I think it goes without saying that the Micros are meant for scalability and position/swing trading. Anyone trying to day trade these things are wasting their time.
Swing trading in futures, I would argue, is day trading. 2 - 5 hours vs. 2 - 5 days in equities. Scalping the Micros is too small change. So I would agree with Direct with that caveat / clarification.
Why is swing trading in Futures 2-5 hours? That's "day-trading". They very definition of swinging is long term. Why would it matter if it is an individual stock, or the whole index?
And scalping the micros is small change? Just trade a 10-lot. Watch how small that change can be when the thing moves in a direction for 40 points. What is the big difference between that and a single in the mini? (Aside from the commies, yes Oi)
Well that depends on how I average down. 1 contract at a time. Two contracts at a time. Three...or different combinations. But in general in the micro if I were going to consider 10 to 20 lots my max micro position then I think 5000 is a good figure. If just gonna trade 1 -3 lots max then I could get by with 2000 maybe 1500. But I gotta know how to trade....and use SL’s in either scenario. And this applies only to scalping 1 to 4 points not overnight..not swing trading...NOTHING but intraday scalping or intraday two legged swings. Flat before day session ends.
That is the same trap I fell into when averaging into the minis. Since the micros are the exact same thing, yer just facing the same inevitable disaster, just on a 1/10th scale.
It doesn’t have to be a trap. If it goes against a traders averaged in position x amount he should simply exit ALL Positions immediately then double or triple up and go in the opposite direction. It only a disaster if a trader hangs on hoping it will come back.