Friday, February 22, 2013

Fri. 2/22

2:00pm CST - I guess ZS1 system is taking a long weekend.  No signals there again today.  ZS2 did marginally okay with my poor execution of exits but had potential to do amazing.  There is some discretion involved with this new system, mostly on the exits, so I am bound to be critical of my performance going forward.  For the week, net gain +$1691.
ZS Contracts:8
Net $P/L:209

This news of a trader tax from Europe is concerning. I don't know if it will really happen but if it does, I can't imagine it not affecting USA traders because there will be less volume and liquidity in the markets. "A trade of a derivative would face a tax of one-hundredth of 1 percent. But that tax would be applied to the notional value, which can be very large relative to the cost of the derivative." This means a trade of 1 contract of ES would have a tax of $7.50 (per side or round-trip I'm not sure?). NQ would be $5.40, ZS $7.30! It's hard enough to cover commissions. This tax would change the game entirely.


  1. It would definitely be the end of my trading! As you say, it's hard enough to overcome commissions on these time frames.

  2. I have to look into this tax, my wife and I have seriously considered living in Europe; this has me very concerned.

  3. I keep calm by reading articles that hint at the difficulties implementing this...

    ... and then have panic attacks when I think about the impact on my minuscule edge.

  4. I trust the difficulties are many (although won't send me an email to confirm my account so I can't read that link)!