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Results of Thursday’s Best S&P Futures Turning Points: No trade triggered.
Today’s Best S&P Futures Turning Points (consider wider stops and less size in fast moving markets):
Buy 5311.00 stop 5305.50. Short 5306.25 stop 5312.00 if price drops below and retraces to entry.
The World Index: (+100/-100) falls from +21 to +7 with most major world markets still closed for the Easter holiday.
Catalysts: Final MFG PMI @ 9:45. ISM MFG PMI & Construction Spending @ 10:00.
Quick Tip: Hidden Gem
Of all the markets you can day-trade, there is one that offers more benefits than the others and it’s the least popular with retail traders.
The news, social media, and advertising are so influential in convincing us what is “hot” that the trader unwilling to dig deeper with personal research misses great opportunities.
If there was ever a true “match made in heaven” it’s day-trading futures. It’s not that you can’t day trade stocks, options, FX, or cryptos, the list of benefits in futures outweighs every other asset class. Consider…
1. Modest capital requirement… great leverage. Day trading stocks or options requires a minimum account of $25,000, futures can effectively be traded with $5,000. Of course, the more the better.
2. Open 23 hours for night trading and less risk relative to stocks that may gap against you overnight.
3. Tax benefits if you’re not in a retirement account. Yes, you can trade futures in your IRA.
4. True diversification covering stocks, bonds, metals, energy, currencies, cryptos, agricultural, and more.
5. Fair pricing. The futures market does not have market makers or payment for order flow like the stock market. Popular contracts have very little bid/ask spread. You’re trading against other traders, not market makers or your broker.
If you’re considering day trading you should first read the white paper “Why Trade Futures.” You’ll learn far more about each of these benefits.
Trade Fearlessly,
Mike Siewruk
P.S. Feel free to pass this along to your trading buddies. Share in the wealth!
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