where to learn basics of futures trading

If I was a stock trader and knew how to trade, I would just paper trade SPY and ES simultaneously.

Also QQQ and NQ

And DIA and YM and get a feel for the differences.

I haven't checked lately, but last I did one ES is about 93k.

So that's 1 ES for 90k of SPY.

The spread in ES is not even a consideration since it's almost always one tick ($12.50)

The best info can be found at CME.com, I wouldn't waste my time or money on any other info for sale.

It's the margin that will get you. A lot of things you can get away with in stocks will not be tolerated in futures.
 
The basics of futures trading is that it is a zero sum game where the loser pay the winner. :)

How leveraged you want to be is your choice.

As mentioned several times already, all the information you are looking for both in terms of the nature of the futures market and the contract specifications can be found on CME`s website.

If you have a successful trading strategy already, I would not be in a hurry to change it. You may be in for a surprise.

Learning to trade futures should be done in your spare time while maintaining your current strategy (if successful), in my opinon.

There are some people who say that stocks are easier to trade than futures. I have no idea what that even means and I never tried to day trade stocks, but maybe there is something to it. :)
 
schulzey, I believe you are very smart to know what leverage you can take and what is simply too ridiculously large to trade. Yes, one contract of the E-mini S&P 500 has a market value of roughly $60,000 at this moment. Just multiply the current market price times 50. Overnight margin is usually $4,000 per contract (can vary with every broker) which means that you need this cash balance to hold one contract after the session close. You are basically trading $60,000 with just $4,000. The problematic you explained with stocks and their day trading limit is exactly what annoys me a lot, too. It is psychologically very pressuring to trade with this rule and not having the flexibility to leave a trade as you wish. Each time I want to close a trade, I am being very reluctant because I do not want to use up a day trade just in the case I need them for a more difficult day. Unfortunately, the only alternative you have in the US is to jump right into the futures market which, honestly speaking, is a joke for most retail traders.

Are you situated in the US or do you have friends or family members outside, if yes? Here in Europe we can trade so-called CFDs which are instruments that behave just like futures contracts, but do not have any restrictions. You can go long or short, day trade at will, use minimum sizes (the S&P 500 is just a mere $1,235 or so per contract at current price levels). Perhaps you have someone who can open an account with a CFD broker for you to give it a go. I traded with CMC Markets and am very pleased with their service.
 
otherwise, when I occasionally read through the stock forum, those poor guys have all kinds of things to deal with the futures trader can just ignore.

The great thing about ES on globex is, the little one lot trader is on the same level playing field with all the big boys.

Even JP Morgan can't get filled before me if I am first in line.
 
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