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Newbies Stop Trading the ES


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Newbies Stop Trading the ES

  #1 (permalink)
GILD
Saint Louis+Missouri/United States
 
Posts: 9 since Mar 2014
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If your successful at trading ES Im not telling you to stop trading it. Do what works for you , but I feel that novice traders should trade other markets such as treasuries and Natural Gas futures. I know many traders that specifically look to take advantage of newbies by flashing fake orders and using automated trading with dma. I highly recommend trading natural gas because it has just enough liquidity and volatility. I can actually read the dom when trading NG. With ES there are way to many people trading at times to read the dom and trade based off of it. What do you guys think?

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  #3 (permalink)
 
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 sands 
London + UK
 
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If a person wants to trade on a weak premise and practically gamble there monies, there is nothing anyone will say that will dissuade them.

I would say that anyone give it a try with money they can afford to lose and see what they can learn over a few months being in the mix, rather than discourage someone completely.

Agree you need to have very fast eyes to trade visually but there are plenty of tools to help these days, maybe lookup the bookmap webinar on futures.io (formerly BMT), it may help you!

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  #4 (permalink)
 
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 Seahn 
New York, New Jersey/USA
 
Experience: Intermediate
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I only day trade the ES and I love it. It moves very predictably with moderate volatility which I believe is a very good thing when starting out. You do need to learn its particular tendencies, traps, failures etc. but after you do that its almost like taking candy from a baby. I think the popular theory that the ES should be avoided because you are playing with the big boys and can never beat them is hogwash, they are not magicians what they are doing is right there on the chart you just have to read it.

Another great thing about the ES is you can trade 1 contract or 100 with practically no issues with slippage or fills. This makes scaling up as your skill improves very easy.

I tried gold and crude (GC and CL) for a while and got my ass handed to me by the volatility and slippage. I certainly would not recommend natural gas with the way its been trading lately to a beginner.

Like everything else in trading you have to do what fits your own situation.

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  #5 (permalink)
 
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 Big Mike 
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Picking an instrument based on facts instead of opinions is covered here in great detail.



Mike

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  #6 (permalink)
 
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 MarthaChiriboga 
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I went to this link and there are many video links. I didn't find the one that helps "pick an instrument based on facts instead of opinions". Would you kindly provide the direct link, please?

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  #7 (permalink)
 
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 Big Mike 
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MorningStar View Post
I went to this link and there are many video links. I didn't find the one that helps "pick an instrument based on facts instead of opinions". Would you kindly provide the direct link, please?

That is the direct link, but like it says at the top of the page - it's only available to Elite Members.

Mike

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  #8 (permalink)
 
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 tigertrader 
Philly, Pa
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bottom line is, if you know how to trade, you can make money trading any instrument, however, trading es has a number of advantages, not the least of which are liquidity and scalability, but beyond that, it is a technical market where market internals provide a leg up on timing your trades, that is absent with trading cl, gc, & zb. this is a tremendous advantage, and one of the reasons i love trading es. it's also an very efficient market that is positively and negatively correlated with a myriad of instruments.

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  #9 (permalink)
 
MarthaChiriboga's Avatar
 MarthaChiriboga 
West Palm Beach, FL / USA
 
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TigerTrader,

You are legendary that sometimes you forget who you're addressing. The topic of this thread, "newbies stop trading ES".

I'm a newbie and that's why it caught my attention. However, you started your post with, "If you know how to trade..."

Uhm, I don't know how to trade. Who do you recommend has the most comprehensive course on ES trading that correlates with all the bells and whistles that you use as indicator/signals?

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  #10 (permalink)
 
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 Big Mike 
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MorningStar View Post
Who do you recommend has the most comprehensive course on ES trading that correlates with all the bells and whistles that you use as indicator/signals?

Do yourself a favor and read this thread front to back, every post:



You are already on the wrong path if you are looking for some 'course' to teach you how to trade. By reading the posts in that thread it will be (or should be) very obvious where all the "newbies" make mistakes, and then you can make decisions to avoid these mistakes. One of which is buying courses and indicators or following any trading room.

Mike

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Last Updated on March 30, 2014


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