<i>but</i> (key word) want a smaller dollar per tick market because <u>I am having a hard time with the psychology of <b>having to be perfect.</b></u> In other words.....when live <u>I tend to get anxious and enter early to avoid missing the trade because even a few ticks can mean I wont enter because I dont chase.</u> ** Can you explain to yourself how all of that will change with a different market = symbol? Do you honestly believe your errant inner emotions (as stated above) will change & become managed once you leave the YM and try to learn something else brand new?
Spinn, You have to be willing to take the couple of losses your 15 point stop system spits out to get to the profits that drew you to that method of entry. Whether or not you trade the YM.
Sim03, I thank you for your detailed response. One last question on trading spot metals at Oanda: Is the tax treatment like stocks (=regular income), or is it like futures (60/40)?
Expected to be 60/40, in line with the established favorable tax treatment of spot forex (subject to the usual internal self-election out of IRC 988). "Expected" because spot metals have been available on Oanda only since last March. Also useful to know that the only tax document you and the IRS get at year-end is a 1099-INT, which, presumably, cannot and will not make any distinction between net interest from forex and net interest from metals. When it comes to the actual net gain / loss from trading - you'll need to figure it out yourself and report the result on your tax return.