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Yeah, we have been pushing the product group for some time. We will likely get something in the next few months.
I focus most of my effort when I'm not trading and while I'm trading on watching how others are doing and attempting to intervene to help them deal with the risk associated with trading (on a best effort basis). What I have noticed is that most folks are really penny wise and pound foolish when it comes to how risk is managed. I hear folks trying to push for lower commissions and the ability to fund with lower equity while trying to trade something like CL using lower-class data sources, charting, etc. It then is not a surprise when within a few days of trading, they have given up 15-25% of their account in losses.
With the micro-products, the risk still exists. The emotions associated with winning and losing are still there, but the risk is much lower. Yes, micros cost relatively more to trade, but overall, it is my belief that traders would be ahead if they got off the bigger products and simulators and traded those live. Once you see a positive expectancy and once a trader has executed enough trades to get over the anxiety of losing, then you can move to the bigger products as a career.
We will keep pushing and we will likely need public support to do it.
FT71
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
@FuturesTrader71, please keep pushing. Let's say a trader has a $20,000 account. If he wants to swing trade the ES, if we assume a typical stop size of about 10 handles for an ES swing trade, that's $1000 on 2 contracts only, which is really the minimum for such a trade, and that's just too much risk as a percentage of the account. So a micro would be a great way to allow more granular sizing for day trades, as well as opening the possibility of trading multiple contracts on swing trades and being able to actually work around a position doing so. Please keep us posted and if we can do anything let us know!
