Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following 2 users say Thank You to Big Mike for this post:
I voted for currencies because of the micros and the currencies larger trend following characteristics. Although I really like YM out of the stock indexes. Because of the higher granularity of points vs the ES, not to mention smaller tick size. It still has all the same tools as the spoos, tick, trin, adv/dec etc. But mostly I am trading small instruments with small size so i am biased there. But I think both are great instruments it really depends on your system and what your trying to exploit.
The following 4 users say Thank You to treydog999 for this post:
I voted for Crude Oil because I like its volatility and the huge swings it often creates as well as the sufficient liquidity provided during the US afternoon session (which applies to my timezone of trading).
I also like the Nasdaq and the E-Mini Midcap (EMD) as well, because these markets tend to trend pretty decent and quite clear (especially the EMD, much better than YM or TF).
The following 4 users say Thank You to Daytrader999 for this post:
For a number of reasons. Certainly for the opportunities so a daily basis to trade, as it does have significant movement in price.
Also, because of the short term nature of the contract, it respects levels of support an resistance very well.
The world runs on hydrocarbons, and that does not appear to be ending anytime soon. So there is a continuing demand for the commodity, and therefore, has a mitigating effect on overly large swings on pricing.
It is both a commodity and a currency.
The following 4 users say Thank You to VinceVirgil for this post:
My favorite is currencies, initially because of my timezone. But over time i've become very attracted to the way currencies move. In my experience i've found them to be like night and day compared to the way the major US indeces move.
Im also really starting to like Soy Beans. It definitely needs to be respected though. Fast moves. Big volatility. I also like it because it's main trading hours suit my time zone (ie: the beginning of the US session).
I find the combination of the Pound and Soy Beans works well for me. The Pound tends to move reasonably slowly with plenty of time to plan and wait for things to play out. Soy Beans moves slowly at certain times, but all of a sudden it's like a bat out of hell. When Soy Beans is moving, it requires complete focus. Whereas the Pound can just carry along happily without having to look at it constantly.
I prefer to trade smaller dollar per tick instruments, which is why the Pound is my primary instrument. Unfortunately Soy Beans is bigger than what I like, but I manage that by trading less contracts.
You donít trade the markets; you only trade your beliefs about the markets.
- Van K Tharp
The following 2 users say Thank You to DarkPoolTrading for this post:
Platform: NinjaTrader, IG SpreadBetting with ProRealTimeCharts
Favorite Futures: DAX CL NQ EUR/USD
Posts: 82 since Nov 2012
Thanks: 352 given,
I voted CL because of its very consistent behavior in terms of my charting preferences:
fib targets & retracements, S&R, measured moves, wave counts (usually 5 but some 7 recently), likes to hold support, doesn't often run the stops and reverse, likes to go for the $1.00 or $2.00 move and then retrace. Trend running characteristics are strong and reliable, allowing multiple entries with valid trailing stops below last swing low and finally, when it goes, it keeps going and going.
Best thing since NQ
The following 2 users say Thank You to jmsUK for this post: