Thanks I've been testing that for a while I exit 7 contracts at 2 points and let the other 3 run since most of the time I can actually get more than 2 points.
Trading For Living - S&P 500 Market.
- Thread starter Trading4Living
- Start date
Thanks I've been testing that for a while I exit 7 contracts at 2 points and let the other 3 run since most of the time I can actually get more than 2 points.
wtg, becks!
i would point out to the readers of this thread that 7 contracts at 2 points apiece is $700. if you can do that even 3 times a week, that's 2k/wk, which is 8k/mo, which is a good living for most people.
on top of that, the 8k/mo is only charged at 15% lt capital gains rate (for 60% of it; oridinary income tax on the rest). so not only are you making a good living, but unlike a regular job, you are taxed less on it. very nice indeed.
i would point out to the readers of this thread that 7 contracts at 2 points apiece is $700. if you can do that even 3 times a week, that's 2k/wk, which is 8k/mo, which is a good living for most people.
on top of that, the 8k/mo is only charged at 15% lt capital gains rate (for 60% of it; oridinary income tax on the rest). so not only are you making a good living, but unlike a regular job, you are taxed less on it. very nice indeed.
Quote from princessa:
wtg, becks!
i would point out to the readers of this thread that 7 contracts at 2 points apiece is $700. if you can do that even 3 times a week, that's 2k/wk, which is 8k/mo, which is a good living for most people.
on top of that, the 8k/mo is only charged at 15% lt capital gains rate (for 60% of it; oridinary income tax on the rest). so not only are you making a good living, but unlike a regular job, you are taxed less on it. very nice indeed.
lol, i just heard that obama wants to increase taxes on the financial market though, like the dividend tax :eek:
anyway Becky, do you have a screenshot?
Something that always worries me about index futures: sooner or later liberal "let's stick it to the rich" types in Congress will target the favorable 60/40 tax treatment.
Here is a screen shot to confirm the trading size for today's trade
I shaded the account # on the screen shot for privacy.
screen shot attached
I shaded the account # on the screen shot for privacy.
screen shot attached
Well done
I love the 60/40, but it is an unfair advantage given to futures traders by friends in Congress. I am surprised it has lasted this long.
Moving the stop to BE is the only problem this way I will get stopped out most of the time I'll have to use a bigger stop and risk the profits that I earned.
Will test it and see if its more profitable on the long run tho.
---
Becky Biggs
I guess the main goal would be to leave at least some contracts out there to catch any bigger move. You'd have to work out the math for the different scaling ratios versus how much to tighten the stop (if at all)