got more spaces content coming along to
Mikey what positions have you have you trimmed anything or closed anything out?
No, I haven't actually
So CEL H is up 232 percent
I'm still on everything else I called out
Sounds good. Yeah
Videos finally coming down a little bit here
We are some inner to away from 11 a.m. Eastern doing a little future trading chat at 11 a.m
Right, all right
Mikey any other any other updates
Management on positions and I always appreciate you coming in and coasting fun that we're doing
today tomorrow
This week a little CPI action too bad. It wasn't to the upside, but I feel like we made the most of it. I
Mean we did
You know, there's a lot of people probably asking so why the heck is by calling out calls
When everything was so bad as it was before the market started. Well
I'm sure we can see that
It's it's not matter of you know, just playing footage. It's a matter of finding the right
sectors or the right tickers
within a particular sector that that will perform well over a
scenario like this
Yeah, one example would be
CEL H some CI
Mean she jumped up and I missed it
No, you're good, you're good
I'm gonna roll us into this next one here, but big. Thank you to Rachel and paper. I got paper shark
Thank you, thank you
And if it was wondering I'm still in arm as well
Yeah, that one goes but yeah big thank you to all you guys this morning, I know shark you're staying on we're talking about futures here
Excited to see where it goes. Oh, yeah, is it an intro or is it are we are we gonna be trading?
Well, listen if you got trades you could come out
But I definitely want to go over kind of like an intro as well as just like outlining for people what they should be paying
In touch to as they get started
Perfect. All right, Mikey any other stuff on the positions that you want to call out before we roll into that?
Nice job on a video and see these were up so much
And Andy as well got in the money
Invidia was papers, but yeah, I mean I did trammel the highs
I also sure sure that's luck. I
Have runners
Andy we have we have runners also
Mikey and I both talked about a taker that we mentioned a strike on but octa I wouldn't I would just watch it
Right. It's a very interesting setup very similar. Just know about a two-year base
Earnings on deck incoming it's in the right sector
Great job paper. Yeah, it's a good one as well
another one to
Keep an eye on is
Oracle I want to see a retest of one
115 today
Well, I appreciate everybody is definitely fun trading these morning, especially after CPI and we'll be live tomorrow morning as well with similar crew
so I'm looking forward to
Paul you ready to roll here
Morning wolf. Let's make it happen
Sounds good. All right. We just did a lot of trading this morning, especially around CPI and
Now we've got a little session coming up here with Frank and shark
Maybe one or two others will come and join us and we're gonna do an intro to futures trading for about a year now
We've been the only live futures trading space on
X but to be honest a lot of people still don't even understand what futures are how to trade them how they would get started and
So with that being said we are going to go ahead and we're gonna give a little education this morning
So stick around because you never know this could be the move for you
Just if you're completely unfamiliar with futures trading, it's got a lot of similarities in my eyes to option trading. It's very volatile
You are typically trading on the indexes from what I've seen if you're trading an NQ and ES
Those are super popular. You can also trade a variety of other things whether it's oil gold silver, whatever it is
The big difference from my audience. We were just trading options here
So take a look real quick if you're trading options with us and you know
It's a lot of them, you know pop to the upside shout out Mikey a paper everyone that was calling them out
some of them are not gonna work out right and
Because they have high thetans came in by volatility an example here, I'll give his arm, right now
most of the ones work today, but arm
Kind of got double hit right the stock not only went down but it also
Had a very high implied volatility at 283 percent and it also
Had a very high theta decay, you know that was going on there
And so as it was sitting there was just losing money in the position even though
You know arm didn't necessarily go down that much went down a couple percent
So with the futures, you don't have to worry about the theta decay
You don't have to worry about IV you basically get that built-in volatility on the moves without worrying about those other pieces
One of the best ways in my eyes to get started if you are interested in this is gonna be on a simulator
With a prop firm. There's a lot of problems out there. I like lead trader funding
I never had any issues with them and working with them for about a year and
Everybody that I've kind of led their ways had good experiences that you give away together with people stuff like that
So if you do want to check it out, I put a link in the top of the space
It is pinned up there. That's a big sale that they're offering on this link. I've never seen a sale this big
They're offering it on the
One step evals right now. It's cut down
90% off so it's $80 to $8
So to be honest if you were ever going to try futures trading today is that day?
