=========================================== Title is a paraphrase of Cramer recently. I dont even paper trade that big all at once; and usually dont announce to all my paper trades , especially before the paper trade fact!
How did you decide you want to take your position in the QQQ's instead of the NQ's? Are you not a US taxpayer? Perhaps you have such a big capital loss carryforward that the tax difference doesn't matter? It's worth considering the difference carefully if you haven't already.
That is why I suggested not missing the overnight. Could have done it overnight with NQ, then hedged in the morning with QQQs. Last time I did that (traded the overnight session on ES) I was worthless for two days though. Trading 24 hours straight is hard. But I thought you had 100K QQQs when you were talking your position. Not really worth losing sleep to make 9 points on 4 NQ. Wait a minute...:eek: nitro
60% of capital gains from futures trading, regardless of the holding period, are considered long term capital gains. See IRS Form 6781 lines 8 and 9. This preferential treatment for futures vs. securities can make a big difference in your net profit. The only reasons I can see for trading the QQQ's instead of the NQ's is: - you aren't a US taxpayer - you have a huge capital loss carryforward - you want a small position and a single NQ is too big - your money is in a securities brokerage account rather than a futures brokerage account and you value the convenience of being able to trade QQQ's immediately. Everyone else (well capitalized, profitable, US traders with a futures account) should be trading the NQ's. If you don't have a futures account and do a lot of securities trading â IB has a nice "universal" account that will allow you to trade both securities and futures.
There is so much to this market that I don't know...I started out 6 years ago trading momentum on the Nasdaq, and eventually developed a longer-term swing style...I've never picked up on futures and with the steep losses I incured the first 2 years trading, I hate the idea of paying my dues trying something new...but I think you're right that I should incorporate some future's trading into my Universal IB account..thanks!