Trade June indices as well as June currencies!
Between bank failures and rollover, mini SP traded 6 million contracts yesterday and approx. 4.5 million today. Daily range ( high to low) was near or above the 100 points for the mini SP!
The injected volatility back into the markets make this a different playing field than we had few weeks ago…
Few pointers below, Hope it helps.
*Expect the unexpected…
* Have an idea of what you are looking to do, keep in mind possible risk and have a game plan. Now more than ever, plan your trade and than trade your plan!
* Think money management, hedging risk while you are still trying to figure out how to profit.
* Know what is going on, reports, current margins, current limits and more.
* Consider short term options instead of futures and/or MICROS
* Trade smaller. The bands are much larger. Watch the VIX.
*While I have no idea were the market is going from day to day, minute to minute, week to week etc. I do know that in the past, some of the sharpest and largest rallies were short covering after a large sell off. More often than not market sell offs and volatility like we are seeing do not end up as V type of action but more like U or W when it is all said and done.
* DO NOT assume anything…if you are not sure, contact us and we will try our best to assist with the combined, vast experience we have here as a team.
My colleague, John Thorpe, Ex floor broker, contributed the following on the VIX and the VVIX:
We recommend all stock indices intraday traders to keep an eye on the VIX for directional clues and study, many of you have access through other means to view this critical trading barometer, VIX now trades 5 days per week ,23 hours per day. if you need to add the VIX data to your trading platforms , it’s 3 bucks per month, penny wise and pound foolish if you don’t. Contact your broker on how to add the Volatility Index traded through the CBOE to your trading platform
If you are looking for other reference material please contact your Cannon Broker for lists of solid, informative and helpful trading tomes
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