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I have been trading the treasury futures for the past 3 months now and i really really enjoy it.
My main style of trading is scalping the order flow, similar to John Grady. Treasuries have a very readable order flow and highly liquid. I don't use any technical indicators, charts etc except premarket when i want to get an idea of key levels but after this i close out everything except the price ladder. Now after 11 am there is not much action in treasuries. I want to keep trading and practicing the order flow scalping to get better and recently have been attempting to watch the index futures, mainly the ES after i finish scalping the treasuries at 11 am but to be honest the ES price ladder is too fast. That thing moves faster than the speed of light. I was wondering if there are any traders here who use my style of trading but mainly focus on index futures. How do you do it? How are you able to extract information (icebergs,spoofers,absoption etc) when the information on the ladder is moving faster than you blink your eyes? Please any advice on how to do this with index futures, mainly ES, would be much appreciated.
Hi, yes it is way faster as "your" treasuries, but you should watch the NQ DOM, thereafter you will never say again that the ES moves faster as the light
ES is sort of slow and stodgy, at least many think so. NQ, on the other hand, will simply rip your head off.
I've never traded treasuries, so I don't have the experience really to respond. One thing I do know is that different markets have their own character, and that once you get used to one, others will seem very different.
By the way, trading in ES really starts to quiet down after the 11:00 or 11:30 AM ET hours. Try it at the NYSE open, at 9:30 AM.
I do know that there are many price ladder, order-flow type traders who do very well in the index futures and in others. I hope you will get some responses that will help you to get a step up in these markets. Just realize that these markets will be different, simply because the participants are different and have different objectives and timeframes.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
Thanks. I am very happy with trading treasury futures, (ZB, ZF, ZN) they work very well for me. However after 11-11:30 am there is not much action so i would like to try something different after those hours to at least practice my price ladder reading skills hence i was looking to try out the ES. Thanks for your responses guys.
I am going to only respond regarding your ES 'speed' thoughts:
To be honest, ES was a snooze fest this week with being way too slow and kinda non moving dead market. It usually moved nicely if you have paid attention in the last few months though.
Like someone said, NQ will rip you apart because it's way too fast compared to ES.
ES is very liquid and you can use your iceberg and/or order flow detectors / DOM-Tape reading method to scalp it.
NQ will actually kill you because scalpers tend to have tight stops, whereas it moves too many points instantly at most times.
Oh, don't even think about FDAX if you found ES to be a fast market.
