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Trading the new CME E-Micro's (E micro) MES, MNQ, MYM, M2K and other micros


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Trading the new CME E-Micro's (E micro) MES, MNQ, MYM, M2K and other micros

  #371 (permalink)
 
CannonTrading's Avatar
 CannonTrading   is a Vendor
 
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davetal View Post
I traded ES Micro for 2 months now and i think its a great learning experience, I dont see much of slippage like people mentioning in the forum

I think the MICROS are a great tool for learning, making the leap from simulated trading to live trading and as possible hedge when trading the regular mini sized contracts.

Volume so far is impressive.

My favorite is the MNQ ( MICRO mini) as the reg. mini nasdaq could be a bit much for traders with accounts smaller than 10k.

The same support / resistance levels we publish daily for the large contracts, apply for the MICROS as well.

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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  #372 (permalink)
 
TraderTS's Avatar
 TraderTS 
Texas, USA
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: AMP Futures w/ CQG Data Feed
Trading: ES+MES+TechStocks as of 2022 Previous: ES GC CL [4MES2ES as of 2019MAY] and [4MGC2GC as of 2021JAN]
Posts: 454 since Jul 2014
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CannonTrading View Post
I think the MICROS are a great tool for learning, making the leap from simulated trading to live trading and as possible hedge when trading the regular mini sized contracts.

Volume so far is impressive.

I am looking for a second brokerage firm and currently visiting Los Angeles... So is it possible to request an appointment for a personal tour of the firm? This Friday July 19th around 10:30 am ET?


Find the missing piece of the puzzle... Let's be amazing, be awesome in trading today!
iTS
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  #373 (permalink)
 
CannonTrading's Avatar
 CannonTrading   is a Vendor
 
Posts: 216 since Mar 2013
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TraderTS View Post
I am looking for a second brokerage firm and currently visiting Los Angeles... So is it possible to request an appointment for a personal tour of the firm? This Friday July 19th around 10:30 am ET?

Be happy to, please PM me and we can set it up, chat on the phone first and have you over for coffee and a visit.

PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
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  #374 (permalink)
 OneEye 
The Netherlands
 
Experience: Intermediate
Platform: proprietary
Trading: ES
Posts: 40 since Dec 2017
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Hi sstheo, I thought I was doing well being at position 6 in 30 minutes. From your print I see you have beaten me at 45 minutes, you are number 1!

At least we’re on the same page!

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  #375 (permalink)
 
sstheo's Avatar
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
Posts: 285 since Oct 2012
Thanks Given: 198
Thanks Received: 1,490


OneEye View Post
Hi sstheo, I thought I was doing well being at position 6 in 30 minutes. From your print I see you have beaten me at 45 minutes, you are number 1!

At least we’re on the same page!


There are some very aggressive and awesome traders in this CME competition.

I quickly dropped off the top ten down into the 40's but have clawed my way back now to #22.

Fun stuff.

Keep up the great work!

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  #376 (permalink)
 OneEye 
The Netherlands
 
Experience: Intermediate
Platform: proprietary
Trading: ES
Posts: 40 since Dec 2017
Thanks Given: 140
Thanks Received: 54

I agree. In a competition with:

- no commissions
- an actual downrisk of zero
- a chance on $2500 price money,

Taking irrational risks and / or overtrading is the best bet to bring home that $2500.

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  #377 (permalink)
 
sstheo's Avatar
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
Posts: 285 since Oct 2012
Thanks Given: 198
Thanks Received: 1,490


OneEye View Post
I agree. In a competition with:

- no commissions
- an actual downrisk of zero
- a chance on $2500 price money,

Taking irrational risks and / or overtrading is the best bet to bring home that $2500.


You are a humorist for sure. But the hallmark of a true comedian is the subtle truths they weave throughout the narrative. CME makes the participants watch videos about futures trading, but they don't actually promote good trading.

Why?

We are chickens in a den of foxes! LOL. They want us to take irrational risks and overtrade.

This being said, they could have done a real service to the Micro contract traders by encouraging them to "trade responsibly" (sounds like a beer commercial!) by setting up the contest like this:
  • Reach $3000 by the end of 5 days (just to keep them moving)
  • The trader with the lowest risk-adjusted return wins.

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  #378 (permalink)
 
bobwest's Avatar
 bobwest 
Western Florida
Site Moderator
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
Frequency: Several times daily
Duration: Minutes
Posts: 8,162 since Jan 2013
Thanks Given: 57,341
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OneEye View Post

Taking irrational risks and / or overtrading is the best bet to bring home that $2500.


sstheo View Post

We are chickens in a den of foxes! LOL. They want us to take irrational risks and overtrade.

This being said, they could have done a real service to the Micro contract traders by encouraging them to "trade responsibly" (sounds like a beer commercial!) by setting up the contest like this:
  • Reach $3000 by the end of 5 days (just to keep them moving)
  • The trader with the lowest risk-adjusted return wins.

Too right.

Trading volume makes the business of exchanges and brokers pay off. This is not inherently bad, but traders should recognize where their interests lie, and hopefully there can be a meeting in the middle.

But this contest, while it will be entertaining and it may help introduce the micros, is also probably going to reward some takers of long shots and high risk. The slow-and-steady type traders, who win in real life, will likely not do as well, and some bad lessons may be taught.

Not that it won't be fun to watch, but from the sidelines, not in it (for me anyway.)

Bob.

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  #379 (permalink)
 
sstheo's Avatar
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
Posts: 285 since Oct 2012
Thanks Given: 198
Thanks Received: 1,490

I am at spot #11 at the end of day 2. 1400+ people signed up, but about 500 appear to be actively trading.

I agree that this is fun, but teaches some bad risky habits.

Still, it is encouraging to know that I have learned a little bit in my many years of trading.

My goal was to finish in the top 50, but my new goal is to finish in the top 10.





.

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  #380 (permalink)
 
sstheo's Avatar
 sstheo 
Holladay, Utah, USA
 
Experience: Intermediate
Platform: Multicharts
Broker: AMP/CQG
Trading: MES, MYM, MNQ, M2K
Posts: 285 since Oct 2012
Thanks Given: 198
Thanks Received: 1,490


This is just for fun. The risks taken are extremely high.

I got creamed last night and dropped to #71. But fought may way back valiantly today...






.

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