Note: Futures.io has changed to NexusFi since this article was written.
Want great trading training?
Big Mike over at Futures.io has organized a growing library of excellent webinars hosted by experts on niche topics.
The videos tend to be about an hour long and feature everyone from strong traders from the community to outside specialists.
I’ve been a member of the community for 6+ years now and I think it’s the best trading forum out there (by far. by real, real far). Best of all, the webinars are all recorded and posted on YouTube.
Here’s a link to their YouTube channel:
I’ve learned a ton from these videos – they’re basically a chance to listen/watch someone explain a focused aspect of their trading in a lot of detail. That’s something we don’t really get much of these days from individual tweets and 2-minute videos.
Last week, they featured Lance Stranahan (Lancelottrader) talking about his approach to trading the NQ.
It was great for me to see someone who actually trades very similarly to me. We’ve come to the same basic concepts and the same vehicle – but as cool as those similarities are, it’s even more valuable to see the differences.
For example, we’ve got:
- Different approaches to risk. My stops are usually <12 ticks, his are 40 ticks.
- Different approaches to trade frequency (related to above).
- Different approaches to trade timing. I trade the open, he trades about 15-30 mins later, typically.
- He’s got more defined trade setups. This has inspired me to go back to my own trading plan for the first time in a LONG time and really hammer out specific parameters in more clear detail. This will be very helpful in the long run.
Here’s his video:
It’s clear to me that teaching complex ideas (like your trading system) forces you to organize, simplify, and improve the ideas themselves.
That’s why having a trading plan in writing is so useful. It’s even better if you’re forced to present it and teach it to other humans.