It seems like the perfect risk free trade, have equal position size long and short right before the data is released, the market is almost always spikes significantly in one direction. Example; use 1 pt stop in each direction and 3 point target, even with 1 point slippage you'd still net 1 pt...
I spend way to much time on this..
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I haven't looked at it in months. The bald headed guy who runs the place, Mike Bellafiore has one of the worst ego's you'll ever see. He talks about how much smarter he is, how big his trading account is, and rarely admits his mistakes.
levitation, I think Amp Futures only requires 2K to open an account, but customer service isn't the greatest..
Also, as others already pointed out, using stops that small isn't realistic unless your entrys are perfect. Its not fun when you get stopped out of a trade and your wrong, but its...
aah.. theres nothing like the smell of Bacon and
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When I started trading ES , I decided $2000 would be my max risk. In my mind, if I lost that money, that would be my indication that I failed as a trader.
Its been over 3 months since I opened my futures account and despite some really dumb mistakes I've made, I'm still trading.
ouch , if I took a 6K loss, i'd be out of the game right now. At the very least, ask your broker to credit your account with some free trades. Last year I had just began using the Etrade Pro platform and I couldnt figure out why I couldn't close out my trade (my fault), and I took a pretty large...
Dont generalize, I've spent a ridiculous amount of hours over the last few months manually backtesting and studying charts to put together my trading plan. Nobody handed me anything, if some guy decides to open up a trading account and treats it like a Roulette wheel, that doesnt refect the...
Gregk, /ES futures have cheaper tax rates then $SPY, but $SPY has cheaper commissions and spread.
Heres the breakdown:
Every 4 ticks (or 1 point) on the ES = 10 Cents on the SPY.
So 1 tick on the ES = 2 ½ cents on the SPY.
This means every time you make a trade with the ES, the market...
Its not your imagination, stuff that a retail trader could use years ago, doesnt work now. Level 2 is basically useless, indicators cant be trusted, and the traders that actually know what they're doing don't want to talk.
Trading around the time a report is released has its own risks, the market can spike extremely quickly, and you might not be able to exit at your stop price. I recently had a trade with a 2 point stop and my fill was -2.5
GatlingGun, this will sound rude but I think your full of BS, no one with any amount of trading experience is dumb enough to trade the ES without a stop.
everything was screwed up when I logged in today, the buy and sell mkt buttons were in the wrong place and DOM wasn't working. I asked tech support to "downgrade" my platform back to normal and they said they couldn't.
I'm looking at Velocity futures as a possible alturnative.