This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I quit! Not trading of course. Tonight I removed the workspaces I use to trade oil. One of the reasons I chose this instrument when I started trading futures was the volatility (read potential). However, the liquidity on the miNY crude contract is terrible.
With the recent swings in the indices, there is plenty of opportunity to make money. Besides the liquidity, the reward:risk ratio seems much better.
A few losing oil trades, and I’m down huge which affects my pysche. We’ll see how long this lasts.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
August 29th, 2007 at 10:39 pm
I asked MaoXian if I should trade futures or equities. He said equities. So I did.
August 30th, 2007 at 12:42 am
I think that you’ve got to choose your markets / trading instruments based on market conditions, which is what you’re doing. Wish you luck in the future!
August 30th, 2007 at 8:17 am
zoomie: i didn’t quit futures…i quit oil…although i did hear oil say, “don’t quit me”
August 30th, 2007 at 9:22 am
I don’t know what it is about futures. It is a tough racket. The first trading book I read was “Pit Bull.” I would love to trade them. I just can’t. I have talked to a few pros who feel the same way…..one guy with 30 plus years experience trading. I am not saying it is impossible, just very tough. I did make some money trading them, but it wasn’t nearly as easy as trading equities for me. I gotta do what pays the bills for now. I just thought I would give my 2 cents. I really hope you become successful trading them. You obviously have the fortitude.
August 30th, 2007 at 11:37 am
ur making a nice living trading equities, so i wouldn’t change a thing…trading part-time gives me room to play around
i have just never accepted the fact that futures are “harder” than equities…i could be wrong, but i don’t see it…however, a trader with 30 yrs. experience obviously knows more than us…gotta respect that
August 30th, 2007 at 12:29 pm
When I initially read this post, I was reading too quickly, and I thought it said “A few losing oil trades, and I’m down huge which affects my porche.”