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Picking a futures contract to trade


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Picking a futures contract to trade

  #1 (permalink)
 
ES Jedi's Avatar
 ES Jedi 
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Hello,

I have been trading full-time for 6 years now and one of the biggest things I have noticed affecting my profitability is jumping around different markets/futures contract… any insight on preferred markets to trade??? I am looking to trade just one instrument and master it… I mainly trade the indices right now rty NQ es Ym … thank you


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  #2 (permalink)
lightsun47
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Do you have experience for one market for the most part since last six years or did you keep on jumping here and there?

After watching the ES futures for six years myself, when I look at CL futures, I get 2-3x more setups than the ES as CL is a fast moving market. I might switch myself to CL soon because of this as CL gives potential to make more money than the ES, although CL can be volatile at times. Mind you I also looked at CL since these many years as well, but not as good as ES, so it's not completely jumping into unknown waters all of a sudden. Be prepared thoroughly if you plan to do something like this.

I would say only switch an instrument after you have mastered one, otherwise you will never get the 'hands up' experience of how one particular market moves - kinda like having a wife - takes time to know them you know.

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 Blash 
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Nasdaq1517 View Post
Hello,

I have been trading full-time for 6 years now and one of the biggest things I have noticed affecting my profitability is jumping around different markets/futures contract… any insight on preferred markets to trade??? I am looking to trade just one instrument and master it… I mainly trade the indices right now rty NQ es Ym … thank you


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Look into why you jump around to different markets. Take a notebook and pen and fill it. Any and all thoughts. Might take months might take a day. Depends on your honesty. How deep you are willing to go.

As a kid did you move a lot? Switch schools a lot? Or did it feel like you did regardless of whether you actually did or not. Did you jump from one friend group to another? Were your parents divorced and you went back and forth from your mom to your dad's house? Search and find it my friend.

This is a form of self sabotage and there is a reason you are doing it. Can you find it? Thoroughly examine it and take away its energy freeing yourself from it.

Ron


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  #4 (permalink)
 
ES Jedi's Avatar
 ES Jedi 
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lightsun47 View Post
Do you have experience for one market for the most part since last six years or did you keep on jumping here and there?

After watching the ES futures for six years myself, when I look at CL futures, I get 2-3x more setups than the ES as CL is a fast moving market. I might switch myself to CL soon because of this as CL gives potential to make more money than the ES, although CL can be volatile at times. Mind you I also looked at CL since these many years as well, but not as good as ES, so it's not completely jumping into unknown waters all of a sudden. Be prepared thoroughly if you plan to do something like this.

I would say only switch an instrument after you have mastered one, otherwise you will never get the 'hands up' experience of how one particular market moves - kinda like having a wife - takes time to know them you know.



Yes I get that , I find myself I’m the jack of all trades but master of none and I don’t think it’s sustainable… the hard part is picking a market and just learning it


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  #5 (permalink)
 
ES Jedi's Avatar
 ES Jedi 
Las Vegas
 
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Yes I get that , I find myself I’m the jack of all trades but master of none and I don’t think it’s sustainable… the hard part is picking a market and just learning it


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  #6 (permalink)
 
ES Jedi's Avatar
 ES Jedi 
Las Vegas
 
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Blash View Post
Look into why you jump around to different markets. Take a notebook and pen and fill it. Any and all thoughts. Might take months might take a day. Depends on your honesty. How deep you are willing to go.

As a kid did you move a lot? Switch schools a lot? Or did it feel like you did regardless of whether you actually did or not. Did you jump from one friend group to another? Were your parents divorced and you went back and forth from your mom to your dad's house? Search and find it my friend.

This is a form of self sabotage and there is a reason you are doing it. Can you find it? Thoroughly examine it and take away its energy freeing yourself from it.

Ron


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I agree it’s self sabotage, now to figure out and do the work .. thank you


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  #7 (permalink)
 
ES Jedi's Avatar
 ES Jedi 
Las Vegas
 
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I agree it’s self sabotage, now to figure out and do the work .. thank you .. sorry app won’t allow me to reply directly to you guys post … I sincerely appreciate the insight


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  #8 (permalink)
Symple
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@Nasdaq1517

This posting is a general post for educational purpose and I hope you do not mind about it. But kindly read it by your self to make up your own mind about it

The following is a comment that goes a little beyond the scope of pure futures trading. So to say a little insight what else there is in the trading universe. Thus purely informative and because I just feel like writing something here, since I was confronted with exactly the question almost two decades ago.

In summary: Depending on the trading strategy of the individual pursues and successfully trades, depending on this he will place his trades only in one market or in different ones.

Depending on the success of pure only futures trading, the amount of contracts in the successfully traded market will be gradually increased or decreased as the case may be. The best pure only futures traders, even with pyramid systems and without hedges, that I have seen in my life, were the ones who traded only one or two markets. If there were two, then these markets were directly or indirectly, in negative or positive correlation, connected with each other.

However each individual wants to understand this for himself or wants to take it as a suggestion is up to him.

If I now look beyond the above defined edge of my plate, then I can very well be on the move in different markets at the same time without getting into great stress. Now how does this work according to my statement above?

This is where the approach of the trading strategy or trading strategies comes into play

For example, on Sunday evening I could analyze all the data of various futures markets and define the entry levels, with the trading strategy for the coming week or days behind it. If there were surprises from Sunday night to Monday, then was also times for the cat, but the basic strategy was there and this could also be adjusted again briefly with alternatives.

Only here I'm talking about option strategies of any kind which also includes hedges with futures and options among themselves. The universe of this kind of trading is huge and can also make fun as the universe of pure, future trading can make fun.

As I said: I was here simply to address this time that it also goes differently. To go further into the addressed in this thread is beyond the scope of the question of the thread starter. But I think that education is always worth posting, even if it is not always absolutely in line with the given topic.

Have a sunny weekend

Symple

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 blackgrey45 
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I have been switching markets too. I've traded micro gold, micro euro, MES, MYM, ZN just to name a few. I am gravitating toward markets that have consistent large moves which are the MES and the MCL and now I focus on those markets.

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 processing 
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1. Pick an instrument or contract with enough volatility.
2. Pick a timeframe that suits your temperament.
3. Pick something that suits your timezone and your sleep patterns.
4. You might find on some days/sessions there is no setup. This is completely fine. You don't need to be in the market all the time. Learn when to enter, hold and when to fold. Trading is a lot like poker.

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