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As Dr. Brooks suggest that we should reduce the position size if the stop is too wide. But with my account I can only trade 1 contract on ES,thus I cannot reduce the position size. However, would it be alternative as I trade MES, since 10 contract of MES equals to 1 contract ES, so I can trade 10 contracts on MES nor normally, that I can reduces my size if I needed. Will this be a good option? Also how much contract in MES will be too much as in terms of slippage.
Will this be a good option?
Thank you. Do you know how many contracts in MES will be too many that will create slippage?
No slippage for any practical purposes: you won't trade 10 micro-eminis but 1 emini.
@ludopuig yes, but what I think is that I want to trade 10 MES so that I can reduce my position if the risk is too big(which I cannot afford with ES, for example 10 points risk will be $500 in ES), but I cannot reduce ES as I only have one position. so it will be ok to trade like 10 contracts in Micro ES, right.
Right, tho in my broker the commisions for 1 emini are half of 10 micro-eminis, so check that in yours.