I am trading the FESX in sim with Velocity Futures and I was hoping to connect to a few traders that trade it live. I am need to figure out when it makes sense for me to transition over from sim.
So far I have been profitable for the past 9 weeks and I average 6-10 points a day on my current trading plan. There were two days that I wasn't profitable, coming to an average loss 3 points/day (so 6 points lost). There are times I will enter the market and not see the follow-through I hoped for, so I will exit out of the market at break even. This might happen once every other day.
I have a few questions:
1) What is the equivalent of a 5tf but in the FESX? What is the average scalp/swing trade targets that people go for in this market?
2) What kind of slippage should I expect? How does this differ for a market order vs pending order (and then how does it differ with a stop order and limit order)?
3) I am over wifi...is this a terrible idea? Should I get a wired connection? My ping is 17ms-23ms but I can get packet loss.
4) I know that in ES, averaging 2 pts a day is considered "good" (or 10 pts/week). What is the equivalent in the FESX?
5) I was planning on starting with 11k euros and allow a draw down to 10k before I were to switch back to a sim account, trading one contract. Then when I would be feel comfortable, I would deposit another 1k euro and repeat until I am fully comfortable and profitable. Thoughts?
6) What are other considerations I haven't thought of?
Thank you for the help in advance! I am new to trading.
So far I have been profitable for the past 9 weeks and I average 6-10 points a day on my current trading plan. There were two days that I wasn't profitable, coming to an average loss 3 points/day (so 6 points lost). There are times I will enter the market and not see the follow-through I hoped for, so I will exit out of the market at break even. This might happen once every other day.
I have a few questions:
1) What is the equivalent of a 5tf but in the FESX? What is the average scalp/swing trade targets that people go for in this market?
2) What kind of slippage should I expect? How does this differ for a market order vs pending order (and then how does it differ with a stop order and limit order)?
3) I am over wifi...is this a terrible idea? Should I get a wired connection? My ping is 17ms-23ms but I can get packet loss.
4) I know that in ES, averaging 2 pts a day is considered "good" (or 10 pts/week). What is the equivalent in the FESX?
5) I was planning on starting with 11k euros and allow a draw down to 10k before I were to switch back to a sim account, trading one contract. Then when I would be feel comfortable, I would deposit another 1k euro and repeat until I am fully comfortable and profitable. Thoughts?
6) What are other considerations I haven't thought of?
Thank you for the help in advance! I am new to trading.