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I think the MICROS are a great tool for learning, making the leap from simulated trading to live trading and as possible hedge when trading the regular mini sized contracts.
Volume so far is impressive.
My favorite is the MNQ ( MICRO mini) as the reg. mini nasdaq could be a bit much for traders with accounts smaller than 10k.
The same support / resistance levels we publish daily for the large contracts, apply for the MICROS as well.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
Thanks Given: 281
Thanks Received: 389
I am looking for a second brokerage firm and currently visiting Los Angeles... So is it possible to request an appointment for a personal tour of the firm? This Friday July 19th around 10:30 am ET?
Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
Be happy to, please PM me and we can set it up, chat on the phone first and have you over for coffee and a visit.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
You are a humorist for sure. But the hallmark of a true comedian is the subtle truths they weave throughout the narrative. CME makes the participants watch videos about futures trading, but they don't actually promote good trading.
Why?
We are chickens in a den of foxes! LOL. They want us to take irrational risks and overtrade.
This being said, they could have done a real service to the Micro contract traders by encouraging them to "trade responsibly" (sounds like a beer commercial!) by setting up the contest like this:
Reach $3000 by the end of 5 days (just to keep them moving)
The trader with the lowest risk-adjusted return wins.
Trading volume makes the business of exchanges and brokers pay off. This is not inherently bad, but traders should recognize where their interests lie, and hopefully there can be a meeting in the middle.
But this contest, while it will be entertaining and it may help introduce the micros, is also probably going to reward some takers of long shots and high risk. The slow-and-steady type traders, who win in real life, will likely not do as well, and some bad lessons may be taught.
Not that it won't be fun to watch, but from the sidelines, not in it (for me anyway.)