FTS-BillSerial entrepreneur Bill McCready has done everything from owning Radio Stations to Aussie Bars. But since 1994, trading has been his No. 1 source of income.

A fisherman, rough water swimmer and ex-Rugby player he is now based in Reno, Nevada and runs FuturesTradingSecrets.com where he teaches traders how to trade the futures market.

In the show Bill reveals:

  • The only type of chart he will trade
  • A unique “non-lagging” indicator straight out of the Nuclear Power industry
  • What to do if you get stuck in a big News bar
  • The single most important thing to master as a trader

Recommended Books

Anything from:

Interview Links

Key Lessons

General

  • He sets a goal for his students to practice with a SIM broker until they get 60-70% winning trades
  • The Reverse Martingale strategy (every time you win you double up, every time you lose you go back to the beginning)
  • Limit your losses, and never move you stop
  • A lot of people can’t handle winning only 40% of the time
  • Trading is 80% mental, 10% money management and 10% signals
  • Very few people are disciplined enough to track and record each trade – Bill uses a program called Jing to record each trade
  • Realize that even if you have the perfect entry the outcome of the trade will be random
  • Realize that everyone in the market is better funded than you, smarter than you and better than you – so you’re playing a random game and flipping a coin in some ways
  • How you were brought up with money, security in your life and thoughts about money boils to the surface when you trade and triggers emotions. To overcome this all you have to do is ask yourself “Why do I feel this way?” and make that question 5 deep
  • Bill found the market tends to change direction on 4, 12 and 36 minutes
  • Morning star and Evening star candlestick patterns are about 95% accurate in telling you a market will reverse
  • When you’ve doubled your account size, only then, double the number of contracts you trade
  • Learn about candlesticks from the Candlestick forum (email Bill for the link)
  • Don’t trade before interest rate announcements
  • Don’t overtrade or revenge trade

Bill’s Trading

  • Bill only uses Tick Charts
  • He uses two Moving Averages to tell him the general direction (49 and 89 Exponential Moving Averages)
  • He started out using MACD and Stochastic, but ended up finding an indicator that doesn’t lag; it’s called an Ergodic Indicator (straight out of the Nuclear Power business)
  • He also uses Passive Endo Patterns that are only available on a software package called Ensign Software
  • He always looks at the Support and Resistance from the prior day because the market bounces back and forth between them
  • His trade duration ranges between just a few seconds and less than 20 minutes
  • He day trades in the morning for about an hour and a half
  • His winning ratio is about 78%
  • Bill trades continuations and reversals

Bill’s Strategy

  • Look for a 1-2-3 setup
  • The first indicator is the Passive Endo bars, the second it the Ergodic and the third is when the Ergodic crosses it’s moving average similar to the way the MACD crosses
  • Target 3-5 points
  • Hint: Put the Average True Range on your chart for the prior day and find the biggest bar. Then make sure you’re a quarter of a point above that bar and you won’t get stopped out on a whipsaw.

 


HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES, OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES, ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL, OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM, WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

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CFTC - U.S. Government Required Disclaimer:

Forex, futures and options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. Our website, product contents, and materials are neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our website or in any materials. The past performance of any trading system or methodology is not necessarily indicative of future results. Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets.

Don't trade with money you can't afford to lose. Nothing in our course or any materials or website(s) shall be deemed a solicitation or an offer to Buy/sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.