90% off by far the biggest sale they've ever done
So with that being said, let's get into it. Let me turn it over to you Paul intro a little bit about yourself
Futures trading the company and the sale that you've gone
Okay, Paul can you assume
Can you hear me now? Yeah, we got you now. Okay. Thanks. So do we adjust it? Yeah. Thanks wolf. Appreciate the intro
Yeah, and I appreciate all you guys tuning in this morning
Seeing the market drop-around CPI and what's going on very volatile morning. It's crazy and with everything that's happening today
I want to say thank you and happy early anniversary to
ETF and as wolf, you know denoted a little bit earlier this if you use ETF 90
You get 90% off any non fast-track evaluation
until just before midnight tomorrow night, so
Please, you know help yourself go on over to ETF dot fund that will take you right to our website
You will see 90% off these all the non fast-track evaluations
We got a big sale going on right now. And as you are here listening
You are the first listeners to hear of this. We have not let this out. We have not let
You know put this out on our website. We have not been posting this out anywhere
So as a listener, you are getting the first
News of this. So please take advantage. We really appreciate you tuning in
We've really enjoyed doing these spaces with wolf and you know introducing everyone to futures as we all know
options are a big part of the market, you know, we
They bring a lot of people in and there's a lot of money that moves in and out around those
But with futures trading we are trying to you know, make that more accessible to more and more traders
we want to educate people a little bit more into what futures trading is and
Help it and help it be a little more accessible. It's not always
Feasible to drop
$25,000 into an account to meet the PDT rules depending on what you're looking at trading
And you know, you're not necessarily wanting to drop a few thousand dollars into it an account with a broker
Just to try and start learning a new strategy. You may have learned about
This is why we price our elevation our evaluations and make it quite a few different
evaluations for the different traders
Depending on what your style is, you know, if you're a scalper or you're trying to hold for that longer move
We got the evaluation that's just for you
So again, please head on over to ETF dot fund and see all the evaluations we have to offer
It's kind of interesting. I wasn't sure
Is there a specific point or where do we even begin talking about futures wolf?
Is there something is there a question that you had or something when you first started looking at futures of what was the big?
Hurdle that you had to overcome when you started
investigating more about this market segment
Yeah, I think a lot of people are just aren't even that familiar with what they are
Can you explain how futures became a product like why there's interest there what the benefits are aside from the ones that I outlined?
Well, sure, I mean
So little introduction to introduce myself. I I am a relatively new futures trader myself. I
Discovered trading and futures trading about three years ago looking for something new trying to take a little bit more
Of my finances and looking at how I could get involved in the market more and more and as I looked at trading
It really caught my eyes. I wasn't really interested in
Scanning the market and running scanners to look and see, you know, what company might be moving for that morning and
Trying to get in on that one that may have that volatility for the day
And you know if you're scanning a lot of different different names different companies
There's a chance that you may not catch that volatility
Right. We are in interesting times now where there's maybe seven to ten to twelve
Specific names that are leading the market and things like that, but it hasn't always been that way
so that at the time when I was looking at the market it was it was more of futures that caught my eye because
When you're looking at ES or NQ
We're looking at the combined efforts of you know
a big part of the market right S&P that you know that yes
It's it's the futures for the S&P 500. So it's kind of following the movement of
500 specific companies that Standard & Poor's picks to see
Okay, who's going to who's going to be the performers that make the top 500?
All right, and Q has less than that but you know, it is as
Substantially more volatility
Right. I think it's NQ is following just what is it 100 specific companies?
But the futures are contracts futures started to come around the time of when the government was working with
To try and settle the prices for their specific commodities that they were producing. I am NOT an economist
I can't give you the full
history of
Futures, but I will tell you that futures contracts are financial derivatives, right?
So these are derivatives of a specific
Commodity right so you will they oblige a buyer or a seller to purchase an underlying asset, right?
predetermined future price or date
futures are
They cover quite a few different
Commodities right so you've got grain you have livestock energy
There's even for you know, the forex traders that may have been getting kicked out of these other
Markets and things like that. You can even come over and trade currency futures
There's even as I think it was earlier paper was talking in the previous one
There's security futures, right so we can go trade the 10-year and the 5-year and the 30-year
There's a lot of different futures that you can trade that are going to act
specifically
Following their market, you know as as they are
you know a financial derivative, so
That that's kind of using some weird terms and weird
Words to try and help define. Is that clear up anything or is there just more?
questions around that
No, I think that's a good start
I want to get a couple of the other voices too because I feel like everyone has a different approach to it
You know shark you've been
For the most part trading futures nowadays. I'm curious on your end
What do you think would be some helpful things for a beginner to know about this?
What are you wishing you're going into it?
I think the
Barrier of entries is usually
something that at least for me
Kept me away to start
Because you know, I was really kind of only familiar with the prices that think or swim offered as far as intraday margin
And when I say that the future contracts they work a little bit differently
You know, you don't buy one lot and it costs
You know say five hundred dollars or two hundred dollars as you're paying for options premium you have a set
Price that each broker allocates to intraday margin to to you know, basically how much the contract costs
But today, you know, we have discount brokers and with the rise of great
Prop firms and companies like elite trader funding
They really offer a lower barrier to entry with a lot less risk
And you know for me, you know, the moves that you can capture on futures are a lot more
I think you have a lot more opportunity, right?
You can get 30 points on and cue or say six points seven points on ES
Which depending on your size this can still be a few hundred dollars even up to a thousand dollars
And on the options you're not able to you know, that's maybe 10 percent 15 percent on options
And sure that's a nice little trade, but you aren't really able to take advantage in the same way
So I've really enjoyed them
because of that
Where I can trade in and out of a little bit more choppy environment
and of course as we always talk about we don't have to deal with the Greeks giving us that decay and
As most of you as anyone, you know that's traded any futures before
Like I was mentioning, you know 30 points 25 points, you know 10 10 8 points on ES
So can give you about, you know 300 400 500 dollars and that's a great little trade
And and you know, do we really need more than that in a day, you know, who wouldn't be happy to
You know make 300 an extra 300 bucks a day, right? So
I've been loving them
I love that I can just wait and have the price action play itself out. All I have to worry about is risk
I don't have to worry about time decay or anything like that and it's been a really awesome tool and
It's hard for me to go back to office
Love it. Paul. You got thoughts on that?
