Chris Dover @ChrisDMacro Twitter profile

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Chris Dover

2 years

Everyone wants to be Paul Tudor Jones but Most traders don’t want to do what Paul Tudor Jones does... A 🧵about the GOAT...

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Chris Dover

@ChrisDMacro

2 years

Updated the office

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Chris Dover

@ChrisDMacro

1 year

This is for everyone who has been doing prop trading challenges, and failing Know this • 50% about risk management • 40% about how good you are trading your system • 10% about how great your system is Before you lose another $ on a prop tryout, read this

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Chris Dover

@ChrisDMacro

2 years

If you are struggling in this market tI bet you don’t have a proven strategy You likely: • Watch too many charts • Following narratives • FOMO in just as a market is about to reverse • Can’t hold on in a trend • Wait too long to exit You need a system, here's mine 🧵

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Chris Dover

@ChrisDMacro

6 months

My uncle is a floor trader at the FOMC trading pit in Scranton I've never heard him this worried before, (FWIW this guy was a dive bomber in Barbary Pirates war so he has balls of steel) He said something will happen Wednesday pm that'll make Futures shut down all day Thursday

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Chris Dover

@ChrisDMacro

1 year

How to determine if the day is a trend day or mean reversion day, before it’s too late If you have a problem taking profits too early or letting a winner turn in to a loser This ones for you here we go 🧵

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Chris Dover

@ChrisDMacro

1 year

A great trader asked me "How do I avoid catching a falling knife when trading a mean reversion strategy?" Your 1st response might be, "don't" Catching falling knives are mean reversion strategies (which have higher win rates than trending strategies) Here we go 🧵

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Chris Dover

@ChrisDMacro

2 years

85%-95% of traders fail, I'm going to show you how to be the small percent who don't. Trading is a great way to live, no boss, no office, no HR, unlimited potential. Unfortunately most traders don’t see it as that. Most traders... 🧵

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Chris Dover

@ChrisDMacro

2 years

Assymetric risk: “I’m looking for 5:1 (risk /reward). Five to one means I’m risking one dollar to make five. What five to one does is allow you to have a hit ratio of 20%. I can actually be a complete imbecile. I can be wrong 80% of the time, and I’m still not going to lose…”

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Chris Dover

@ChrisDMacro

2 years

This is for everyone who has been doing the various prop trading challenges, and failing • It's 50% about risk management • It's 40% about how good you are trading your system • It's 10% about how great your system is Before you lose another $ on a prop tryout, read this 🧵

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Chris Dover

@ChrisDMacro

1 year

This is the foundation of all my trading strategies - Let opening range develop - High/low - If high or low isn’t breached don’t trade - If breached trade the breakout retest and trail stop or breakout retest failure and target POC or VAH/VAL This was good for +9R this week

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Chris Dover

@ChrisDMacro

11 months

Wife is out of town for a girls weekend Anyone know how long I microwave these for?

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Chris Dover

@ChrisDMacro

2 years

PTJ Believes the most important thing is how good are you at risk control. "Ninety-percent of any great trader is going to be the risk control."

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Chris Dover

@ChrisDMacro

2 years

I have very strong views of the long-run direction of all markets. I also have a very short-term horizon for pain.Everything gets destroyed a hundred times faster than it is built up. It takes one day to tear down something that might have taken ten years to build…"

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Chris Dover

@ChrisDMacro

8 months

Guys this is big The CME haulted $NQ futures until Sunday afternoon Not sure what is going haven’t seen any news yet

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Chris Dover

@ChrisDMacro

1 year

How to determine if the day is a trend day or mean reversion day, before it’s too late Who is interested in this?

