Essentials of
futures are mini-sized contracts of ‘full-grown’ futures contracts that have existed for a long time. futures are also called eminis. futures are traded by electronic means by way of the Net as opposed to ‘full-grown’ contracts that are traded using physical exchanges. Having an access to the Net will enable retail traders to compete against institutional traders in the comfort of their own houses. The ‘e’ in Yg Mini Gold Futures futures simply stand for ‘electronic’.
Eminis that are hottest these days are the ES, YM and ER2. These are the emini contracts of S&P 500, Dow and Russell 2000 futures. Indicated above are eminis of stock index futures.
These highly preferred trading instruments are being traded by several Yg Mini Gold Futures futures traders a couple of times a day. Day trading eminis does not require you to have a big capital to risk. Several Yg Mini Gold Futures futures brokers can create an account for you with only $3,000 if not barely less, so it is no wonder that many have a go at this trade that may be quite rewarding to people who have mastered it.
But what precisely is day trading? Some folks may think this is self-explanatory, but this may not always be so. Day trading, simply put, is closing your position the same day you opened it, that is, by the end of the daily trading session which is similar to the period of a regular stock trading session. So, by 5:00 PM EST, day traders trading YM should close their positions since this is the end of the daily trading session of most electronically traded US stock index futures.
The overnight session as well as the Yg Mini Gold Futures futures margins starts right after the closing of the daily trading session. That’s why it is vital for a day trader to be out of his position by that time. Since the margins can be many times bigger than those allowed for day trading, this implies that if your account is small, you may even be unable to keep your position overnight and so, you are simply compelled to close it. Second of all, holding your position overnight is a more unsafe proposition than retaining it during the day as it will be exposed to worldwide events, often erratic and unstable that are likely to result in wild variations in futures markets. It will also be not worth it if you lose your sleep over this.
So while it’s right that many day traders trade one or two times a day, day trading is not really about repeated trading. It is simply about being out of your position before the end of the daily trading session. The Yg Mini Gold Futures futures day trading system notably differs from swing trading and position trading where you hold your position up to a few weeks and for months, respectively.
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