Exit strategy ticks for E-Mini
Exit strategy ticks for E-Mini
I recently opened a demo account to trade the E-Mini. I have been trading forex but wanted to try my hand at some futures. I was able to get the instrument figured correctly for the DOM but I am having problems with setting the profit target values in ticks. When I set it to 5 ticks, I was closed out almost immediately. Can someone who perhaps trade the E-mini assist me in figuring out the tick values for exit strategies for the E-Mini. I must be doing something wrong.
Re: Exit strategy ticks for E-Mini
Thanks Escamillo,
I was looking more at just attaching one of the prebuilt exit strategies for the DOM. The exit strategies ask for ticks or percentage. I believe that the tick value input is different. Similar to the input values that I have to enter when trading 5 digit forex instruments. A 20 pip stop input would be 200 with a 5 digit instrument. Hope this is not too confusing.
Best
I was looking more at just attaching one of the prebuilt exit strategies for the DOM. The exit strategies ask for ticks or percentage. I believe that the tick value input is different. Similar to the input values that I have to enter when trading 5 digit forex instruments. A 20 pip stop input would be 200 with a 5 digit instrument. Hope this is not too confusing.
Best
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Re: Exit strategy ticks for E-Mini
Hello kdmezzo,
You are right, for both FOREX and futures 1 tick in terms of settings for exit strategies is 1 minimum price movement. It depends on price scale and min. movement settings of the symbol in your QuoteManager. That's why for forex when customers expect 20 "classical" ticks it should be 200 ticks in MC, however we are thinking of improvements for forex traders in future.
As for quick execution of your exit orders on futures, they may several reasons. First, make sure the settings in QM (right-click on the symbol -> edit symbol... -> settings) are realistic. Secondly make sure the symbol mapping is set up correctly. This article may help you.
You are right, for both FOREX and futures 1 tick in terms of settings for exit strategies is 1 minimum price movement. It depends on price scale and min. movement settings of the symbol in your QuoteManager. That's why for forex when customers expect 20 "classical" ticks it should be 200 ticks in MC, however we are thinking of improvements for forex traders in future.
As for quick execution of your exit orders on futures, they may several reasons. First, make sure the settings in QM (right-click on the symbol -> edit symbol... -> settings) are realistic. Secondly make sure the symbol mapping is set up correctly. This article may help you.