Comment Text:
Summary:
1. Why does CME Group call it an E-micro when it's an E-mini?
2. Is this an indication of their knowledge level?
3. Should we be afraid that they are the new Captain of this Ship?
Hello,
I will start out by saying I don't appreciate being forced to go someplace that's "better for me", when "clearly" it is not. I have had no problem in the "Cash FX" market, love Metatrader and doubled my money last year. Now I'm told that's a bad thing and that "they" are going to reduce my risk. And the way they are going to reduce my risk is by reducing the competition, raising the margins, increasing the minimum lotsize and only allowing trading of fiat currencies, not gold, except for the big dogs that got us into this mess in the first place by over-leveraging.
Now if that isn't enough stupidity, the professional "CME Group" that's going to save us all, doesn't even know the difference between a microlot and a minilot. A standard lot is $100,000, a minilot is $10,000, and a microlot is $1000. And yet you called it an "E-micro" for one-tenth of $100,000 which is $10,000. It is an E-mini.
When you finally offer the size that people can afford, the "microlot", $1000, and why they flock to the OTC "Cash FX brokers" you hate so, you will have already used the name you will need at that point in time.
How reassuring that such stupid people are making things safer for me. I haven't had a care in the world the past year, with absolutely NO risk to worry about and 10% per month return, and I am a software engineer, not a finance professional. I find the intense problems our "professional economists" have had making money more a reflection of the simple stupidity and categorization problems demonstrated by the misnaming of a product that is meant for the masses, and yet too large for the masses, and yet it is misnamed as exactly the size the masses need: a $1000 microlot. Not 1 tenth the size of a standard $100,000 lot but one hundredth the size.
I was excited when I saw the new E-micros advertised. Upon finding out that they are not E-Micros at all, I am not only angry, but downright scared that idiots are guiding this ship into a sandbar, or worse.
Marjorie Miller
