????? what am I missing... is someone jacking with him
Trading the E-mini: Results Comparison
- Thread starter GoldenEagleTrading
- Start date
Xela, you're describing the high and low of an ESU ten minute bar (in this case @ 10:40 ET August 7th). The high of the bar is 2474.75 and the low is 2473.00. Using your terminology, how many "points" is the range of that ten minute bar? When discussing this with an FCM who is a high pressure, fast talker, explain how the FCM knows exactly what you're talking about. You have to use the word "points" or "point" btw.
I would just say the range of the bar is "5 ticks" and be done with it. You on the other hand have to use the term "points"...which...you can't use because "point" and "points" only refer to WHOLE numbers.
EVEN THE CME uses "tick" and not "point" when discussing "E-mini S&P 500 Futures Quotes."
http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500.html
Check the web page..no mention of POINT or POINTS... only TICK is used. You're on the phone with an FCM, you are discussing pricing of the ES. Restrict your vocabulary to tick or handle please for highest accuracy. You can use the word "point" or "points" when discussing a 'range of prices', such as " Yesterday's Globex high was ten points above the previous day's close"
FCM's still use the term "handle" that's why THEIR web pages are linked in my last comment using such terms. Here's some stuff from a professional trader below.
Hobbs the cat, hard at work countering the misinformation common to boys and girls sitting in Mom's basement punching out incomplete or wrong info on trade forums.
>>>>>>>>>>>I am not endorsing this guy just as a reference >>><<<<<<<<<<<<
notice how this guy writes and uses certain terminology...
S&P 500 Futures: Last 11 Settlements in a 8 Handle Range
Thursday, August 3, 2017Thursday, August 3, 2017 Danny Riley
Yesterday was like the rest of the week. After trading in just a 3.25 handle range overnight, the S&P 500 futures opened the 8:30am CT cash session at 2474.75, up 3.00 handles, and printed a high on the open of 2475.75, before selling off through the morning down to 2463.25 going into 10:00 am cst, completing a striking 12.50 handle range.
about the writer:
Author: Danny Riley
Danny Riley has worked in the futures and options industry for 38 years, including the CBOT’s bond room, where he worked for several of the Market Wizards. He went on to build the largest volume desk in the S&P 500 Index Futures, serving some of the largest banks and hedge funds, the UBS program trading business, and some of the world's top individual traders.
https://mrtopstep.com/sp-500-futures-last-11-settlements-8-handle-range/
Trading Technologies interviewed Danny. Here's the interview:
https://www.tradingtechnologies.com/blog/2016/03/29/five-questions-with-danny-riley-of-mr-topstep/
Newbies, be very careful believing ANYTHING these boys and girls on this forum post. Check everything you read with your FCM or a professional, FULL TIME, trader.
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re:"A point is a single-whole-decimal move. Anything under a single-whole-decimal move, <1.x, is a tick."
That was the point of my original post; you can't use the word "point" when discussing the ES if the increment you are discussing is LESS than 4 ticks. Golden Eagle was discussing profit objectives and stop losses; If he uses the term "point" instead of what he might mean, say, "2 ticks" or "0.50 point" just avoid the use of "point" all together when you're discussing the ES, ESPECIALLY with an FCM. Use of the word "ticks" avoids ALL issues, and even the CME group uses that word exclusively regarding the ES when discussing their price feed.
http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500.html
The word "point" is not used, only "TICK" when the cme is discussing E-mini S&P 500 Futures Quotes.
If you're speaking of the YM, use of the word point is fine.
That was the point of my original post; you can't use the word "point" when discussing the ES if the increment you are discussing is LESS than 4 ticks. Golden Eagle was discussing profit objectives and stop losses; If he uses the term "point" instead of what he might mean, say, "2 ticks" or "0.50 point" just avoid the use of "point" all together when you're discussing the ES, ESPECIALLY with an FCM. Use of the word "ticks" avoids ALL issues, and even the CME group uses that word exclusively regarding the ES when discussing their price feed.
http://www.cmegroup.com/trading/equity-index/us-index/e-mini-sandp500.html
The word "point" is not used, only "TICK" when the cme is discussing E-mini S&P 500 Futures Quotes.
If you're speaking of the YM, use of the word point is fine.
Someone puked all over the last few posts I can't make it out...looks like blah blah blah point...blah blah blah handle.
Who gives a shit about ticks and points.... you should look at the % and absolute value... a point is not equal to another one...
1 point in ES is a similar move as 10 points in YM... both about 0.04%.
Contract sizing means they are more or less equal in trade size... 1 ES at 50 /point = 10 YM at 5 /point...
1 point in ES is a similar move as 10 points in YM... both about 0.04%.
Contract sizing means they are more or less equal in trade size... 1 ES at 50 /point = 10 YM at 5 /point...
The kitty cat is for some reason obsessed with this theme. It has been years since i talked to an IB or FCM about a trade of mine. All is done online now. So I could care less. Kitty seems worried about talking to Fcm and not using floor lingo....."Handle" is floor lingo used in the pits which have become fossilized much like myself and perhaps the kitty cat. LOL
I thought the same thing...I've made thousands of trades over the years and never had to " talk to my fcm " about any of them.