To trade ES, I also plot four other markets on my chart, plus two breadth symbols.
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The following user says Thank You to Big Mike for this post:
I " look at " about 48 different Futures per night ( always after the close ) , and look ath these on the Daily, weekly and monthly charts
All of this is in a fantastic chart format on FINVIZ.com ( they have some of the best charts I have seen anywhere online, and they're free )
Here's the Link to the page with all of the Futures listed ..... Futures Charts Daily
side note : I also look at a 2, 3 and 4 day chart as well
This is all done to look for position / swing trades and entries, NOT for intra-day day trading
For day trading ..... I use only tock charts , and it varies based on the Future(s) I am trading for that day
CL for example is a 3996 tick chart
ES is a 9324 tick chart
ZS is a 1332 tick chart
( ( all are multiples of 1332 )
I will base my decision on what future(s) to trade for the next day, based on my " read " and analysis form the longer term charts ( daily, 2, 3, 4 day, weekly and monthly charts )
Of course with the weekly and monthly charts ..... you only have to worry about looking at the weekly chart every Friday ( after the close )
For the monthly , only have to worry about looking at it on the close of the last day for each month
I wanted to add something to what I said in my last post ...
" I will base my decision on what future(s) to trade for the next day, based on my " read " and analysis form the longer term charts ( daily, 2, 3, 4 day, weekly and monthly charts ) "
So for example,
if I get say a Short entry and read off of the Daily chart on the YM ,
then the next day, that will be one of the Futures that I will day trade and will only trade it off of the selected Tick chart for that symbol ( I have YM at a 3996 tick chart )
The tick charts vary from Future to Future, because of the volatility and trade Volume varies so much from one to the other
Just found what Tick chart works best to day trade off of , from many trials and errors lol