OK second trade in the SSF's. I figured I can use the QQQ fut to take position intraday with a longer term perspective. That's what i did today. I also traded ONE DIA I watched it intraday and figured I can always hedge with the cash if ONE goes down. I missed a great trade around 10:40. At this point I hadn't made up my mind yet about whether trading ONE DIA or not and I saw it take off. I went to the grocery store and realized there was a big rally going on, at the same time I knew it was late to get into a daytrade with DIA, kind of situation where I get upset watching the market going up . I came back home and all indices looked like ready to breakout again. OK here was what I was waiting for... At the same time I was anxious that the BO would actually work because I wasn't going to take it .
When it dropped good I bought 1 QQQ fut at 28.30 (2:20pm) I tried to post a bid but there aren't alot of trades, nobody takes it. so I just took the offer. This was for an overnight but if I get out before the close I don't lose any "daytrade"
Of course QQQ kept going down another dime. So I got hesitant about buying DIA as it dropped like a stone . Result I missed the better entry point and bought on a retracement after the bounce (around 2:50pm.) This time I took the offer right away, not trying to play around. When it started moving back up to 86.10 (cash)the spread widened to 9 cents as MM's were raising the offer(usually it's 4 cents).
After that i tried not to watch too much as it just chopped for some time and I decided to wait the close to take another 200 Q's. I kept both contract at the close . ONE shut down right at the bell pretty much, NQLX a couple seconds later.
I traded the May contracts, I don't plan to hold them until next week expiration but do they become illiquid close to expiration ? Is there a delay between expiration and the time the shares are in your account and you are able to liquidate them ?
When it dropped good I bought 1 QQQ fut at 28.30 (2:20pm) I tried to post a bid but there aren't alot of trades, nobody takes it. so I just took the offer. This was for an overnight but if I get out before the close I don't lose any "daytrade"
Of course QQQ kept going down another dime. So I got hesitant about buying DIA as it dropped like a stone . Result I missed the better entry point and bought on a retracement after the bounce (around 2:50pm.) This time I took the offer right away, not trying to play around. When it started moving back up to 86.10 (cash)the spread widened to 9 cents as MM's were raising the offer(usually it's 4 cents). After that i tried not to watch too much as it just chopped for some time and I decided to wait the close to take another 200 Q's. I kept both contract at the close . ONE shut down right at the bell pretty much, NQLX a couple seconds later.
I traded the May contracts, I don't plan to hold them until next week expiration but do they become illiquid close to expiration ? Is there a delay between expiration and the time the shares are in your account and you are able to liquidate them ?