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I'm fairly new to trading futures, and love Al's methods. I'm doing well using his approach on a very small scale as my account size is still tiny. One thing that worries me is flash crashes. With the amount of leverage available in futures, even holding 1 contract seems like it could be catastrophic. Specifically I'm worried about the scenario where my stop triggers but I get filled at a price well below it. Was hoping someone with more experience could comment on what it's like when one actually occurs, and how often these actually happen in the futures market. I'm thinking with all the liquidity in the larger products I probably don't need to worry... Thanks in advance.
Specifically I'm worried about the scenario where my stop triggers but I get filled at a price well below it. Was hoping someone with more experience could comment on what it's like when one actually occurs, and how often these actually happen in the futures market.
For the EMINI, you won't have any problem with slippage if you avoid trading during FOMC minutes news release, at 11 am EST one Wednesday a month (not every month, check the Fed calendar or follow Al's blog, Brad will tell there). Sometimes bar 7 (in the EMINI) day session chart has a small jump, but it is just 1-2 points and most of the days is nothing.
In short, after 10 years of trading (never traded the FOMC news), I have never had a problem with slippage bigger than 1-2 points, and it has been one or maybe two times that happened. So no big deal.
Thanks for the quick response!
