Choppy ass market in S&Ps today. Pre-FOMC jitters.
I'm going to start slinging futures around again soon. Probably after Wednesday.
Need to make some extra fiat. If I can pull $2k a month out of the market that will be good enough.
$2k/month means averaging +$100 per trading day in profit.
$100 is two points on a single contract. I usually aim to catch 5-8 points of a move. More if it will give me more.
It’s 2023 and we have bitcoin now…
Bitcoin is honestly boring most of the time. I save it up, I don't trade it.
Right I’m saying trading was a fiat game
Trading is the pinnacle of the rent seeking middleman mentality of our modern fiat economy.
Extracting value from the market without adding any value. The only value I offer to the market as a trader is more liquidity.
Nonetheless, if I can earn fiat doing it and turn that into Bitcoin, I'm going to do exactly that.
Make that paper, turn it into real money.
You will not outperform hodling. And by providing activity in traditional markets you are keeping them alive longer
False on both accounts.
For one thing, I don't risk any of my own capital when prop trading. It's literally money for nothing.
Speculators are not the essential participants in a futures market, however, they do provide additional liquidity to the market which is important and in return, they get the opportunity, not the right, to profit.
Also, we would still have futures markets under a Bitcoin standard. That's not going away.
I disagree with you and think you probably do have some of your capital tied up one way or the other, especially with the tiny numbers you mentioned trading. I have spent many years in that world
Trading on a Chromebook... hope Google doesn't shut you out when further Bitcoin demonization inevitably hits.
