Then he might have an argument with NT as the error messages he got should only occur prior to RTH. If you don't think it could have happened during the NFP response then drill down to tick level chart. I see NQ moving about 140 points in the 1 minute after NFP. Still no excuse for being over leveraged and not understanding one's true risk.
You need to trade higher timeframe as you have done. It does not work because any message from Trump can cause huge moves suddenly. I have seen this recently on my own, when even the most liquid EURUSD jumped in minutes +1% and then later -1% again. The only way to reduce risk is having less leverage and higher timeframes so those sudden jumps do not have that much impact on your trading. Also I had to reduce some markets I traded because of Trump. They were profitable before but with those Trump jumps they turned negative. Will see if I trade again on some more symbols than now. But I want to say that you also need to consider what market is best for you to trade in actual environment. The market seems to overreact short term with jumps on any news from Trump about the tariffs. It is less than the first news on tariffs since Trumps started in the White House, so I hope there will be calmer reactions. Those sudden jumps you really cannot manage properly, everyone needs to deal with. So you are not alone here (as additional message to your post). The reason behind those tariffs jumps is, that the market thinks there could a potential big trade war with many tariffs on both sides and then also big inflation coming which is bad for all economies. But this is in fact not true, as there is too much speculation involved. There are lot of actions needed and time need to pass before the harm is there and then we have seen on any tariffs news the parties or countries come together to make a new trade deal and then all the tariffs announced are gone. Also the condition that it will cause huge inflation is not certain at all. It is by far too complex to write the reasons for it in a few lines. But the problem is now, that the tariffs thing are not over. There will be new trade deals to be made in a few weeks with Mexico and Canada again, then the EU and USA trade deal is still not made. And the biggest issue could be an agreement with China. So there will be future impacts on this very sure for some months. I just hope it will settle down without any economic harm for the US side, but nothing is certain. So for me the market reactions are irrational, not based on facts but on the fear something big negative for the economy just started now. It feels like a panic reaction everytime I see the market reactions. Everyone has to deal with currently.
Basically I meant having much wider stops, and less contracts on the hand. Usually this is the case when you have higher time frames. It is not meant absolutely but relatively to. So if he had with his current time frame a 25 points stop on Nasdaq Futures with 4 contracts on the hand, he better should 250 points stop with 4 micros on the Nasdaq. Did you get it ?.
I'm sorry to hear about your loss. The 10 AM move on Friday was an outlier move. 99 % of the time in the market you'll do fine with a stop loss, but once in a while these moves happen even in RTH. There was a scheduled news release then with an expected market impact, so you could have avoided it. To be fair, these releases usually ain't this dramatic during RTH, but the market is very whippy these days. From what I can see, this was an instant drop with very little volume traded, so it seems legitimate to me on NTs end. There's even a gap on my charts from one second to the next. You need to keep in mind that a stop loss is essentially only a market order. If there is no market, it can be be executed very far from where it was triggered. There was another outlier move later in the day. This one was unscheduled. I believe it was a Trump tweet on tariffs. Again. In the current market climate I'm comfortable trading with bucket shops instead of my own money. Fall 2022 really opened my eyes to what's possible in the market with the CPI and PPI releases then. I think up until that point an instant 100 point drop on ES was unprecedented. Just like nobody thought crude oil could go negative. Bottom line this is a risky business and you really need to know what you're doing. And even then, you still run the chance of getting f**ked.
Robinhood is going to offer futures starting very soon. Wallstreet bets is going to have a party with all the new traders posting their screenshots of their daily wins and losses.....
At 10AM the University of Michigan Consumer Sentiment was released. Actual sentiment of 67.8 was well below the consensus forecast of 71.3 From Briefing.com: 10:00 ET: Univ. of Michigan Consumer Sentiment - Prelim For: Feb | Trading Impact: High | Actual: 67.8 | B.com Forecast: 70.7 | B.com Cons: 71.3 | Prior: 71.1 | Revised From: --
Futures ? Probably with a 4% of notional contract value margin... (regular MES) One -6% flash crash = Robinhood bankcrupt ! (unless they gonna liquidate the young guys IphonePro & beer bottles)