No, it's it's great points. Thank you shark for that, you know insight. It's
Yeah, not having to mess with the Greeks. I think is the big one, right?
And you know, I mentioned a little bit earlier of you know
My first sort of peeking into this like wow, what does it mean to sort of trade?
What what market segment am I interested in and looking at stocks and things like that not wanting to do a scanner?
Or so to get into sort of the different companies and you know looking at the their specific
Information, you know and how that's going to affect their underlying price. Okay. Well, there's options
But in options you have all these Greeks that mean all these different things and I was not prepared for that and nor
Did that really interest me? So I never I never really got that into it. Sure
It's you see some of these people flashing those numbers around on Twitter and been to it
It's like wow, these these people are making substantial gains
But what are their losses that they're not showing us, right? And when I saw futures it was oh wait
I I just have to look at this and look at the price action and kind of following that and seeing all these different
Traders that are sharing their strategies and things like that was was very interesting to me and sort of drew me further into
Futures and I have primarily focused around ES and NQ
as sort of the two biggest
Markets, you know that that really sort of drew me and an interest to me is like, okay cool
I can learn about the levels I can learn about the price action and see how this market moves
And I don't have to worry about you know the time
Right. I don't have to worry about any decay or anything else that would have to you know
Any things that would represent?
Sort of the Greeks with options. It was okay. I am sitting in front of my computer right now
I am watching the market move I can change the time frames to see how it moved overnight
Right. This is the beauty of futures at 6 p.m. Eastern
Globex opens up and
Markets around the world are trading it well
I can get up in the morning and I can I can look at the the day chart
How did it act? Yeah, how did this new candle open up? I can bump down to the four hour
I can bump down to the one hour and start to see okay. How is this thing acting overnight?
What do I expect the range to potentially be today?
These these are things that really have kept me in touch with futures and you know three years later
I still still knew
Still making progress still making the same mistakes that make me feel like a complete noob sometimes right
I think that's my fault right. It's always our fault. It's not the market's fault. It's not my platform's fault
It's not you know the CPI is fault that this number that came out today
Did what it did? I thought it was going to do something else well
No, it was mine. Maybe I shouldn't have been trading at that specific time. Let that market move, right?
These are some of the beginning things of when we start trading we realize that we are our biggest enemy
You know, we're not in competition with that furu that's on fin to it. That's posting that stuff, right?
Our competition is who we were yesterday when we were sitting at the market
Right in this chair watching how this thing moves. So again, I'm still learning this stuff. I'm still practicing
trading every day to be a better trader
But again for those people that are just tuning in and learning about futures
Really look at how
Evaluations and prop firms are going to help you that we'd lower the barrier to the entry into learning how to trade futures
and if you DM us
We will help you out and give you that code and point you in the right direction
To an evaluation that would serve you better. So please
DM us or go to ETF fund comm check out the evaluations we have and
Thank you. Thank you for tuning in and helping us celebrate our two-year anniversary a little bit early
Love a Paul stocks after dark. Thanks for happening to the mix. You want to share some thoughts education for beginners trying to get into future trading
Hey, well, yeah, thanks for having me and I
Want to say congratulations on your two-year anniversary a little early but congratulations on that
Yeah, just like everybody else said, I think one of the main things for
Future training is just what you said earlier wolf. Um, you don't we don't deal with the Greeks and we don't worry about time decay
On options, right? So for those that are new to futures, you're really trading it as if you were buying a stock of a company
so just playing pure price action and that what that does that is loud a trader new trader or even an experience for
That is not exactly great with execution
It gives them a little bit of a of a mercy in terms of hey
You think execute you trade at the best time but you knew which direction is going to go and you know
allows you some leeway because I know a lot of times traders have gone to trades especially the options and
unfortunately zero DT options is what everybody gets into and
You get into the trade and you get into it and I get to go down
We'll just use a short for example and people go short and then they come pulls back and then just chops around and eventually
It comes it goes down
But you know by then they decay is very taking place and has to go back a certain amount before you even get to break
Even whatnot, but with futures, you know, you can see in trade all day
And especially for you know, some of us have been trained futures not just a day trading futures
But if we're able to swing our positions and whatnot
It allows us more leeway to make a mistake or just poor execution
Another benefit of this is like, you know if you're trading futures
It's very liquid right? There's a lot of volume
So you don't have to worry about it just sitting there sitting there sitting there sitting there versus some of the other, you know
options or
Companies that made sure it off seas by triple Q's has a lot of volume during the New York session that it moves
But compared to other companies sometimes it doesn't move also
You don't worry about the you know, the spread between the bids and the ass on certain companies. This is pure
This is where you're getting in that this is what's good be. This is how much we get per tick
Another benefit, I don't know if you guys talked about it, but trading futures, um, we get tax benefit and this applies for the US
I don't know anything outside the US in terms of how Europe and Asia works
but not not tax price, but this is just a benefit of transducers that
Most of it is considered six for split right 60% long-term capital gains 15% 40% at short-term capital gains
Right. So that is a big benefit for us traders
Especially if you're pushing, you know, eventually once you get to the point where you push to six figures, you know
It hurts it hurts that then the year you're taking all short-term capital gains tax, right?
