The Money Variable Podcast
The Money Variable Podcast takes a fresh, real-world approach to money—diving into how finances shape every part of our personal lives and businesses. From financial trauma, to real estate investing, business growth, life insurance, wealth-building, day trading, and much more. We uncover the financial truths most people never talk about—but everyone needs to know.
The Money Variable Podcast
Series: Day Trading Part 3: Futures Trading & Execution
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Join us for the final episode of our Day Trading Series: Futures Trading & Execution.
This is where it all comes together. We’re breaking down the fundamentals of futures trading and showing you how trades are executed in real time. If you’ve been following the series, this final session will help you connect the dots and move with greater confidence.
Whether you’re just getting started or ready to go deeper, this is an episode you do not want to miss.
Let’s continue solving the equation for financial wellness.
Link to the 'Million Dollar Strategy' e-book:
Hello, everyone, and welcome to the Money Variable Podcast. This is your host, Marjorie E. Roberts, and I am the founder of the Money Variable Nonprofit, where we teach financial literacy, not just the regular checking and savings and credit, but we take a deeper dive into other information that is not readily available. Our mission is to make sure that we provide all of this information to you guys, the community. Now, again, my name is Marjorie Roberts, but I am also the owner of Roberts Mango McVendic Consulting, which is an accounting firm here in the Metro Jackson area. And today I am so excited because we are continuing our series on day trading for the month of March. And I am really excited about this series. And this will, we will actually be wrapping up the series today. And I'm excited about it. So we're talking about futures trading, and we're gonna have a live execution for you guys or execution you know for you guys on today, so you can see how this process works. And I'm excited that we have an amazing guest today, among the best future traders and traders, day traders in the world, Mr. Jawan Washington. But before I let him tell you guys a little bit about himself, this is for educational purposes only. If you have any questions, please reach out to the experts with any questions that you may have. All right, Juwan, let me get you to tell everybody a little bit about yourself.
SPEAKER_01Hello, everyone. I'm Juwan Washington. I'm from Brookhaven, Mississippi. I started investing in stocks in crypto back in 2017. Then I found out about option trading in 2019 and later found out about future trading in 2024, which is what I'll be showing you guys today. I got involved in trading because I just was looking for more freedom, uh, looking for more income. Just a trader make thousands of dollars online from their phone, using Wi-Fi, traveling, and that was just insane to me. That's something that I wanted and looked forward to. And here I am here to teach you guys how to do the same thing. Before that, I also did a lot of um like research and watching videos and reading and just you know, eventually start trading, like paper trading. I highly recommend people to start paper trading before you put your own capital up so you can get a feel on how the market works and how to actually move. So, yeah, so here I am today, guys, is teach you more about trading and how to untrade futures.
SPEAKER_04Oh, I am so excited. This has been an amazing, an amazing series. So um let me just jump on in uh with the questions. Um, so what is a futures contract? So we're talking about futures today. So the only thing that I know about future is one, I know a rapper, but then also number two, the future of what's about to happen. So them the only futures I know. So let me get you to tell us a little bit about, you know, what's a future contract? What is that? What is a future, and then what is a future contract?
SPEAKER_01Oh my god. So the future market, it's it's basically you're trading indices, you can trade um stock indices, you're trading commodities like oil and gold, civil, um, you could trade for it, which is currency, and also Bitcoin, but you can trade all of those markets with futures. Okay, but it's basically a future contract, it's an agreement to buy or sell uh an asset at a specific price on a future date. So okay, yeah, you're not owning an asset, you just basically trading the price movement. That's pretty much what you're doing.
SPEAKER_04Okay, okay. Oh, okay. See, I didn't know that. See, I'm glad I uh asked the question. So, how are our futures different from from options? I know we we've been on the discussion of options, you know, and by someone new like me. I'm like, I don't know the difference between the two of them. So, what is the difference between those two?
SPEAKER_01Uh uh it's a couple of things with futures, you know, you're more so a scapper, like you basically in and out your day trading, you're trading candles. And then with option, you know, you can you can swing option three months, six months, a year. You can have it as far as the as far as the up to two years with option. Where with futures, you know, it's only a 24-hour market. So you have one hour where the market shut down and it opened back up. So like from 5 p.m. central time all the way till four the next day p.m. central time, you can trade futures. But you have that one hour window where you cannot trade. But like I say, with option, is you trade from 8:30 a.m. central time to three o'clock p.m. central time. So that's the window you're able to trade option. So you just with futures and options, just the time different, and then with option, you can, you know, you can hold your contracts for three, six months a year. But futures, you you basically in and out throughout the day.
SPEAKER_04Oh, this is so good. Okay, so what markets offer futures trading?
