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E-mini might very well be impractical for day trading where commissions and
slippage could eat up small profits. OOH I've made money position trading
SPY using zero leverage - my usual trades last a couple of weeks. I've day
traded in the past but it's not my cup of tea as I prefer to set my
positions and stops and go play golf Margin is not a problem with the full
S&P, however if the E-mini is a reasonable trading vehicle then I'm will to
pay the additional costs while I learn the differences between trading the
Nyse/Amex special markets vs the "pit". The futures on the small and mid
caps do provide interesting opportunities when the small caps have greater
relative strength than the big caps. I have systems which track the
companies and sectors in the 500, 400 and 600 and I watch the relative
strength of big/small caps on my week charts. The big caps have continued to
have the advantage, although there are some hints of change on the daily
which I suspect may be fleeting but who knows. I'm wary - the last time I
watched the Nasdaq tank technically while the big caps held on was in 87.
Earl
-----Original Message-----
From: Craig Nelson <nelson@xxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Thursday, January 15, 1998 4:36 PM
Subject: Re: E-Mini
>I've looked seriously at the e-mini S&P contract and I think it stinks.
>With a point value of only $50.00 you need to make a heck of a lot of S&P
>points to make any money, even when trading multiple lots. I can't make my
>trading systems profitable unless I use the Big S&P, or the Nasdaq 100
>futures contract(symbol ND). Since the Big S&P is out of my price range
>for now, I trade the ND with a margin of $7,965. It's affordable. And
>the moves in ND are very nice. Tick value is $100.00 per big point. You
>might want to consider ND as an alternative to the mini S&P
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