Analysis by Neutral Guy

Quote from mishwar:

........................

where is ES live from ? NYSE ? CBOT ? CBOE ? CME ?
i have no idea .. i tried some time back without success ..


mishwar
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Mishwar,

ES is traded at the CME. Visit the CME website and read all the info about ES and CME rules. It will be of much help to you.

If you are serious about learning to trade the ES, you need to start using a good 'simulator'. Knowing what to do is not enough. Getting good fills is very important in trading ES -especially in small timeframes like you are trying to do.

Since you are paper-trading, there is really no reason to trade in 100 lots :D. I have traded ES nearly everyday since the contract started trading in 1997/98 and I can assure you that when you are ready to trade 100 lots, liquidity would not be one of your major concerns (technical glitches and broker solvency/stability would be larger concerns).

Good luck.:)
 
guys, trying to get live data feed service .. im trying strategyrunner free trial...
please let me knw if anything else is worth considering ..
i started here just 6 days back with S n P cash index trading and then switched to ES since many said many things bout that :P

now again hearing many things. . so considering moving one more step with live feed and charts .. if poss.. lets see what happens .. its exciting for sure

regards
mishwar
 
what is the spread for ES like .. is it always 0.25 most days ?

for example like

1313 (Bid)
1313.25 (ask)

and what is the quantity bid and asked for normally ?

thanks
mishwar
 
23 % installed a charting software .. dont kno if it has live quotes .. lets see .. recommended by someone .. and expecting a mail from another provider .. soon shd be live .. ;-)
lets see

thanks
mishwar
 
i started this with innocent intentions.. it has come quite far already .. questions and critics moved me from cash delayed quotes to ES quotes and now almost to real time .. except the connectivity delay .. but lets see im crossing my fingers .. shd be good :)
and then it will be time to see what happens :P


thanks
mishwar
 
mishwar.......u should start on mini dow YM.......when u lay your money on the line........if u cant trade that, don't risk your money on other emini's......it is volatile, but if u want to get in over your head quick try the es nq......50 / pt...20/pt.....take ur breath away when you get in the bind.....5 dollars per pt is a cake walk compared to others.........get a demo account for free 30 days........if u can't do it demo don't try realtime or u will be very disappointed instead of just angry ........intraday training requires realtime stuff streaming charts. ....otherwise it is the blind leading the blind.....and u will be the one losing when realtime reality slaps your face after dead charts make you feel as if u found things no one else could not have seen else all would be rich....your secrets not to talk about...special patterns nobody ever talks about..........goldmine in a few days......NOT .someone else gets your gold and all u get is the shaft.........best wishes.......not good luck as luck is no part of it ........it is all hard work...... HARD COLD FACTS......
 
Reasons why people don't take you seriously:
- You're trying to papertrade ES futures by using delayed quotes on the S&P cash index. Why don't you try to papertrade the SPY instead. SPY is an ETF that tracks the S&P index. I'm sure there are sites out there that offer free real time quotes. And trade 100 share lots (keep it real).
- You're papertrading with 100 lots and building positions of 300+lots whereas most guys start off with a 1 lot. The only traders here that take 300+ lot positions are guys or institutions with 10 million+ accounts. And I doubt anyone scalps that much size.
- You ignore commisions and slippage costs, which alone can wipe out your profits or shrink them considerably.
- You say that commisions/taxes eat up too much of your profit. In the US its no different. Scalpers propbably keep 25% of their gross. Broker takes half in commisions and fees (don't forget slippage too) and goverment takes the other half in taxes.
- You're giving up Sensex (the hottest market in the world) for S&P (the dullest market in the world).
 
Mishwar, I have discovered from my journal that the intraday trading is extremely time consuming and I think takes away a certain "quality "of life. I will have days when I day trade in my journal, but not everyday now. The correct way to trade I think is to position trade first, when it's not so fast paced and then perhaps shorten the time frames if so desired. I am of the belief that new traders get eaten alive in the day trading world. I was able to turn a profit because I was adding positions, but not getting overextended. Most day traders I think probably trade the same size each time and that is not the way to trade unless you can be right a majority of the time. I noticed that you had incorporated the increasing positions in your strategy and that can be very profitable if you have the capital (the only true edge in trading). I appreciate your nice comments towards me .Thank you very much and I have enjoyed your journal. Keep em comin!
 
guys, can someone tell me if sierracharts free trial works only during live markets ?

i installed it with the hope of trading live today... pl help me

thanks
mishwar
 
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