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Chris Dover

@ChrisDMacro

11 months

I know so many traders who try to force all their trading in to the open and skip the rest of the day because "there's no edge" With this strategy you could sleep in until noon and crush most of those open only traders 5% Drawdown 60% ROI - 10m ES continuous contract RTH -

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Chris Dover

@ChrisDMacro

2 years

Here’s my dude Alex’s article that gave me a lot of help

Paul Tudor Jones’ Trading Strategy Explained

Learn how Paul Tudor Jones became a trading great. Study his strategy and techniques along with his journey in trading.

macro-ops.com

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Chris Dover

@ChrisDMacro

1 year

@unusual_whales nice

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Chris Dover

@ChrisDMacro

2 years

PTJ believes that inflation and higher rates cause bear markets “I know from studying history that credit eventually kills all great societies. We have essentially taken out our American Express card and said we are going to have a great time…

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Chris Dover

@ChrisDMacro

2 years

Beyond the notoriety, PTJ has put up an impressive track record, most notably earning triple digit gains 4 years in a row and barely missing the 5th year with only a 99.2% gain. And he did it on SIZE PTJ = SizelordChad

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Chris Dover

@ChrisDMacro

3 years

Success in trading doesn’t come from reading news harder or buying a fancy new indicator or strategy. Like anything, it comes from practice. Practice is the easiest way to improve anything. Few

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Chris Dover

@ChrisDMacro

2 years

Chad Tudor Jones believes “The inability to read a tape and spot trends is also why so many in the relative value space who rely solely on fundamentals have been annihilated in the past decade. Markets have consistently experienced ‘100-year events’ every five years…”

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Chris Dover

@ChrisDMacro

3 years

This holiday week has historically been one of my most productive weeks of the year This is the week that I spend 8 hour days building and backtesting trading strategies a thread...

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Chris Dover

@ChrisDMacro

2 years

Still not into crypto because it's too daunting? Start reading everything on this list, you likely won't be able to put a big dent in to it before you suddenly understand just how big it is

Crypto Canon - a16z crypto

Here’s a list of crypto readings and resources (2018-2019). It’s organized from building blocks and basics; foundations (& history); and key concepts — followed by specific topics such as governance;...

a16zcrypto.com

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Chris Dover

@ChrisDMacro

1 year

Here's a podcast I did breaking down market regimes and characteristics + strategies for each regime It's about 30 minutes long or even better bookmark this tweet so you have reference A 🧵for future reference

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Chris Dover

@ChrisDMacro

2 years

"or you can play momentum/trend, and that’s typically what I do. We’ve seen cheap companies get cheaper many, many times. If something’s going down, I want to be short it, and if something’s going up, I want to be long it.”

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Chris Dover

@ChrisDMacro

2 years

“These days, there are many more deep intellectuals in the business, and that, coupled with the explosion of information on the internet, creates the illusion that there is an explanation for everything and that the primary task is simply to find that explanation…”

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Chris Dover

@ChrisDMacro

3 months

You know whats gonna piss everyone off Fresh new all time highs

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Chris Dover

@ChrisDMacro

5 years

How to make trading your career I’m going to break this down step by step, from day 1 of “I want to be a trader, but I’ve never traded, I don’t know markets, who is this Chris guy” To Scroll along until you find where you are now and jump in there…. *Thread*

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Chris Dover

@ChrisDMacro

4 years

There has never been a better time to become a prop trader than now a thread....

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Chris Dover

@ChrisDMacro

2 years

More thoughts on price action “When you get a range expansion, the market is sending you a very loud, clear signal that the market is getting ready to move in the direction of that expansion…”

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Chris Dover

@ChrisDMacro

2 years

PTJ believes risk management has to be seared into any trader he hires. A trait learned by blowing up accounts in the past and suffering the PAIN of large losses.

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Chris Dover

@ChrisDMacro

2 years

My dude PTJ is a fellow price action/tape reader “When it comes to trading macro, you cannot rely solely on fundamentals; you have to be a tape reader, which is something of a lost art form…”

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Chris Dover

@ChrisDMacro

2 years

PTJ says "Don’t ever let them get into your pocket — that means there’s no reason to leverage substantially…

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Chris Dover

@ChrisDMacro

2 years

Get ready, just when you think you can do no wrong, the market is there to remind you “I know that to be successful, I have to be frightened. My biggest hits have always come after I have had a great period and I started to think that I knew something…

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Chris Dover

@ChrisDMacro

2 years

"While I spend a significant amount of my time on analytics and collecting fundamental information, at the end of the day, I am a slave to the tape and proud of it…"

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Chris Dover

@ChrisDMacro

5 years

The short cut to becoming a successful trader (aka plug in to the Matrix) A thread…..