SPEAKER_01So yeah, I spoke about that. Yeah, so the stock indices like the SP 500, NASDAQ, also commodities like oil and gas, several Forex, which is trading currency, and then I would just I would say crypto, Bitcoin futures. So Bitcoin has a futures market too. So if you're into crypto, you can definitely take advantage of you know trading futures if you you know you like trading Bitcoin, you can based on the Bitcoin movement, you can capitalize off that by trading futures.
SPEAKER_04Okay, okay, now when it comes to futures, why are they considered higher risk than than options?
SPEAKER_01Yeah, because but okay, so with option, well with features is it's a higher level, so you make you can make way more money in like a small time period, and I and I'll show you guys that later on, but um, and then it's fast paced, like it's it's up and down. So you can't handle fast pace or a fast price movement, then features may not be for you. Like if you work at nine to five, features is not for you doing the doing the market out, doing your doing your workout, but you can trade it after 5 p.m. when you get off, or you can trade it at night, you know, you can trade it at 8, 9, 10, 11 p.m. all the way to 3 a.m. And then if you just don't have an inspiration cushion like option, okay. You know, you can lose and make money at your path if you don't know what you're doing.
SPEAKER_04Okay, so now that we have discussed, you know, like the basics of futures, you know, I know we have some listeners who want to try and get started. So how do you open a futures trading account?
SPEAKER_01So you can you can do it in two ways. You can do a you can go through a prop firm, which is you're trading other people's money, something that I do, and a lot of other traders does as well. I also have my live account, which is the money I put up myself. So you have prop firm, you can trade their money and they give you a payout, but you have to go through like evaluation and you can prove you can have to prove that you can trade and you have to get to the payout for them to pay you. Or you can just trade your own money. The way you go about choosing a live account or you know, your personal account, you would choose a broker, and that's think of swim, ninja trader, and like trade of bait. Those are like three main brokers you can go through to apply for future trading. Once you apply, then you you know you go through the whole identification process and the financial process, you know, to get approved. Um, once you get approved, then you fund your account. So yeah, I would highly recommend starting with Prop Farm just to get a feel of it, or you can pay per trade before you put up your real money. Go through the process first so you can be familiar with it.
SPEAKER_04Okay. So, you know, everybody he is the expert, so he has bumped his head and and he's he's done all the mistakes and things, so we won't have to do all the mistakes. Okay. So we are going to follow his lead. Now, I know he mentioned you mentioned some brokerage firms, I believe. Um, are there any that you would recommend for someone who is just getting started?
SPEAKER_01Yeah, Ninja Trader and Trader Bay. The reason why is because so I didn't tell you guys, but it's a commission fee. So each trade, you have to pay a fee. So it can be like anywhere from 15 to 30 cents a trade. With Ninja Trader, their fees are very small. So every trade you take, they're gonna they're gonna take 15 cents on their trade. Now, if you go ahead and just pay for the full um subscription or whatnot, then it may be like a thousand dollars, but you won't have to worry about fees because if you're taking a lot of trades throughout the day and throughout the year, that 15, 10, 15, 30 cent, it adds up. So go ahead and pay if you have it, go ahead and pay subscription out that way.
SPEAKER_04Okay, all right. So now, since you mentioned money, a thousand dollars, you know, um, maybe having a subscription or whatever, whatever. Um, so but how much money should someone realistically start with when it comes to future trading?
SPEAKER_01I recommend anywhere from two to five thousand, you know, but you can start, you can start with a thousand. I mean, you can you can the minimum is five hundred, I believe. So, but I would trade micro, which is a dollar and like twenty-five centy tick. And I I'll show you guys that too. So every tick or every point that it goes up or down, it's only you're only making a losing like a dollar and twenty-five cents each trade when you're trading micro. If you're trading mini, then it's like twelve dollars and like fifty cents. So every so every time it tick, it's gonna charge you, you're gonna make or lose $12.50 if you're trading mini. But if you have a small account, which is a $500 or a thousand dollars account, you're gonna trade micro, meaning that you're trading smaller contracts because you have a small account, you know, or you can you can start with a proper and you know, pay some make charge you like like $100 or like $90, and you can trade $50,000 by only putting up $90. Or you can trade $150k account, which is it's probably like $200. So with the prop firm, each account costs a certain amount because it gives you the capital to trade with $50,000, $100,000, and $150. Start with $25. So $25,000, $50,000, $100, and then $150. So the $25,000 account will probably be around $50. Okay. And then the $50,000 account would be like $90 to $100. Each firm has different numbers, but they put it pretty much similar. And then a hundred thousand dollars account will cost you like uh one fifty and then $150,000 account will cost you around $200. So you can either start with your real money, which is you know the minimum of $500, but I recommend two to five thousand, or you can start with a prop run, you trade with them. But the difference between a prop run and your real money, like whatever money you make on your live account, that's your money. But a prop firm, you have to go through like evaluation to even get paid. So that process is a little bit longer than your your live account.
