Anyone thinking of using the futures for the SPY system?
Wondering when you would make your trades as the futures
trade more often. I'm guessing you'd still enter near the
open/close as you would if trading stock. Thoughts?
Posted by philosoraptor on 30th of Apr 2011 at 03:12 pm
I am also thinking of trading the ES but, yes, taking signals
from the SPY system at any time other than that specified by the
system would not be following the system. IMHO. And I have learnt
to my cost that I am not a discretionary trader...
is there any reason to trade ES other than wanting the
leverage? And if you want that much leverage -- 10X as
opposed to 2X or 3X with ETFs, shouldn't you be afraid of the
leverage? You can't set your own stops, they'd have to be
very wide because futures can move so much overnight. I'm
just wondering what people's motivation is for considering it?
Thanks -
steveo - but if you want the ability to get in or out after
hours, you're already thinking about second-guessing the system
before we've made our first trade.
The only benefit I see for using the ES for the SPY system is
because the tax advantage of futures. I think people's motivation
for considering it is because they want to make more. It's human
nature. Imo, it really depends on the size of one's account. Small
accounts shouldn't consider it. But even big accounts should be
careful on how much leverage to use. Poor money management is a
recipe for disaster.
Using ES Futures
Posted by oops1e on 30th of Apr 2011 at 02:13 pm
Anyone thinking of using the futures for the SPY system? Wondering when you would make your trades as the futures trade more often. I'm guessing you'd still enter near the open/close as you would if trading stock. Thoughts?
I am also thinking of
Posted by philosoraptor on 30th of Apr 2011 at 03:12 pm
I am also thinking of trading the ES but, yes, taking signals from the SPY system at any time other than that specified by the system would not be following the system. IMHO. And I have learnt to my cost that I am not a discretionary trader...
ES
Posted by Michael on 2nd of May 2011 at 05:07 pm
is there any reason to trade ES other than wanting the leverage? And if you want that much leverage -- 10X as opposed to 2X or 3X with ETFs, shouldn't you be afraid of the leverage? You can't set your own stops, they'd have to be very wide because futures can move so much overnight. I'm just wondering what people's motivation is for considering it? Thanks -
The ability to get in
Posted by steveo on 2nd of May 2011 at 09:40 pm
The ability to get in or out after hours / Sunday
steveo - but if you
Posted by Michael on 3rd of May 2011 at 10:26 am
steveo - but if you want the ability to get in or out after hours, you're already thinking about second-guessing the system before we've made our first trade.
Not second guessing, I work
Posted by steveo on 15th of May 2011 at 08:25 pm
Not second guessing, I work for a living, I can't always execute a trade at end of day, which is 10:30 AM Hawaii time.
Work?
Posted by freddy123321 on 15th of May 2011 at 10:17 pm
Yes, traders don't work for a living?
toughest way to make an
Posted by steveo on 24th of May 2011 at 01:25 pm
toughest way to make an easy buck :-)
Michael, The only benefit I see
Posted by cw12 on 2nd of May 2011 at 07:15 pm
Michael,
The only benefit I see for using the ES for the SPY system is because the tax advantage of futures. I think people's motivation for considering it is because they want to make more. It's human nature. Imo, it really depends on the size of one's account. Small accounts shouldn't consider it. But even big accounts should be careful on how much leverage to use. Poor money management is a recipe for disaster.
Using ES futures
Posted by kattap on 30th of Apr 2011 at 02:32 pm
I am planning to use ES futures probably the single entry system with one contract on the close.
kattap
The single would work best
Posted by oops1e on 1st of May 2011 at 01:24 pm
The single would work best for me too as you could really get into trouble adding a bunch of contracts.