Emergency NinjaTrader Hotline: 312-423-2234
August Trader Talk
Introducing a brand new
tool for traders
Sharing and collaborating at FNL is our mission. First, let's thank and give a big shout out to Moderator, Trader, and great guy, Travis H, for putting together a Risk Management Trading Sheet!
The FNL Trade Risk Sheet will help hold our traders accountable on the risk level they should be putting on each trade (3%, 5%, 7% etc of account), when trading multiple contracts- based on account size and max risk per day.
This easy-to-read table should be printed out by every member and referred to when trading. Whether you're trading a $500 account or a much larger account, having a predetermined risk level to dictate number of contracts per trade is critical to success and to avoid over leveraging your trading account.
An example for a $1K account risking 5% of the account on MES:
2pt stop - 5 contracts
3pt stop - 3 contracts
4pt stop - 2 contracts
5pt stop - 2 contracts
6pt stop - 1 contract
7pt stop - 1 contract
8pt stop - 1 contract
9pt stop - 1 contract
10pt stop- 1 contract
11pt stop- 0 contracts
12pt stop- 0 contracts
For current members, you can download this Risk Sheet and use in your trading by clicking the button below.
FNL Trade risk sheet
Is ETH ready to break to the upside?
Ethereum is turning heads as it turns up off a triple-tap from its earliest key support level dating back to early 2021.
- ETH daily overview with a few obvious horizontal key levels marked.
-Also a channel drawn is depicting the possible breakout over the next week.
FNL Magic Dragon
When you see this dragon on your charts, be aware!
Watch for a long position as the Magic Dragon raises its might head high. Wait patiently for retracement to the tongue (10 period EMA) for optimal entry. Set stop just beneath lower back teeth!
Make Trading Fun Again!!!
FNL Updates and Events
Fibonacci Levels at FNL!
FNL is constantly striving to give our traders an edge, by staying abreast of current trends, topics and strategies.
Most traders are familiar with Fibonacci, but did you know you can use the Fibonacci to put levels on your charts?
One of our members has come up with a strategy to use the Fibs as levels. This comes directly from the daily chart and can be place on any time frame.
At FNL, we are developing rules and risk management strategies to trade these levels (all based on math) and welcome you to come check it out!
Keep an eye out for a video on how to put these Fib levels on your charts and watch how the price reats to these levels!
Thanks to Titus from CA for his hard work and diligence!
Trade Well at FNL!
FNL Member Spotlight
Bernie E., TX
- Bernie E.
Where did you grow up?
- Southeast Texas. I started out in the "city" Silsbee TX up until I was 7 or 8 yrs old then my parents decided to move out to the "country", Batson TX which is only about 33 miles away from Silsbee.
Where do you currently live?
- I still reside in the little rural community / small town of Batson TX.
Do you have any children?
- Yes - 2 daughters & 1 son. Oldest daughter is attending second year at Texas State University. Younger daughter & son are both in high school
How long have you been trading?
- About 2.5 years now since Feb 3, 2020 when I subscribed to Trading View. I started out trying to learn on my own for about 5 months then I joined a trading group for a year. I didn't renew my membership and
took a break from trading for about 10 months but would study PA occasionally in my spare time. Prior to all that, I spent many hours in 1993 or so watching PA with my dad (sometimes just trying to stay awake). We had delayed data on free online charts with technical indicators & watched PA from opening bell until close. We'd also listen to the financial news channels. He'd trade options on the OEX S&P 100 and get live quotes & place orders online or over the phone with Fidelity or ETrade. He even bought me a really thick book about technical indicators & chart patterns which I still have somewhere. My dad often talked about being interested in trading the futures market way back then & I'm sure he would love to do it if he were still around today.
What is your favorite trade?
- So far I prefer a basic turnaround trade in a solid uptrend. Typically using a 4/3 or 7/5
Do you have any pets?
- Yes - Dogs & chickens. Plenty of fur babies. A whole pack (11 females & 2 males) of mixed lapdogs of various personalities, colors, etc. Some short hair, long hair, short legs, long legs, floppy & upright ears, straight & curly tails. A good variety and all very sweet. Then I also have my sister's bigger dog Muscles who I adopted after she passed away. I think he's a pit bull mix. He's very friendly but doesn't like UPS delivery trucks rattling down the road or stopping by. He's got a doghouse outside, has short hair, bobbed tail and is very muscular hence the name. I also have a small flock of chickens (as long as I can keep the varmints away from them). 9 young Rhode Island Red hens, 3 older Buff Orpington - 2 hens & 1 rooster.
First thing you'd do if you won the lottery?
- Figure out where to park my winnings to grow them so I could live off the interest etc & share it with family, friends & others.
What is your favorite movie?
- I'm not really a movie or TV watcher.
I'd prefer action adventure, comedy or animated family-friendly stuff. One movie I watched & had a good laugh at years ago is Anger Management. There were some awkwardly laugh out loud funny scenes in that one..
- Anything upbeat is fine by me but in recent years I don't bother to listen to music. I've grown to enjoy talk radio, podcasts & lately interviews & ebooks. Since joining FNL, I've decided to try to focus my listening on trader interviews and other market related podcasts, trading tips etc. Come
to think of it, I likely wouldn't have started trading if I hadn't
been listening to talk radio & heard a lucrative sounding trading commercial.
- I spend a lot of spare time playing with my lapdogs.
I enjoy thinking of market indicator ideas & trying to code them I like trying to container garden but have about decided that raised garden beds may be easier to maintain.
What super power would you love to have?
- I'm not sure it's considered a super power but seeing the future would be great for obvious reasons for trading.
Who is your celebrity look alike?
- That's a tough one. I have no idea?
What is the worst job you have ever had?
- I don't know that I've had a worst job. Working outside in extreme weather - icy cold & wet winters or burning hot summers would be the worst thing that comes to mind.
I've really only ever been a grave digger as far back as on the
weekends while attending junior high school. Prior to that, I recall helping my dad during at least one summer in the oil field - measuring oil levels in storage tanks and greasing pumping units, which was easy & enjoyable work to do.
What is your favorite food?
- Just about anything if i'm hungry. I really can't think of a favorite. I like a variety of things. On the odd time I go out to eat, I'll go to a buffet rather than a menu restaurant any day as I don't like to decide. Chinese, Mexican or American etc buffet. I can find plenty different things to fill up two plates.
What is your dream vehicle?
- Since we're dreaming, I'd like a electric SUV possibly made by Toyota but powered by a magnetic infinite energy engine / motor like you can find in videos on YouTube.
As a kid, what did you want to be when you grew up?
- I never gave it much serious thought, but I guess I'd have wanted to be a programmer. I always enjoyed working with computers in school. In one computer class in high school, we worked in pairs. My buddy would play King's Quest or Space Quest etc games while I would type all the code for our assignments
If you could be any animal which would you be and why?
- I think I'd be a sparrow or other similar small, fast birds because it'd be fun to be able to fly
What makes you unique?
- Well I'm a grave digging, computer code writing, futures trader. That's a fairly unusual combination I'd bet. LOL