SPEAKER_04Okay, the yeah, that's that is that's good. That's like a live. Well, I think in the beginning, when you're just hearing information, it could seem that way, but that's just like starting anything new, you know what I'm saying? Is it new to you, so the information is new, but um, I'm sure there are a lot of people who would do very well, you know, and get excited, you know what I'm saying, about it. You know, so I'm excited about that. So, what are common beginner mistakes when it comes to futures?
SPEAKER_01Yeah, overleveraging, like trying to go too hard too fast, putting buying too many contracts, no stop loss. You want to with futures, you want to have your stop loss in place. I would say and like revenge trading, like trying to get your losses back. So you you lost two two to three hundred and you're trying to get it back immediately, but it's like no, just wait on the market to come to you, trade your setup, and then it'll go your way, you know. So, and then not understanding charting, not understanding ticks, not understanding how everything works, those are these mistakes.
SPEAKER_04Yeah, okay. So now again, he has experienced mistakes, so we don't we don't have to experience them. You know what I'm saying? We gotta we got a mentor, we got a teacher right here. You know, I don't I don't have to bump my head if I don't watch somebody else bump their. You know what I'm saying? Okay, what percentage of an account should be rich per trade? Did we discuss that already?
SPEAKER_01We we I think we did, but let's say, like let's say you have a a $2,000 account. Okay, you should be only trading one to two micro. Maybe three, but you should you shouldn't be trading a lot of contracts because you have a small account. You know, that 2,000, it seems like a lot when it's in the market, but the way futures move when it candles, you'll be down two or three hundred dollars if you over-leverage. So I I highly recommend, you know, starting with a couple of contracts on micro, which is MES, and and just trade that and just continue to build.
SPEAKER_04Okay, that that's that makes plenty of sense. So, how do you protect you know your capital during losing streaks, as they say?
SPEAKER_01How do you protect the capital? Oh, setting your stop loss, say uh not going, not going too heavy, not buying too many contracts. And once you hit once you hit your goal for today, just shut it down, just be done. You know, like you know, it's it's like you may make a thousand dollars before 9 a.m. or you know, 10 a.m. And you got the rest of the day to yourself, and you're just like, man, I want to go back in and make some more money. And it's like, no, like it's gonna be more opportunities the following day. So don't, you know, don't overtrade just because you have a lot of time on your hand, just because you're bored and you just want to do something. I said, nah, just stick to your goal, be consistent, and just come back tomorrow and just and compound every day. Hit your goal and just compound. Um, no different and it just no different. It's vibrative with your stuff with your losses. If your loss is $500 a day, shut it down, go eat, come back, you know, see what's going on, but don't force it, don't force a trade because you're gonna catch yourself in an easehole and keep you know, keep trying to like make the money back.
SPEAKER_04Yeah, okay. So, what separates consistently profitable traders from unsuccessful ones?
SPEAKER_01So, a consistent trader is someone that sticks to their plan and their rule, regardless of what the market does, regardless of what the market shows, they're gonna make their goal for today, and they're not they're not gonna trade every day. Like, I think beginner traders or like unexperienced traders, they try to trade every day. Me, I may look at the market every day, but I I may not necessarily like trade every day. Like some days I may go shopping, some like window shopping, like I may see what's what's going on sale, okay? If stock is on sale, okay, whatever. I know we're talking about futures right now, but it's the same thing with with the stocks. Like it's like, okay, let me wait on it to get us at a certain level before I even get in and like and wait on it. You know, the market, let the market come to you. Like, don't force trade, don't force into it. And experienced traders, they're very disciplined. Like, you know, they regardless, they're not distracted by the news, they're not distracted by social media, no outside noise. Like, if you if you let the outside noise get to you, then you're gonna make a lot of mistakes. I have people that come to me like, look at this style, look at that, look at this, look at that. This happened. President said this, and I'm like, yo, like, like cut it off, like stop. Like I've been down that rabbit hole before. All they're doing is just putting a hairline out there to feel you out, and then before you know it, you done sold, or or you're panicking, and you're not buying the dip, or you're not investing, and you're just kind of afraid. Oh, the market's gonna drop, and stuff like that. If you look at the market and you really know how it works, the billionaire they they buy the dip. Like whenever anytime something like the headlines are going on now, they're gonna buy, they're gonna buy low, and then it's gonna go back up, you know, and then you're gonna be freaking out or upset because you sold, you know, you liquidated. Yeah, so that's that's that's no different from any other tragic situations or thing happened in the past. They buy the deal, and then the stock market, before you know it goes even higher. They come down, they put something out there on the headline, everybody panic, it comes down. Guess what? They're buying, and it just keeps going up and up and up. And you but you worried about what the news is saying, and you in comments and you're on tick tock and you're looking at all this stuff, and you can't sleep at night because that's wild.
