When looking at the quotes for the E-Mini's on the CME website, which one is the one that is traded by E*Trade, the pit-traded, or GLOBEX? I guess a better way to ask this would be, what is the difference between the pit traded, and GLOBEX E-Mini?
Here's a snip from the CME: CME's open outcry platform and trading floor systems are linked to our GLOBEX® electronic trading platform. GLOBEX allows market participants to buy and sell whether they're sitting at trading booths on our Chicago trading floors, working at offices or homes thousands of miles away, or making trades during and after regular trading hours. At CME, some traders buy and sell contracts exclusively using computers, some prefer face-to-face interaction on CME's trading floors, and an increasing number choose to trade both ways. dom
So does the E-Mini NQ 100 track the Nasdaq 100 list, aka QQQQ? Also, what do you find to be the best indicator of movement for NQ? Is it QQQQ, or ^IXIC, or the Nasdaq 100?
They are related and eventually track each other. The problem is they are traded individually. QQQQ could be going up while the NZ 100 is dropping. Same with SPY and ES. At some point they'll mesh again. With the minis you have to keep your eye on the FV premium to have an idea when program trading will hit. An excellent free site is www.indexarb.com.
Zeb, INTRADAY ONLY.....INTRADAY ONLY......INTRADAY ONLY..... YM ONLY......YM ONLY....YM ONLY.......... After 4 years AND 8 THOUSAND HOURS of studies, backtesting, etc., I sincerely advise you to first demo trade realtime CHARTS, and if Emini's is your interest, please trade the Mini Dow $5/pt to begin with.......If you can't make money with that, then you need to learn to make money with that or quit the Emini trading..ES AND NQ WILL EAT YOUR ACCOUNT FOR LUNCH IF U CAN'T TRADE MINI DOW...LOSSES WILL COME EVERYDAY EXCEPT THE LUCK TRADES WHICH ONLY FUELS THE FAILURE TIME FRAME...I just very recently learned the importance of 2 keys to successful mini dow INTRADAY trading.... RISK/REWARD...such as, 1 to 2 minimum,,,if you risk 5 mini dow points, you should expect by results of testing you r system to capture 10 to 15 points....if you can't achieve that , don't trade mini dow............ CONFIDENCE......the "learn how to lose crap", patience, discipline, and self-control/BLAH BLAH BLAH is all covered under confidence....The confidence must be in AND COME FROM your system/methodology.....THOUSANDS OF HOURS OF HARD WORK MENTALLY ....... You are only the operator......If you have an ego problem...don't risk your money until it is out of the picture.....sadly, the usual way to lose the ego is to lose money...over and over..I learned the expensive and hard way.........few people win, most lose....sincerely good luck and don't look for easy answers, and expensive systems usually get more expensive the longer u use them .....I still wonder why if they have a wonderful system why in the name of goodness are they selling it instead of trading multiple contracts with it and making all the money they would ever want without dealing with the poor suckers and potential problems associated with people.....this is not a people business unless u want it to be....such as this journal.....trading is a wonderful, exciting adventure, especially when you love it.....u have to love it to learn it.........few and far between are those who love it....
sounds exactly right to me... everything except for the "trade the YM" part. I don't understand how you trade a contract that has all these up/down spikes on such low bid/ask volume, you can be up 20 pts in YM, and in 10 seconds they spike it up hard stop you out and go right back down the same 20pts it just ran up... I sit there and watch in amazement of all the noise. it seems that every bar in YM no matter what the time frame is retraced 78.6% of the prior bar.... good luck with it, Im stickin' to NQ
agree with progie,, i traded es and nq for two years and some how i think my systems work better with ym. so i trade ym exclusively now with diversify systems..i think ym trends a little better and it does has smaller $ spread.
