I trade with Sierra and TransAct too. Don't know about the ES being dried up. Last time I checked the liquidity was greater than any other asset on God's green Earth.
As far as the best indicators and time frames I think you're going to get a different answer from everyone here.
My suggestion is to just look at the higher time frames. I know when I started out I was under the impression that more bars = more trades = more money. And oh wow how I was wrong.
Sun Tzu once said that he could predict who was going to win a battle based on whichever general made the most calculations in his temple and, yes, the same can be said for trading. Plan your entries wait for the planets to line up if you have to. (Actually, I think some trader's do use astrology to trade...)
I like 5m, 15m, 30m, daily (and monthly) charts.
For indicators I like sharky's DoubleMA set to 20 ZLag / 20 ZLag.
But mainly I just use:
Lines: horizontal and slanty type Price action
And a 20EMA.
When I'm feeling frisky I add volume, and when I'm feeling super happy go lucky I add MACD histogram and spot divergences. But that doesn't happen much anymore. I just like the lines, call me old fashioned.
As far as pivot points, I never found a good use for them. I used to use them, but they became less and less relevant as time went on. Maybe check out pivot points as they are calculated hourly. It will show some pretty neat stuff.
I was used to trade Russel 2000 (TF) before when I saw this blog and Sam's (Sharkey) chart format I tried that setup on Euro, it work for me but you can see lots of setups but u ve to find which one is good according to u r money management,
I've traded the EuroFX for a long time. It's historically a great market. The ES is choppy by nature but now has many more sustained trend moves while the EuroFX is a trending market by nature that has become more choppy lately. I'm doing the opposite -- trading ES more and EuroFX a little less.
Used to be trading 8:20 AM to 12:00 Noon (Eastern) was fine, but for the past few months, I've been getting up in the middle of the night to trade the London session too which still trends better and doesn't have as much chop . . . although 50-tick runners are still available 1-2 times a day at least. You'll get slippage in the Overnight Session on most stop orders, so be ready for it, and many partial fills on multiple lots with your limit orders.
Also, EuroFX is a market that just doesn't stay contained for too long.
I use 5-Minute Bars mostly and scalp, but you can see super reversals using 60-Minute Bars. However, the larger your time frame, the larger your Profit Target and Stops should be.
I usually don't use indicators much. I trade price action and pivots.
Hope this helps . . .
Good Luck! Chartsky
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I also use pivots. It seems around the beginning of Summer the pivots didn't seem to work quiet as well as they had been. I'm assuming lack of volume.
I still haven't trade the euro live as it seems to require larger stops than I'm comfortable with (3 points stop is my max)
I too do not like indicators, other than pivots.
Thanks for the input