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Believe me I won’t argue with you, $4k is much too low for a swing trade, but for short term day traders it is probably not that big of a deal. 100 to 1 is too much, 10 to 1 is too low.

Look at the margin of CME currency futures like 6E (EUR/USD), it is currently $4050 to hold an overnight contract. That is excessively more than 10 to 1.

No professional trader would trade how you do (no stop, negative r/r), but you have shown the importance of recognizing and trading with the trend.

efficiency, You seem quite obsessed with this issue. I can’t imagine why I would care to argue with you considering you missed the point of my post. Since most here are not professional traders, I am relative certain any ensuing discourse between us would fall on deaf ears. Since you...

We were near the top of our 5 month channel with yesterday’s trading, so today’s pullback makes sense. We can drop a long ways and still be in the very strong uptrend.

Earnings info from AA, ERTS, CRM, WDFC all were bad. Futures barely giving up what we gained today. Will we ever be allowed to have a normal pullback again? We have not had one since October. I don’t know where we are going, I’m just hoping for a little more interesting movement.

Those numbers are wrong, they lost 27 cents and had 28 cents of special items so net of the two they made 1 cent which is below the consensus of 6 cents. They did beat on revenues though.

Why would politicians do anything that would actually hurt the financials? The banks made a deal to support the markets as long as they could keep growing as much as they want, and any regulation would be for show and not hurt them much. By supporting the market everyone feels better and...

Since when has there been risk? Ben and Tim have gone way out of their way to make it very clear they will do whatever it takes. The Nasdaq 100 is less than 18% away from 9 year highs, so on our current trajectory we will have erased the entire bear market by mid year. The world has proven...

Since you brought up the SPY: SPY volume the first full week of 2009 was 1.45B, it was 1.47B the first full week of 2008. Look at what it is for this week. When volume falls by 50% and we have many more HFT traders now, which means actual volume is probably down by 75%, it has to mean something.

Um, let’s see September, October, November, December, so it is pretty shocking that we have done it again in January. I wonder if there is a pattern?

It needs to be below 15 to correspond to the actual volatility we are seeing which is 10. I can’t find anytime in history where options traders have been so wrong for such a long period of time. They have been afraid of significant movement since early November, yet we have seen absolutely...

Then why are you trading it or even watching it? Other instruments are having large and volatile moves which present better trading opportunities.

Agreed, but only if it is for real and a noticeable amount. They have been trying to talk down their bubbles (as opposed to our Ben who loves them and actively facilitates them) but they have to follow through will real tightening not just minor hints and rhetoric.

Financials close to breaking down the first time today, if the H&S plays out LC should get his 1122, but so far they are holding them up.

Virtually anything you look at has had significantly better trading opportunities than the ES over the last two months. ES range today is 7.75 so at $50/point that is $387.5 Euro range today is 139 so at $12.50/tick that is $1737.5 If you are a daytrader you are probably throwing away your...

Blue horseshoe loves financials, that is why the ES isn’t pulling back right now. They have been underperforming for some time now, but yesterday and today they are significantly outperforming.

When do you expect this volatility to start? For two straight months we have had essentially the lowest realized vol we have seen in a long time, and some of the lowest that has ever happened in the history of the market. Yesterday and today fit our recent pattern well, so there is no current...

^What he said. Give Bright and Echo a call and tell them exactly what you plan on doing and they will let you know what you be allowed to carry. Pay special attention to any interest charges (short, long, haircut, etc.) because those add up huge if you are holding size spread trades.

With the ES over 1114, the guy who sold tens of millions of SPY Friday night and lost a few hundred thousand dollars should be looking for a new job right about now.