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Which is why Andrew Yang made this very issue the cornerstone of his Presidential Campaign.

Your understanding is incorrect. Futures Prop firms in the United States of America are regulated by the trading exchanges and the NFA/CFTC. In fact, in the United States Futures Prop firms are only allowed to risk the capital of the firm principal(s) - they are not allowed to risk employee...

Both - your choice. Buy the wings or sell the wings. So, for example, if you buy the wings and sell the body of a particular CL butterfly at, let’s say, -21 and then a week later you sell the wings and buy the body back at +12 you’ve banked 33 tics or $330 on the trade. If, for example...

Look at the settlement sheet for CL. https://www.cmegroup.com/trading/energy/crude-oil/light-sweet-crude.html The Butterfly is the price differential between the June 20, Sept 20, and Dec 20 Contracts. It’s a market within a market and it’s a wonderful way to trade.

Best one in Chicago is DRW.

Good luck with that, Huawei.

So if he would start a subscription service that we could all fade - life would be grand :D

It’s NEVER obvious. :D

Oh yaaasss, you’re one half a swing trader (long puts would complete your title - gotta swing both ways). :cool:

It was all very interesting information, I gained much insight - but in terms of actionable intelligence that I could immediately buy or sell a market on; not so much..

Name your contract Cowboy. The big swinging dick volume is in the exchange spreads. Only exception to the rule is INTER market where you have to scale if you want thousands. An INTER spread market is like: Russell 2000 vs S&P500. An INTRA spread market is like CL M20-U20-Z20 butterfly. So...

Tic size and denomination same as outright contract, bid/ask spread during prime hours single tic (lowest denomination) wide, bid/ask volume at best price is orders of magnitude greater than outright, after the prompt three months the exchange spreads are 75% ++ of the volume. I don’t let my...

Yes, totally serious question. If you had 24 months of Daily modeled trading range would you risk 5 tics to make 15?

What if you were trading a futures market that had twenty tic trading range swings per month and a one lot initial position margin was $800 - could you make money ?

Most of my clients are like you - and like the Marine Corps boot camp, I have to break you down before I build you back up. :fistbump:

Seriously, honestly - in terms of being a successful independent speculator the worst affliction you can have is a macroeconomic opinion. Anytime you gamble your Id, your ego, your cognitive persona against the market you are setting yourself up for abuse.

A word of caution about December: it’s a choppy incoherent meat grinder. The last three weeks in December I really lay off it and advise clients to do the same. Most big funds have closed their calendar years last week in November and the order flows can be random and incoherent. I wish...

Umm, these types of weeks are milk and honey for traders who know how to get into and out of a market like a mechanic. In terms of swing trading - I’ve heard from clients who just crushed it. Like double digit returns on equity in a single week. We’re set up for swings and we got a month’s...

There was a time in the late 90’s and early 00’s where I quite literally spent $4500 per month on a Bloomberg professional terminal and boutique interest rate and energy advisory services. And none of it could tell me whether to buy or sell five seconds after the numbers came out. What’s...

What really kills the Bund, Bobl, and Schatz in the United States is the fact that European regulators would not allow US traders access to the analog cash markets. Even Ken Griffin from Citadel ($32B AUM) asked for it and couldn't get it. I personally used to trade, literally, hundreds of...