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Chris Dover

@ChrisDMacro

2 years

Being underfunded is more of a tax on traders than the capital gains tax they pay When you realize how hard it is to make 100% per year trading, you can see why so many traders fail in this business...they are underfunded 🧵

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Chris Dover

@ChrisDMacro

1 year

As a father, husband, former Marine and former EP Agent, I have spent a lot of time protecting people, planning for contingencies and operating in the highest threat environments worldwide and the lowest Here' are the skills that every man should be prepared for always

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Chris Dover

@ChrisDMacro

10 days

What mixes best with this Diet Coke or Sprite?

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Chris Dover

@ChrisDMacro

1 year

How do you recognize a trend or range day early on? Identify key technical levels (Fib, VWAP, VAH/VAL) If those levels are respected (reacted to) then shorter time frame traders are in control - Range day If those levels are blown through - Trend Day Not always but often

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Chris Dover

@ChrisDMacro

2 years

Sir Chadly says do the work “It’s not that we had any unfair knowledge that other people didn’t have, it is just that we did our homework. People just don’t want to believe that anyone can break away from the crowd and rise above mediocrity…”

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Chris Dover

@ChrisDMacro

3 years

The new hotness 3-34” After years of trading on a laptop in airbnb’s, this feels good

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Chris Dover

@ChrisDMacro

2 years

Give your worst trading advice In only two words

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Chris Dover

@ChrisDMacro

1 year

I can't stand watching traders fail another prop tryout because they don't understand the game they are playing So I created The Prop trading course, for free Prop firms thrive on 96% of tryouts failing, resetting again and gotcha rules Be the 4%

The Prop Trading Course: Why Trade Prop?

Being Underfunded is one of the biggest traders faceProp trading firms provide capital, you make the trades!The Prop Trading Course is a free course helping ...

www.youtube.com

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Chris Dover

@ChrisDMacro

2 years

"…technical analysis is at the bottom of the study list for many of the younger generation, particularly since the skill often requires them to close their eyes and trust the price action…"

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Chris Dover

@ChrisDMacro

2 years

Known as one of the original Market Wizards, PTJ (Paul Tudor Jones) was also the star of a PBS documentary called “Trader” where the crew follow PTJ and crew around during the 1986-1987 markets

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Chris Dover

@ChrisDMacro

2 months

Market regimes are critical for how I trade They help me stay on the right side of the main move and avoid letting my ego try to convince me that I see something that just isn’t there $NQ is in bull quiet Average daily range in bull quiet is 1.74%

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Chris Dover

@ChrisDMacro

1 year

If you liked this tweet, I go a lot deeper on these subjects in the Pollination newsletter Read by traders moving up to 9 figures in and out of the market each day, at big and small desks, family offices and individual traders Sign up, it's free

Pollinate Trading

Trade Less. Earn More. Enjoy Life. Learn how to spend a few hours a day trading in any market conditions, bull markets, bear markets. Recession proof yourself (without spending 4 years and $48,799 on...

www.pollinatetrading.com

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Chris Dover

@ChrisDMacro

2 years

Give your best trading advice In only two words

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Chris Dover

@ChrisDMacro

20 days

Tradingview's new footprints are not bad at all

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Chris Dover

@ChrisDMacro

1 year

@unusual_whales The version of the banking crisis that no one expected

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Chris Dover

@ChrisDMacro

1 year

Did you know that over 77% of retail traders lose money? (According to IG Markets, a UK Based broker) It's even harder to pass a prop tryout, only 4% of traders who try out, pass Trading is hard...

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Chris Dover

@ChrisDMacro

5 months

Today I turned 50 against their best attempts Suck it Al Quaeda Suck it ISIS Suck it FARC Suck ot ELN Suck it Jaysh al-Mahdi Suck it to all the Republican Guards Who’d I miss?

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Chris Dover

@ChrisDMacro

2 years

PTJ also believes there are only a couple of ways to make money in markets “When I think of long/short business, to me there’s 5 ways to make money: 2 of those are you either play mean reversion, which is what a lot of long/short strategies do..."

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Chris Dover

@ChrisDMacro

6 months

Just to clarify, the FOMC doesn't have a trading pit, or floor traders Scranton is where the tv show the The Office is at Barbary Pirates war was in 1801-1816 and aircraft weren't invented yet

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Chris Dover

@ChrisDMacro

5 months

Story time When the crypto bear market happened in 2018 I went pretty hard on the multi directional (heavily short focused) trading after catching that massive run 2016-2018 On that whole 2017 run up I made all my money on the long side (duh) despite my best effort to call a

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Chris Dover

@ChrisDMacro

3 years

Every year my wife’s mother would make her a bday cake from scratch. When she passed wifey asked if I would keep up the tradition. Damn right I will!

