ES mini futures ahead of NFP release

Discussion in 'Index Futures' started by farmerjohn1324, Feb 5, 2020.

  1. I'm going to test this strategy. I am guessing that the unemployment data and NFP data will be either better than expected, or at expectations. I'm just betting that it won't be drastically worse.

    So I'll go long the s&p emini future and plan to hold for 1 or a few days.

    This is all still fake money.

    My TradeStation account won't let me place the fake trade on my SIM account, giving me the error of "Invalid symbol ES for the asset type FU".
  2. After the holidays it typically ticks down for a couple of months.
  3. SunTrader


    Is your account for futures or just equities because even in sim mode it matters.
  4. I thought it was both.
  5. news reports like labor work reports doesn't effect daily price movements much.
    it's mostly market mechanics for daily moves. all techical
    don't waste time on labor reports or anthing trading 'futures'
    individual stocks..sure things like earnings release dates are importaant
    individual stocks in percentage can easily lose 50% or 10% easily in earnings dates.
    the entire market index in percentage barely moves 1-2% in a day. or no more than 10% in a week. 10% is a lot for index futures but nothing in stocks

    Here's a recent example of a >1% move based on a jobs report.

    1% isn't much in real terms, but when combined with leverage, it can be.
  7. futures are derivatives of stocks. stocks like anything there is a wider spread. and 1% is not even spread. it's 5% spread between bid and ask

    there used to be wider spreads and daytraders made more money with less trades. 1/8 spreads is just more easy money and 1 penny spreads.

    some illiquid stocks spread is even bigger.
    a 1% spread is nothing in buying things. even 10% is not much in savings.
  8. The spread of ES emini is 0.25. 3342 vs 3341.75 (0.007%).

    The spread on SPY is 333.76 vs 333.71 (0.01%)
  9. SunTrader


    Never assume. Anything.
  10. trdes


    No, TS separates Futures and Equities account, so if you signed up for an Equities you cannot trade futures, you would be limited to SPY.

    In addition make sure you're on the right contract for ES which is currently (ESH20).
    #10     Feb 6, 2020