my question is what instruments you guys use for trading short term? I define short term as trading on a timeframe which is 5m or an equivalent of 5 minutes (when trading tick, volume or range bar charts) or a bit lower.
So far i tested my strategy on 6A, 6B, 6C, 6E and 6J... however I am getting poor results with 6A, 6C and sometimes 6J... So i compared the charts and after a while i thought maybe there isnt something wrong with my strategy but the market just doesnt move "nicely" enough to get profits out of it...
regarding the strategy (even if it is not important for my concern), i am entering an existing trend in retracements... the main chart i am using is a 4 tick chart - but looking to minute or other longer timeframe charts for the big picture...
so my question is what future contracts are very well suited for short term trading? (liquid and volatile markets)
Dude, I reckon 5m on fx is pushing it... IIWY I'd stick to the liquid (and deep) futures like FESX, FGBL, ES and ZN... maybe include things like the DAX and CL, and use tape reading / market profile or similar.
i am done researching and have a final watchlist...
6B $ 6,25
us stock indices:
NQ $ 5,-
YM $ 5,-
european stock indices
Z £ 5,-
CAC40 € 5,-
these are the only contracts i can afford to trade... (the value next to the contract is the tick value)
i think these contracts are liquid and volatile enough for short term trading...
does anyone know other cheap, liquid and volatile contracts for short term trading?
PS: TF is also very liquid and volatile and has nice moves, but too expensive for me... at least now...
PPS: i am situated in europe so i trade the whole european session... however there are better moves in the afternoon (european time - GMT)... meaning when the US starts trading...
I don't know what your tick/pips goal per day. I suggest focus on 6B for now. Build your account with it. It's predictable enough using proper tools, a couple of indicators. I trade it on m1 during US session. The Frankfurt/London session will suit you well with on 6B. Later, you can add 6E.