MES is $1.25 per tick as I previously mentioned (in this topic I think) not $2.50 so a full point (4 ticks) would be $5. MNQ is $0.50 per tick but there are also 4 ticks per point so that would be $2.00, not $1.00 So $5 vs $2 but MNQ is way more volatile, which is why it is my preference to trade.
I do not want absolutely to scare you, but rb7 gave you good advice by inviting you to study that link. Nevertheless it is possible that you could miss some important sub-link of that page, and because you asked for advice from experience, I think you should be aware as well of the danger of limit down and market halt. Give a read to https://www.cmegroup.com/trading/eq...ing/equity-index/faq-sp-500-price-limits.html If you are always in front of you screens when trading you should have a feel of the kind of day you are trading in, and maybe you can conservatively decide to stay flat.
thank you would love to wrap up here, I got too much attention from senior traders and tons of recommendations, really do not want to abuse of their kindness. I am going to build bones with short/long SPY, while closely monitoring also ES, MES, UVXY charts for 2 years, if account grows considerably or bulls enthusiasm should really ramp up, I am going to scale up some risk. Happy trading week every one.
Do not want to reopen the post, I am paper trading since started the post (23 Feb) and I gotta say that although the notional value is 20k loss for 1 MES as you taught me, the daily variation so far was even lower than 300 eu. I conclude being not expert that if one avoids calendar news as FED, CPI and so on, making an high probability scalp, staying on the screen all the trade, cannot be so risky for 1 MES, considering the alternative is to play manipulated stocks, despite future are a leveraged product. In other worlds one mes cannot be so mes-sy.