I've been reading through the ZN Classroom as well as the All You Need section. I have been trading the ES solely for the past 9 months.. I am breaking even or making some money now (only looking for $100 a day as my current goal). But, given the amount of focus you have on the ZN -- and in the thought that maybe I could make money more easily or just more consistently, I am looking at the 6E and ZN, per your suggestion to that effect.
Today, I traded the ES first. I noted what Jeff Castille and Cunparis said in All You Need about the 6E being correlated, and I noticed that, too. I made $75/1 contract in the ES (all of these trades are in SIM, as I'm trying to work with some of the info on futures.io (formerly BMT)).. then switched over to the 6E and gave back some and then moved it up to $125. Liked the feel of the 6E - maybe it was just today's action. Don't know.
Shut down those charts and opened the ZN and promptly lost the $125 and then some. LOL. I don't yet have any of your indicators, etc. but I am looking at that and downloaded some today. I came into the market (ZN) right around 10:30. Maybe I'll try the ZN first tomorrow to see the way it moves earlier (know the news starts at 8:30 EST tomorrow - unemployment claims).
Thanks for all the stuff you are sharing here. It helps a lot to have so many people sharing about similar markets. I am trying to decide if I should just switch from the ES or just stick with it now that I've stayed with it so long. And, just looking at trying out some of the indictators you're developing to see what to do with my trading next. Thanks!
Platform: NinjaTrader, Tradestation, Think Or Swim
Broker/Data: Mirus Zen-Fire
Favorite Futures: ES
Posts: 15 since Sep 2009
Thanks: 5 given,
Sharky, thanks for all your work on these indicators.... I loaded them last night, read all 21 pages of the thread.... Found all of the indicators and I ran it today and traded in sim. I only made two trades; (3 target, 6 stop). They were both successful but I was hesitant as I am a little unclear on the rules. I see your original rules in the beginning of the thread, but I know you have made changes to the indicators. I actually felt like I forced the trades. Today seemed to be just a flat day.
Can you send a picture of your 4 & 11 range chart and the trades you made today?
@ goldilocks my advise is to pick one market to trade when you switch back and forth you never learn the behaviour of any markets,myself and some others now have all picked our favorite market and focused on just it for hrs and hrs and weeks and weeks to remember that particular behaviour,its ok to have opposing markets like the es/zn because they do the oppisite so its good to watch both but if you want to be a good scalper you have to understand what your scalping...sharky
sp139214 i didnt trade today as i was working on something else,the charts and indicators are for you guys,im just showing you different ways to enter trades so you dont only have one method just pick something your comfortable with and make your own style im just pushing you to in the scalping direction not trying to get you to trade exactually like me,no matter how well or how bad i trade i cant make you take the same trades or have the same mindset of even think like me im just giving you ideas for you to expand on...sharky
I learned to trade Interest rates using: 30 yr Bonds, 10 & 5 yr notes. Also kept ym, es, & cash indexes, prem, etc. in view. As I was in a room the moderator knew interest rates much better than I, and it was at a time when Greenspan was the Cheese, so you would expect bonds to be running the show a lot of the time. Often the news would determine the move and sometimes it would mean more to one side or the other; e.g. an auction could keep Interest Rates in check for a good part of the day. Among the interest rates one might take the lead and you could follow with another, say 10's pull out and bonds follow. Likewise among the Indexes. The Yield curve would change gradually and there were was probably more arbing around that time, but any inequality between two like instruments would often tip traders off. The inverse correlation between Indexes and Bonds isn't always straight forward--that would be too easy. If you watch those markets you will begin to notice a leader and a follower. Bonds can move quickly but you need at least a 3-5 tick lean. 10's move more slowly and ticks are half the value again. If you get quotes from the pit (or perhaps a good squawk) that can be helpful. Other than levels, traders have trades in bonds working off the pit open which is usually a range of 2-3 ticks in Bonds, half-back trades (50%) retrace, etc. Those traders can read the tape and with just an order book.
I know the 6e was mentioned. I've found it to be pretty reliable and a quick mover, and it is correlated to the US market. I don't think that it is as skittish as the TF or YM. You can take your profit and get out. It may require a larger stop depending on how you trade it. As Sharky suggested you might want to get acquainted with it and see what it will do for you. The 10's require some patience. I'm not sure of the volume now compared to 3-4 years ago, but I recall some pretty big orders coming in on the bid or ask...and it would leave little doubt about who was in charge. You can add or delete markets on your screen or use a ticker for the ones you use as a reference, and you may only glance at them for assurance for holding, etc. I wouldn't suggest trading them all. There isn't any need to in the first place. I get manic trading more than one market at a time, a least on the same time frame.
The following 5 users say Thank You to tomasito for this post:
my sugestion would be to try 12 range 6e,or 4 range zn or the cl alittle bit slower of a market the es is all over the place and most traders cant keep up,its not about the market you trade but if your making money everyday or not...sharky