first of all, i've been trading for 3+ years...but i've just been trading stocks. i've heard of e-minis a lot, but i've never really understood what they are. remember what your teacher said....there's no such thing as a stupid question! lol thanks
I'm pretty sure that a mini contract is about 1/5 of a regular contract and the 'e' stands for electronic entry as opposed to a floor trade. Call me newbie too if ya wanna. That's what Iv'e been calling myself for a couple of years.
plum is correct.. they are electronically traded mini (referring to the margin requirement) contracts on S&P500, nasdaq-100, and dow indexes. i don't know of any other e-minis.. the reason they are so popular (or getting that way anyway) is: high leverage + high liquidity. you can easily make/lose 25% in a day they all trade on globex (or cbot) -- no multiple markets no downtick rule better tax treatment. file your total P/L and pay 40% as long term gains and 60% as short term gains.
Gekko, no question is a stupid question. (Except yours) Don't make people try and explain it in this thread just go to www.cme.com and read all about it. You will come back knowing more about e-minis than most people on this board.