CBOT Mini Sized Dow Future-YJ

Discussion in 'Index Futures' started by Pumpanddump, Jul 5, 2003.

  1. I am interested in learning motr about this contract.

    I am a newbie. My guess is that if it is a $2 dollar contract, it would be a, for example, $2 x 9,000 (arbitrary number)=$18,000 buy order????????

    I have heard that the buy value is actually at or around 5-20 percent of that value?

    I want to learn about these contracts and I thoguht this would be a good place to start.

    Can you guys tell me where I can trade such contracts?
    Where is a good place for me to go for real time quotes?

    I really appreciate it.
  2. the 2 dollar contract no longer exists. ym is the current dow emini contract. 5 dollar increments.


  3. jay567


    go to www.cbot.com to learn more about the mini dow contract.
    ib is a good place to trade.
    i use ensign with an esignal data feed.
  4. Yes, the $2 Dow contract was discontinued. Unfortunately, there was not much interest in it. However, I think it would have been a good "training" contract for new futures traders had it flourished. Unlike stocks, where the trader can take as few shares as he wants, futures require the trader to take a minimum of one contract. For many of the less-capitalized traders out there, this meant taking on bigger size than they were used to when they were trading, like, 200-300 shares of stock. For example, one ES contract is the same size as 500 SPY shares. One NQ contract is the same size as 800 QQQ shares. So, at 2/5ths the size of the $5 contract, I think YJ would have been a good stepping stone to the bigger contracts, like YM, ES, and NQ. The new trader could have learned to use scaling-in and out, and the inevitable mistakes that a newbie makes would have been less painful with the smaller size. Too bad it didn't last.

    Regarding YM quotes, I use eSignal and am very happy with the feed.

  5. Although YJ is not longer around, YM is a good alternative....
  6. To trade the YM what are the best charts to watch etc??

    Obviously the DOW would be one answer but are there any other unobvious movers of the YM that the newbie would not think to watch??

  7. i use nextrend for the YM charts. i chart the DOW , YM, and the 5 most heavily weighted dow stocks.