BTW, I would agree. ES is a really efficient market compared to some others. It is arbed, analyzed, scrutinized and chopped ot ribbons by everyone from small traders to huge institutions doing flash trades. It is hard for a newer trader to pull out profits. Forex by definition, is similar. Somewhat illiquid stocks or futures (think cocoa, OJ or the meats) or options may not be as beaten up by the big boys... but not TOO illiquid! 200 shares or contracts a day means you could get hammered by slippage.
Hi. Do you?: a-Own the office?. b-Share the office with other traders?. c-Work for a salary or commissions at the office?. d-A combination of the above? Thanks.
i got experience that exceeds decades. i can smell a good trade, and more importantly a good one that has gone bad.
Your first job as a trader is to determine what your priorities are. Is your priority to make money? If so, the e-mini is the wrong place to start trading. The only reason you should ever trade this instrument is if you have so much size that you need the massive liquidity it offers to enter and exit your positions. This definitely does not describe you. The point of trading is to find a place to make money as easily as possible, not to go straight to the hardest market in the world to trade just because you want to prove something. You're not going to get a medal because you choose to do something extra difficult, in fact you will get a big fat "F" on your trader report card for not analyzing the markets properly to decide where you're going to trade that gives you the best edge. (This is always step 1 in any trading plan incidentally, and given the amount of e-mini traders out there it seems that most of the trading world is failing at this.) Take a look at the average range of how far the instrument moves relative to the slippage that you incur (spread + commissions) for getting in and out of a position... you want to be trading instruments that have a wide range relative to the slippage, and the e-mini is one of the worst for that. For index futures, the Russell is probably the best, otherwise maybe crude oil or the British Pound.
I have some time on my hands while I wait for the 12:30 trade In response to the questions above 1. Recently I have become a partner in my business 2. I have my own office as do my associates 3. I prefer to keep my financial arrangements private Thanks for your inquiry.
So is the ES impossible to make money from on a consistent basis? Obviously Traderzones and Zentrickster think so. Traderzones, would you say all trading is impossible or just the ES? Also, what brings you to a trading forum if you dont think it can be done? do you trade? I am trying to learn the ES at the moment personally. Looks like ill need lots of luck, lol
It's not impossible to make money daytrading the ES, but I've heard estimates that say only 1-2% of traders can scalp and make money on it. Maybe longer term trading is easier. The question is: why would you want to even try? The way the contract is set up, it's not advantageous to you given how much it moves and what you have to pay in slippage. If it moved in 10ths of a point it would be great, but right now it completely sucks with that .25 point spread. So why bother? There are much easier and better places to make money. You're not going to get style points in this business for trading something difficult.