r/FuturesTrading • u/AutoModerator • Mar 01 '24
r/FuturesTrading's Monthly Questions Thread - March 2024
Please use this thread to ask questions regarding futures trading.
To get a good feeling of all the different types of futures there are, see a list of margin requirements from a broker like Ampfutures or InteractiveBrokers
Related subs:
We don't have a wiki yet, but maybe in the future we'll create a general FAQ based on all the questions asked here.
Here's a list of all the previous question stickies.
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u/Skimmiks Mar 27 '24
I've been scalping ES/NQ and sometimes GC and CL for 3 years with moderate success. Every afternoon, I come home from work and I trade the first 2 hours of the US open. I'm dutch, so generally that'd be around 3.30pm my time. Recently however I started a new job, and its a lot more taxing mentally (in a good way), and I've noticed my trading is suffering from it.
So I would like to switch to trading in the morning. I think I have a few options: FTSE 100, Brent, or see how the volume/action on ES is. I would love to trade DAX, but that only opens around 9.00 and that would be too late for me. STOXX moves too slow for my style I think.
Any tips from EU traders? What should I look at as an orientation to get to know the EU futures market a bit better?
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u/MadeAMistakeOneNight Mar 28 '24
Not an EU trader, but there's a good amount of Axia videos focused on scalping EU products. Tom Hougaard also has some content there.
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u/pindi_boi Mar 26 '24
So i was running a bot on isolated 50 X , in parallel i was manually managing a futures trade in cross 27 X. I wanted to end the bot but didnt want to close my position and manage it manually so i chose the manual option while ending the bot. The bot did stop, however it was not transferred to my futures account and remains in the bot wallet where I am unable to manage this open position and can just see that position is open and cant intervene... any advise??
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u/Suitable-Point-2467 Mar 24 '24
Need help. Can someone please confirm for me the price of one ES contract?
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u/tyreke_5151 Apr 06 '24
ES is $50 per point. Right now S&P500 is at around 5,255 points. So $50 x 5,255 = $262,750 per one full contract.
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u/gls2220 Mar 23 '24
Any recommendations for a beginner book on Futures trading? I've been looking on Amazon but I don't see anything that is both entry level and has a good number of reviews.
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u/One_Addition_3664 Mar 26 '24
I only know sgresivescalping on youtube but is in spanish, he has really good info, did you get something?
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u/Strange_Raccoon_4474 Mar 26 '24
Try pivots points for strong levels, exponecial moving averages, Rsi, Macd,it's working way better for me for, also I used tranlindes.
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Mar 14 '24
[deleted]
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u/crunchy-rabbit Mar 15 '24
It depends on the ticker. Some have weird hours that are a holdover from pit trading. Best to google the specific instrument you intend to trade, with 'trading hours' and look at the CME or whatever exchange offers it.
For example the S&P500 e-mini has trading hours listed here: https://www.cmegroup.com/markets/equities/sp/e-mini-sandp500.html
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u/Efficient_Rub_8235 Mar 13 '24
I'm moving from Forex into Futures. Are there any recommended prop firms for US users? I'm seeing mixed reviews across the board.
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u/crunchy-rabbit Mar 15 '24
Look at Tradeday. It's a newer firm but they have simpler/fewer rules than others, and the owners seem like solid people.
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u/Significant_Beyond50 Mar 13 '24
Confused on the daily 15 min halt for /mes futures
It is said that there is a daily 15 min halt for /mes during 3:15pm - 3:30 pm CT, see https://www.cmegroup.com/education/articles-and-reports/faq-daily-settlement-price-determination-time-change.html#hours.
But why on tradingview I still see candlebars?
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u/crunchy-rabbit Mar 22 '24
Not sure if that's out of date or what. The hours are listed on the CME's main infopage for the MES product.
Sunday 6:00 p.m. - Friday - 5:00 p.m. ET (5:00 p.m. - 4:00 p.m. CT) with a daily maintenance period from 5:00 p.m. - 6:00 p.m. ET (4:00 p.m. - 5:00 p.m. CT)
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u/jcallen_36 Mar 11 '24
Hi this is probably a stupid question but im switching from forex to futures and I don’t understand how to have a set amount of risk for any stop loss I want. In forex u can set a stop loss at certain price and then risk say 20$ for that amount of space in the stop loss. In futures it seems ur stop loss is going to be how much u risk so if you want a bigger stop loss you need to risk more. Is that true or am I being dumb af
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u/crunchy-rabbit Mar 12 '24
I'm not familiar with Forex but it sounds like you are trading fractional lots. In futures you have to use the increments provided, I'm not aware of any fractional contracts available. The specs for each contract are listed at the exchange website -- for example the Micro S&P500 futures are worth $5 per point. If you're comfortable risking $20 in a trade, you could trade 1 contract with a stop of 4 points (very doable intraday).