SPEAKER_04Okay, so I am so excited for this next step. He's gonna do a demonstration for us, yeah. I'm excited about it. I am really excited as you are walking us through. Will we we'll be able to see like micro and mini and stuff like that? Okay, then all right.
SPEAKER_01I can show that. Yeah, I can get it okay.
SPEAKER_04Great.
SPEAKER_01You you ready for me to show now?
SPEAKER_02Yeah, yeah.
SPEAKER_01Okay.
SPEAKER_00All right, let's dive into it.
SPEAKER_01So this right here is this is um this is I'm trading my micros on here, which is mes. Okay, if I wanted to trade mini, I would go here and I would type in ES. So this is mini, okay, and then you want to choose uh June expiration because uh this is the later the latest data. Okay, can you see my screen?
SPEAKER_04Okay, so I can see your screen, but for the people who will be watching this and who Have not actually done this before, what are they looking at? So what is what platform are you in, and what exactly you know will they be looking at here?
SPEAKER_01This is Trading View. So this is a software where you basically get charted. Okay. Now I have my broker connected to this platform. So whatever I do on this chart, it's gonna go through my broker where I make my money at. Oh I'm just I'm using this to make my trades and to analyze, analyze what's going on in the market. So in order for me to make money, I need to predict what's going to happen. If I want to make money when the market goes up, then I'm gonna get in calls. Okay, and once I get in, you still you'll see the money pop up, you know. Then it'll look, but it goes through my it's go through my broker where that's where they pay me. Okay, yeah, and then that's yeah, so that's this is mini. And then this is so let me just show you the price difference. Okay, and this is a real account too, guys. So it's not it's not paper trade. I told whatever I make or lose, it's on live. I just want to be, I just want to show live trade. I don't I don't want a paper trade. All right, so I see this kind of going down. Let's see, let me see what's see what the see what the market looking like. Look like the market is like the market is going down. Okay, so I hit sale, okay. You see that? See, I'm that's $12 and 50 cents a move. Yeah, so right now I'm down, so I'm up $37, $62, $75 in like second, like right now. I'm up. This is real money. I'm $137, $162, $225. So just like that, okay, and I'm out. I can get out. So that what I just did at a scattering. I just made $200 and some dollars in like two, three seconds.
SPEAKER_02Yeah.
SPEAKER_01So that's like somebody two days at work.
SPEAKER_04Like, yeah. Some people that's a week worth of check.
SPEAKER_01Yeah. And you know, it's it's uh, and you know, not to knock anyone, but it's just you can do this in line is true, so you can do the same thing, you know what I mean? And so that's that's yes, that's mini. So let me show you how micro move. Okay, you want to go to micro, then you want to choose June. Okay, it's the same thing, it's just cheaper. Okay, so let's so let me pick. So I'm gonna get one contract on here for you to just see how it moved. Let's see, you probably get a little bounce here. You have some support level, the light or it may even come down. I'm gonna get I'm gonna get a buy because I want to buy on this, I want it to go up. Like you see, it's a dollar and 25 cents. Yeah, down five dollars, three dollars. So, this someone with a small account, you would trade this. Someone with a large account, if you want to, you can trade yes. I like to trade ES and MES because it moves with the SP 500, which is spy. So, whatever the SP 500 is doing, because I trade stock and option, I go in futures and I just mirror it. I just trade, I just trade the same way. Yeah, that's kind of how now I can trade, I can trade or I can trade civil, I can trade coffee beans, I can trade, I can go trade a crypto market, but this is what I like to trade because I trade spy, I trade spy, I trade the SP 500, so I'm familiar with how it moves, and I'm familiar with so you just trade whatever you're comfortable with, you know. You don't have to trade everything, but you see now I'm up ten dollars. I'm up so honestly, I can get out like now, so I can either put like a sale here, so once it hit my target, once it hit here, it's gonna take me out, or I can just manually set it. Yeah, so if I want to set a stop loss, I can set it under here, and then so if this candle comes down, it'll stop me out. I can't lose no more. So I just okay, I just made $15. So since we've been talking, I made total like $250. Just on just this move, one move right here.
SPEAKER_02Right, right.
SPEAKER_01And that's how and it haven't been 10 minutes, five minutes. So I can be done for today. But for me, that's that's kind of like wiki numbers to me. Like, I like to make it like at least $2,000. So like just how that went down, I could have I could have answered here and then played it back down. But that's called scalping. When you asked me earlier what is scapping, that's that is scapping.
SPEAKER_04Oh, this is good, and also one other thing, like that's on the one-minute time frame.
SPEAKER_01This is the five-minute time, this is the 15-minute, so each time frame has a different story. Okay, so you notice that so let's so you see how the candles are changing?
