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diversify futures traded
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diversify futures traded

  #1 (permalink)
Trading Apprentice
Hoboken, New Jersey USA
 
Futures Experience: Intermediate
Platform: XTrader
Favorite Futures: Emini ES
 
Posts: 15 since May 2016
Thanks: 17 given, 6 received

diversify futures traded

Hello,

I am currently trading ES from NY open to close. I concentrate day trading the ES market exclusively, but obviously there are times when the mkt is just too tight to make any money for me. I have been considering adding another market to trade and diversify my profits. I am looking for suggestions for another futures contract to learn to trade so I can diversify my income stream. Any suggestions would be greatly appreciated because I know the financials and solely prefer ES. The obvious answers would be oil or gold, but are there any other suggestions such as currency futures and possibly bond futures. Would love to hear some comments.

Thanks.

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  #2 (permalink)
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  #3 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
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Posts: 1,998 since Sep 2010
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bluedolphin View Post
Hello,

I am currently trading ES from NY open to close. I concentrate day trading the ES market exclusively, but obviously there are times when the mkt is just too tight to make any money for me. I have been considering adding another market to trade and diversify my profits. I am looking for suggestions for another futures contract to learn to trade so I can diversify my income stream. Any suggestions would be greatly appreciated because I know the financials and solely prefer ES. The obvious answers would be oil or gold, but are there any other suggestions such as currency futures and possibly bond futures. Would love to hear some comments.

Thanks.

Try ZB or TY. I am not sure why GC and CL are "obvious" (?)

Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #4 (permalink)
Trading Apprentice
Hoboken, New Jersey USA
 
Futures Experience: Intermediate
Platform: XTrader
Favorite Futures: Emini ES
 
Posts: 15 since May 2016
Thanks: 17 given, 6 received

diversified futures trading

GC and CL are obvious to me because they are the most discussed in the media. A better word to use would've been the most popular suggestions possibly. I have traded in SIM GC and CL and didn't fall in love with them. That's why I am looking for suggestion of other contracts to be traded that might have an inverse correlation to ES as far as activity. I would like to get comfortable with another futures contract to trade for when ES tightens up for a while and to expand my skill set. I will look into your suggestions. I have limited exposure to the other contracts to day trade.

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  #5 (permalink)
Market Wizard
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 1,998 since Sep 2010
Thanks: 1,890 given, 2,690 received
Forum Reputation: Legendary


bluedolphin View Post
GC and CL are obvious to me because they are the most discussed in the media. A better word to use would've been the most popular suggestions possibly. I have traded in SIM GC and CL and didn't fall in love with them. That's why I am looking for suggestion of other contracts to be traded that might have an inverse correlation to ES as far as activity. I would like to get comfortable with another futures contract to trade for when ES tightens up for a while and to expand my skill set. I will look into your suggestions. I have limited exposure to the other contracts to day trade.

There is a substantial difference in liquidity between GC, CL, and ES.
As such, in my opinion, your method would need to be adjusted in terms of ticks, and the same may be applied to other physical commodities. Namely, seek more ticks as a method because of the "jitter" level. Good luck and have a good weekend.

Matt Z
Optimus Futures
There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.
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  #6 (permalink)
Trading Apprentice
Hoboken, New Jersey USA
 
Futures Experience: Intermediate
Platform: XTrader
Favorite Futures: Emini ES
 
Posts: 15 since May 2016
Thanks: 17 given, 6 received

That was well said and it makes a lot of sense. Thanks for the information. Tidbits like that is exactly what I needed. I hope I can use you as a source in the future. Have a great weekend!

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  #7 (permalink)
Elite Member
New York, NY
 
Futures Experience: Intermediate
Platform: Sierra Chart, thinkorswim
Broker/Data: Amp-Rithmic/TT, IB
Favorite Futures: CL, GC, NQ
 
Posts: 569 since Nov 2010
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What did you dislike about CL and GC? Do you prefer slower instruments, that back and fill more?

6E is more similar to the ES in movement/characteristics than the commodities are. ZN is as well, and is smaller and less volatile than ZB.

It depends what you are looking for in characteristics from the alternative instruments, and how they would fit your strategy, style, time frame, risk tolerance. Chart study, actual sim trading evaluation are probably the best way to determine fit, as will be different for every trader.

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  #8 (permalink)
Trading Apprentice
Utrecht, Netherlands
 
Futures Experience: Intermediate
Platform: TOS, eSignal
Favorite Futures: Crude Futures
 
Posts: 20 since Jun 2016
Thanks: 1 given, 7 received

6E, Eurostoxx 50, Bund would be suitable for an ES trader in my opinion.

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  #9 (permalink)
Trading Apprentice
Hoboken, New Jersey USA
 
Futures Experience: Intermediate
Platform: XTrader
Favorite Futures: Emini ES
 
Posts: 15 since May 2016
Thanks: 17 given, 6 received

What did you dislike about CL and GC? Do you prefer slower instruments, that back and fill more?

6E is more similar to the ES in movement/characteristics than the commodities are. ZN is as well, and is smaller and less volatile than ZB.

It depends what you are looking for in characteristics from the alternative instruments, and how they would fit your strategy, style, time frame, risk tolerance. Chart study, actual sim trading evaluation are probably the best way to determine fit, as will be different for every trader.


I believe that I got use to the slower movement of ES. Just like you stated an instrument that back and fills and possibly have more time to make decisions. Over the years, I thought I preferred fast moving instruments with major volatility, but I finally found success after using longer time frames to make my trading decisions and it helped me trade less and improve performance. I use to over trade and by proper planning and after trading less I improved my results. However, I feel there are days that there are just no opportunities in a tight range ES market. As a result, I want to diversify the products I trade. I thought CL and GC would make logical choices, but as you said it is a different animal. I would have to learn to adjust. I just wanted to hear from other traders what they felt would be a logical instrument to trade when ES is slow. I want to expand my skill set.

I understand GC and CL would need practice and a different approach. I appreciate the suggestions. Please keep them coming. Anyone feel trading currency futures is a viable option?

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  #10 (permalink)
Trading Apprentice
Hoboken, New Jersey USA
 
Futures Experience: Intermediate
Platform: XTrader
Favorite Futures: Emini ES
 
Posts: 15 since May 2016
Thanks: 17 given, 6 received


I got my answer on the currency futures thanks so much. Excuse my ignorance, I realize 6E is a currency future. That contract intrigues me. I'm sure I will have to learn what announcements and fundamentals will move the instrument as well.

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