Hey Guys,
The S&P 500 has been hanging around this 4500 level the last few days. The market volatility level is not as intense as it was a couple weeks ago, but we're still seeing some pretty big price swings. The swings are just kind of anchoring to the 4500 level.
In the main account, I posted a new futures trade today (MT 95 for those interested). I also posted its stock equivalent using the SPXL ticker. So basically if you are not interested in trading futures, you could consider taking the trade using the SPXL ticker and it's like a normal stock trade.
That said, my futures trades don't always have an equal risk-to-reward ratio like my stock trades, and this one in particular has quite a pronounced disparity in that regard. The stoploss is noticeably further away than the profit target. That's by design and is intended to offer a high win percentage trading opportunity. Also notice: there is no time limit on that trade. I'm holding it until either the profit target or stoploss gets hit.
I also bought SPY options this morning in the extra options account. It's a way of using options to follow that futures trade. For this particular options trades, you'll notice that it's not a spread. It's just a simple call option. Typically I like option spreads, but the short leg for this one was nearly worthless so there would have been almost no benefit to doing the spread.
If you have any questions or feedback, I'd love to hear from you.