SPEAKER_02Mm-hmm.
SPEAKER_01So this is the four hours. So every four hours is the time right here on the on the right-hand corner. An hour and 24 minutes left for this candle for it to form another candle. Okay, on one hour, you have 24 minutes for this candle to either close below or close higher and continue up, or you know, go down to the next, go down to the next support level. And then this is 30 minutes. So it's 24 minutes, okay, 15 minutes, five minutes. You see, everything is different. These this small these candles here that you're looking at is inside of this candle right here. Yeah, if you're trading, you can't see it because you're on a higher time frame. Oh, yeah, you have to go down to a smaller time frame so you can see the smaller candles. See, like all these little candles, yeah, so one minute. So one minute, one minute. Each candle is one minute, but when you go to a uh one hour, you just see one hour work for candles. You go to a four hour, you see it's different. If you go to a daily, see the daily, this is this whole candle here. One day work for buying and selling. Well, selling it's sold off one day 24 hours. Wow, yeah, 15 minutes. This is how it looks. So, but like I say, when you're trading futures, you can't use higher time frame to enter because you need to see these smaller moves that's happening.
SPEAKER_02Yeah, a lot of people don't know that.
SPEAKER_01Like somebody that's trading would have probably entered on one hour, but you don't, you're not really like it's called snipe. We call it sniper, you're not really sniping because you're not getting in right on the head, you know.
SPEAKER_00Right, yeah, so um, yeah, for me.
SPEAKER_04This is exciting. So, how long do you trade throughout the day? What's your norm, or do you have a norm?
SPEAKER_01So I don't like I don't like to trade at the market open, which is 8:30 for and I like to trade New York time. So you have London time, Asian time. I like to trade New York time because it's just more volume. But I would say I like to trade like 9, 9:30. Because what happened is when the market opened, it it's trying to choose a direction. So either gonna go up or down, you have the boards in the barrel fighting it out. But as you can see, like today is pretty choppy. Because it's Friday. You see, this is this is choppy, like it's a lot of choppy. I think I spoke on that just a few minutes ago, but this is choppy. Like it is this is you don't want to trade, you don't want to get caught up in this here. Not a clear move, it's just like up and up. You get exhausted just watching it. So you just wait on just it try to break out up here, like it's try to break out, but it came right back down. So what it's doing now is back at support, which is just the white line that I set. So it's back at support, and it's probably gonna go right back up and then come back down and go back up. We may get about maybe like maybe like 12 or 1 p.m. central time, because that is uh right now it's kind of it's lunchtime. So the market, and I spoke about this in the ebook, like time zones and and and reversal time matters. So right now, lunchtime. So not a lot of active traders are in the market. But you but then you come back power hour, which be after lunch, then you would have more traders into the market. Right now, people are kind of like taking a break, eating lunch, having talk, maybe on a third cup of coffee. Uh so yeah, that's how it works.
SPEAKER_04Ah okay, so so let me ask you a question. When should you sit out and not trade? So, what is what are the indicators of that?
SPEAKER_01This right here, choppy sideways. So, like if you okay, let me show you. Okay, so you see this move up up here at the top. Okay, you see, like it has it has a move all the way down, like it's it's it's a move going down. There's no chop here, it's just going down. I mean, it's there's where it went up and then came back down, but it's the clear move. You can make money. This right here, you can make money on it, right now. Or as this here, it just is lost, and it's just like up down, up, down, up, down, up, down, and it tried to break out, but it came back down. So this would be considered choppy and sideways because it's not going right here. It's it's it needs to do this here, it need to look like this, and then it needed like break and go up, but it didn't, it came back down right here. It came back down. So now you're like, okay, I'm thinking it's gonna break out. No, it came back down. So right now, guess what? Choppy, choppy, choppy.
SPEAKER_02Yeah, yeah.
SPEAKER_01It's um it's you know, back down it's at the support level, but it's not breaking below, so they let you know that it's strong, it's just it's just not ready to break out yet. But if it broke below this line here, then we have to find out which is the next support. Okay, and then in order to do that, you just go to like the higher time frame and just and just see when well, this don't have a lot of data because it's just June, these are June um futures. So but you can see like on each time frame, like on the four-hour support, on the one-hour support, on the 30-minute support, like it's it's just holding, yeah. So this is why I would enter calls and just wait on it to break out. Yeah, ooh, or you know, like another thing, you you know, you sit out like at the emotional, like this is draining, you like man, it's taking forever. You know, again, you have to know with what time that you're trading on, you know, take a break, or you know, if you hit your hit your daily loss, or hit your stop loss, just take a break and come back. The market is not going anywhere, you know. But to you just sitting at the desk all day and just trying to force a move.