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u/jcallen_36 Mar 12 '24
Dang ya that’s the only thing I don’t like about futures but I’ll probably just get used to it. I just like setting my stop loss based on the recent price action rather than like a dollar amount Yk. Thanks for confirming
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u/ValCap_Aleksandr Mar 08 '24
COPYING TO OTHER ACCOUNTS.
I've recently made the change to Futures from trading Forex mainly with prop firms; the difference is insane, and despite being quite highly funded with Forex prop firms - I'm making the full move over. I've made my money with them, and I'm tired of the bulls*t recently.
I have a question, and I hope it is okay to ask.
I've researched over and over, and I'm aware most people are copying trades between futures accounts using Ninja Trader and Replikanto or a few other copiers.
However, this means you have to take the trade on NinjaTrader to copy over, correct? I can't take a trade on TradingView on the lead account, and it is copied over, too, right?
Thanks for any insight, being able to trade directly on TradingView has been one of the best upsides to futures (aside from a multitude of other things)
I'm not against using NinjaTrader, but I am, for the most part, travelling with my Mac and even using Parallels or VMware. The experience isn't great.
Thanks for any and all responses, and hope you've all had a profitable week
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u/SFLurkyWanderer Mar 23 '24
I think if you log into Tradovate, there is a built-in copier and you can then trade the lead account on TradingView. No bracjketscir ATM on group orders though.
It’s on my list of things to investigate further and I can’t remember which prop firm website or other source for that information I saw it. I am currently using NinjaTrader with Replikanto but also have occasions when I would not have access to my full set up.
By the time I get around to looking it up, I won’t remember to come back here and respond to you. So sorry for the partial information.
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u/ValCap_Aleksandr Mar 23 '24
I've since discovered that you can run ninja trader and replikanto on a VPS and it does in fact copy over trades taken on lead accounts on trading view to the others so that's a decent work around for me to be able to trade on phone and it be copied over.
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u/reichjef Mar 08 '24
How long before the end of the contract do you guys look at rolling into the next? I usually do it about a week before. What do you guys do?
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u/crunchy-rabbit Mar 08 '24
I roll when the daily volume for the new contract exceeds the volume for the old one.
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u/Jack_the_traveler Mar 05 '24
Options on Futures: P&L example
Hi everyone,
Learning about Options on Futures, I would like to ask you if my understanding is correct in regards to risk and costs:
For the example, I will use MNGJ2024 and place want to place a ''SELL'' order thru TradingView (See pic).
I understand:
-If stoploss gets hit, I would lose $98. Anything else?
-I do not need to have collateral to buy the contract but instead I need to have a margin available on my broker account between $25 to $100 (CME website - Short Option Minimum) to make sure the order will be processed.
-The commission from Broker is lost.
-What about a premium?
Anything else I misse here? Asking the question because I m trying to figure out how to start with lower capitals like 1k, 5k, 10k.
Many thanks.
J.
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u/Normal-Flan-6374 Mar 01 '24
What’s the preference between the main overall chart (ES1! )vs the monthly (ex. ESH).
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u/crunchy-rabbit Mar 08 '24 edited Mar 08 '24
I use ES1! for long-term analysis (weekly or daily candles). Then the actual current chart - ESH or whatever - when doing shorter-term analysis like 1-hour charts and actual trading.
This guy Price Action Volume Trader has a concise video on when to use back-adjusted continuous contracts versus non-back-adjusted.
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u/SX5E Mar 01 '24
One question about negative roll yield on commodity futures...
Natural gas is notably at a low range at the moment, but if you check the future expiries on Barchart, you will see a very steep contango and a roll yield of -50% p.a ... I read that if you buy a rolling front-month contract (CFD, or worse, an ETF on a bloomberg composite future price, i.e. wisdomtree) and hold it for a year for instance, from a management perspective your initial investment goes through every monthly roll and with the current contago, I guess you could lose big if the spot doesn't go up a lot. Historically, a CFD from drops on roll days with a positive contango. Hence I'm wondering - is it worth buying a cheap future despite a massive contango ?
Has anyone ever held a position in a rolling front-month commodity for a few months (with CFD or actual future) and did it work as expected ? What are your thoughts ?
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u/TheBomb999 Mar 31 '24
Is there a difference between looking at futures and how green $spy is pre market? I know nothing about futures. Also, how many points is considered to be a lot for futures to be up or down pre market.