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I understand where you're coming from on. My broker charges ridiculously high commissions on the micros and it was a deal breaker for me, unfortunately.
Another option to consider is switching to a broker that has stock/etf trading and trading the SPY ETF. TD Ameritrade, E*trade, and Charles Schwab all offer commission free trading now. This would be a good way to trade similar size as 1-2 micro contracts, without the excessive fees AND with great liquidity as SPY is the MOST liquid ETF in the world.
You can short if you have a margin-approved account. SPY is very liquid and thus very easy to short.
I quite like TD Ameritrade’s platform thinkorswim, and now with zero commissions it is an excellent opportunity to learn how to trade without paying tons of commissions/fees.
Interesting idea. I'll look into it! Even though I use Infinity Futures, I still do pretty much all of my analysis on TOS. I just never funded my account....yet.
1R is an R-multiple which is a way of tracking your risk vs reward on a trade. So if you are trading the MES and your stop is 2 points away, your risk per contract is $10.00. If you are trading 2 contracts your total risk would be $20.00, so if price moves in your favor 2 points and you close both contracts to lock in the 2 points per contract, your profit would be $20.00 and that would be 1R, you made as much as you had risked. if you made 4 points per contract you would achieve 2R. Its just a flexible way to track risk-reward across all types of instruments.
I'm really tired today so I hope that makes sense and I didn't mess anything up. Also remember I'm in a similar boat as you and just recently scaled up beyond 1 contract, I just wanted to share my experience with you since I suspect you'll enjoy scaling the MES more than jumping to the ES right now but to each their own, and in the end the final decision is up to you. Best of luck!
Makes perfect sense. Thanks for the explanation! For now I'm sticking with one micro contract but I will practice on my workdays two lot trades on sim so I can get an idea of it better. Good luck!