Learning more about the Futures S&P 500 Mini

[CATAPILLAR]

I have been a share trader in the Australian share market for 12yrs approx.
I would like to learn more about the Futures Trading but not Options.
But I am interested in the S+P500 Mini.
Can anyone advise me on any books that could give me more info. and understanding.
I currently play on MOCKTRADING. COM but I need to know more about setting stops and protecting my position.

 

[Alpha_Bet]

What long stoppie on ES would've helped on 06/05. The one .25 away from the low.
You should look at your risk/reward ratio. ES is no different to any other market.

Edited: Clarification.

 

[Timmy]

Catapillar - trading simulators like those offered by many futures brokers will be helpful in learning about the mechanics of placing/moving/trailing/cancelling/execution of stops etc. Interactive Brokers is a popular choice, for example, but there are others, eg. Velocity Futures offer a simulator you can download (I haven't used it, just an example), Ninja Trader too, and there are more.

Have you checked out the information on the CME website about futures generally, the Emini S&P Futures specifically, and Globex? A bit dry, but its the horse's mouth.
http://www.cmegroup.com/
http://www.cmegroup.com/trading/equity-index/
http://www.cmegroup.com/trading/equity-index/us-index/sandp-500.html
http://www.cmegroup.com/globex/introduction/

 

[supermatt]

I am looking into futures but I just wanted to know something as I am curious at to why...

Why do places in the US charge extremely low commissions compared to Australian brokers. Comparing share brokers here and over there its like 6$ compared to 30 $ and upwards here.

Then futures comparison I found an Australian place who wants $10 per round trip on futures and in the US you can get $2 a round trip.

do most people open accounts off shore?

seems like hardly a fair deal living here.

sorry if this has been repeated but couldnt find much anywhere.

 

[AmpFutures]

I am looking into futures but I just wanted to know something as I am curious at to why...

Why do places in the US charge extremely low commissions compared to Australian brokers. Comparing share brokers here and over there its like 6$ compared to 30 $ and upwards here.

Then futures comparison I found an Australian place who wants $10 per round trip on futures and in the US you can get $2 a round trip.

do most people open accounts off shore?

seems like hardly a fair deal living here.

sorry if this has been repeated but couldnt find much anywhere.

I would think that it mostly has to do with competition and technology. In the 90's the prices for discount trading was just under $20 a round turn. But we used to call in our orders and the difference was huge compared to today. I also worked on the floor for sometime at the cme from 2000-'07 where the price wars continued. Until everything dried up because the cost to do it online was so much less, why would you call in your order. An experienced self-directed trader wouldn't pay $30 a round turn (for any futures market,but that's just my opinion).

 

[lindsayf]

I am looking into futures but I just wanted to know something as I am curious at to why...

Why do places in the US charge extremely low commissions compared to Australian brokers. Comparing share brokers here and over there its like 6$ compared to 30 $ and upwards here.

Then futures comparison I found an Australian place who wants $10 per round trip on futures and in the US you can get $2 a round trip.

do most people open accounts off shore?

seems like hardly a fair deal living here.

sorry if this has been repeated but couldnt find much anywhere.

I'd be happy if you could share the $2 per round trip broker with the rest of us please! I have an account in the US and pay $4.40 per round trip.- and this seems competitive with other retail futures brokerage rates. $2 would be possible for a very high frequency trader I suppose - that may be you?

From what I understand you can get share brokerages of about $20 round trip from CMC and about $12 at IB. But it seems it is cheaper for retail equity traders in the states - lucky buggers.

 

[ThingyMajiggy]

I am looking into futures but I just wanted to know something as I am curious at to why...

Why do places in the US charge extremely low commissions compared to Australian brokers. Comparing share brokers here and over there its like 6$ compared to 30 $ and upwards here.

Then futures comparison I found an Australian place who wants $10 per round trip on futures and in the US you can get $2 a round trip.

do most people open accounts off shore?

seems like hardly a fair deal living here.

sorry if this has been repeated but couldnt find much anywhere.

from my investigations, off shore craps all over local, had negotiations with a few big name locals and they couldn't come close to US prices. I have under $2 rt, getting less the more volume I do. best I could muster here was $4, after about a month of trying to get them as low, but they just couldn't do it in the end.

makes a big, big difference at the end of the day.

 

[Wysiwyg]

I had real time data feed of the 1 minute ESH12 this morning and man it was like watching grass grow. Very boring so what is the attraction?

 

[tminus]

IB charge $10 Australian SP200 Futures(round trip) how much do they charge for the ES mini?

 

[Wysiwyg]

Don't know for one.

 

[tech/a]

http://www.interactivebrokers.com/en/general/about/mediaRelations/futuresRepricing.php?ib_entity=llc

 

[tminus]

Thanks $4.80 round trip is inviting.