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Futures Consolidation
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Futures Consolidation

  #1 (permalink)
Elite Member
Santa Cruz, California
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: ES
 
Posts: 19 since Apr 2015
Thanks: 206 given, 12 received

Futures Consolidation

Greetings All:

I'm a new trader. Trading the ES mainly and taking a few cracks at the YM. However, I am growing weary of this consolidation and unpredictable movement of the both of them. And as I understand it, this is expected to go through the summer. These 1 tick moves can't be making anyone any money. I'm a one contract trader at this time with a 6-8 tick stop loss and a 6-8 tick target but I don't see anything worth trading on either the ES or the YM. I have trading rules. But what I don't have is another instrument in mind to trade. Does anyone have any suggestions?

Thanks for any replies I receive.

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  #2 (permalink)
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  #3 (permalink)
Membership Temporarily Revoked
Amarillo Texas/USA
 
Futures Experience: Intermediate
Platform: none
Favorite Futures: Stocks
 
Posts: 63 since Dec 2014
Thanks: 30 given, 12 received

another insturment



dmeachy View Post
Greetings All:

I'm a new trader. Trading the ES mainly and taking a few cracks at the YM. However, I am growing weary of this consolidation and unpredictable movement of the both of them. And as I understand it, this is expected to go through the summer. These 1 tick moves can't be making anyone any money. I'm a one contract trader at this time with a 6-8 tick stop loss and a 6-8 tick target but I don't see anything worth trading on either the ES or the YM. I have trading rules. But what I don't have is another instrument in mind to trade. Does anyone have any suggestions?

Thanks for any replies I receive.

I like Gold, /GC. Not the roller coaster that the ES is. Been in a choppy sideways movement for weeks now however I think that Gold is easier to trade than the ES or Crude oil.

Gold moves slower and I think that this may be because there are fewer players in Gold and there is more dumb money playing Gold.

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  #4 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,107 since Dec 2013
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Forum Reputation: Legendary

If your looking for action, take a look at Crude either NYMEX/CL or ICE/B

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  #5 (permalink)
Elite Member
Texas, USA
 
Futures Experience: Intermediate
Platform: X_TRADER Pro, Custom
Broker/Data: NxCore
Favorite Futures: Futures, Spreads
 
Hulk's Avatar
 
Posts: 215 since May 2014
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dmeachy View Post
Greetings All:

I'm a new trader. Trading the ES mainly and taking a few cracks at the YM. However, I am growing weary of this consolidation and unpredictable movement of the both of them. And as I understand it, this is expected to go through the summer. These 1 tick moves can't be making anyone any money. I'm a one contract trader at this time with a 6-8 tick stop loss and a 6-8 tick target but I don't see anything worth trading on either the ES or the YM. I have trading rules. But what I don't have is another instrument in mind to trade. Does anyone have any suggestions?

Thanks for any replies I receive.

I would say that ES is the best instrument to trade if you are new. It allows you a lot of "think and react time". You are not rushed and you dont panic as much and avoid those WTFDIDIDO situations. Thinner markets can move really fast at times and if you are trading with small stops, you are likely going to panic during sudden moves, take slippage on your stops and in general be more uncomfortable trading them than trading ES. Also, if you can trade ES successfully with 1 contract, you can just increase your size to make more money whereas in CL, GC and some of the other thinner markets, its not as easy to increase size. Sure, you can catch one of those quick 50-100 tick runs once in a while but if you are looking for consistency, I would say stick to ES and master trading it in all market conditions. It still moves 18-20 points a day so I am not sure what you mean by 1 tick moves.

My 2 cents.

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  #6 (permalink)
Banned: Vendor self-promotion
Phoenix AZ
 
Futures Experience: Advanced
Platform: IB
Broker/Data: IB
Favorite Futures: NQ
 
DbPhoenix's Avatar
 
Posts: 470 since Dec 2012
Thanks: 95 given, 1,543 received


dmeachy View Post
Greetings All:

I'm a new trader. Trading the ES mainly and taking a few cracks at the YM. However, I am growing weary of this consolidation and unpredictable movement of the both of them. And as I understand it, this is expected to go through the summer. These 1 tick moves can't be making anyone any money. I'm a one contract trader at this time with a 6-8 tick stop loss and a 6-8 tick target but I don't see anything worth trading on either the ES or the YM. I have trading rules. But what I don't have is another instrument in mind to trade. Does anyone have any suggestions?

Thanks for any replies I receive.

Consider the NQ. I began trading it in '98, and though I've explored other instruments, I've never found anything I like as well.

This isn't new, but it is still pertinent: The Easiest E-mini?

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