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Day Trading Crude Oil, Controlling Risk, Accessing Prop. Trading Firm Capital

Jeff Stulgis is one of our members who has been trading equities, and now futures, full-time since 2003.

If you can demonstrate profitability and low drawdowns in a simulated trading account, there are firms that will invite you to join them and trade their capital, without requiring any capital contribution from you.

Jeff did just that, trading crude oil and other futures. He is now a Proprietary Trader at Patak Trading Partners, trading Crude oil, and also working on adding new products to his live account.

Jeff has accepted our invitation to tell how he managed to keep losses small and profits up throughout a simulated trading period,  with rigorous evaluation criteria, and so obtained an invitation to join the firm, and trade crude and other futures for the firm's account, as he does today.

Jeff has in fact at this point now traded for several different trading firms, and so has an excellent perspective to talk about trading futures and the world of proprietary trading.

Jeff has very generously been putting a lot of time and effort into preparing this talk, which is looking to me to be an outstanding one.  He will cover: 

 - Intro to Futures including Hedging/Speculation, Margins, Leverage 
- Technical Analysis of Crude Oil  and other futures including Trend Lines, Support and Resistance Lines, Fibonacci Retracements.  Springs and Upthrusts (Wykoff / Weiss)
 - Trading Strategies  that Jeff uses including momentum trading and range trading, and how to know which to use and when to stay out of the market 
 - Trading Psychology
 - Demo of the CTS T4 trading platform.
 - How to manage risk so as to minimize drawdown and losses , using stops and other techniques 
 - The rules of the "combine" and evaluation by TopStep 
 - Experiences with Spike Trading,  ECHOtrade and other Stock Trading Firms.
 - Recent changes in trading firms. Arcades. Turn to charging for Education.
 - Who should approach a proprietary trading firm.
 - How to select a firm to approach 
 - How to present yourself and your trading record

Jeff has had experience trading both stocks and futures, with both categories of trading firm, including as a senior trader who helped hire junior traders.. 

Jeff plans to include in his talk some concrete examples of trading both ranges and momentum and how he does them in the oil market. He mentions that he takes screenshots of most of his charts at the end of the day for review, and so has plenty of examples to choose from. 

Jeff says that he works to make sure that he is able to handle both market environments (range-bound and trending), although range trading happens more often, so that's where the bulk of his trading is done.

Keeping profitable with low drawdown is a key theme of this talk.  It is a (some would say "the") key objective of trading, because you cannot lever up if you have large drawdowns.   

Jeff has objectively-proven expertise in accomplishing this goal, and let's see if we can learn how he approaches it.  

The crucial goal of low drawdowns applies completely across all trading, whether for your own stock, options, or futures account or for money you are trading for others. So I believe this talk will appeal to all traders.

We will have lots of time for interaction with our speaker, and also invite others who have had their own experiences to contribute. 

After the meeting ends around 8:45, join us at Ted's Montana Grill, 6911 Fayetteville St, Durham  27713 [masked]) for an informal get together organized by Dave W. where we can further discuss trading commodities, prop. trading, or anything you like.

Join or login to comment.

  • Melanie S.

    Any chance this was recorded? I was unable to attend but I would love to see the presentation.

    February 28, 2014

    • Don B.

      Not a video recording but Jeff has supplied the slides.

      February 28, 2014

    • Melanie S.


      March 1, 2014

  • Don B.

    The slides from the talk are now online. Select More/Files on the main menu line to locate the file.

    February 28, 2014

    • Robert

      Having trouble opening the file.Which one is it?

      February 28, 2014

    • Don B.

      I added a PDF version now. Please try that. It is the top two files in the list.

      February 28, 2014

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