With that last minute drop, eh?
1st Day Out Rather Rude For The Micros
- Thread starter Scataphagos
- Start date
Actually, they performed quite well. The drop was seen in both the ES and NQ, as well as their respective micro versions. The drop started at 16:48:55 for both instruments. The low point was also very close between the micro and their respective mini contracts.
I would say they did amazingly well for the first day.
I would say they did amazingly well for the first day.
I wasn't at the screen to watch it, but my charts show it starting in the 20-second bar ending 14:58:40 and ending 14:59:40.... 24 point drop in only 1 minute, and just before the close.
My point about it being "rude" was the impact on what were likely new traders... taken aback by this rapid plunge... likely overleveraged and perhaps figuring on holding overnight.
The indexes and futures contracts themselves were OK.
Well, the drop only ended cause the markets closed.. LOL Its a very rare occurance actually. Usually they drop at either 16:00, when companies release financials, or even at 16:30, once they open again after the 15 minute halt. But to drop in this last minute I thought was news related and related to Trump.
You are probably right that lots of new people trading the micros were caught off guard. Some perhaps bought some contracts as a long term hold (which I think these will be excellent for). But these same people probably never even had a stop anyway.
Yeah, I wish the micros were out when I started trading, because I don't know if you missed it, but the ES YM and NQ all did the exact same thing with the tariff headline at 4:58 PM ET. Except in the case of NQ, the drop started at 4:58:58 PM ET and first up tick was about 45 seconds later at a 60 point drop. So who fared better, do you think, in that scenario?
If someone fared better, probably not by much.
I was thinking about the shock of seeing a nealy 1% drop in the index in 1 minute... likely against leveraged long noobs who probably didn't have stops in place.
You know, they finally get a chance to play.... and get clobbered the 1st day.
WTF dude, really?
The micro (class) ES is going to dot-shot because of lack of trades/volume, but it's arbed against the big. Do you really think the 10 or whatever MMers are there to spec-trade micros?
The BO is within a tick of the big.
No futures trader would actually think otherwise. God this place is clown college.
Dot shot. Look like tick charts. A single trade over n-period.
You mean
a 10 Micro to 1 ES
or
50 Micro to 1 SP
using very high end co location auto spreaders ( way above TT and CQG spreaders I guess at the top end of the town
always wondered about this on CQG Auto spreader sim it looks doable but in reality!