And then another thing that you know
I think don't think a lot of people talk about for futures is that um
It's it's a little bit harder to manipulate such as like insider traders. There's no insider trading on. Yes or NQ, right?
But hey, you can have it start trading on Apple Google any kind of company, right?
There's always gonna be some kind of easier way to manipulate it
So it's a little bit harder to manipulate any of the futures and whatnot and just like you all said
There's multiple different sectors, right energy livestock grain metals forex
And the beautiful thing about futures is that we can trade this almost 23 5, right?
So it's not like options market where it opens at 930, New York, Eastern Time close that 4 4 15 p.m.
Your season time
futures market opens 6 p.m. New York time and closes 5 p.m. New York time and
This allows for a lot of people if you're different parts of world different time zone
sometimes hard to trade the 930 New York open because if you're in California that would be 630 if you're in Asia, well
That's determined depending on whether we have our daylight savings
That's either 930 your time or 1030 your time and to stay up until 4 p.m
You're already into your next workday and think so futures is very versatile very flexible allows people with different
circumstances life to get into the market
and now with the explosion of you know, these pop firms and why not the entry barrier like
Shark had said that Paul I said it's a lot easier
I just in the past you would have to have a substantial amount
But nowadays you can get in for very real cost even if cash account, right?
But with the pop firms you can get into the market and dabble your feet into it with a very little cost little risk
But you have incentives and in whatnot. But yeah, the futures market is great. It's honestly I everybody I've talked to
That has been introduced from options to futures
They don't go back because I think shark said before even with a slight movement in either
Yes, or in queue you can still make great money as opposed to options
You might only get 10 15 20 percent and even on big moves
You might get a hundred percent but on futures that can just be totally a game changer and whatnot
But I'll hand it over somebody else, but that's pretty much my take on it
Yeah, Paul love your thoughts on that. Oh
Yeah, you know
Thanks for the love stocks after dark and shark. Appreciate you guys
No, it's it's it's interesting to you know, again think about those moves compared to options
I am more of a levels trader that I've noticed
I'm finding more success in trading like level to level and you know learning how to
Leave runners and see if it reaches a specific level
But I know and we've seen some great traders have access
to specific evaluations like our diamond diamond hand evaluation where they're they're swinging, you know for overnight or they're swinging through the weekend and
Being able to you know
Let the let your trade move around the world and you know that you know
This expected move is going to be more and more it's it the futures truly is an amazing market
And I think with that ability to okay, you know
We're talking Sunday night through Friday night. The market's only closed one hour a day
You have that ability to learn a lot about a specific market, you know, whether it's oil
whether it's
Treasuries whether it's NQ right you're gonna focus on the the that specific market because
You are drawn to its volatility and that volatility is
Going to you know
Bring you in and you're gonna practice your moves on that
I I think that this is very beneficial that yeah, it is something that
Has a lot to offer
Everyone and you don't have a lot of these learning
Experiences that you need with options, right?
You don't have to constantly have those stickies around your monitor that remind you what the Greeks do
Okay, you can watch the price action in the market. How is that? How does that market move?
Does there something that speaks to you? All right futures has that for you?
