If you're just rolling over bad positions, why not just long QQQ that you can hold forever. At some point, you're going to margin out from rolling the futures contract (assuming it keeps falling from the rolling price).
...And They Have a Plan. (Live.)
- Thread starter Overnight
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If you're just rolling over bad positions, why not just long QQQ that you can hold forever. At some point, you're going to margin out from rolling the futures contract (assuming it keeps falling from the rolling price).
I am already long the QQQ in a portfolio. That's the investing side. The NDX stuff is just for trading. But I now see how tech has sounded the death knell this year, and so will not be rolling that one any longer. It would take a MIRACLE for that thing to get back to entry price during Fed week. I should have known better that the DOW would outperform the NAZ when Powell et. al. said more rates more rates more rates in August/September, because that helps banks bigly. I got suckered into the dream of the pivot.
As I have said earlier, either here or in another thread, this is my first experience in trading with increasing rate hikes WITH increasing inflation. Live and learn.
Closed out the loser. It sucked.
When I saw the CPI pop on Wednesday the position was down only $2900, but held on thinking the Fed would finally pause. But it didn't, and so bailed yesterday in the morning when signposts said no rally. Glad I did, because it dropped a lot further through the day.
So I have learned some real lessons this year on swinging equity futures. One is that, no more swinging long the equities until the economy has reached the point where Powell cries uncle, like I did yesterday. Another is that I know that I can trade right into LTD if needed, as some other brokers will liquidate earlier. (Longest futures swing I have ever held, too, that was neat, (sort of)).
Back to daytrading only now. Bummer man. At least I have seen and experienced what a high-inflation, rate-hike environment is like.
When I saw the CPI pop on Wednesday the position was down only $2900, but held on thinking the Fed would finally pause. But it didn't, and so bailed yesterday in the morning when signposts said no rally. Glad I did, because it dropped a lot further through the day.
So I have learned some real lessons this year on swinging equity futures. One is that, no more swinging long the equities until the economy has reached the point where Powell cries uncle, like I did yesterday. Another is that I know that I can trade right into LTD if needed, as some other brokers will liquidate earlier. (Longest futures swing I have ever held, too, that was neat, (sort of)).
Back to daytrading only now. Bummer man. At least I have seen and experienced what a high-inflation, rate-hike environment is like.
Well I am here Morthole, I see you are losing. Where is this greatness that I am incapable of 'digesting'? Don't blow up your retirement account Boomer. You dont have much time to make it back.
Lets do a recap.
Overnight = the guy who trashed Paul Tudor Jones and claimed the guy could not trade that all his success was luck.
Overnight = the guy who trashed RoaringKitty.
Well I am here Morthole, I see you are losing. Where is this greatness that I am incapable of 'digesting'? Don't blow up your retirement account Boomer. You dont have much time to make it back.
Lets do a recap.
Overnight = the guy who trashed Paul Tudor Jones and claimed the guy could not trade that all his success was luck.
Overnight = the guy who trashed RoaringKitty.
At least I have skin in the game and am making an effort. I don't have OPM, unlike PTJ, and I never trashed Roaring Kitty. This is the second time you have accused me of that.
For the second time, I ask you, bring up the post where I "trashed" him/her/it.
Do I really have to do it again?
Sure, why not, it's X-Mas. Feel the giving spirit.
Overnight's road to happiness. Just forget and pretend it didnt happen.
Overnight's road to happiness. Just forget and pretend it didnt happen.
"...Dude, man, don't you think folks here are a bit more sophisticated than the WSB guys like Roaring Kitty, who got lucky?.."
How is that trashing him, exactly?