Anyone here daytrade emini futures am with options express now and do my spreads and other trading thru them but they have no streaming futures charts. Any opinions on Think or Swim versus Interactive Brokers. Like to have 1,3 5, and 15 minute charts with indicators up for daytrading futures Thanks
Today's Action BTC 5 VLO OCT 50/47.5 p @0.50 Year to Date P/L Account Value: $16,468.00 YTD Gross P/L: 7,245.00 YTD Commiss: 777.00 YTD Net P/L: 6,468.00 YTD % P/L: 64.7% It is likely that VLO will be higher than 50 at expiry because I don't think that oil will drop much from here. But it is a little too borderline for me and I told myself that if I could get out for half the profit then I would do it today rather than sweating it out. Legged out really quick after the obvious head and shoulders pattern that formed right about 12:30. I left a pretty good profit on the table by not holding the long puts for a bit after buying back the shorts, but I didn't want to risk a reversal, so I set a tight trailstop and it was triggered on a little jump at 1:00. Good enough though I guess. You guys can give me a hard time when there is a rally in oil next week.
You got me thinking about closing my Oct 120/125 OIH put spread. I'm going to hold on to this one. I like the support it keeps getting when it drops under 125. Hopefully get a little rally going soon if OPEC decides to cut output. If they do I might close on that rally but we will see what happens.
Didn't OPEC already decide to trim back a bit? I thought I read a report that said that yesterday. Anyway, your OIH is probs safe. I just decided that it was too close for me to hold to expiry.
Last I heard, they were standing pat---at least for the time being. They said they may cut production in the future. However, many members ignore production quotas and pump as much as they can.
Well, I'm back from Santa Barbara now and getting back into the swing of things. Admittedly I let my BAC trade get away from me. Good thing it wasn't a huge amount of money. I think there has to be a correction sometime in that sector, but it sure isn't happening yet. Holding onto them for now, but I should have closed them out about a week ago.