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Why do you trade futures instead of equities or ETFs or spot forex?
Mike
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Last edited by Big Mike; September 15th, 2012 at 08:55 PM.
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Taxes: 60% long term gains / 40% short term gains no matter the holding period on broad based index futures. Less going out to the tax man is a nice boost when compounding returns. Also, no wash sales or other tax headaches like with equities.
Both of the answers assume you are profitable. I agree that taxes are better on futures, and leverage is higher on futures.
However, the majority of people on the forum with little to no experience seem to be starting with futures, and I think that if they are really serious about trading full time to earn a living, you should not start with futures.
So I'd like to focus on the people that are not profitable. Why are they trading futures?
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
Sorry Mike that wasn't clear from the first thread.
But of course, if we are talking of new traders and beginners, in my opinion they shouldn't be trading any leverage vehicle, not future not options, and not even double or triple ETF's.
Successful people will do what unsuccessful people won't or can't do!
I understand everyone always wants to project into the future, so they see futures as the most profitable and thus they want to start with them even though they are not profitable traders yet. It's like buying a Truck to pull your boat, even though you don't own a boat yet, you know you want one eventually.
But they haven't yet received their drivers license, and are going to kill themselves in a fiery car crash.
Mike
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
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I trade ETFs rather than futures. Chagrined after watching the HFT webinar with IQ to learn HFT likes to lurk in ETFs Gives a face to the rumours, I suppose.
Gives a face to the rumours, I suppose.
