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US Stock Indices: ES, NQ and YM ("intermarket analysis")
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US Stock Indices: ES, NQ and YM ("intermarket analysis")

  #1 (permalink)
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US Stock Indices: ES, NQ and YM ("intermarket analysis")

Hey folks,

I want to specialize in (US) stock indices trading and right now I am watching ES, NQ and YM...

does anyone have experience trading one or more of these? does it make sense to look at ES AND NQ or all three at the same time to get some benefits over watching only one?

my observations so far are that
  • ES and YM are correlated to a very high degree...
  • NQ moves less correlated to ES/YM...
  • ES is the least volatile one...
  • NQ might sometimes lead the others...


would be great if anyone has other insights...


Last edited by Big Mike; December 17th, 2010 at 07:22 PM. Reason: moved to index futures
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  #3 (permalink)
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ikeaboy View Post
Hey folks,

I want to specialize in (US) stock indices trading and right now I am watching ES, NQ and YM...

does anyone have experience trading one or more of these? does it make sense to look at ES AND NQ or all three at the same time to get some benefits over watching only one?

my observations so far are that
  • ES and YM are correlated to a very high degree...
  • NQ moves less correlated to ES/YM...
  • ES is the least volatile one...
  • NQ might sometimes lead the others...


would be great if anyone has other insights...

The stock index you decide to trade depends on a variety of factors.

Ask yourself the following:
What is your trading strategy?
Intra-day trading, swing trading?
If intra-day, are you scalping/price target based or following intra-day trends?
What amount of money are you willing to risk per trade based on your account size?

Each stock index has different risk levels, proficiency levels and IMO, certain strategies that work better than others.

It does make sense to watch all three but don't forget TF. Sometimes one market will move before the others but never take a trade that doesn't fit into your trading strategy. Example, you're trading/watching YM and you see the NQ burst to the upside. You shouldn't go long on the YM just because of NQ's move alone. Your market should provide you with an entry signal first. There are times when these markets make independent moves based on an underlying stock, etc. But it can be a signal to get ready for a trade.

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  #4 (permalink)
Elite Member
Stockholm
 
Futures Experience: Intermediate
Platform: NinjaTrader, Multicharts, Tradestation
Favorite Futures: US and Canadian Stocks
 
ikeaboy's Avatar
 
Posts: 59 since Jun 2010
Thanks: 21 given, 5 received


Private Banker View Post
The stock index you decide to trade depends on a variety of factors.

Ask yourself the following:
What is your trading strategy?
Intra-day trading, swing trading?
If intra-day, are you scalping/price target based or following intra-day trends?
What amount of money are you willing to risk per trade based on your account size?

Each stock index has different risk levels, proficiency levels and IMO, certain strategies that work better than others.

It does make sense to watch all three but don't forget TF. Sometimes one market will move before the others but never take a trade that doesn't fit into your trading strategy. Example, you're trading/watching YM and you see the NQ burst to the upside. You shouldn't go long on the YM just because of NQ's move alone. Your market should provide you with an entry signal first. There are times when these markets make independent moves based on an underlying stock, etc. But it can be a signal to get ready for a trade.

thanks... i am trading intraday mostly on tick charts... and i try to catch intraday swings during the day... my strategy is simple... buy in a pullback when momentum has gone....

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