The transition to e-mini.

First of all, did you start your trading career with the e-mini futures, or did you transition to trading index futures from first trading stocks? I currently trade Nasdaq equities but in the future would like to trade the e-mini as well. What kind of skill can I build in the equity market that would help me in the index futures? If I could successfully scalp the QQQ and SPY, would that be a good indication that I could be successful trading the NQ and ES?

Thanks in advance.

-FastTrader

 

The two key ingredients are....discipline and having the proper market perspective. With that, you'll have a fair chance.

Then throw in a pretty good trading strategy... you will have the opportunity to make some money.

 

My charting program does not chart the NQ or ES...can these 2 be traded off the Nasdaq100 and S&P500 charts?

-FastTrader

 

Yes, technically the can. But if you're gonna do it, you gotta do it right.

Get software that charts the NQ and ES.

You should have the right tools.

 

Any specific recommendations? E-Signal?

 

If your broker's platform doesn't cover it, E-signal, Trade Station, or Qcharts will serve the purpose.

 

I trade SPY and take my signals from ES. One thing I am realizing is that success in SPY will not equate to the same success in ES. Given that I might make 5 to 10 trades a day and enter Breakouts from trend consolidation patterns, The larger Tick increments in ES would affect my bottom line. I have many losses that are only $.01. I have calculated that I would have to subtract about $.02 to every win and add .02 to every loss in order to get an idea how I would do trading ES. My method will definitely need to be tweaked in order to trade ES.

 

Fast Trader

I would also recommend starting out slowly. No need to try to make a million dollars the first day.

Take your time.

Enjoy the process.

Be patient.

And don't take actions that could lead to regrets.

Take the trades for the right reasons, not because you think your reasons are right.

Wish you the best,
gotta_trade

 

gotta_trade, absolutely. No rush here my friend.

 

I switched with one of my systems from SPY to ES a few weeks ago. Most signals almost equal, sometimes ES is a bit earlier.
The major benefit is the I have almost no slippage with ES.