Hey Fat Tails How Have you Been?
Any how I have trade all three of these and trade the ZB exclusively now for a two years.
The ES; I don't like the ES for a few reasons and mostly because I continually got my ass kicked...but first you need wide stops for the "stop runners
" Stops are obvious and in order to stay in the position you need to be in less obvious position.
The per tick is only 12.50 and commission is 3.68RT on Ninja Full Lic. A 1 tick loss means you no need 16.18 to break even if you have a 1 tick gain you still are down 7.36 so you need at least 2 tick to break even...
The ZN has huge depth and can move on data days. The commission is 2.28 and per tick is 15.62 so after a 1 tick loss 17.90
and a 1 tick gain you are offset only 4.56 so you still need 2 ticks
but actually end up with 8.78. Much better than the ES
The ZB moves twice as much as the zn and has a 2.28 commission but a 30.25 per tick pay out. So a 1 tick loss is 32.53 then a 1 tick gain is 27.97 and yes you will need 2 ticks to better than break even but you take is 25.69. Big difference.
I use the UB as a directional indicator and Jigsaw as an entry DOM
. The thing about the Jigsaw DOM is that it will show you where your order is in the line up. (see pic)
The UB moves further and faster than the ZB but always in unison. The ZN can be used as a confirmation but I don't use it any more. I have boiled 4 screens down to one and trade much better for it.
My theory is the the UB and ZB are traded by big players using algo's based on the ZN movement. They use ZN as a major direction and UB and ZB to capture Alpha$$
The blue box (1L 122) means my 1 long is 122 in line
Very useful when you can see who is adding and pulling there orders.