Follow my videos (click to go to youtube for sound on) about the daily process of trading the Challenge (20% DISCOUNT here).
I had to obtain +6% in profit just once: this is the main reason for selecting Earn2Trade over the other Funders.
UPDATE: Since October 1st 2020 EUREX isn’t available anymore! 🙁
The second very valid reason being that it’s the only funder offering EUREX and I want to get involved in trading Mini-DAX.
This is by far the best analysis on S&P500 you can obtain: every day and for FREE!
It lasts 20′ and it’s usually done 10′ before US market open, it even gives a trade plan, just tune in on his youtube channel.
If then you like what you see, as I did, you might decide to enrol with his service at Convergenttrading : you are not going to find better levels for futures anywhere else! They also provide an indicator for SierraChart, NinjaTrader and more so all the levels are automatically inserted in your charts and updated daily.
But who is this Futurestrader71? Great question! I haven’t got the answer, but I found a very good interview.
Mini-DAX and ES?
To trade and win the challenge I have to be quite conservative: the allowed risk isn’t very high, so I stick to indexes; in particular the product I know the absolute best which is S&P500.
Why the 150K$ challenge?
I’m aware that this challenge is rather pricey, but I want to have the best chances of succeed, and the larger the account the larger the risk allowed.
What strategy have I used?
First of all the most important bit, the risk plan: I’m going to risk a maximum of 1.5% per day, and aim at making a profit of 0.5 to 1% a day, remaining realistic.
The trade size will be mostly 2 contracts per ES trade (50$ per contract per point), occasionally 4 contracts when the price action allows for a tighter stop loss order.
and 2 contracts for Mini-DAX.
I will use the price levels provided by a third party
by Retailfade, use my own analysis too of course, and especially my indicator.
This indicator clearly displays on the chart the candle where a counter-trend move is about to take place: I hope with my daily posts to be able to show you how efficient it is.
It also displays clearly where the stop loss should go, so it’s fairly simple to define the risk and stay within the limits defined by the Challenge rules.