The daily max loss. A risk management rule that has a whole lot of opinions surrounding it. I recently made a YouTube video discussing how a futures prop firm eliminated this rule. In sharing my thoughts, I received some interesting comments and wanted to address one in particular as I believe it opened the doors to explain a deeper reasoning for my logic. Whether you are trading stocks, options, future or anything else, considering where/if the daily max loss rule fits into your strategy is a wise choice to make for yourself. There are some lines of logic that do make really good sense on the surface (as the YouTube comment suggests); however, digging a bit further reveals something else that from my experience, many traders lose sight of. Let’s discuss!

Throughout my years as a trader and coach/teacher, I’ve come to discover a very simple (yet very powerful) question. When people ask me one of the most common questions ever, “Should I hold or sell?”, I respond with something that exposes several issues. In this episode I hope to accomplish one of two things. Either you are the person who needs to be, politely, smacked in the face with this question, OR, you can use this question for someone when they ask you “should i hold or sell?”. If you are someone asking this question, then take a few minutes out of your day as I'll give you some valuable information to consider!

If I were forced to give a one word arguement for futures trading, it would be this: flexibility. Futures trading is not a Holy Grail area of the market where you money begins to rain down from the sky; however, it is an area of the financial markets that give a whole lot of flexibility. This flexibilty can be explained via three reasons on why you should at least consider learning more. No worries. I'll give you some practical tips that you can use to both begin to learn about futures and enter into their world in a very risk friendly way! Let's get to it!

Are you thinking of getting into trading or have been struggling? Perhaps you’ve had a form of logic cross your mind via your own thoughts or via the input of someone else that, quite frankly, is really low grade and bad. To be fair, under certain circumstances and contexts, the logic used by some is totally accurate and applicable; however, if you are operating under the proper context of a responsible trader, you’ll be just fine! There are many choices we need to make as day traders and swing traders. In many cases, the majority of the battle is ensuring we are using good logic to think through our decisions. I see the logic I talk about in this video time and time again. It’s bad logic, but it’s very common place among beginner traders and people who (to be blunt), have no idea what they’re talking about. Let’s make sure you are not allowing this bad logic to influence your trading decisions. 

While I can't make a guarantee, I can say there is a high probability you will be faced, at some point in your journey, with the question: should I change my trading platform? Let me be the first to tell you, changing platforms is a hassle. You will do dumb things. I am currently experiencing the hassle right now as I have switched to a new platform to trade futures. This is not the first time I've switched trading platforms; however, it's been a long time since I have done it. I wanted to offer up a few tips and tricks that will make your life easier and more efficient as you go through the transition. I also want to offer up the way in which I am doing all this in a very "risk wise" way. Given you're bound to do dumb things as you learn a new platform, we need to make sure our risk profile isn't way out of sync. Let's talk about it!