I made the switch this week from trading ER2 to ES.
9/4
1st day trading ES full time. Today's net is around $1300, so I may call it a day early just to get the win under the belt.
I made about 900 on the morning move up, tried to short it around 84, lost the 900, then made it back and then some with the 1300.
some observations:
1. it's much less jumpy than ER2. alternatively, slower to watch.
2. but then again it won't blow you out of your stops quickly like ER2.
3. the liquidity gives you much more time to react to signals. w/ ER2, I usually throw market orders out there to get the fill. but 90% of the time end up with unfavorable fills. I think today after the first few trades I used only limit orders.
4. it didn't take as long as I expected for the trading to chew through the 300-400 contracts ahead of me on limit orders, thanks again, I'm guessing, to the liquidity.
5. the signals I use work similar on ES as ER2, so that's the good news.
6. I position trade more, since...
7. I put on bigger sized positions than I expected. I started w/ 2 contracts, but upped it to 15 pretty quickly. which leads to...
8. higher commission costs than I expected. I'll have to wait and see if ES consistently chews through more commission than ER2. nothing scientific, just a feel.
9. ES moved more than I expected (I was expecting it to be like paint drying, but it isn't.)
so far so good. hopefully it continues. I like the reduced jumpiness of ES vs the ER2 since ER2 very easily takes out stops without the liquidity to get out of positions. wish me luck...
9/4
1st day trading ES full time. Today's net is around $1300, so I may call it a day early just to get the win under the belt.
I made about 900 on the morning move up, tried to short it around 84, lost the 900, then made it back and then some with the 1300.
some observations:
1. it's much less jumpy than ER2. alternatively, slower to watch.
2. but then again it won't blow you out of your stops quickly like ER2.
3. the liquidity gives you much more time to react to signals. w/ ER2, I usually throw market orders out there to get the fill. but 90% of the time end up with unfavorable fills. I think today after the first few trades I used only limit orders.
4. it didn't take as long as I expected for the trading to chew through the 300-400 contracts ahead of me on limit orders, thanks again, I'm guessing, to the liquidity.
5. the signals I use work similar on ES as ER2, so that's the good news.
6. I position trade more, since...
7. I put on bigger sized positions than I expected. I started w/ 2 contracts, but upped it to 15 pretty quickly. which leads to...
8. higher commission costs than I expected. I'll have to wait and see if ES consistently chews through more commission than ER2. nothing scientific, just a feel.
9. ES moved more than I expected (I was expecting it to be like paint drying, but it isn't.)
so far so good. hopefully it continues. I like the reduced jumpiness of ES vs the ER2 since ER2 very easily takes out stops without the liquidity to get out of positions. wish me luck...