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Chris Dover

@ChrisDMacro

5 years

How to go from Struggling Trader to Consistenly Profitable A thread

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Chris Dover

@ChrisDMacro

1 year

Most traders focus too much on Key levels, moving average, Fibs, VWAps or any other indicator But not enough on how price reacts at those levels

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Chris Dover

@ChrisDMacro

1 year

Muted all the perma bulls all the way down Muted all the perma bears all the way up Nobody left to mute except traders who know how to play the game and I won't mute them

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Chris Dover

@ChrisDMacro

2 years

If you are just starting out in trading, I have some perspective that I don't see talked about much on FinTwit a thread....

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Chris Dover

@ChrisDMacro

1 year

When you first start trading a new system, any system, the biggest issue is trusting the system enough to stick with it In order to trust a system you need to trust yourself Like anything, you need to put in the reps to get confident A 🧵

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Chris Dover

@ChrisDMacro

1 year

I've done a lot of things in my life, but there's one that has consumed me the entire time. Trading This one is less tactical Here's a story

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Chris Dover

@ChrisDMacro

1 year

And it isn't just the volume that has risen, the average range of price moves throughout the day, is quite similar Notice the 1st hour of trade is the highest, but the 7th hour (the close) has the 5th (of 7) biggest range ($SPX in 2023 so far)

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Chris Dover

@ChrisDMacro

10 months

I was told by a head trader at a multi billion dollar tech hf in the city that they will be pushing $SPX to limit down for the next few days after Fitch downgrade while they accumulate a metric shit ton of small/mid cap tech names Limit down

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Chris Dover

@ChrisDMacro

3 months

@anothercohen With your 5 months experience at Google you’d be a great addition to out startup as Chief AI Officer (or CTO you choose), with a starting salary of $495k and 20% equity with no cliff or vesting schedule Can we put you on our pitch deck

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Chris Dover

@ChrisDMacro

1 year

A sure sign that the big boys are pushing a market directionally is that it doesn't react to small boy stuff like an overnight low to high 50% fib level, an 8EMA or an a session VWAP If Spu's just plow through those levels, you can be sure that big boys are in charge

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Chris Dover

@ChrisDMacro

4 years

Wifes Bday yesterday Our tradition is that I handmake her birthday cake

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Chris Dover

@ChrisDMacro

4 years

The new trading office, studio and lounge What do you think?

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Chris Dover

@ChrisDMacro

1 year

We are in bull quiet market regime This is the regime that bends minds Prepare yourself

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Chris Dover

@ChrisDMacro

1 year

Do you want more tweet threads like this?

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Chris Dover

@ChrisDMacro

4 years

Sorry all, no love stream for a bit We had a boy early this morning!

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Chris Dover

@ChrisDMacro

2 months

Nothing like fresh new all time highs to piss off more people who still haven’t gotten long $NQ

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Chris Dover

@ChrisDMacro

2 years

Likely things have changed for Paul since his 5 year epic run as he’s averaging around 20% since on 10 figure size (Chad) Luckily for us, he was more prolific during his epic runs and left some gems of wisdom for traders

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Chris Dover

@ChrisDMacro

5 years

This is an intervention If you are struggling to be a consistently profitable trader, then bookmark this, retweet it, text it to yourself and burn it into your brain

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Chris Dover

@ChrisDMacro

3 years

First born son Walking Today was a damn good day!

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Chris Dover

@ChrisDMacro

9 months

This is what high skilled traders do: - Exits at fixed stop loss every time - Doesn’t add to losers - Adds to winners - Tracks every trade meticulously by hand in their own record - Can buy at new highs - Can short at new lows What did I miss?

