ES Journal Archive (2009 - 2010)

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Quote from JSSPMK:

Spread bet firms for swing traders are a gift, wider spreads, but no commissions & no capital gains tax.
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Absolutely. For slightly longer term trading, I think it wins hands down.
 
Quote from Pekelo:

With CFDs you can also go long and short in the same instrument at the same time, no need to flip...

I think US laws forbid US citizens to open a CFD account abroad...My guess is for protecting the industry at home...although their justification is that they consider it gambling...

Edit: I just read, it is also illegal in Canada...

My guess it is also for tax reasons, because CFD brokers are not required to provide info to the US, thus a successful trader can make taxfree money and withdrawal is rather easy...
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Pek,

CFD is legal in Canada. Ask a Canadian first next time. =D

The catch is that you have to meet certain capital / professional requirements.
 
Quote from JSSPMK:

Spread bet firms for swing traders are a gift, wider spreads, but no commissions & no capital gains tax.

It falls under gambling because you make a bet on direction, not buying or selling.
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Should move to UK if they are going to improve overall healthcare coverage.

The spread bet tax advantage alone goes a long way, especially for aged traders like me. =P
 
Can someone explain why the trade at 3:45pm didn't work out? I'm just curious as to what technical explanation there might be since there was nothing really bearish that I saw to suggest that it would just flip back lower.
 
Positioning for Monday or "market pressure"? :D

Classic topping candle today pushed on 1131. Guess that means a rocket move up?

Quote from Thundershock:

Can someone explain why the trade at 3:45pm didn't work out? I'm just curious as to what technical explanation there might be since there was nothing really bearish that I saw to suggest that it would just flip back lower.
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Quote from Thundershock:

Can someone explain why the trade at 3:45pm didn't work out? I'm just curious as to what technical explanation there might be since there was nothing really bearish that I saw to suggest that it would just flip back lower.
More...

That line 1126.5 cash or 21.5 ES was the former resistance, in the last 3 days. The only problem with my explanation is that today we did go through it 3 times, but I guess for some reasons it still acted as resistance....The same thing happened at 12:30...

That is the best I can come up with...
 
Quote from Thundershock:

Can someone explain why the trade at 3:45pm didn't work out? I'm just curious as to what technical explanation there might be since there was nothing really bearish that I saw to suggest that it would just flip back lower.
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Previous breakout through 1122 resistance failed badly and so it was unlikely price would push much harder for it that late on exp Friday.
 
Quote from Thundershock:

Can someone explain why the trade at 3:45pm didn't work out? I'm just curious as to what technical explanation there might be since there was nothing really bearish that I saw to suggest that it would just flip back lower.
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Was wondering the same too. I chalk it down to "Sometimes, even the best setups don't work". Oh well.

But if the exact same setup occur again on another day, I would still take it. Now, I have to figure out whether to man up and leave stops at pivots or trail them once it moves in my favor.
 
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