I have heard that the e-mini is a cheaper way to begin trading, but I am having trouble trying to understand exactly how it all works. I am aware that it is a futures contract based on the SFE SPI 200. Is it $5 per contract or $5 per index point? What exactly does the latter mean?
Which brokers offer e-mini trading? How do I find out what contracts are available at what prices? What are the stock codes?
Can somebody please walk me through how a trade takes place and how money changes hands? An example would be fantastic. I am familiar with options trading but this seems to be a little bit different.