CME holding free Micro E-Mini 5-day trading contest

https://www.cmegroup.com/futures_challenge/challenges/183/landing?utm_source=par..._content=maincta07012019

Starts July 14

I also signed up for the CME emicro challenge.

sstheo 

Micro E-mini Madness (1% per day) I have been doing the "Funded Trader" route with TST, OneUp/MES, and LeeLoo, for the past few years. I have a journal on my journey with MES (. In that journal I got some comments that helped open my eyes to the benefits of the new CME Micro … I started this new Micro E-mini trading journal last night. My goal is 1% per day trading with the new CME Micro E-mini contracts: MES, MNQ, MYM. I am starting with $1000 live funds and will try to take it to $5000 in 165 trading days (8 months) with just 1% per day. At that point I will strop trading the micros and will use the regular ES, YM, NQ E-mini contracts. I will use a maximum of 1 contract per $500 in my account. Starting out, I will try to get 1% or "just" $10 per day and grow that. My total daily profit at 8 months should be $50 per day. This may seem small, but remember that $10 is the equivalent of $100 on the ES. $50 is the same as $500 in the ES. Here are my reasons for starting the journal: Show that people don't need the combines of TST, OneUp, LeeLoo, Earn2Trade, etc in order to get started trading. Make the public accountability high enough that I follow all my rules! Show that SLOW GROWTH is still highly profitable long term You are welcome to follow along to see how it goes. I promise to be fully transparent. Steve

Good luck, Steve. Maybe not possible to find opportunities every day? So weekly goals will be less pressure? Maybe leverage more at the beginning and use multiple entries and no stops (well, max loss stop strategy). Be flexible and let the some of the position run/ leave as a swing.

I traded ES Micro for 2 months now and i think its a great learning experience, I dont see much of slippage like people mentioning in the forum

ZCars 

Good luck, Steve. Maybe not possible to find opportunities every day? So weekly goals will be less pressure? Maybe leverage more at the beginning and use multiple entries and no stops (well, max loss stop strategy). Be flexible and let the some of the position run/ leave as a swing.

Yes, I agree. Good observation on the daily goal. My implied true goal was a running AVERAGE of 1% per day. The spreadsheet I post in my journal has an average column across the top.

Additionally, I will start to use a second position soon and try for larger winners.


.

https://www.cmegroup.com/futures_challenge/challenges/183/landing?utm_source=par..._content=maincta07012019

Click the link above to enter the 5 day challenge from CME.

You can trade up to 10 contracts each of MICRO es, ym, nq, and rty. Also known as: MES, MYM, MNQ, M2k.

You have a simulated $100k account and can trade a max of 40 contracts simultaneously until Friday.

Prize money awaits the traders with the biggest balance at the end of the week. I could not find any other trading rules.


.

As of this moment, the leaderboard says there are 1,416 participants.

Here is the leader board after the first 20 minutes:




What caught my attention is that right out the gate is appears that most traders are wrong in their trades. Only 12 of 47 traders are profitable out the gate. That is about 25%.

Let's see how things change over the next 5 days.

My goal is to be in the top 50.



.

Yeah!

After 30 mins of trading I went from place 272 to 11-16-isch.

Was 4 X 10 contract long at start, but swapped to 4 x 10 short.

Trading is fun in competition. Especially when it doesn't involve real money!

Good luck with this.

I wonder how many will trade this simulation with the full number of contracts that the sim balance of 100k will allow, rather than the much smaller size that they could trade in real life. Will the eventual winner will be someone who controls his/her risk and shoots for consistency or someone who goes for the big win and shoots for the moon. Hmmm.



Still, I hope that anyone who is in it finds some good from it in terms of experience, one way or another.

This is definitely no criticism of anyone's choice to participate. It will be a challenge that is hard to succeed at in the face of all the competition. And it may help popularize the micros, which will benefit many traders.

It will be good to follow the results, and I will applaud the winner.

Bob.

After 45 min I was in the number one spot. That was fun.

Some guys are NUTS when they trade, and I will gladly give up my spot. I have a life to live. Currently at # 28.

But I will keep trying this week. Just have to hang on... Perhaps everyone else will self-destruct...