Is there any real advantage to these charting packages over the boxed IB charts? I used to have esignal and Cybertrader as a broker (when I didn't care about costs) and didn't see too much value in charting software. It ended up being more of a handicap since I would try to use all the "advanced charting features" and trade off of patterns that I only I (and a select few) knew of!! Not a good policy.
IB chart is way too ugly and offers little way to adjust. Also, you can use Ensign or other software to practice playback, which I find very useful.
No, its funny, that is how i learned to play BlackJack profressionaly and it worked from day one... but in futures... like most... i just jumped in and got whacked from Day One... no one ever explained i could start this small (spy versus es) so i did not know i had a choice... so now i just share the idea here and there... Acutally, if the SPY had same taxes rates and same margin costs / leverage as ES i would <b>only</b> trade the SPY... it has a better spread and smoother entry and exit... i have helped friends of mine start this way and they don't come in so scarred as in the full jump way... cj...
I don't think I've ever been accused of being scared money!! If anything I am quite aggressive and have adapted a risk averse dimension to my trading. I have enough to be live comfortably for at least a year. But I also have to look at my opportunity costs. I would need to make over 6 figures to live how I'm living now. My total compensation package was about 125K including benefits. I ideally I'd like to make well over 200 if I was to take on this challenging time intensive career otherwise it may not be worth it. Right now I'm on free roll to take my chance and see how it goes.
Isn't it true if you classify yourself as a 'trader' you only need to pay capital gain tax on your day trading income even if you are trading stocks?
If you want to continue having your lifestyle now you would be better off getting another job. If I were you and want to do full-time trading I will rent a cheap studio and plan to live on no more than 2K per month. You should never count on trading profits to pay your living expenses. That destroys your psychology!
since you went from 12K to 36k with swing trading and daytrading why not just repeat what you've done before? 200% returns and you got all the major funds beat. I don't see why you need help.
I am not ignorant. I know that a lot of that run must have been luck. I'm looking for long term consistency and improving my strategy. I am now able to dedicate all of my time to trading and don't want to burn a lot of capital through the learning curve. I'm not trying to reinvent the wheel I want to learn from others on what tools are out there. Futures are new to me and from what I've read a better instrument to trade. Complacency has never been my strong suit.