I see a lot of people here like to day trade index futures. Is not there a lot more profit potential in metals or grains or etc.? For example, if I understand it right a mini corn contract is valued at 1,000 lbs so if you get into a position one day and it closes 10 dollars in your favor you make 10 grand after adjustment right? Sugar is even better at 112,000 lbs. So why don't people hold positions instead of day trading them?
Its because they like chasing about ES rabbits which most never catch. The rabbits just run rings around em - and they continue year in and out until they tap out-
Honestly I would rather be right by 1! dollar on Sugar... At 112,000 lbs per contract when that baby gets adjusted one can smile. And only like 1300 to enter into that futures contract.
1 NQ (which is middle of the road in terms of point value)= $20 per contract which costs around $500 to trade (day trade margin). NQ made what, around 100 point move up today? Not to mention all the downward retracements in between. You do the math. My point is this: when it comes to trading futures, profit potential is NOT the problem.
And also a lot of the ES rabbit chasers are under the illusion or have been brain washed by gurus who cant trade for themselves that chasing rabbits is less risky than holding a position, they think taking a position requires bags of money to fill up FED vaults.
I find it very telling this thread has few replies. I guess day trading has some "mystique" to people. In 2-3 months I intend to show the complete and total superiority of positional traders vs day traders (in futures in particular)
If you think that the grains contracts are measured in lbs you need to find a new career. The rest of your post is just as absurd. Corn moving $10 !!!!! Did you even consider learning anything about the futures markets before posting?
Bushels for corn lbs for sugar. Who gives a damn really? Mini corn right now is at 416.250. Is it so unrealistic for it to move 10 dollars either way? this is not like a 90% move but less than 10% move.
People who actually trade give a damn. How about learning the prices futures are quoted in. Corn is just over $4 a bushel, so it isn't going to move $10 up or down.