Beginer Help on ES

Discussion in 'Index Futures' started by Ninjutsu, Jul 25, 2011.

  1. Ninjutsu


    I am new to trading and want to start trading in a few months. I just want to make sure my research is right for the S&P 500 ES.
    1. There are no daytrading rules on ES like on stocks ie. 25,000 in account correct?
    2. When I place an order to buy a contract at say 1310, if I sell at 1313, I just made 150.00 minus commissions correct?

    Using 1310 buy in as a base. I win or lose 12.50 per tic or 50.00 per point. 1312 I sell and get 100.00. 1308 I sell and lose 100.00 minus commisions from both? If I buy 2 contracts then just double both in either direction. Just want to make sure I understand this right.

    3. Any good broker/platform recommandations for the ES?

  2. 1) Correct, pattern day trading does not apply to futures.
    2) $50/pt, $12.50/tick on the ES. Your math looks good. Numbers grow (or decrease) x the number of contracts being traded.
    3) I suggest Open ECry but you should demo a handful of brokers software to get a feel for them and see what you think.
  3. sjb145


    Yes your numbers look correct. You will also need to take slippage into account, though this is probably not an issue with the ES.

    I use Interactive Brokers ( as my broker. From your question I assume you are interested in day trading. Low commissions are really important if you want to day trade, so keep that in mind when you choose a broker.