SPEAKER_04Yeah, yeah. It's not gonna do in your favor, but you know, that's that's good, that's wisdom, you know. That's wisdom, and I mean, not just in in trading, but in life. Come back to it, yeah, yeah. Come back to it, it's gonna be there, it's still gonna be there. Come back to it.
SPEAKER_01Let me see. We can make one more trade, and I'm gonna show you guys the power.
SPEAKER_04Okay.
SPEAKER_01So, like now, okay. So, also like what I like to do too, I like to analyze, I like to chart, I like to kind of map everything out. So, this line here is a trend line. So, every time it hit this line, you reject, it comes down. So, this is called a down trend line.
SPEAKER_00So, you have a lower, lower low, lower high, lower low.
SPEAKER_01So, this is gonna come back up, come back down, and then come back up. As long as it stays below the trend line, it's gonna continue to trend down. Okay, the moment it breaks above, it is no longer in a downtrend because it broke above the trend line. So, that's why I say the trend is your friend. Yeah, you gotta respect the trend line. I mean, it's pretty obvious. It's like if you like, let's say you got in call, let's say you got in buys here, and then you and then you voted all the way up. Well, you can get out because you don't know if it's gonna break and go higher, but you see that it came down. So if you would have stayed in your position, now you're back losing money because you got out here, so now we're waiting on the same thing to happen here, waiting on support to go back up, but you have to go to like a higher time frame to see to see what's going on. You can't just blindly hop in because the counter's moving. You need to analyze some kind of technical analysis, you need to analyze what's going on so you can make the best decision to make money. That's what we're here for to make money.
SPEAKER_04Oh, yeah. Oh yeah, absolutely.
SPEAKER_01So um, we'll probably take okay. So, I'm gonna probably add like five. I'm just gonna just do this.
SPEAKER_00I'm gonna just do um, let's see what the market. Um probably gonna go right back to the 6604. Um, this candle has 10 seconds.
SPEAKER_01So let's see what happened with this candle. So five or three minutes, another candle is gonna go. Let's see. Okay, so you see that next candle just popped up.
SPEAKER_02Mm-hmm.
SPEAKER_01Yeah, all right. So every minute, because I'm on a one-minute time frame, every minute another candle's gonna form. If I go to a five-minute, this candle here has three minutes and 45 seconds. So, you know, but it's probably gonna continue to go up. Yeah, you want to look at the pop firm?
SPEAKER_04Yes, please.
SPEAKER_01I said I was gonna make a trade first, uh honestly.
SPEAKER_04Okay.
SPEAKER_00Let's see, let me put the indicators back up. This is in the trend. Okay, it's in the downtrend.
SPEAKER_01Okay, I'm gonna take a sale. So I'm in sales, so I want the market, I want it to go down, and then I can set my TP, which is my take profit right here, and then I can set my stop loss above. So if this counter goes up and hit, then they're gonna stop me out. So I only can lose that amount of money. But if I if they come down, if they now make it say right now, I'm up I'm up $18, $25, $31. Now I'm trading, now I'm trading um trading micro. I'm trading five. I have five micros right here.
SPEAKER_02Okay.
SPEAKER_01If I wanted to add, I would just go to sell. Like I want to add five more. I just go here. Now I'm in ten. And then I can just change this to ten. And then I gotta change this to ten because this is my stop loss. So let's see how much money we can make right quick. 68.
SPEAKER_00Let's see if it's gonna drop. I could have got out, but I think it's gonna come down. Let's see, let's see, let's see. $56. I think it's gonna I think it's gonna make I think it's gonna hit $81.
SPEAKER_01Okay, but I'm out. So that was probably like a hundred dollars. Then I can just hit that out. So today it's like $300 some dollars. I could just be done, but I just wanted to show you guys, like, all right, we but I'm just trading one candle. That's what I was talking about, like fast pace, yeah, and fast movement. That one that one candle, like like it could have dropped all the way down, but you gotta be careful with the futures.
SPEAKER_02Yeah, yeah.
SPEAKER_00Let's see. So let me pull up a pop, and let me just pull up one. Uh just okay.
