Excellent, thanks. ES, I don't know why it scares me. I am seeing that you are a high precision trader. I'm not quite there yet, more of a surfer still.
I can barely keep focussed on 6E so I don't think I could trade more than one at a time. But if Euro is in a tight range for a few days or if I'm just not reading the fundamental picture it would be nice to have something else to turn my attention towards, something I can read and know well like I am starting to with 6E.
I may have to move to Europe, what a luxury you have with the hours you work! Monaco, now that would be nice!
I tried doing a bit of CL before ES opens but the problem is I spend a lot of time in preparation. I study the cycles, I define S/R levels, I study the Market Profile charts and come up with important levels, etc. If I want to trade CL then I have to do all that for CL and that's why I limit myself to two highly correlated markets so that I can do the analysis for ES only.
I don't know about high precision, I'm always early. But I'm working on it.
PS: The hours here are pretty good for trading. But if I were in the US I'd just trading the first few hours and be done for the day.
Cool, thanks, I'm so busy I haven't had a chance to really examine the markets. I'm not live right now, still working on the finer details of a strategy.
As for being over here, if I stay in NA I will be heading to the West Coast, that's where the good life is! East Coast morning is over as the Gondola's fire up on the mountain! My body hates nights though, really doesn't like it...
What a crazy day! This is the hardest time I've ever had trading ES. Mentally demanding. Market doesn't make much sense. Open drive up, solid drive down, solid drive up. Enough to make anyone want to trade on sim!
I ended up with 1.25 pts on ES on 1 trade. took a lot of heat, scaled in, got out with a small profit. I accidently canceled the strategy so it doesn't show up in my performance.
In my premarket video I said I was looking for a long. I expected 1112.50 to hold especially after it held at the open. But when it dropped down below 1100 it was looking very bullish. I ended up going long at 1105.25 and took one off at 12.25 for 7 pts. I'm holding the 2nd overnight with a stop at 1097. It's rallying as I write this so that is a good sign.
That was all real and I got 10 ticks on FESX (100 euros) on sim this morning. I'm feeling comfortable enough with FESX that I think I'll go to real money soon. As for ES, my volume analysis isn't working as well in the current conditions so I'm really tempted just to trade on sim. It's frustrating watching the market bounce up and down like a ping pong match without giving the usual clues.
I used to watch and sim trade CL and ES at the same time. Then I had to take a little break from trading. Now that I'm easing back in I only have ES on my charts. I can tell the difference but I'm not sure which I prefer, two instruments or one. Watching ES without CL allows me to focus more. However, when I watched CL and ES they would often set up for a move at the same time and I would have more confidence in a potential trade. Watching two different instruments allowed me to not only gain familiarity with the individual contracts but to also get a feel for their intermarket relationship or lack thereof. That can have its advantages but possibly at the expense of some distraction.
I hear that Monaco is incredible. No income tax?
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I don't have NT7 so I don't know. If someone can compile it for NT7 and verify it works and then export it we can make it available to everyone.
For X-Trader. It's known to be the best DOM. But you pay $500 in exchange fees per exchange with $1700+ for all of them. I think it's good for those scalping or really studying the DOM. For me the ninja DOM is fine and it's free.
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