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Hello fellow traders,
Anyone else here finds extremely difficult to trade WIN futures, as opposed to S&P and Nasdaq mini futures?
Easy decision then.... trade Nasdaq or EMINI! 🙂
I share the same difficulty, Arthur. To me, the Brazilian index is a nightmare!
Based on that, I've decided to give the S&P a try.
I've been trading it for 2 weeks only, but so far, I'm really happy with the progress. It really seems to be way better to trade.
Hope that doesn't change 🙂
I share the same difficulty, Arthur. To me, the Brazilian index is a nightmare!
Based on that, I've decided to give the S&P a try.
I've been trading it for 2 weeks only, but so far, I'm really happy with the progress. It really seems to be way better to trade.
Hope that doesn't change 🙂
Hi Bruno how are you?
I'm also a Brazilian trader and I find the Brazilian Futures WIN very unpredictable too. I'm considering to start trading the micro S&P 500 to better reconcile and apply what we learn by reading Al's books and watching his videos X what we see in practice, daily on markets, since the vast majority of the examples taught by Al are done using the S&P 500 graphics.
I noticed that you started trading the S&P 500 in FEB/2021. How have you performed since then? Are you still trading it, or did you return to trading in the Brazilian futures market?
I'm starting to research the details I should learn about trading micro S&P 500 futures... Could you please tell me where did you find data, or even tell a little bit about:
- Taxes: how to declare the gains earned on day trade operations in the united states? How to quantify multiple currency exchanges, and how often to declare?
- S&P 500 specificities (for example: what are the rules for a circuit break in SP500? What are the trading hours? Is the adjustment daily? etc)
- Risk Management: how many points do you and/or people in general use as a loss limit and daily gain goal? Is it a fixed number (of points) or a % of the average daily range of S&P 500?
- Investment Brokers: what are the best to trade S&P 500 futures? What are the best trading platforms and which ones have better cost/benefit? What service do you use or recommend to send money to the USA broker?
Thank you!!!
Marcelo.
@mq_alvesoutlook-com Hi Marcelo, it's always good see more Brazilians here.
So far my experience with S&P500 (and Nasdaq as well) have been very good. To be honest, I like Nasdaq even more, since it's movements seem more directional to me, despite the fact that both indexes are very correlated.
When I first started trading the US market, I got a trial account with Ninja Trader for a few weeks to get used with the new platform.
After that, I decided to try the prop trading firm route, as opposed to trading with my own money. Prop trading firms are understandably criticized in terms of the benefits they provided. However, my goal here was not much if they were financially more viable than trading with my own money: my goal was to be able to trade without compromising my money because the impact that has on my trades are still something I need to improve.
Because of that, I might not be able to answer some of the questions you posted here, but here are the ones I can help you with:
- S&P 500 specificities (for example: what are the rules for a circuit break in SP500? What are the trading hours? Is the adjustment daily? etc)
The circuit breaker is triggered after 7%, 13% and 20% on the intraday. The adjustment happens from 5:00pm EST to 6:00pm EST (there is also a pause from 4:15pm EST to 4:30pm EST that I don't entirely understand the reason. The trading hours are basically ~23h/day, where the regular hours (biggest volume) is from 9:30am to 5:00pm. The remaining hours are part of the Globex session. You can trade those hours, but the volume is much less and I find harder to make money because the volatility also drops a lot.
- Risk Management: how many points do you and/or people in general use as a loss limit and daily gain goal? Is it a fixed number (of points) or a % of the average daily range of S&P 500?
This is something personal, but a formula that worked for me is to aim for 2-3 times the average 15 min bar from the last 2 days (I use the ATR for that). That gives me a north of what would be a good profit, or a good time to call it a day if I'm on a loss streak.
- Investment Brokers: what are the best to trade S&P 500 futures? What are the best trading platforms and which ones have better cost/benefit? What service do you use or recommend to send money to the USA broker?
Since I'm trading through a Prop Firm, I don't have to deal with these points, but if I had to, I'd use the Ninja Trader brokerage service, and send the money through TransferWise. But I'm sure people here in the forum could provide their personal experience on that.
I hope that helps.
If you want, feel free to shoot me a PM and we can continue to share our experience.
Wish you the best,
Hi Bruno. Thank you for your feedback.
It's good to see that this path you have taken is going better than trading Win Index (BR). No doubt it is also the result of your efforts and studies.
Could you share any social network you use so that we could PM? Didn't find anyone listed in your profile. Or, you can find my contacts in my profile here, and then we could share our experiences.
Best Regards
