Archive for Low-Stakes Trading

Continuing our decade-long and ongoing mission of promoting industry transparency, Episode #6 (which may very well go viral given its content) goes into painstaking detail to share statistical data behind this traders’s S&P market making business.

Using my actual and very modest trading of the last six days – and in all kinds of market rhythms – I share detailed win ratios, intraday performance, and REAL dollars in an attempt to more fully explain the business of providing liquidity in the S&P E-Mini futures marketplace.

Like everything on this and my other sites & publications throughout the last decade, the data is 100% real and fully auditable.

After presenting the statistics, I then walk through a balance of four underlying sequences which include one of the week’s positive outliers, an FOMC trade, a small “mini-outlier” trade to close a day, and a losing Globex session trade.

A few years ago, many know that I publicly shared a full year’s worth of data which was often misconstrued, misinterpreted, and more to say the least. This episode and detailed look behind the last six days will hopefully help “balance the macro with the micro” in putting that data in perspective as we continue to tear down the curtains that too often surround this business.


Categories : Low-Stakes Trading
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Episode #5: Managing the Day

Posted by: Don Miller | Comments (13)

Today’s episode (about 37 minutes long) uses my personal trading of August 5, 2011 to illustrate trade sequence and time of day management from a liquidity provider’s perspective.

I begin by walking through two key sequences where I help provide market liquidity in a thin market, after which I share my personally developed time-of-day management charts which helps me manage my intraday performance.

The two sequences reflected the bulk of the day’s $14,460 gross performance, with lot sizes never exceeding 20 S&P E-Mini contracts in a fairly thin market.

Important Note: Please take note of the important follow-up discussion re: the use of stops in the comments section of this post.

Categories : Low-Stakes Trading
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Episode #4: Chasing the Tail

Posted by: Don Miller | Comments (17)

Today’s episode emphasizes the importance of the “Jellie” trader concept, which is to (1) identify the expected rhythm of the moment, and (2) adapt to it.

 After all, jellyfish have to eat off the environment in which they’re thrust, lest they die.  Here’s more on why we preferred the more flexible ”jellie” species to name our effort vs. the fixed “turtles” of years past.

Today’s “warm up” sequence reflects an early wholesale trade which took into consideration the expected early range and prior day supports, as well as the previous night’s and pre-U.S. opening Globex “tail” tendency.

A reminder that this isn’t mean to “teach” guys and gals … comments are welcome, but please no “Why do you trade this way?” emails.  If you want serious – no B.S. education on how and why I do what I do, that’s what the webinars and live efforts are for!Also, another reminder that high-quality TAD Caps and Polo shirts are availble with 100% of after-cost proceeds going to charity.

Technical Note: You may have to select the “Watch on YouTube” button in the lower right to view the full-screen version.

Categories : Low-Stakes Trading
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Episode #3: Jack Be Nimble

Posted by: Don Miller | Comments (14)

Got about 40 minutes?

Sit back and enjoy Episode #3 which continues our recent small stakes theme, this time using a $160K account and maximum trading sequence size of 60 S&P E-Mini contracts (which as you’ll see was never fully deployed for several reasons).

Action occured during Don’s highly-acclaimed 2011 live Jellie trader training effort, and focuses on several elements oulined in his video course including adjusting to a change in expected market direction, using the NYSE Tick to confirm market action, and emphasizing the use of varied trading sizes to effectively manage risk and make up for the lack of human and market perfection.

Look for additional episodes shortly, including the much-anticipated high stakes action!

Technical Note: You may have to select the “Watch on YouTube” button in the lower right to view the full-screen version.

Categories : Low-Stakes Trading
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While I thought about titling our second episode, “ARGGGGGHHHHH”, I figured I’d instead be a bit more professional and went with “Fishing For Bargains” as I walk through one of my more aggravating trades during this morning’s (2/4/11) Employment Data report release.

Continuing our mission of reality & transparency, today’s wholesale transaction again (1) uses a small account and (2) references a trade sequence that includes one blatant mistake.

As I’ve said before, if I ever DO write that book everyone has been asking for, it will surely be titled, “How I Made Millions Trading the S&Ps by Making Millions of Mistakes”.

Trading After Dark … REAL capital, REAL trades … and of course, REAL mistakes. 

Such a novel concept.

Based on the overwhelming view count of the Pilot episode (2,100 & climbing), it seems it’s a concept that was long overdue.

Categories : Low-Stakes Trading
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In today’s 27 minute pilot episode entitled The Lemonade Stand – Wholesale Trading the FOMC with a Small Account, I recap my thinking during today’s FOMC afternoon action in the context of trading a small $75,000 account.

Please note in recognition of the TAD launch, I’m celebrating with a one-time 15% discount off the Jellie Webinars this week.  Just email me at for the discount.

Categories : Low-Stakes Trading
Comments (7)