And again, I got to correct myself earlier
I think I misspoke if you go to ETF dot fund that will get you to our website
It's a little bit quicker than typing out elite trader funding calm
ETF dot fund will take you to our website and please take your time looking through the evaluations that we offer
Okay, we have spent a lot of time and worked with our traders to bring what's popular to some people
Okay, not everyone is going to want to trade that diamond hand evaluation because they aren't interested in holding through closing
Or holding through the weekend. Okay, maybe you are a scalper
Maybe you're just looking for that quick three five seven point move get in and get out
Well, maybe our one-step evaluation is right up your alley
If you're if you're looking to have a bigger expected move, well, maybe the end of day
Evaluation is up your alley. But again, we have all these different evaluations
We are lowering the barrier to your entry into the futures market
Please take your time read the details of those evaluations
So, you know what you're getting into and this is a great opportunity that if you're not sure
If you're not sure that that one step is going to benefit you if you're not sure that that end of day
Evaluation is going to be what's for you
With our discount now
You have that opportunity to try a few different evaluations try them on for size see what works best for you
ETF dot fund and
Take your time. See what we have to offer
Yeah, I just got another message someone asking, you know what some of the differences are
I think they just got explained pretty well
But if you go to the page and by the way, if you can't find it
Just DM me the word simulator futures and I will send it to you
But the emails kind of outline what needs to happen and who they're for and what the max positions are
And again, you can get this as cheap as eight dollars today previously. It's been a D dollars
So 90% off
Not gonna find deals like they're offering today. This is by far the cheapest
I've seen everything on the side you get a hundred case that static about for 1350 here instead of 135
So some pretty sizable deals, but yeah, do you can just give me the word futures if you can't find them
All right, Frank would love to have you jump in share some
Some insights some advice for people trying to future straight
Hey, good morning guys Paul. Congratulations. That's awesome
Thank you, sir. Appreciate that. That's awesome. So I've been trading futures
Recently for about eight months, you know in the past my backgrounds in equities and futures
You know futures started with farming and then got into foreign currencies CBOE CME in Chicago
I started trading them in the early 80s
on the New York futures exchange
I was had equity background then I was a specialist on the New York Stock Exchange for 25 years and
To hedge our positions a lot of specialists use futures to head their positions, which was a great opportunity
And I ran a small futures fund
for a couple years in
2010 to 13
But you guys kind of covered all that
Looking at today. I trade futures a little differently than most
I scale in and scale out. I'm looking for 25 30 40 50 points hundred points, whatever the market it gives me
Trade also like Paul was saying I trade a lot of supply and demand
Actually right now
This morning it came in we had a big hammer and we're in a supplies
demand zone at when we started the day today, so like I was the I have a little
Snippet on my screen. This has never catch a falling knife
So I was I didn't want to buy the market with the with the debt with after CPI this morning
I was like, let's see where this thing lies. So I missed this this up move we had this morning, which was quite vicious
I think a lot of shorts got ripped up
as we came into a
Supply zone about an hour ago. I laid into it good and
Right pretty much right now and cues at seven seventeen seven forty six. I laid into it at a
little early seventeen seven fifty five to
Like eighty five and then we had that like little candle down
Covered at like thirty the whole position
Scaled in a little bit small, but then I just hit the whole button
But then as we rally back up, I am now still short. I shorted him again in that in that
Supply zone so I am net short. I'm short at like 68
About half a position for me is like 22 22 contracts of M&Q
I was a lot bigger than that this morning
So like you can like scale into a position in futures
If you know your zones and I scale out and look at the 30 minute the hourly 15 and then I'll scale in
It looked at the 15 minute and the five minute for entries
Yeah, I mean we're kind of holding here, but I think we're gonna see a drop at some point today
Yeah, if this follows through
But like I'm in a position now where I can you know, stop myself out. I'm comfortable. I covered a little bit and
And yeah, that's where we are. I mean today's been someday so far that was some rally off the bottom
But um, I don't think we're there yet. I think we have to go back and test before this is over today
So that's where I am. Yep, and um, you know future traders kind of we end up going in back
So I'm good friends with stocks after dark and sharky sharky night talk about the market all the time
So, you know, we have a great little community that talks about this traders retreats also gets engaged
So like, you know you share ideas and you uh, it's it's a never-ending learning process, but it's been really great
I really enjoy it and we're having a lot of fun and we're making money
But it you have to know your limits
You have to get you have to know the risks involved and you have to stop yourself when you're wrong pretty quickly
Like right now we're trying to break down if we get through
We get through
26 17 7 26 on nq
On a closing candle. I think we're going to flush down quickly to uh, you know, the 17 7 0 5 85 level
But uh, we'll see
Anyway, thanks for having me wolf
Um, well, I think you know, thank you frank appreciate the the words and the insight, you know
You got a lot of history and a lot of experience and I think I I love listening to you talk about the market
I love listening to you talk about future. So I really appreciate you being here. I appreciate all you
Speakers coming up and being a part of this this morning, you know, this is sort of a different
Time that we're doing this
Um, so I appreciate everyone being flexible
And yeah, I can see what you're talking like, you know looking at nq if it's going to drop down below that sort of 11 a.m
Sort of drop down. Well, it may go looking for, you know more liquidity down below
I was really looking at es and hoping that it gets above this 4990
2 area i'd feel a little more comfortable longing
um seeing if we can get up higher in this sort of correction this push down from cpi, but as it is right now, um,
I'm just keeping my hands
Uh free from the mouse as it were
Uh, i'd like to talk a little bit more about what frank touched on because I think it is important
To look at the different time frames, you know frank talked about it. We touched a little bit on it earlier
but with the
With futures and how how it does move around the markets throughout the night during globe x
It's important to see
You know what specific market you're looking at how it's been acting overnight and
Starting, you know starting at the date if you want to or at least taking a look at the four hour and the one hour
And seeing how this thing has been moving
Before you drop down into the 15 the five or you know
If you're feeling brave and you you know what you're doing dropping down into the one and watching that thing move
Prepare yourself if you're trading nq and you're watching the move
salute you
But I know a lot of people find great success in trading nq off the one minute because they know what they're doing
They know the levels that they're looking at and they can get in and get out
Because they why why can they do that at the one minute?