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Chris Dover

@ChrisDMacro

3 months

I’m a community college drop out who never worked at a firm on Wall Street Instead going to school to get certified fornit I taught myself python, c#, sql, r, javascript, networks, spanish, copywriting, accounting and in general how to learn I'm not pedigreed

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Chris Dover

@ChrisDMacro

2 years

Father son weekend starting off strong

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Chris Dover

@ChrisDMacro

4 years

Returns by decade $SPX: 2010-Present +201% 2000-2010 -22% 1990-2000 +315% 1980-1990 +185% 1970-1980 +56% 1960-1970 +52% 1950-1960 +226% 1940-1950 +38% 1930-1940 -43% 1920-1930 +145% 1910-1920 -9% 1900-1910 +68%

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Chris Dover

@ChrisDMacro

6 months

I don’t know about you but I prefer to have evidence that my system will work Have you done a manual backtest of your trading system? Do you have a system? Here’s a 3000+ manually backtested trades on $EURUSD

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Chris Dover

@ChrisDMacro

3 months

A lot of bears begging for a major dump here Seasonally it’s the right time Everything is lined up for it If it happens then that’s what should happen in a calm market If it doesn’t and goes higher that’s the market telling you things are a lot stronger than they seem

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Chris Dover

@ChrisDMacro

4 years

Paying attention to what's really important and avoiding anything else in trading is what seperates low skill, middle skill and high skill traders Let me expand on that...

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Chris Dover

@ChrisDMacro

1 year

I have a secret weapon, and it isn't even fair It's not some secret indicator or special algorithm that sniffs the tape It's far more interesting 🧵

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Chris Dover

@ChrisDMacro

1 year

In a smaller time frame trader environment price seeks liquidity, so it moves back and forth between levels Thursday was textbook example At open price dropped to key level and reversed (not big boys), waited for my setup, got long 75 minutes after the open, and add add add add

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Chris Dover

@ChrisDMacro

1 year

Catching a falling knife means, stepping in to buy when an asset is dropping fast Why would anyone do this you ask? The win rate is very high Markets mean revert 70-80% of the time, so there's a high likelihood that any sharp move will revert back to where it started

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Chris Dover

@ChrisDMacro

4 months

Snow day Nothing else matters

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Chris Dover

@ChrisDMacro

5 months

Nothing more bullish than bears calling for a market crash at new highs $NQ

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Chris Dover

@ChrisDMacro

11 months

Just got a DM from my buddy at a massive fund in Connecticut, he said they are sending $NQ limit down for 6 straight hours tomorrow

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Chris Dover

@ChrisDMacro

4 years

No daytrading for me today Expecting a new warrior to join the trading desk in may, my first child We decided to pause the nomadic life to prepare With that I send you all the best of energies for a succesful day of trading!

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Chris Dover

@ChrisDMacro

2 years

Systems are a cheat code to earning a living in markets If you can learn to trade a single system with 100% effectiveness and stop trying to do everything you will succeed in trading #daytrading

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Chris Dover

@ChrisDMacro

8 months

Imposter syndrome is bullshit Everyone who is doing anything challenging is reaching outside their core competence But you aren’t an imposter, you are stretching and that’s what you should do

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Chris Dover

@ChrisDMacro

1 year

The most successful hedge fund in history, Jim Simons’ Medallion Fund is a mean reversion trading strategy and made 66.1% per year (before fee's) from 1988 to 2018 So, buying dips and selling rips, AKA mean reversion, is a massive edge

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Chris Dover

@ChrisDMacro

1 year

Views from this weeks trading office That’s my family down there👇

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Chris Dover

@ChrisDMacro

1 year

Imagine Kobe Bryant, Michael Jordan or Tiger Woods were going to become traders How do you think they would approach it?

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Chris Dover

@ChrisDMacro

1 year

If however Spu's react to a small time frame Fib level, or any other short term trader levels, then you can be more comfortable knowing big boys aren't going to steam roll you when trying to catch the falling knife... Taking the mean reversion trades

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Chris Dover

@ChrisDMacro

5 years

One of the best traders I know: Smokes weed all day takes Modafanil Uses Tradingview and Excel do all his trades on Interactive Brokers Walks for 2-4 hours /day listening to Audible/Podcasts Sleeps >8 hours /day Lives in a 1 bedroom in SF I've seen him make >$1M in 1 day

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Chris Dover

@ChrisDMacro

6 months

Elliot Wave is the worst rabbit hole to go down You'd do better donating the money to the non-profit you disagree with most And you'd still be happer with the results

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