Trading just one instrument

April 14th, 2018, 08:16 PM

I asked the very same question in my trading journal; here's the collective thoughts of the crowd:

Rrrracer's complete noob starting from scratch journal

OK, question for the audience.

I'm thinking about taking trades on NQ and/or ES in addition to 6E. At this time, I'm only getting 1-2 legit (to me) trades a day in the Euro, and this causes me to sometimes force trades that aren't there, …

FWIW I'm still on one instrument (6E) and feeling a lot more in the driver's seat these days. Good luck!

April 16th, 2018, 07:09 AM

Trading 1 instrument leads to over-analyzing & FOMO - especially if you trade with fundamentals.

April 19th, 2018, 09:01 AM

I do not have the patience or attention span to watch one market do nothing all day. Watching 3 do nothing, no problem.

Presently have 8 markets up. With 8 up, usually have 3-4 worth trading. If markets are really moving, drop down to only markets moving, slower/dead markets are minimized. Know all of them very well and all correlate with at least 2 other markets.

Doing this will also tell which markets "speak to you". The ES and I don't get along at all, but have a profitable relationship with NQ and RTY.

April 19th, 2018, 01:03 PM

dbarno

I do not have the patience or attention span to watch one market do nothing all day. Watching 3 do nothing, no problem.

LOL

I didn't always feel this way, but I think it's important for a beginner to focus on and master one market first before they attempt to move on to others.

February 22nd, 2021, 12:08 AM

I agree. You just need one instrument to be profitable.

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Trading just one instrument

Discussion in Psychology and Money Management

Trading just one instrument