I am currently trading the MES and would like to know how many contracts I can realistically trade there before moving to the ES. If I'm profitable on the MES, my feeling is that with all other things being equal I should trade significant size before moving to the ES. For example, I would think that I should be trading a minimum of 30 MES before going to 3 ES. However, that style of trading could be still significantly different unless I broke up the 30 into 3 units of 10, to match the scales.
One way I would answer this and I'm curious if you would agree, is I should work my way up to 90 MES contracts, trading them in 3 blocks of 30. In doing this starting from 3 MES, you could increase by 1 MES and the additional to your middle target until you got another block of 3 which would then spread evenly.
This would just be an overall model of how to increase MES size and scale out. It would obviously need to be adjusted for factors like scaling in, etc...
I'm concerned that if I trade 30 MES, and try to switch to 3 ES, that my next move up will be 33% larger (from 3 to 4 in the ES). Where as if I work up to 90 MES and 9 ES, my next move up is more reasonable at 11% (from 9 to 10 in the ES).
Do you see a limit on the number of contracts you can trade on the MES with this thought process? Is that market arbitraged enough to absorb even larger orders like 300-500? I totally agree with your suggestion that "sizing" up should be done in a way to be as imperceptible as possible and if you're making profitable trades on the MES it seems it would be more important not to mess with the mental game and pay more in fees before transitioning to the ES.
Thanks in advance.
The following user says Thank You to mjg2trader for this post:
A member emailed and asked if I can post the webinar I did last week with Bookmap could be posted to this thread for easy retrieval and for other FIO members to watch. This webinar didn't go into the weeds of order flow or how to use the CT Bookmap software. It is a more holistic look at trading from the big picture down to the order flow.
In my opinion, members here will likely pick up a thing or two to use. That's always my goal...to make a positive impact on your trading.
It is a boring open this morning in the index futures, this might be a good day to watch this. Let me know your thoughts.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
The following 7 users say Thank You to FuturesTrader71 for this post:
FuturesTrader71 ,
Thank you so much for posting and sharing this Webinar - super helpful
Definitely helped me with adding on Lots, and scaling out of 1 Lot to cover a portion of my cost of the trade
scaling out of the 2nd Lot at the price that covers the Entire Risk of the trade ( initial risk of all 3 Contracts at the initial entry of the trade )
And then having the 3rd Lot be the "Runner" , within the structure of the Market
You also mentioned adding Lots, based on your Account size and the Margin on a per contract basis
Can you please give an example of how this method would work ( adding X number of Contracts ) based on the Intra-Day Margin per contract - an example of this based on a $20,000 account
Thanks so much again for doing this webinar - very insightful
NOTICE: This is provided as an example with some fair assumptions. Derivatives trading is not suitable for all investors. This is provided as an educational example only and is not a recommendation to trade or to indicate the size you should be trading. If you want more details, please reach out to the team at https://edgeclear.com/contact
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 50,065 since Jun 2009
Thanks: 32,529 given,
98,480
received
Hi guys,
It is my pleasure to welcome back Morad Askar aka FuturesTrader71 for our 409th webinar event, on Thursday, January 21st @ 4:30 PM Eastern US.
The title for the event is "Are you doing what it takes to trade right?", and bullet points include:
- Listen to Morad! He is a 20+ year professional trading veteran
- What are the key pieces that need to be in place?
- How important is the technical side really?
- Who are you accountable to?
- Is 2021 going to be THE year?
- Attend live to get all your questions answered!
Looking forward to tomorrow's event. The theme of the AMA is "Are you doing what it takes to trade right?"
This year, we are making a strong push with the objective of seeing more traders "make the turn" or at least to become much more professional in your approach. Not saying everyone isn't. But with the massive ocean of information and often conflicting advice out there, it is easy to get lost in the process and to go in circles. There is far too much focus on the technical side and not enough on the process and "doing the work".
It would be great if members can start things off by asking your questions here. I will prioritize them during the webinar. It makes for a more substantive discussion.
The best way to find out what is offered that helps improve your current setup is to speak to one of the guys on the team. You will be assigned a personal broker with whom you will always interact and who will get to know you. Please reach out here: https://edgeclear.com/contact-us
Be sure to let them know that you are from FIO and that you had spoken with me.
Cheers!
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
Trading: All Micros, especially the ones that move
Posts: 2,405 since Feb 2017
Thanks: 16,681 given,
9,123
received
Finally got around to watching this... great webinar. @FuturesTrader71 asks all the tough questions and probes traders to do the same. Quite inspirational, thanks Morad.
The following user says Thank You to Rrrracer for this post:
I was considering opening an account with TF4L and just wanted to know if Pratik Patel still is associated with TF4L or stage5trading? I assume that was before stage5 took over TF4L? Could you confirm?
I am not associated with TF4L or Stage 5 Trading and haven't been for several years. As far as I know, Pratik is not either. Stage 5 Trading is still in litigation to be dissolved.
A quick search for the names showed that Pratik Patel is also in a lawsuit against Stage 5 Trading. See the attached image.
I would invite you to consider talking to the brokers at Edge Clear who used to be at Stage 5 and have all left in September 2019. You can reach Max or Ian at https://edgeclear.com/contact-us.
Note that I'm 100% owner of Edge Clear and have a personal interest in the success of the firm. I hope you can support what we are doing.
If you have any questions regarding brokerage, please let me know.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
I want to bring this thread to your attention. It is the discussion relating to yesterday's open panel with Dr. Steenbarger and myself answering questions. Please give it a visit and see if there is anything new there for you to apply to your trading:
It is my pleasure to welcome Dr. Brett Steenbarger and Morad Askar aka FuturesTrader71, for our 419th webinar event, at a special time -- Wednesday, March 31st @ 4:30 PM Eastern US.
Dr. Brett and Morad have teamed up for this very special …
Cheers!
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
The following user says Thank You to FuturesTrader71 for this post:
@FT71 great call this morning for scenario 1 on the ES. Up to 75 o/n high ( 71.50 ) , down to 60.75 ( 61.00 actual ), up a few points ( 63.00 actual ) and then down to 48.00 ( 47.75 actual ). Very well done and thank you.
The following user says Thank You to lesterb for this post:
Thanks for listening in on the Trader Bite. Yeah, that worked out well. In fact, we managed to get down into 4123 today which was the big extended target for yesterday. I like a market that is free to move under its own power. In my opinion, it makes it easier to read.
Keep reading the narrative and watch your risk. I hope you start to see a consistent outcome.
Best,
FT71
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io "Ask Me Anything" thread
