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When ES is ranging, what alternative instruments do you recommend?
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Created: by Croni Attachments:0

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

  #11 (permalink)
Trading Apprentice
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Croni View Post
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.

YM

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  #12 (permalink)
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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.

Over 16k contracts traded during that bar. Just like one doesn't ignore weekly API and EIA reports while trading crude, they also don't ignore crop reports while trading any ag future.

USDA report: Farmers to plant more soybeans, less corn
http://usda.mannlib.cornell.edu/usda/current/GraiStoc/GraiStoc-03-31-2015.txt

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  #13 (permalink)
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Price bar on Soybeans 3/31/15 11:00 AM



i960 View Post
Over 16k contracts traded during that bar. Just like one doesn't ignore weekly API and EIA reports while trading crude, they also don't ignore crop reports while trading any ag future.

USDA report: Farmers to plant more soybeans, less corn
url]http://usda.mannlib.cornell.edu/usda/current/GraiStoc/GraiStoc-03-31-2015.txt[/url]

Regarding that one price bar on Soybeans, 3/31/15 11:00 AM.

Yes, I have since found out that this one bar was due to a report out, and had I had an actual trade rather than a paper trade, my broker has since explained to me that he would have warned me of this report coming out in advance and to stay out of the market on that day.

I thought this bar was a result of Soybeans not being liquid. It was explained to me that they are very liquid.

I suppose what I have gathered from this is that you really must know what you are trading and the ins and outs of that particular instrument. You are right - oil has reports and OPEC announcements that come out that affect the price of the commodity, and Gold and the ES are going to react to FED announcements.

However, and I still see this as a big however, oil, gold , and the ES are not going to make a millisecond move with such a large downside that stops everyone out. They make make a major move that at least occurs over the time span of a couple of hours. At least give me 15 minutes or 30 minutes to make a major price move. Not simply milliseconds as Soybeans did with that one bar. That particular bar does not even show up on a one minute chart. Whatever fraction of a second it took the electronic trading to run through everyone's stops and take out everyone's position. More than likely a lot unsuspecting and/or unknowledgeable traders took some heavy losses there. This is a major difference that I see with Soybeans as compared to some of the more highly traded futures.

Perhaps, as such as I think this over more, I find myself still questioning the liquidity of soybeans and the fact that one report would have such an ability to make this price move that would stop everyone out holding a position, in the timespan of milliseconds.

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