They can do that at the one minute time frame on the nq because they know
Where the the larger levels are in the one hour in the four hour in the day
And I would encourage people to use
That ability to cycle through
The the different timelines and see where those levels are
So when you zoom down in and you're getting ready to take trades, you know where they are
Got any other thoughts on that frank
Yeah, I think I think is exactly right and I I think i'm going to take a poll on one of these competitions for one of these
Evaluations because uh, you know, I love a challenge. We're all learning every day. It's a learning game
Um, believe it or not. I just added to my short a little bit here
Because my levels that i'm sure are higher
Um, and the market came back a little bit the hourly starting to look a little better at 30 minutes
It's a little still a little iffy to me. I think they're going to trade over but like now I know where
You know this thing trades at 1770 1775
Like i'm out like and you have to know where you're going to be out. You have to be disciplined
But then again bring to that supply zone. We're we're just at the beginning of it now
Anything if this is uh, above 17th, 1790
92 like it's all the trades over the shorts over
Um, it's all about your entries and your timing and your pages. You have to be extremely patient. I'm looking at this screen
That green rust is just waiting for levels to hit
Um, and it takes a lot of discipline and patience and uh
You want to pull that trigger a lot when you're in futures and you have to learn to uh, not do that
And you have to learn to take the loss you're wrong quickly and in nq like
You know 10 points is nothing. So
You know your stop order if you have a 10 point stop order in q you gotta be quick
Because uh, it'll stop you out very quickly
I would suggest if you're new at this that you should trade
M. E. S. Or with the little es
computers
they're um
You know that they're smaller contracts and there's a little less risk
So scale to those also
Yeah, I think that's that's a great point frank reminding people that
You know when you're looking say you're looking at es and nq
and es es when you know one contract when it moves that's going to be
One point is fifty dollars nq one point twenty dollars. Okay, and nq moves quickly
All right, and when you look in you when you look at these evaluations
That we have uh that we're offering you we will tell you how many
Positions that specific evaluation allows right and and notice that there's the full size
Right, but then you can also do micros
Okay, micros is a great way to start learning how to trade the futures market
All right, it's going to be one tenth the size
Of a full-size contract. So in es
Where it's one point is fifty dollars if you trade the m es
Right a micro es contract. It's only five dollars per point
Conversely nq twenty dollars per point you're going to get
Two dollars per point trading m nq
I think these are really great frank was talking a little about a little bit earlier how he's scaling in and out
You know when you start to really develop your process and you are learning how to trade that market, you know up
Up up your up your trade size up your positions
Okay, sometimes people will sit there and say oh, I don't like trading
A lot of micros because of the fees involved right you are getting you know, there's there's market fees
Each way when you're trading these contracts
But the flexibility in being able to scale in and out of your trade
I think is priceless for really helping a trader develop
Um their ability to be patient and let a
trade play out right you can jump in there with
16 m es and let that thing move
That then at that first level it hits you take off 10
And leave an additional six m es because you think that that thing could run a little bit further
If it reaches your next big target
Well peel off three four five more and leave one final runner because hey, you don't know
Right your your job as a trader is not to capture
Every move that the market has that is a losing game
Okay, your job is to take pieces and parts of that market
Out because it's going to give you multiple opportunities every day and you yeah, absolutely
And as as the market as the market moves
The charts change so you have to keep on every every few minutes looking at the charts and seeing
How they how they change and where your supply and demand is and where your support and resistance are
Where the daily ema is and stuff like that like i'm scanning back and forth while i'm talking
you know and uh
Any time you have to pull the trigger and there's going to be drawdowns. So like when you enter a position
It's going to go right on you, you know immediately and you have to be patient
But you have to know when you're right and you're wrong. So the difference between
Acknowledging when you're when your thesis is wrong and and bailing out is very important
It'll definitely take you for a ride if you don't watch it
Because things can change very quickly
Exactly. I think you know to expand on that very important, right and this this sounds funny
But it's like as a trader
You have to identify your risk
You have to
You know lose quickly and you have to be comfortable with that loss
Okay, this is going to happen. You're not going to have a hundred percent win rate
You can't and you can't let that loss knock you out and turn your mind frame negative
You have to stay in the game. You have to keep your eye on the market and
learning that okay, maybe your
Your entry wasn't as optimal as it should be
Maybe you should have waited till it came down another three to five points and that's more of a stronger level and get in there
Okay, it just it sounds weird saying you have to be a good loser, right?
But what it is is it means you have to be comfortable with that loss
You have to be comfortable with taking a loss
So it doesn't play with your mind game and it keeps you in the right frame of mind for trading the market
Right like right now like i'm looking at the five minute it looks like uh, like it may be doing a little bull flag
But we have lower highs. So like
My figure even even though I my thesis is short like i'll let this thing loose
If it doesn't work out here in the next few minutes
You know i'll cover these shorts
Really well put hey, I want to also get nate in here because nate
I know that I think you're a little newer to the futures game than some of the others
Uh curious, you know as someone in more of those beginning stages
What are some of the things you think are helpful for people to know or maybe some of the questions you would have?
