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I often think of trade ideas, but seldom have time to perform analysis on them. I have even thought of hiring an "intern" type of person that could crunch numbers all day, but I thought I would try this thread first.
Below is the video of this session. FT will be back again soon for another live AMA, I will post in this thread once it is scheduled.
For those of you who did not get your questions answered:
a) Next time please join the room earlier and ask your question upon joining, we take questions on a first come basis
b) You can post your question here in the thread, FT will do his best to answer (the best questions will receive the most attention).
There will be a Live AMA session on Tuesday, April 2nd @ 12:00 PM ET.
- Quick and casual, 30 minute cap
- No prepared presentation
- Live screen sharing
- Floor will be opened immediately to questions
- Recording uploaded to AMA thread afterwards
- Attend live to get your questions answered
I've heard you say you are looking only for 2 points on ES. Now obviously that is irrespective of size, but are you saying you trade to a daily goal and then stop once reached?
I'm a combination scalper/day trader. My pedigree was in high volume scalping starting with equities and then into futures. I don't like sitting in heat very long (heat = a trade that is against my direction). I approach every trade as a scalp but try to keep a runner on if I can get it going. My goal in a product like the ES is very modest. I'm looking for an average of around 2 pts per contract. I'm not interested in catching an entire swing. My focus is first on risk control and then on just taking what the market will pay. I don't care if I take 2 pts and it goes 18 pts further. Couldn't care less. For many, this is a problem since, in my opinion, many folks see each trade as a discrete data point. I don't. I look for a slight edge on a large number of trades. Think more in the casino model rather than an investor model.
I can't speak to your investments question. However, I have long been a believer in owning real assets and so I look to be heavily weighted in uranium, gold, palladium and other miners (mostly in Canada). Although equities have run up a fair distance since last year, I believe that the market is being pushed by Central Banks rather than by earnings and strong fundamentals. I'm always looking to hedge the decay of the USD with real assets. If you look at the value of equities or their indices in terms of gold, crude oil or another physical asset, you will find that equities are nowhere near the highs. It is a huge advantage for the US to have such a widespread global currency.
My view on the US markets is in the camp of stagnation. I believe we are entering the same cycle Japan did after its big boom in the 80's. This is why the market pays much more attention to what the Fed and other CB's do rather at real growth in earnings and global trade. The economy is like a horse with real bad joints that we keep racing around the track and injecting it with anti-inflammatory drugs (monetary policy). The solutions are not looking at the economy holistically because there is political pressure governing all CB action.
The market is in a compression cycle for volatility and trading. We go through these. In my opinon, if as a trader you can keep your risk plan and trading plan flat to positive for this time period and survive your overhead and lifestyle costs, you probably would be much stronger once things pick up. Again, that is just an opinion.
I hope that takes care of your questions.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread