IMPORTANT NOTICE FOR THOSE TRADING THE ES (S&P 500 E-mini Futures):
It's important to keep track of contract rollover dates, expiration times, and the times when there are important Fed announcements. It is also important to know your broker's Day Trading Margin and what times of the day they will require more money to be in your account if you are holding any positions past the time of day the Day Trading Margins are effective. These pieces of information can be crucial to how much money you make or lose and can make it easier to be successful when trading.
CONTRACT ROLLOVER DATES & EXPIRATIONS:
You only really need to do 4 adjustments each year as a Day Trader of the ES to either your platform or through your broker. These are when the contract you are currently trading is about to "expire". If you continue to trade a contract that has "expired" there is much less volume after a while and there is also a "last trade date" associated with each contract as well. Contract in this sense means one of the four contracts each year.
Click the following link for more info:
http://www.investopedia.com/university/intermediate-guide-to-trading-e-mini-futures/rollover-dates-and-expiration.asp
If you are using NinjaTrader to trade the ES here's a video from them that you can follow to learn how to do the rollover yourself:
https://www.youtube.com/watch?v=t_kyYlHVjIE&list=PL82A14C398CA140D7&index=10
CALENDAR OF EVENTS:
Even if you are not using NinjaTrader you can use this calendar of events (you can view different months by clicking on "Change Month" at the top of the calendar):
http://ninjatrader.com/blog/trade-desk-calendar/
Pay attention to what time of the day the major announcements (like Employment Reports or FOMC meetings that are usually on Wednesdays) happen because there tends to be a VERY HIGH SPIKE in volume immediately before those announcements and usually for a while afterwards (sometimes for the whole rest of the regular trading session that day), and those times, in my opinion, should be AVOIDED until you are VERY EXPERIENCED with trading the specific instrument you are considering trading during those times.
DAY TRADING MARGINS:
You should also be VERY AWARE of when you are holding any positions. If you have an account with a broker and you ONLY have enough for their Day Trading Margin you can have problems if you are holding any positions past their cut off time for their Day Trading Margin. MAKE SURE TO ASK WHICHEVER BROKER YOU ARE USING FOR THE CUT OFF TIMES SO THAT YOU WILL KNOW WHEN THEY REQUIRE MORE MONEY IN YOUR ACCOUNT.
IF YOU HAVE ANY QUESTIONS REGARDING ANY OF THESE SUBJECTS PLEASE CONTACT YOUR BROKER(AGE). THEY SHOULD BE ABLE TO HELP YOU FURTHER.
You only really need to do 4 adjustments each year as a Day Trader of the ES to either your platform or through your broker. These are when the contract you are currently trading is about to "expire". If you continue to trade a contract that has "expired" there is much less volume after a while and there is also a "last trade date" associated with each contract as well. Contract in this sense means one of the four contracts each year.
Click the following link for more info:
http://www.investopedia.com/university/intermediate-guide-to-trading-e-mini-futures/rollover-dates-and-expiration.asp
If you are using NinjaTrader to trade the ES here's a video from them that you can follow to learn how to do the rollover yourself:
https://www.youtube.com/watch?v=t_kyYlHVjIE&list=PL82A14C398CA140D7&index=10
CALENDAR OF EVENTS:
Even if you are not using NinjaTrader you can use this calendar of events (you can view different months by clicking on "Change Month" at the top of the calendar):
http://ninjatrader.com/blog/trade-desk-calendar/
Pay attention to what time of the day the major announcements (like Employment Reports or FOMC meetings that are usually on Wednesdays) happen because there tends to be a VERY HIGH SPIKE in volume immediately before those announcements and usually for a while afterwards (sometimes for the whole rest of the regular trading session that day), and those times, in my opinion, should be AVOIDED until you are VERY EXPERIENCED with trading the specific instrument you are considering trading during those times.
DAY TRADING MARGINS:
You should also be VERY AWARE of when you are holding any positions. If you have an account with a broker and you ONLY have enough for their Day Trading Margin you can have problems if you are holding any positions past their cut off time for their Day Trading Margin. MAKE SURE TO ASK WHICHEVER BROKER YOU ARE USING FOR THE CUT OFF TIMES SO THAT YOU WILL KNOW WHEN THEY REQUIRE MORE MONEY IN YOUR ACCOUNT.
IF YOU HAVE ANY QUESTIONS REGARDING ANY OF THESE SUBJECTS PLEASE CONTACT YOUR BROKER(AGE). THEY SHOULD BE ABLE TO HELP YOU FURTHER.
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