/esz3 or /nqz3 for a beginner to futures?

Yes of course......

Back to my question:

But if using 5 contracts why "all in" and "all out" in one fatal swoop?...what happened to scaling?

If he doesn't scale and he is the big player he says he is...then use 1 big contract with that 2 pt stop he talks about?



Michael B.



Quote from dbphoenix:



5 contracts.

I'm beginning to wonder if this is some sort of trick question :cool:
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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.
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2p X 5 es = 10p => 10p es = $500:D
 
yeah I know....why use e-minis ?

I know you get better fills, but the biggest benefit would be to scale with eminis verses the big ones.

It sounds to me he just uses 5 to enter and exit with.

Michael B.


Quote from nkhoi:




2p X 5 es = 10p => 10p es = $500:D
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Quote from ElectricSavant:

Yes of course......

Back to my question:

But if using 5 contracts why "all in" and "all out" in one fatal swoop?...what happened to scaling?

If he doesn't scale and he is the big player he says he is...then use 1 big contract with that 2 pt stop he talks about?



Michael B.
More...

Hey, I'm just trying to address his original question. I no longer concern myself with trying to prevent others from shooting themselves in the foot. If he wants to trade 5 contracts, it's not my money. :cool:
 
The reason why I'm using e-minis is because my broker, CyberTrader, has just introduced futures but only offers e-minis of S&P and Nasdaq 100.
 
Dominic,

Whats their commish may I ask?

Michael B.



Quote from Dominic:

The reason why I'm using e-minis is because my broker, CyberTrader, has just introduced futures but only offers e-minis of S&P and Nasdaq 100.
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Well, according to your methodology and good entries 2 points may suffice it is hard to say. May I ask if you implore a risk to benefit ratio?....and what might that be....do you calculate while looking/considering support and resistance. do you use some sort of combination of lagging indicators for confidence?

Michael B.



Quote from Dominic:

$2.50 per side per contract.
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No doubt there are others that post on this board that are by far more intelligent traders/individuals than I am. One common theme that I find is that these guys are forever running tests and testing models of trading software and think that they have or will create the Holy Trading Trader Software package that can predict what the markets are going to do. My answer to that is read the book called The Predictors. No one knows what is going to happen; even the rocket scientist.

Sure TA comes into play as a lagging indicator, lagging being the key word. How does TA predict that a bomb will be dropped tomorrow or some diaster or good news? The futures are driven by emotions from events; are the guys in the pits trading off of their computers or emotion?

I feel that TA is mostly useless; just look at all the experts on TV for years who are mostly wrong yet have more resources available to them than you and I do and yet still lose money. Wallstreet is just like a car dealership; the big guys are trying to off load or sell you something.

So answer your question: Yes I use risk management; thats why I used 5 contracts compared to 1-20 and yes, I do have 6 screen with charts on them but they don't tell me whats going to happen next; no one knows. plenty of wealthy have gone bust and the less intelligent and uniformed succeeded.
 
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