Yeah, I appreciate you having me on with these guys because uh, it is a great communities
I mean definitely shout out to everybody up here talk to almost everyone and uh, they've all been super helpful. I am you know
I've always traded options
common stock as well, but you know focus on options and uh, I just recently started looking into
trading futures and
the you know, one thing I
Really enjoy about it is I really you know, you know me
I'm a technical trader focus on the charts and futures, you know allows you to really just hone in
On the charts not worried about the greeks and everything else that comes with options
Um, and then it's just a little bit different animal
And so i'm just dipping my toes and appreciate everybody again up here
Um on the panel that's that's been helpful with answering questions and I don't know if you guys went over it
With respect to if you already did don't worry about going back over it
But one thing that I think is is definitely worth
Spending some time studying is if you're getting into doing one of these evaluations
um, just understand how it all works with respect to you know, the the max loss and the profit targets because
Um, it's set up in my opinion
excellent from a standpoint of helping you
recognize how important risk management is in futures trading and so, you know, you don't have a lot of room for uh,
Yoloing I guess is the best way to put it right? There's no yoloing here. So, um
Yeah, for for that I would just say that you know if elite trading here has
Um any comments on how you guys have that set up if you haven't gone over already
Um, that would be great to walk through. Otherwise, definitely check that information out. That's what I would tell anybody else
That's what i'm finding is the most uh important to understand alongside, you know, obviously just
Understanding what each tick represents is dollar wise and and understand how to manage your risk and all of that
But yeah, if you could that'd be great to get into some of
Uh the parameters around the evaluation phase
Yeah, no, thank you nate, I um, thank you for that, you know question, I think it is very important
You know you nailed it that
Evaluations are are here to help you work to learn how to trade and to become a better trader
Right learning about risk management risk management is key
Evaluations aren't set up for yellowing
Sure, you can treat it as yellowing
But then you're just going to be burning through money and then why aren't you just you know doing that on the side?
Just throw in that money if you think that you have your your idea perfected
Well, then just go to a regular broker and burn that money up
Well, that's not a way to really become a better trader
Evaluations and the products we offer are here to help you become a better trader
Our end goal at elite trader funding is to get you to that next level
Get into an elite sim funded account where you're earning payout
All right, get to that next level once you have really got that process down
Come come be a part of the live market. We will help you on that next transition
Right. This is all a process to becoming a better trader. We want to help you
become a better trader when you
Trade well that benefits not only yourself, but it benefits us as well. We will help you get to there
Over this past year listening to our traders
We've changed a lot of our rules that we had in the very beginning. We used to offer an 80 20
Split for our elite sim funded traders
Listening to people talk about that we changed that to do a profit split to a generous 90 10
In favor of the trader. All right, we've also reduced the minimum withdrawal to a hundred dollars
Now you can also we've increased the maximum pay amount by 500 through all the other ones
These are when you pass that evaluation you get into an elite sim funded account
And one of the things that we didn't talk about earlier
Is that with this etf anniversary?
Etf 90 if you pass one evaluation you get one evaluation
This is this is an amazing thing
We have never had this 90 off like this, let alone 90 off with a pass one get one offer
Um, I encourage everyone to go to our website
ETF.fund and read more about this
But I would like to circle back to what nate was talking about earlier
And saying yes when you go to our website and you are trying to figure out which evaluation to purchase
Look at the values of those evaluations. What is the profit target? What is the max drawdown?
Okay, how are the drawdowns work?
All right, and notice I talked about earlier our one-step evaluation. All right, it has an intraday unrealized profit trailing drawdown
What does that mean? That means that okay as the market moves
Your drawdown is going to move as well. This is why we say it's good for scalpers
It's good for people that get in and out because the market's going up right now
It may only move up 12 points, but you're only looking to grab seven of those
So what you think is going to be the top you get out. All right, you're you're trailing drawdown stops
Right, but you're awful have also profited from that. So you're moving along
With your drawdown
Okay, if you are wanting to hold out because you think this market is going to move even more and it goes up
14 points
But then comes back 17 points
well that
That you know unrealized profit trailing drawdown is going to go against you
Okay, the one-step evaluation may not be a good choice for you if that's what the type of trader you are
All right, you may want to look at something like the end of day evaluation
Where we've got a max drawdown, but that's not calculated till the very end of the day
This to this is to allow traders a little bit more freedom into holding on to positions for the bigger move
But if you go to our products page where we have all these evaluations take your time and look at them
Look at what the profit target is. Look at what the max drawdown is
Okay, as you move your way up you're looking at 100k eval you're looking at a 250k eval
The max drawdown and the profit targets change with those
If you need further clarification
Over to the left hand side of each evaluation links to the specifics of that evaluation type and will go into great detail
What exactly covered for that evaluation type?
If you have further questions, please do not hesitate to contact support. We are here to help you
We also have a great discord
Where the moderators and thousands of traders are there to help you with any other questions you may have
so please take advantage of what's going on with this anniversary sale right now and and thank you for listening and being a part
of our second year anniversary
Appreciate it
Well, I'd love the passion there paul definitely goes a long way as well
Nate did you have any other comments on some of what paul shared there?
I love the passing too. No, I appreciate it. And um, appreciate again, everybody up here. They've been super helpful
With getting me knowledgeable on future straining one question to throw back at you
I'm looking at the the site now and I see
No, skate. It says no scaling role. Could you explain what that is? Just to make sure i'm clear on that
Yeah, yeah, that's a great question so the no scaling rule is
Okay, we're not going to say that
You know this this eval has a max position of eight, but to start with you can only use two
all right, we want you to
Meet meet this profit target and then we'll let you use four and then when you meet the next profit target
Um, we'll give you access to all eight positions that you originally purchased this evaluation for
What you see?
