When ES is ranging, what alternative instruments do you recommend? - futures io
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When ES is ranging, what alternative instruments do you recommend?


Discussion in Emini and Emicro Index

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When ES is ranging, what alternative instruments do you recommend?

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  #1 (permalink)
Zurich/Switzerland
 
 
Posts: 34 since Jan 2014
Thanks: 18 given, 6 received

Hi guys,

I started trading the ES, but on some days it's just ranging and not producing any setups for my system. What non-correlated instruments do you recommend for those days instead? Goal would be that I can trade every day. And since I subscribed to Kinetick's CME data, preferrably CME instruments. Decent volume would be nice too.

Thx, Chris


Btw: I day-/swingtrade mostly using a supply/demand zones, vsa and volume profiles, if that's important.

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  #3 (permalink)
Luxembourg
 
Experience: Advanced
Platform: NinjaTrader
Broker: IB / Kinetick
Trading: ES, CL
 
Fadi's Avatar
 
Posts: 485 since Apr 2012
Thanks: 663 given, 643 received


I have a basket of 24 US Futures contracts that I continuously watch and trade using the same technical analysis and strategy all across.
They are all trading on CME exchanges, so it shouldn't be a problem.
You can try your take on my watchlist:

Equity Index
ES
NQ
YM
NIY

Currencies
6E
6J
6B
6A

Treasuries
ZN
ZF
ZB
ZT

Energy
CL
NG
HO
RB

Metals
GC
HG
SI
PL

Agriculture
ZC
ZS
ZW
LE

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  #4 (permalink)
Birmingham UK
 
 
Posts: 336 since May 2014
Thanks: 7 given, 64 received

DAX is trading well these days, but better before ES opens although good recently generally slow in the US Session, YM and NQ seem to follow ES closely so not much point there.

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  #5 (permalink)
Chicago, Illinois
 
Experience: Intermediate
Platform: Ninja
Trading: ES
 
Posts: 78 since Mar 2013
Thanks: 775 given, 62 received

ES still offers good trading during ranges if you are familiar with range rules.

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  #6 (permalink)
London + UK
 
Experience: Advanced
Platform: Proprietary Analytics
Broker: Multiple broker + Multiple feed
Trading: Currently European and US equities
 
sands's Avatar
 
Posts: 443 since Dec 2013
Thanks: 249 given, 227 received

I'd trade the ranges, but would try getting up for the European open and trading the EU indices. Of course its a big difference in hours if you're in the US, but worth it for the potential setups if they match your needs.

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  #7 (permalink)
New York, NY, USA
 
 
Posts: 105 since Jun 2013
Thanks: 2 given, 46 received

Unfortunately it appears much too often volatility these days is heavily correlated across instruments. Once a macro story comes out they're all hopping, otherwise it's a wait and see situation.

Personally I go between ES/YM/NQ and CL, so it's equities vs a commodity. They constantly swap correlations, one day both are moving together tick by tick, the next they're moving opposite.

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  #8 (permalink)
Amarillo Texas/USA
 
 
Posts: 63 since Dec 2014


Fadi View Post
I have a basket of 24 US Futures contracts that I continuously watch and trade using the same technical analysis and strategy all across.
They are all trading on CME exchanges, so it shouldn't be a problem.
You can try your take on my watchlist:

Equity Index
ES
NQ
YM
NIY

Currencies
6E
6J
6B
6A

Treasuries
ZN
ZF
ZB
ZT

Energy
CL
NG
HO
RB

Metals
GC
HG
SI
PL

Agriculture
ZC
ZS
ZW
LE

If you take a look at Soybeans ZS at 3/31/15 12:00 P.M. That one bar, for ever more should tell you how dangerous Soybeans are. Are Soybeans that illiquid a commodity to produce that one bar? That one bar alone.

I think the above quoted gentleman is playing with dangerous by diversifying so far with his futures.
As to narrowing down safe trade able instruments, I only see Oil, Gold, and the E-mini.

That makes the field a bit simpler.

If anyone can clue me into any other futures instruments to look to that are highly liquid, let me know.
Perhaps, just three are enough.

I have not yet explored the charts on natural gas enough to have an opinion on that.

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  #9 (permalink)
Portland, OR, US
 
Experience: None
Platform: Investor r/t, X_Trader, ToS
Broker: AMP/IQfeed
Trading: ES
 
zander931's Avatar
 
Posts: 493 since Nov 2012
Thanks: 1,496 given, 1,208 received


e4williams View Post
If you take a look at Soybeans ZS at 3/31/15 12:00 P.M. That one bar, for ever more should tell you how dangerous Soybeans are. Are Soybeans that illiquid a commodity to produce that one bar? That one bar alone.

I think the above quoted gentleman is playing with dangerous by diversifying so far with his futures.
As to narrowing down safe trade able instruments, I only see Oil, Gold, and the E-mini.

That makes the field a bit simpler.

If anyone can clue me into any other futures instruments to look to that are highly liquid, let me know.
Perhaps, just three are enough.

I have not yet explored the charts on natural gas enough to have an opinion on that.

Not sure I would classify gold & crude as safe, especially for a beginner (which is what the OP identifies as).

Treasuries and currencies are plenty liquid, as well.

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  #10 (permalink)
Kansas City, MO U.S.
 
 
Posts: 211 since Mar 2015
Thanks: 301 given, 122 received


When /ES ranges, it's generally 8-12 ticks. Not exciting but there is money to be made. Precise entries help.

I don't mind trading in a range, but during a trend with very little momentum that goes on for a while, I will generally go trade oil. Would not recommend trading oil as a foray out of boredom. It can slap you hard. Harder than the spoos will. I track both markets closely. And avoid anything that isn't liquid.

I traded NQ for a while, didn't lose any but didn't really like it. Felt like a thinner market.

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