Zeb, 99% of ES trading, roughly, is day trading. So no, expiration is no big deal, unless you don't realize when it is, but volume tells ya pretty quick. AS for me, I only trade ES and R2K minis. I simply don't like the movement of the Dow and NQ. I think any of them are tradeable though. R2K could eat you for lunch faster than any of em though. It happens to be my favorite. Jay
I can't believe I didn't get attacked for posting here....thanks a lot....4 years ago I traded the ES for a very wealthy man who developed a high risk, high reward system...10 TRADERS X 4 CONTRACTS EACH ....I call it now a high risk, low reward system...breakout trading ..5 point target/10 point stops ..bought high and sold low...that instantly puts you at a disadvantage.....YOU SELL AT THE BOTTOM OF THE CHANNEL SO TO GET BACK TO THE TOP OF THE CHANNEL YOU GIVE UP MAYBE 2 OR 3 PTS ES....YM CAN BE 6 OR 8 OR WHATEVER WHICH MEANS MANY STOPOUTS OCCUR AND THE PRICE IS ONLY MOVING UP AND DOWN FORMING THE NORMAL CHANNEL WHICH CAN AND SHOULD BE EXPECTED WITH EVERY NORMAL RUN ..........lost a lot of money.......ES trading only and he said we were headed to the big s & p with 10 contracts when we proved the system on the emini with real money...we didn't and we lost our worst day $35,000.....Not big money for big boys but made a lasting impression on me.. I have applied my system to the ES NQ and equities and all time frames and it works the same and looks the same on all. I will say I ENTER only 5 min chart and after run begins, I like to watch the 15 min chart....for smoothness....the reason I don't care to use 15 for entry is the quicker entry on 5 and stop loss setting point which is easier on 5.... The stop loss setting issue AND BEING A POOR MAN is why I trade only the YM for now....The ES NQ being $50 and $20 x 2 points ES and 5 points NQ stops just put me in a higher dollar risk position.... Usually, I never need over 10 pts, or 50 dollars on the YM... YM looks wild on charts under 10 minutes....just always get the big picture and hand draw general trendlines to keep perspective... I trade only with the trend, but intraday that can mean several turns per day...maybe I am mostly a channel trader, but channel means price is going a direction which shows a top and bottom which creates a channel.....caused by supply and demand....price ....I only use simple moving averages for stop setting points and when trade is entered I move to break even after 10 points is in the bag.......and after entry bar has closed ....who cares if u r wrong and breakeven 10 times today @ $7 round turn.....1 trade gets all that back and more....But IF YOU HAVE A PROVEN SYSTEM THAT IS 75% ACCURATE OR MORE AND WILL TRADE THAT SYSTEM AND YOU DEVELOP TOTAL CONFIDENCE IN THAT SYSTEM YOU WILL NEVER LOSE MORE THAN YOU SUCCEED......I DON'T LIKE THE TERMS "WIN OR BET"...MY EX-BOSS WAS A BIG GAMBLER AND HE LOST OVER AND OVER........AND THEY ARE STILL LOSING AS WE READ....HIS SYSTEM AND WAY ONLY....TOO INTELLIGENT...TOO BAD.... I have a very high percentage system in the 90's.....it didn't happen over night and I don't give it or sell it to anyone but my immediate family, and they have seen me fail TO "GET RICH" for 4 years so they have all begun to laugh when trading is mentioned...last 3 weeks was final test of system.....EXTREMELY HIGH SUCCESS RATE.......I only say that to encourage others that it is possible to achieve, but it will not be handed to you.....I will warn against thinking youR INTELLINGENCE IS that important for success.......you don't have any original thinking that will be different than what has been looked @ MANY MILLIONS OF TIMES..........It's determination, desire, love, sometimes hate, patience, discipline, and all that is under the heading of confidence....tested and proven system builds confidence....don't test with real money, just real time.... THE MORE YOU LOOK THE MORE CONFUSED YOU BECOME AS YOU FAIL MORE THAN NOT....THE PROBLEM WITH DEMO TRADING IS U WON'T BE HONEST WITH YOURSELF AND OTHERS..YOU WILL TELL THEM ABOUT THE DISCOVERIES YOU HAVE MADE.....BIG TIME TRAP...FOR EMOTIONAL STRESS....YOU WILL HAVE TO PUT UP/SHUTUP AFTER ALL THE BIG EGO TRIPPING TALK, AND YOU WILL BE EMBARRASSED BY THE FAILURE......JUST TEST REALTIME UNTIL YOU ARE CONFIDENT AND DON'T LET ANYONE ELSE INFLUENCE YOUR TRADING UNTIL U HAVE PROVEN BACKTESTED OVER AND OVER WHAT THEY HAVE SAID........IT IS ONLY YOUR RESPONSIBILITY......SUCCEED OR FAIL....WHEN U LOSE KEEP IT SMALL.. BREAKEVEN IS WONDERFUL.... MAKING MONEY IS WONDERUL.... LOSING MONEY IS BAD BAD BAD ..... ONLY VERY FEW SURVIVE