Max, so say the 50k eval and the one step right has max positions of eight or 80 micros
All right, you get access to that the moment you purchase that evaluation
You do not have to we don't have any arbitrary scaling rule
That says you can't use the full positions of this account. That's what that means
Nice. Thanks
Sure thing
We just have a few minutes left shark heard from you in the beginning lots been shared since
Any other tips or tricks thoughts things that uh beginners, you know, I think uh, I think that um
That the points about the the difference between the micros and the minis was really
Important, especially if you're just getting into futures trading
There's no real reason to mess around with the bigs
You know trading the micros not only you know, as frank said gave you a great opportunity to scale in and out of a position
Um, you know, they really let your your your your dollar work for you
There have been some instances where my last five runners have made almost equal to the amount of my first scale
Right, and I just wouldn't have the ability to be able to do that
Without the option to be able to trade the micro contracts
You're putting on less risk. You can still make, you know decent money on five five micros, you know
Whatever you're you're comfortable with your sizing your risk your account
So, you know, I I think that that's also something important that you don't need to just jump in and say oh, you know
I need to be mr macho tough tough guy
And then trade, you know 3nq or four or four es, you know, take it slow
Get used to how they move
and you can really start to
Get used to you know, the volatility and how you know how they actually pay with with much smaller risk on the micro
so I really um
I really would encourage that and you know, i've been trading for you know, almost, you know over seven years now and I
prefer them
The minis excuse me the micros
Um just for that flexibility
Um, you know and yes people talk about the commissions and the fees and yes, that's true to an extent
But honestly if you're worried about the commissions and the fees you probably have other problems
Exactly sure totally that are right, you know
So I look at my commissions and i'm like, oh, you know, that was a lot
But I mean you're at the end of the day all the matters of the equity curve is in the right direction
But you know, we always talk about in some of other with some of the other great speakers, um that wolf has you know
We talk about, you know watering the flowers and picking the weeds. Well, you know
You know the micros really give you
Excuse me
The micros really give you the opportunity to be able to do that and let your winners really work for you
You know i've been in positions on the bigs, you know a few times i'm like, oh man
I think this still has room but I don't want all this risk still on you know
I wish I could scale half of it
Well, the micros give you a great opportunity and you can you know
If you have 10 locks on you can take off five or you could take off six and then you're just
Just let it run run run and and you can chill and not be so
Yeah, I um
Just to uh, give you guys an update
So I I was like getting close to getting stopped out at uh, my my position. I was short like 67
17 7 67 I covered a third at 17 7 28 and I just covered
uh another third at uh right here at uh 20
Or like 19 and 20. So like I have a third left. I'll keep a tight stop on that
I'm still looking for it to go a little bit lower
And uh, yeah, i'm down to like some a third of my position which was you know
It depends my positions go from 20 to 100
Nq nice nice work
So, let me ask you if I if I were to what account would you recommend because I like to scale in and scale out
If if I were to do to try to get funded
well, you know talking about the
The position size that you are using
You know, there's you probably want to look at one of the bigger accounts, right when you start getting into the 150 k
We're looking at you know, 18 minis or 180 micros
Right. I think looking at the end of day
Evaluation would probably be up your alley
Right, because then you're right, you know, you're looking you've got a daily loss limit with that
But you know, you're looking at your drawdown is calculated at the end of the day
So your big one is you know, okay
Let's just watch the daily loss limit and that what that max drawdown is
I think but I can scale in and scale out you can scale in and scale out to your heart's content, right?
You know for something where you're not having to worry
About these drawdowns and things like that the static evaluation. I i'm a personally a lover of the static evaluations
I want to know where my drawdown is and okay. That is the line in the sand that does not move
Okay, we've got 150 k static eval. That's got a max position of four minis and 40 micros
So maybe you can't put on as many micros, but still you're not worried about this fluctuating drawdown
Hey guys, we just right well right here
So I do have to open up another space, but we obviously are gonna keep these good conversations going in
Big thank you to everyone. That was a part of this. Thank you frank and nate shark evan wreath hanging out
It's docs after dark on here. Paul any final comments before I close this one out
Well, thank you wolf. I appreciate you putting this on this morning. I wanted to remind everyone to just go to etf dot fund
Um, I know some people are wondering about the platforms. We do have trade of eight. We do have
Ninja trader you can do the add-on of trading view with trade of eight. Um, if you're trading
Edge pro x or you're trading quant tower you're trading my
Motive wave we allow those platforms as well
You will you can check all that stuff out, you know when you check out our products what we have available
So thanks for listening in and being a part of our anniversary today
We appreciate that and thank you wolf and thanks to all the speakers. Appreciate it
Thank you, everybody. Thanks. Well, thanks wolf. Have a good one guys. Yep
I'm gonna go open up the tesla space right now everybody. So come join us. That's gonna start in just a
Just a few seconds here