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Trading the new CME E-Micro's (E micro) MES, MNQ, MYM, M2K and other micros
From watching it on CTBookmap and so on, I believe that it is feasible to trade it at night. I see that I have a typo in my prior response where I said keep size below 20 when I meant at or below 2 contracts at first in MES. I will go back and fix that.
Here is the rub: Most of the bigger moves in this volatility actually took place overnight. This creates significant risk in that your stops may not trigger where you expect. If you attended the webinar I did for FIO about the Micros, you might remember the details associated with this phenomenon. Again, I would keep my size low and use hard stops in there. The risk here is $1.25 per tick per contract + costs, so you can be involved without being way over-leveraged as with the e-minis.
Risk Disclaimer: Trading Futures is not suitable for all investors. Past Performance is not indicative of future results.
If you have any questions about the products or services provided, please send me a Private Message or use the futures.io " Ask Me Anything" thread
Another option is to consider the Mini Nikkei contract. It trades on the Osaka exchange (OSE). This is *not* the low liquidity contract that trades on CME. It routinely trades volume comparable to the ES, and is quite thick (for what that means these days anyway) with several hundred on the book at each price. It is a bit less than $5 per tick. AMP offers this through CQG and also IB offers it I believe. It opens at 8pm Eastern, and often some decent moves are seen between the open and lunch time (10:30pm Eastern).
Yes, I’ve actually looked into this. Issue is I recently purchased a lifetime NT8 license which I’d rather use and it seems like there’s no way to trade the Osaka Exchange Mini Nikkei 225 on the NT platform. AMP and NT no longer work together.
Trading with a platform you like is an important factor. I also have a lifetime NT license that I abandoned about many years ago and would have given it away if it were compliant with the license agreement. I won't bash NT too bad here, but will just say that if your software is the limiting factor preventing you from exploring various markets, at least look at other options.
First post in a long time and getting back into the early morning day trading the MNQ with renko , MACD, RSI and a volume chart. Want to know if there might be an indicator you might like for pivot or trend trading. Maybe a different setting for the RSI or MACD. I have been through all of the courses, but I am not a math genius or super computer maven.
Thanks for your feedback.
I've done the same, taken all the major courses, read the books, tried dozens of indicators. I have come to the conclusion that indicators are helpful in some instances, but for day trading, price action has been a better help. I liked the books by Anna Coulling on price action and presently I'm taking Al Brooks' video class on price action and really like it. The goal is to be able to combine the indicators with price action to be able to find the higher percentage set ups. I hope this helps.
I do. Both the ES and MES have good volume during the night time but you need to be aware that volume is lighter, know when Asia opens, Europe opens etc.
There are more than a few good contracts to trade "after hours" you just need to observe behavior/volume and get a feel.
I like crude oil, gold, Aussie dollar early evenings, bonds very early mornings.
PM with any questions about Cannon Trading (800) 454-9572 (310) 859-9572. Trading commodity futures, forex and options involves substantial risk of loss. The recommendations contained in this post are of opinion only and do not guarantee any profits. These are risky markets and only risk capital should be used. Past performance is not necessarily indicative of future results.
Hi Josh, just want to probe a little deeper, your comments on NT8.
I am not associated in any shape or form, biz wise or otherwise, except
that I've also purchased a Lifetime MultiBroker license several years ago.
In spite of occasional unforeseen irregularities with its output performances,
many of which because of my own demanding setups and such, NT8 appears
to be worth its lifetime fee.
With the exception that though you may have multiple brokers,
and multiple datafeeds programmed into your buy or sell order,
like in my case, for example;
when desiring to liquidate your multiple positions, individual traders must
get out of bundled positions with each broker SEPARATELY, ONE BROKER
AT A TIME, INDIVIDUALLY;
which many times, due to emotional excitement of listening to the cash register
ringing, I was under the impression that all positions with all brokers were
already closed....
But the sound of the cash register ringing intermittently told me that there were
some live trades still going on, behind the screen somewhere, somehow....
My point is, it is terribly inconvenient to have to close out positions with each broker,
manually. But if you forget which I did on several occasions, you are doomed....
My curiosity is in what you said: ....would have given it away if it were compliant with the license agreement.
Would you mind enlightening live traders using NT8, as to the specific reasons?
And particularly, what do you mean by... if your software is the limiting factor preventing you from exploring various markets....
