I learn from Coolbiz and his mastery of Elliot Wave. I do like that he does this regularly to establish his credibility. Of course he is selling nothing. He just does this because it makes him happy to share.
Trades with cats wrote:Everybody playing the ETF's really should take a look at the micro ES and the M2K micro small caps. With the MES a point is $5 so if you don't want to be at a high roller table you can still afford to trade three or four contracts at a time. The tax side is terrific if you pay US income tax as it is the 60/40 split between capital gains and ordinary. Tax return is just filling in the single number from your brokerage. Brokerages are looking for collateral for day trading in the area of what ever change you have in your pockets. Being liquid futures contracts you just know there has to be a hedge fund somewhere with a fast data connection arbitraging the heck out of any price variance with the regular ES, making sure they are the same price.
The other thing is ETFs do scare me as when things go really wrong it is a sponsoring bank who decides what to do, while with futures it is the exchange. So the bank could say that ended badly and just walk away. Exchange has no other line of business and the members are mostly traders.
TwC, once I have a little more capital I'll have to ask you more about this. I use TD for my stocks are they good for futures and charting?
Trades with cats wrote:Everybody playing the ETF's really should take a look at the micro ES and the M2K micro small caps. With the MES a point is $5 so if you don't want to be at a high roller table you can still afford to trade three or four contracts at a time. The tax side is terrific if you pay US income tax as it is the 60/40 split between capital gains and ordinary. Tax return is just filling in the single number from your brokerage. Brokerages are looking for collateral for day trading in the area of what ever change you have in your pockets. Being liquid futures contracts you just know there has to be a hedge fund somewhere with a fast data connection arbitraging the heck out of any price variance with the regular ES, making sure they are the same price.
The other thing is ETFs do scare me as when things go really wrong it is a sponsoring bank who decides what to do, while with futures it is the exchange. So the bank could say that ended badly and just walk away. Exchange has no other line of business and the members are mostly traders.
TwC, once I have a little more capital I'll have to ask you more about this. I use TD for my stocks are they good for futures and charting?
Just my 2cents. That's what I have, use their TOS platform to trade. excellent IMO
Micro /ES commission fee is a little pricey imo, hey but that's how they get paid.
My comments are for entertainment/educational purpose only. NOT a trade advice.
Trades with cats wrote:Everybody playing the ETF's really should take a look at the micro ES and the M2K micro small caps. With the MES a point is $5 so if you don't want to be at a high roller table you can still afford to trade three or four contracts at a time. The tax side is terrific if you pay US income tax as it is the 60/40 split between capital gains and ordinary. Tax return is just filling in the single number from your brokerage. Brokerages are looking for collateral for day trading in the area of what ever change you have in your pockets. Being liquid futures contracts you just know there has to be a hedge fund somewhere with a fast data connection arbitraging the heck out of any price variance with the regular ES, making sure they are the same price.
The other thing is ETFs do scare me as when things go really wrong it is a sponsoring bank who decides what to do, while with futures it is the exchange. So the bank could say that ended badly and just walk away. Exchange has no other line of business and the members are mostly traders.
TwC, once I have a little more capital I'll have to ask you more about this. I use TD for my stocks are they good for futures and charting?
Just my 2cents. That's what I have, use their TOS platform to trade. excellent IMO
Micro /ES commission fee is a little pricey imo, hey but that's how they get paid.
Thanks BB52! I may give it a try one day, just don't tell my wife!! LOL!
I’m surprised the trigger was relatively obscure
Obviously, the algos have a PRICE stop rather than a tweet (or word) stop
That happened within 1, 2, 3, and 4 minutes after the news. That is not a “human” reaction; it was algos
Disclaimer: I am not an investment advisor. This is just my opinion NOT investment advice.