/esz3 or /nqz3 for a beginner to futures?

Quote from Dominic:

Every response to my question has been dripping with fear; is that to say that most of you here don't make any $$$ trading futures? 5 contracts is not that much too trade and I have already defined that taking a 2 point hit or $500.00 is fine with me. I have taken plenty of $500 hits in the equities as a part of trade and don't except futures to be any different.

Paper trading is fine but your emotions are no where close to what they are trading with live money.

Would anyone care to post what size and stop loss they are currently trading?
More...

It depends on what you are trading and what holding period.
Example: Swing Trade ES = 7.25 stop loss to make 20-40pts!
NQ = 18.50 stop loss to make 60-80pts!

Day Trade ES = 2.50 stop loss to make 5-6pts!
NQ = 8.00 stop loss to make 15-30pts!

U can do dis hommie.
just peep my journal homes.

big ups to U fo makin it happen.

Blaze one fo Johnny
 
Tripping with fear? Ha ha.

Like the Ocean, you better fucking fear it and respect it. You have not even been in a canoe and you are going to try to guide an oil tanker.

Since fear aint a factor, swing 20 contracts.

If you cant make money trading one contract, you will not make it trading 5. You better show yourself you can make money with 1 contract. MOST cannot.

Hell, let it ride.
 
dude if $500 losses is peanuts to you and you just take them without even noticing then you don't need feedback from us.... you should post at some sort of an institutional trading forum or something... or at the prop forum... where money is air and volume of a million shares a day is a small breakfast... it all depends on your account size. If you trade big size anyway then 5 contracts is nothing.

With eminis, unlike nyse stocks, you can implement your strategy on 2 contacts or on 50 contracts, it's all the same, liquidity will accommodate you no matter what your size is (within certain metaphysical limits). so do what works for you and choose number of contracts according to your risk tolerance.

however i once again must reiterate, that in my opinion, if you take 2 points stops on the NQ, you'll do nothing all day except take stops. you need a wider stop.

Cheers
50
 
He never said e-minis..... 2 points = $500.00 in the big in's.

Michael B.



Quote from 50 cent:

dude if $500 losses is peanuts to you and you just take them without even noticing then you don't need feedback from us.... you should post at some sort of an institutional trading forum or something... or at the prop forum... where money is air and volume of a million shares a day is a small breakfast... it all depends on your account size. If you trade big size anyway then 5 contracts is nothing.

With eminis, unlike nyse stocks, you can implement your strategy on 2 contacts or on 50 contracts, it's all the same, liquidity will accommodate you no matter what your size is (within certain metaphysical limits). so do what works for you and choose number of contracts according to your risk tolerance.

however i once again must reiterate, that in my opinion, if you take 2 points stops on the NQ, you'll do nothing all day except take stops. you need a wider stop.

Cheers
50
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I said I plan on trading 5 contracts and plan on excepting a 2.0 point loss ($500) from S&P eminis. My original question was whats the best e mini to trade with the above info. I have gotten just about every other comment or advice yet the question still remains.

I posted what I plan on trading and losing.


Why dont some of you more expirenced traders of futures who have so much info to give post what your trading stragergy is with some hard numbers.
 
Quote from Dominic:

I said I plan on trading 5 contracts and plan on excepting a 2.0 point loss ($500) from S&P eminis. My original question was whats the best e mini to trade with the above info. I have gotten just about every other comment or advice yet the question still remains.

I
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donno dude... i just a madafakin p.i.m.p...

just kidding, as i wrote earlier:

YM is the most overshooting contract.
ES is the the absolute leader of the market.
NQ, therefore, is the contract to trade, since it's somewhere in the middle. It doesn't rinse as much as the ym and it follows the ES.


2 pts. ES is a reasonable stop. Let us know how it goes.

yo
50
 
What does 2 points and ES have in common?

2 Emini sp pts = $100.00

2 SP big contracts = $500.00

Am I missing something?

Michael B.




Quote from Dominic:

I said I plan on trading 5 contracts and plan on excepting a 2.0 point loss ($500) from S&P eminis. My original question was whats the best e mini to trade with the above info. I have gotten just about every other comment or advice yet the question still remains.

I posted what I plan on trading and losing.


Why dont some of you more expirenced traders of futures who have so much info to give post what your trading stragergy is with some hard numbers.
More...
 
Quote from Dominic:

I said I plan on trading 5 contracts and plan on excepting a 2.0 point loss ($500) from S&P eminis. My original question was whats the best e mini to trade with the above info. I have gotten just about every other comment or advice yet the question still remains.

I posted what I plan on trading and losing.


Why dont some of you more expirenced traders of futures who have so much info to give post what your trading stragergy is with some hard numbers.
More...

Actually, your original question didn't mention ES. But at this point, who cares? :cool:

Apparently, you didn't like my suggestion about trading all three in order to find out which you like best. But if you're going to trade 5 contracts and want to risk no more than a $500 loss with a 2pt stop, then your only choice is ES, i.e., a 2pt stop would not result in the same loss in the YM and NQ. So, which is more important, the number of points or the dollar loss?
 
Quote from ElectricSavant:

What does 2 points and ES have in common?

2 Emini sp pts = $100.00

2 SP big contracts = $500.00

Am I missing something?

Michael B.
More...

5 contracts.

I'm beginning to wonder if this is some sort of trick question :cool:
 
dominic just trade bonds or something... :D


what a boring day, either you got in at 9:30 or you got nothing to do except post at ET.
 
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