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I've been position trading stocks and the S&P Spyders (SPY) however
increased volitility is making me more and more leary of individual stocks.
While a nice trading vehicle on both long and short side, SPY does not
provide the returns I'm accustomed to with trading individual stocks for a
couple of weeks. I'm looking seriously at moving into S&P using the E-Mini
to get the feel of things. However, after reading everything I can find at
www.cme.com on the E-mini, it's beginning to look like it's unsuitable for
position trading because the Globex on which the E-mini is traded does not
allow GTC orders. A few question is anyone can help:
1) Is there any way of establishing GTC orders (multi-day) on the E-mini
2) I'm finding a dearth of futures brokers which provide web-based trading
of the E-mini - recommendations?
3) I've noticed some significant intra-day spreads between the S&P500 and
the E-Mini*10 - is this usual?
4) Are there any "gotchas" with the E-Mini other than higher commissions
e.g. fills, slippage, liquidity?
Thank you.
Earl Adamy
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