SPEAKER_01Okay. This is um this is my funded feature. This is one of the pop firms where you can go in and basically buy an account. So you have a $25,000 account, you have a $50,000, $150,000. So right now, one account is on sales, or one account is gonna cost you $114 for a $50k account. The first part is called evaluation, meaning you have it's called eval, you have to pass, which is a three thousand dollar target. You have to pass before um, you have to pass, and then once you pass, then they fund you. So now you're trading real money, okay? But you have to pass first. To get three thousand, you have to make three thousand dollars. Okay, if you hit the max slowdown, which is two thousand, if you lose two thousand dollars in a day, you blow the account. You have to start over. Okay, and then um once you pass, then you uh you start making money. Once you get above your buffer, which is uh it'll be two thousand. You start you can get a payout. So for this account here, uh you get a payout bi-weekly. Okay, for a rapid, you get a payout daily, and for flex, you get a payout weekly. So every five days, you get a payout. Every two weeks you get a payout, and then for the um rapid, you get a daily payout. So whatever you make in a day, you get a payout. You can you can request a payout, but this is trading other people's money for you to make. If you don't have $2,000 to start with, you see it's only $114. But you just gotta pass to get the payout. So for those that you know want to get into futures and like don't have two, three thousand to start, I recommend starting with a pop firm. Invest $100, store one account, get a 50k account if you can, and just pass. And then once you pass, you start making money in your funded account to start getting payout. $500. I've seen well, I've I've gotten one pop firm, I've gotten $60,000 payout. Another um pop firm, take profit trader. I got over like uh close to like $18,000 payout. Um and then Apex, I got a I got I got a payout with Apex. It was small, it was like six thousand dollars. So like you can you can you can get like five accounts with apex, you can get the three accounts. So that like that trade I was showing you guys, one trade would trade all the accounts for you if you do copy trading. So you do copy trading, you can trade all accounts across all firms. That way you won't be trading this account, that account, that account, that account. No, one trade is gonna trade all of your your um your pop firm.
SPEAKER_04So okay, so so since you mentioned that when uh the copy, so that's for the the same trade, right? So if that trade is on other platforms, it will do that for all the same trade on all platforms. I just want to clarify that.
SPEAKER_01Yeah, so yeah, if you you can it's called copy trading, so you connect, so you log into your bulb on the ninja trader. So you log into ninja trader and you connect all your firm. You can connect however many you have, you can have up to I think 120. Okay, so imagine imagine like getting a payout. Let's say let's say you get a payout for 2500 from each one, each account, you have 120, that's $300,000 of payout. Or if you have if you have 10 accounts, you know what I mean? Like if you have uh 10 accounts and you know that's 25,000, if you put you know, 2500 payouts for each one, yeah. That's 25k, and that's every week. If you if you hit your numbers and you and you get to your target, you can get it every week, or you can get it every day. You know, you can get it by weekly, depending on which one you go with. I haven't got to them type of numbers yet, but it's coming. So yeah, I want to be able to make 300,000 every week, yeah, or 100k every week.
SPEAKER_04But you you finna get there, it ain't gonna take you long.
SPEAKER_01Yeah, yeah, so yep, so that's I know that's that's different between a live account partner, future trading, and you know, but oh this is I love these.
SPEAKER_04Oh okay, so let's let's talk about this. If someone was brand new, where should they start?
SPEAKER_01So I I highly recommend starting with a with a prop firm, my funding features. Um, and I'm not trying to advertise them, they've just been a lot been around for a long time. Apex, it's good, and I would say take profit trader, top step, those are good firms that'll pay you, you know, because they they've been around a long time. I was starting, I would start there. Um first you need mentorship. That's the first thing. Right, right. You need, yeah, we because we ain't just trying to just give away money and lose money. We're trying to make money. So like don't go through them headache, like get a mentor myself, and let me show you. Let me hold your hand, let me walk you through it, kind of just like how I did. Like, just make that money just then, and like I can say, hey, get in, get out, or whatever, and do we can go live, like you know, how we're doing now. Like, you can go live and I can walk you through it. Um, you don't have to, you don't have to like you know, figure it out on your own, you know. So I would definitely start with a mentor, and then I would start with a pop friend if you want to get into futures. Um, options is a good thing too. You see, okay, you remember I told you that support level, right? You see that it's going up. Like we could have got in, we could have got in and made just made money. But I just wanted to let you know, like this is a strong support level, so yeah, it's gonna it's gonna bounce for that one candle, we could have made us like three to five hundred dollars in how many content because then we'd have been close to a thousand less than an hour, yeah. Um I may make one more trade. You can ask me, you can ask me something and probably make one more trade while we okay.
SPEAKER_04So while you were working on that trade, let me ask you a question. So uh the mindset shift, what what is the number one mindset shift um that's needed, you know, in order for for people to succeed uh concerning trading and not just the futures, but you know, in this day trading arena, what a mindset you know should people have when this is something that they want to get into?
