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Trading the new CME E-Micro's (E micro) MES, MNQ, MYM, M2K and other micros
They'll usually let you get by with 5K if you sound like you are serious. But I'm not looking at account size, but rather risk per trade. That is what you need to keep small if you are starting out.
...and don't want to blow up.
Can you help answer these questions from other members on NexusFi?
I am really hoping these provide a way to maintain live-trading if/when I need to step back from the major contracts to figure out a problem or work on a strategy. I've always treated sim as the real thing but there's no substitute for live-trading. This would bridge that "emotional-gap" tremendously at least for me.
As long as you keep the number of contracts low and not start trading 50 micros because you now have the ability to scale in/out. The mind has an amazing ability to trick itself.
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We trade using Al Brooks Price Action and record our entries/exits in public for accountability.
Thanks, you kind of blew my mind there. You make a great point and one that I hadn't considered. Testing one of my flaky automated strategies against the e-micros would provide a great live test, with very low risk.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
Updating previous chart
and another chart. The costs are so high in relationship to tick size I wonder how successful this will be. For the 3 contracts with the super small $0.50 tick size, you'll need 6.88 ticks profit to cover the commission at Tradestation on their standard commission schedule.
Previous deleted post incorrectly had Full Size ($2.40) and not eMini ($1.18 Commissions).
I wonder if small-exchange (assuming they get cftc approval) will have an edge by introducing lower fees to its members. Only speculating but I would think there would have to be some automated market-making partnership for liquidity on all these micros to get them to really take off, in general. seems like they would only be a tiny drop in a huge bucket so I don't see why they wouldn't do it.
Trading: Primarily Energy but also a little Equities, Fixed Income, Metals and Crypto.
Frequency: Many times daily
Duration: Never
Posts: 5,049 since Dec 2013
Thanks Given: 4,388
Thanks Received: 10,207
I suspect that they have a group of designated participants that will NOT pay fees if they meet certain market making requirements. Even if they don't remember these are NON-MEMBER rates. The non-member rate for eMicro EUR:USD is 16c and the member rate is only 4c. Plus members don't pay NFA fees, and the type of company who would do this probably has clearing rates of 10c or under. ie their all in cost is probably about 15c side. Very different to Joe Smith paying $1.72 per side through Tradestation.
We can get you started on FX with $250 on IG Markets.
It is not on our site yet, but we will add it shortly for the US markets.
Matt Z
Optimus Futures
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