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I just joined this site and looking forward to getting advice from the people here.
I have been daytrading stocks for a a few years and of course i'm familiar on how to prepare for my trading day (i.e. Gaps, earnings, upgrades etc.). Also constantly listening to Benzinga squak box for stock news.
I'm interested in starting to daytrade futures as well,(ES, NQ etc.). How would i prepare for trading futures? any specific newsfeeds to watch? any headlines? specific sites?
Any preference on specific futures that's easier to (transition into) daytrade?
I tend to push this out on a forum, the Topstep indices room and a Skype group I'm a member of.
I'd prefer this thread to be a place for anyone to post pre-market prep for any market.
Not …
My take is that there is no easier product to trade in the futures market. You immediately are competing with professional traders all over the world.
It's more to do with what futures market suits your personality, I think. By that I mean there are slow / thicker markets and fast / thinner markets. What you choose depends on your preferences.
May I recommend to use the various search facilities available on FIO. If you have any questions about how to use them just let me know.
Perhaps take a look at the 30 year bonds. They're cheap margin - $500 per contract with NT. and highly leveraged.
1 tick is $31.50 a full point is $1000 meaning 160 -> 161
I enjoy trading them with a 4-6 tick stop so around $120 - $180 risk for at least 1:1 gain depending on probability. I recommend them because they move slower, and I've personally experienced much less noise on their daily movements compared to the ES. They can be frustrating because of this - it requires more patience. I think the other poster is wise in recommending discovering what suits your personality and style of trading.
