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Micro ES SP500 contract "coming" (E-Micro)
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Micro ES SP500 contract "coming" (E-Micro)

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
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Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
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Micro ES SP500 contract "coming" (E-Micro)

For those that missed the AMA session with FT71 today:

https://futures.io/vendors-product-reviews/26325-futurestrader71-ft71-morad-aska...thing-17.html#post342609

It was discussed that there is a Micro ES contract (E-Micro) "coming soon" by the CME. The ES is the e-mini of the full sized SP contract, trading at 1/5th value, and it is thought the Micro ES will trade at 1/5th the size of the ES.

I have been advocating the use of Micro CME FX contracts such as the M6E for a couple of years now for a way to traders to cut their teeth but still maintain fully regulated and centralized trading on the futures market, but without the more expensive $12.50/tick price.

Hopefully the Micro ES will see more liquidity than the M6E variant of the 6E EUR/USD.

Mike

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  #2 (permalink)
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Last edited by Big Mike; July 15th, 2013 at 12:36 AM.
 
  #3 (permalink)
Elite Member
Michigan, Jackson
 
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hedging opportunity


I assume some brokers would allow one to hedge the ES over against the new micro ES.

Ken

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  #4 (permalink)
Elite Member
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Big Mike View Post
For those that missed the AMA session with FT71 today:

https://futures.io/vendors-product-reviews/26325-futurestrader71-ft71-morad-aska...thing-17.html#post342609

It was discussed that there is a Micro ES contract (E-Micro) "coming soon" by the CME. The ES is the e-mini of the full sized SP contract, trading at 1/5th value, and it is thought the Micro ES will trade at 1/5th the size of the ES.

I have been advocating the use of Micro CME FX contracts such as the M6E for a couple of years now for a way to traders to cut their teeth but still maintain fully regulated and centralized trading on the futures market, but without the more expensive $12.50/tick price.

Hopefully the Micro ES will see more liquidity than the M6E variant of the 6E EUR/USD.

Mike

I hope it wont face the same fate as M6E and will attract those trading spot FX and CFD.

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  #5 (permalink)
 Vendor: diversifyportfolio.com 
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This is great news. The only concern as others have pointed out is liquidity.

Since the ES is such a massively liquid instrument that 'everyone' wants to trade. Perhaps the mini version will be attractive.

It does however take time for mini's to gain popularity. Sometimes years. In South Africa we have the ALSI which is the most highly traded index future and tracks the top40 companies. The mini of the ALSI is one 10th the size, the ALMI. For many years the ALMI wasn't really tradable, there just wasn't enough volume. But it has been getting better consistently year on year.

Personally I dont know why mini's aren't more popular. I think they're great.

Diversification is the only free lunch
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  #6 (permalink)
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Personally I look forward to trading this instrument for various reasons, namely: hedging, arbitrage, and directional plays. I think the volume will come in time considering the popularity of the regular ES contracts.

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  #7 (permalink)
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The other micros are day trading failures because of the lousy commission and margin structure, but I think the ES is big enough to pull it off. Probably only good for building discipline and not your account though. It will be interesting to see.

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  #8 (permalink)
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I really hope HFT and bot do their bit to liquidity and volatility.

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  #9 (permalink)
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vegasfoster View Post
The other micros are day trading failures because of the lousy commission and margin structure, but I think the ES is big enough to pull it off. Probably only good for building discipline and not your account though. It will be interesting to see.

Yes the M6E is inferior to 6E in terms of trade costs. But trade costs should be near the bottom of the list for a beginner who is likely to lose 50% of their account in a matter of weeks due to rookie mistakes.

I like the micro's for recommending them to beginners to gain their footing before they move up to the bigger contracts. Of course it's always a battle, because the rookie's are also constantly trying to find the lowest margin, lowest commission brokers --- the ones least likely to give you the best service or advice and most likely to have the highest turnover. So it's a process of educating them.

But if we can get the Micro ES then I think it will be a great learning tool and will help save a lot of rookies from some big losses.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

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  #10 (permalink)
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Big Mike View Post
Yes the M6E is inferior to 6E in terms of trade costs. But trade costs should be near the bottom of the list for a beginner who is likely to lose 50% of their account in a matter of weeks due to rookie mistakes.

I like the micro's for recommending them to beginners to gain their footing before they move up to the bigger contracts. Of course it's always a battle, because the rookie's are also constantly trying to find the lowest margin, lowest commission brokers --- the ones least likely to give you the best service or advice and most likely to have the highest turnover. So it's a process of educating them.

But if we can get the Micro ES then I think it will be a great learning tool and will help save a lot of rookies from some big losses.

Mike

Agreed, good for new people, but you will reach a point where you would like to be able trade the equivalent of 1 to 2 full contracts broken down into 3-6 units, so IMO it's no good for providing a comfortable transition to trading multiple full contracts.

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