Hubert Senters here.
Let’s take a look at a question from Gary.
Hubert,
Were you long gold from your pick on Wednesday night?
Gold took a big loss but grains and oil had gains. It is necessary to take all your trades to even out the losses.
However, this is not possible without a huge account. So what is the solution?
Thank you.
Gary.
So when you’re trading futures it doesn’t take massive amount of money to trade futures like it does with stocks.
Now, you could also if you’re going to trade stocks you could trade stock options. You don’t have to. What I do to get around this is a lot of people ask me what my favorites are.
So when I pick a portfolio. Let me walk you through an example. So if I’m doing this basket of trades like you can see right here under New Longs, Gold, Lean Hogs.
AIG, CSX, DHR all of this right here like most of them went up from the calls. A few of them did not that’s why you stop loss is.
And heads up, I can stop on all kinds of stuff all the time. It’s just the process of trading. If you have a smaller account how do you handle that?
You can do one or two three things. If you’re trading stocks and you’re hit by the day trading pattern rule don’t trade as much but be picky more.
If you’re following my portfolio of stuff that I like I;m alwats building massive amounts of portfolios on the left hand side of my screen and that is just for Tuesdays.
So this a bunch of long. This is all the futures. There’s a swing long, a continuation so I’m going to pick from these and these and then that was tuesdays and then down here was Wednesdays.
If you don’t have a massive account you are kind of force to pick the ones that you like the best. Now, I do it a favor to people who have smaller accounts.
And go hey, what’s your favorite? If I’m looking 15. They’re going to like hey, what’s the best strongest trade that you like?
So for that example let me go back to Gold I’ll recommend and say hey, Gold looks good. It’s fine back above the cloud so I would be bullish Gold.
So on that I would risk an overnight risk of 6 points. And intraday trade would be 3 points. So I wouldn’t get smack to death on that and get absolutely destroyed on a 80 point drop.
Number one always use stops. And then if you have a smaller account it’s going to be up to you to make sure that your asset allocation and your risk reward ratios are on top of things.
I may not have as much risk profile as you. You may not have much risk profile like one is going to risk more money and take more calculated risk.
I myself is pretty conservative. I will take calculated risk but it’s just with money that I set aside for risk. Hopefully that answers your questions.
It doesn’t require you to follow everything that I do. What I’m trying to do is point people to the right direction.
And say hey, Indexes look good. Gold finely flip off a buy signal. Cryptos are going crazy. Grains are going crazy. And I’m trying to keep you away from the stuff that’s going to hurt and wipe your account out.
It’s what I try to do first. First I think like doctors. Do no harm. Here’s where we should focus at. Here’s where we should stay away from.
And then when we say focus like let’s go example for Grains. For Grains so the recommendation was to go. Leave Rough Rice. It’s not really doing anything.
Wheat is not great but all the rest like Bean Oil, Corn, Oats Soy. They were all in good uptrending stocks.
It’s going to be up to you a little bit unless you’re just a subscriber in my inner circle to pick the absolute pick one that you want to go into on the FREE videos.
On the subscriber ones, I meet with subscribers once a week on Tuesday and go here’s what I like, here’s what I don’t like, here’s what I’ve focused on. Hopefully that answers your questions.
I’ve been asked to speak at the Wealth 365 online conference. I’m going to be covering ”How to Find New Trend Trades in Two Simple Steps.” I will HYPERLINK you to the registration form.
Good luck. Hope it helps. See you on the next video.
Hubert.
