Have been trading TMS simulator through IB and am now ready to trade for real. I will be trading e-mini SP. I need clarification with following: Are all e-mini SP trades made in dollars at a base of $5 a contract or is it possible to trade through IB in sterling per contract and if so what sterling value per contract. Hope you can help
Regards
Peter
Regards
Peter
rossored
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Er...I think you might have your wires crossed a bit.
First off, ES doesnt trade in $5 values : its $50 per full point ( i.e $12.50 per 0.25 / point )
YM (dow future) trades in $5 multiples, however.
All trades are made in dollars and IB convert them back to the currency in your trading account as you close the positions. I'm pretty sure its not possible to trade in sterling - after all, you are trading the US markets.
First off, ES doesnt trade in $5 values : its $50 per full point ( i.e $12.50 per 0.25 / point )
YM (dow future) trades in $5 multiples, however.
All trades are made in dollars and IB convert them back to the currency in your trading account as you close the positions. I'm pretty sure its not possible to trade in sterling - after all, you are trading the US markets.
mgste,
The emini s&p500 (ES) is a standardised contract. Check out CME.COM for more details. Basically it trades at $50 per point or $12.50 per tick (0.25 pts). Of course, you can trade more than one contract at a time.
The sterling value of the contract changes with the exchange rate, there's nothing we can do about that, unfortunately!
The emini s&p500 (ES) is a standardised contract. Check out CME.COM for more details. Basically it trades at $50 per point or $12.50 per tick (0.25 pts). Of course, you can trade more than one contract at a time.
The sterling value of the contract changes with the exchange rate, there's nothing we can do about that, unfortunately!
rossored
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Peedee, where do IB give "warnings" about trailing stops??
I use them from time to time and I'm sure plenty of others do too. It's up to you how tight they are/when they start etc. The whole purpose of them is simply to lock in accrued profits as the market moves : obviously it can pull back through your stop and then continue in the original direction, but thats life mate.
I use them from time to time and I'm sure plenty of others do too. It's up to you how tight they are/when they start etc. The whole purpose of them is simply to lock in accrued profits as the market moves : obviously it can pull back through your stop and then continue in the original direction, but thats life mate.
Mgste,
I really dont want to put a spanner in your works, but you should really know all of this stuff before starting to trade real money - unless trading is more of a hobby to you.
Trading demo's provided by brokers are well known for making people rich on paper very quickly so they start paying commissions asap. Maybe you should try paper trading off real data first?
Either way, you must understand the basics like tick value, lock limit markets, roles of participants etc. Take your time. It will be worth it in the long haul!!
Good luck.
I really dont want to put a spanner in your works, but you should really know all of this stuff before starting to trade real money - unless trading is more of a hobby to you.
Trading demo's provided by brokers are well known for making people rich on paper very quickly so they start paying commissions asap. Maybe you should try paper trading off real data first?
Either way, you must understand the basics like tick value, lock limit markets, roles of participants etc. Take your time. It will be worth it in the long haul!!
Good luck.
