futures, EMINI: web sites for learning

[def]

I haven't discussed margin for Euro or Asian futures at this point but I wouldn't be surprised if it is rolled out worldwide once it is adequately tested in the states and provided it is ok via the local regulators.

 

[elon]

I read through most of this subject, but I could not see any url's for good interactive CHAT ROOMS, anyopne has good experience with a nice chat room?

 

[elon]

Perhaps replying to my own message but I found this article very valuable and worth reading by anyone who daytrades stock indices - capturing trend days:

http://www.mrci.com/lbr/trendday/index.cfm

 

[trader777]

You should be able to find the following margins at almost all futures brokers.

$2500 per contract for daytrading emini s&p
$5000 per contract if you hold overnight.

Starting with 5k does make it hard to make money because you have no buying power. However, I have seen several people win with 20k.

 

[base-hitr]

Originally posted by trader777
You should be able to find the following margins at almost all futures brokers.

$2500 per contract for daytrading emini s&p
$5000 per contract if you hold overnight.

I've shopped futures brokers recently and your figures look like they're based on the old CME overnight margin requirements (recently lowered). Most brokers are comfortable with daytraders having 50% of the overnight margin requirement (currently ~$3,900 for S&P500 and $4,100 for Nasdaq100) for each contract traded so $2k/contract is common for intraday trading.

It seems that some brokers don't care about the long term viability of the account and will let you open small accounts (< $10k) and trade multiple contracts. Those brokers tend to have higher commisions.

 

[itrade1]

I agree 20 k is more than enough to start trading e-mini's. The overnight is $4,313 per contract and if you just scalp or Intra-day swing trade some firms will only require $1,000 per contract or so in your account. I know PFG Best which is Walt Bressert's company will give you a 30 day trial on their software. It's great because it's real time and they start you out with 50k of play money and you can execute trades just like the real thing.

Good Luck,

Scotty

 

[liquidtox]

Problem with trading emini intraday is that there is no reliable lead indicator as they themselves lead the stocks.

 

[tampa]

...but isn't that the point?

When you trade the e-mini, you are trading it, and it alone!

 

[elon]

Thought some of you may want to have these support and resistance in mind.

I e-mail my clients almost daily updates as far as what their homework should be every morning before the market opens, reports, levels and some educational info.

If anyone wnats to get these e-mails - send me a note at: info@e-mini.com

S&P H NASDAQ H DOW H BONDS H

RESISTANCE RESISTANCE RESISTANCE RESISTANCE
1,117.00 1,562.00 9,850.00 105.20
1,110.00 1,535.00 9,823.00 105.11
1,106.50 ******* 1,510.00 9,795.00 ******* 105.02
******* 1,100.20 1,498.00 ******* 9,740.00 104.23
****** 1,094.00 ****** 1,480.00 ****** 9,702.00 ****** 104.12
***** 1,090.00 1,463.00 9,664.00 ***** 103.31
***** 1,084.00 ***** 1,441.00 ***** 9,622.00 **** 103.23
*** 1,080.00 *** 1,428.00 *** 9,604.00 *** 103.16

CLOSE 1,077.00 CLOSE 1,415.00 CLOSE 9,593.00 CLOSE 103.10

SUPPORT SUPPORT SUPPORT SUPPORT
*** 1,072.50 *** 1,401.00 ** 9,556.00 ** 103.02
**** 1,068.20 **** 1,382.00 *** 9,503.00 **** 102.25
1,062.00 ***** 1,370.00 ***** 9,460.00 ***** 102.16
***** 1,057.20 1,348.00 9,402.00 ****** 102.05
****** 1,051.00 ****** 1,321.00 ****** 9,348.00 101.28
******* 1,046.00 ******* 1,290.00 9,300.00 ******* 101.18
1,039.50 1,262.00 ******* 9,235.00 101.06
1,031.00 1,228.00 9,177.00 100.28

 

[elon]

the numbers format was all messed up - sorry for the display, but the numbers are good!