Yeah, if your gonna scalp you gotta trade ES. Too much slippage with the SPY. Positions other than scalps, you can trade either one. But, then again, there are many other benefits to trade ES over SPY.
Does anyone know where to read up on the ES in that I do not have a good understanding of the various rules behind futures trading? I'm quite interested in ES. I've spent the last few months trading QQQ and SPY. I'm comfortable setting up and back testing a trade system. From what I understand, there are a fair number of weird rules: trade halting after excessive movements, what happens when the contract ends that do not apply to equities. Thanks.