SPEAKER_01I would say you can't you can't be fearful, like you cannot like say the market, you have to be confident, you know, because if you're not, you're just gonna keep getting out, getting out, getting out, or you're not gonna take trade. You're gonna okay, I'm on wait, I'm scared. It's kind of like you know, you're in and out. So you have to you have to be confident, and that's in order to be confident, you need to know what you're looking at. You need to be familiar with the platform, you need to be familiar with with trading, charting. The more you know, this the more you just kind of get confident. That's that's for anything. And then two, I would say the mindset, like you just had a rough week, or you're arguing and you, you know, you're going back and forth with people, and you you know, it's it's not gonna, it's not gonna end, it's not gonna end well. It's just it's just the psychology of it, you know. And then I would say three, which is very important that people don't think about like your financial situation. Like, don't go into the market with very minimum trying to come up or trying to uh supply your lifestyle. Like, don't don't do that. Like if you depend on the market to pay and and and take your pay for your flights and you to go traveling, it's not gonna end well. If you depend on the market to keep your lights on, and don't go into the market trying to come up. Go into the market, use your skill, like trade your setup, and just be consistent. Don't because it's like I gotta get this payout because I don't have no money, or I or I gotta make money now because I need it by next Friday to go on the trip, man. Cancel that trip. Like I'm telling you, because you're gonna catch yourself in a deeper hole, like trying to depend on the market to pay for your lifestyle. No sense, no man.
SPEAKER_04Yeah, yeah. So let me add something. You had mentioned earlier, you know, about people being hesitant that they might, you know, lose money and stuff like that. But let me let me say this we tend to spend more money on certain things like going out to eat and other miscellaneous items that we could use to be trading. So and and we don't even realize that we are we are doing that, but it ends up being a lot of money by the end of the month. But a lot of times it's just habit and we're not budgeting and and adding up what we're actually spending, but that money can be used to do some day trading.
SPEAKER_01Yeah, yeah, you're absolutely correct, man. You can like you eating out, you eating out three, three times, four times a week, um, and I'm telling how many times a day, uh, and then you clubbing, you're going out, and nothing wrong with having a good time, but like use the market for your like to pay for your expenses, like use the market, like if you make a couple hundred dollars, okay, use that money to pay for whatever you need to pay for. But like I'm in Houston, Texas, so if you depending on where you go, you gotta pay for parking, okay, and then you know, you're paying the high prices on whatever. Uh you you gotta tilt, or most times you tilt, and then after that, okay, you may go to another spot. Or you may do it to fall in the day, right? When before you know it, like you can spent five hundred dollars in two weeks by just eating out and going out and drinking or whatever you're doing. Take that money and invest and let the and let the profit from the investment pay for that. You know? So uh that's that's that's my advice. Like that's what I would do. Um because you people say I don't have it, you have it, it's just not what you want to spend it on. Like you have it when it's time to go out and go shopping or take a trip, like you have it, then like you do whatever you have to do to make sure you get done. So it's more so like you know, it's it's based on what you want to do. You make it happen.
SPEAKER_04Oh, this is good. This is good. Okay, so as we are wrapping up, tell everybody how how they can follow you and get in contact with you.
SPEAKER_01Yeah, you can definitely um follow me on Instagram, um, Mr. Washington underscore. And then my business page is me now strategy underscore. Uh my Facebook is Jawanna Washington, J-E-W-A-U-N Washington, also in TikTok. So, you know, you can find me on social media, those social media outlet, my email, jawanawashington at gmail.com and just reach out. So, yeah.
SPEAKER_04Okay, so also let's talk about the book. Now, this is one of the main things. Where can our listeners purchase purchase your book?
SPEAKER_01Yeah, you can you can purchase the book on my Instagram, Mr. Washington underscore link in my bio. You can go on gumroad and you type in the golden pattern um for traders. Um my my Facebook, it's on my Facebook money variable, has it on their platform as well. And yeah, and so all y'all have to give, I have to give you that discount code. So if you've all been following the the series, you get a discount on the ebook.
SPEAKER_02So and then and then I do one other thing too.
SPEAKER_01We can we can pick a winner where I give away one ebook based on yeah, based on whatever, however you want to do it. Maybe if someone answer a question from one of the videos or you know, like I don't know, however you want to do it, or if you want to do it with someone in your community that's into investing, that would be great too. So I send you a copy there and you can you can share it, or however you want to do it.
SPEAKER_04Okay, that'd be good. Yeah, I like I like the the fact of the the giveaway, and I think it would be good for our listeners, you know, to be able to answer a question you know from the video. I think that would be that would be good.
SPEAKER_01Yeah, yeah, yeah. Yep, however you however you set it up. Let's let's do it.
SPEAKER_04Okay, all right. Well, thank you so very much for being our amazing guest here on the money variable podcast. And I I hate to see this series come to an end. Yeah, but you know, all good things. Well, some good things, but you know, hey, we can always pick back up with any when other people have questions and things of that nature. But I am so excited and so thankful for you, Mr. Jawan Washington, for joining the Money Variable Podcast. And again, my name is Marjorie E. Roberts. I am the owner of Roberts Mangam and Bennett Consulting. You can reach me at 769-247-4400, or you can call 901-500-3272, and you can also reach me at www.robertsmangumbennett.com, which is my website. And thank you so much to our audience for joining us. We appreciate you guys, and we will see you next time. Bye, everybody.
SPEAKER_00Thank you guys.
