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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Matthew L. Jones who wrote (37692)10/20/1999 9:04:00 AM
From: Gary E  Read Replies (1) of 44573
 
Hi Matt,

First off ,,there is no such thing as a stupid question, and welcome to the thread. I give it a try and tell you just about all I know about futures, that should take aprox two mins.

If you want to trade the small contract ES99Z ,, this is valued at $50.00 per point and trades in quarters so when you look at the chart you buy one contract at 1280.50 and you sell it at 1280.25 ,,now if you sell it a point higher you make 50 buks.

Trading is done in several ways but most of us use a broker with a point and click order entry system. Slippage is what happens when everbody wants the same price and we all get in line for that price and then of course they raise it and you get what you get.

The broker that I use zapfutures.com has a pretty good explanation of how other things work as well.

Now that I have confused and propably screwed things up a bit, there are others here with more correct answers than I.

Again ,,welcome aboard

Hal
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