I've done this several time with 6 contracts on Schwab, making $2-3k in an instant.
Crazy paper trading day
- Thread starter farmerjohn1324
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I've done this several time with 6 contracts on Schwab, making $2-3k in an instant.
I mean hell, just look at today. What happened on today's NFP? A huge spike down in RTH open, followed by this incredible melt-up. Did you sense any reversal to the initial down-trend after RTH open?
Then stick with Schwab! YOu are making 2-3K! Why change up what is working for you!?!?!
That's not enough to justify doing this long-term as opposed to home building.
I have also learned to ignore the first 3-5 minutes because that could be "deleveraging" of people's trades.
Look at where ES was at 8:30am and look at where it ended the day. The price movement was due to one fact only - the 8:30am NFP report.
But I definitely agree with everyone that 100 contracts is ridiculous. But surely more than 6 would be good.
Just another one of those guys who always knows better and should long be a billionaire/millionaire by now if your hear them talking, but for some strange reason still isn't ....
You're right... go big or go home! @Overnight is just trying to talk you out of a good thing because he greedily wants to keep all the profits to himself.
I am trying to talk him out of making a mistake. We are seeing ES ranges unheard of with the VIX in a tight range of 20-22. That is bad.
Even AMP got scared about the NFP this morning and temporarily removed day-trading margins before the NFP release, and restored them after. That was quite unusual, because it seemed on the surface just another typical day. But their risk-management system saw something else.