I noticed on the Trade Floor Today - quite a few people mentioned SPY FD’s
While everyone’s investments are their own, we each have our own risk tolerance I thought I would share a few experiences and thoughts with SPY FD’s.
I understand their attractive price points and potential for massive % gains in a short amount of time I play them often. One thing to keep in mind though is with SPY (other tickers as well) IMHO, these should be quick in’s and outs - If you are restricted by day trades I would recommend checking each day if you have open slots available.
If you do - @thots_and_prayers has an amazing challenge going based strickly on quick in’s and out’s.
https://forums.ascendedtrading.com/t/get-in-degenerates-we-re-going-the-speed-limit/13638/110
Most if not all the Callouts related to Spy on the community call out forum are going to be related to Scalps (quick in and outs)
If you are going to go long with SPY I would say 2 weeks - if not longer is the preferred method also ensuring you have enough capital to buy down if you need to, and or a willingness to cut the bleed ie; Stop Loss.
SPY is a very popular ticker, and I have seen people make fortunes on it and lose them. I can definitely understand and relate to seeing all the moves and excitement in the discord and wanting to be involved or just feeling left out - but keep in mind good practices and stable habits will carry you through the long term. It is a game of survival - you gotta play your game - don’t focus on others or their gains - focus on your port what you can afford and what makes sense to you. Chances are no one on the entire server plays every play - If you can raise your port a few percentage a week - you already ahead of most the traders out there take pride in it, and keep it up. .