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Re: Which contract should a beginner trade?
Nick - Here's how I would view the ES in terms of scalping:
+ Able to drop a decent amount of contracts with no problem.
+ If you can do it right, 12.50/tick will work for you.
- To exit a position, it's safe to assume the price must be traded through when using limit orders. Ex: if you are trying to take 2 ticks from your entry, you will actually need it to move +3 in your favor as the 'line' to get filled on the ES is rather large.
- If you thrive on more 'wild' spikes (like ER2), you won't see them on the ES nearly as often. Again, if you need those type of moves, the ES will be hard to trade. If you don't want some wild spikes, like myself, then the ES is a more 'smooth' market in comparison.
I'd suggest testing your ideas out on a simulator, but you need to find one that is realistic to how the ES actually trades. There's too many that assume you get filled if your exit price is just touched. Not so in real-time.
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