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Picking a futures contract to trade


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  #11 (permalink)
 HiLatencyTRDR HLT 
Midway florida
 
Posts: 462 since Dec 2018

Trade a mkt that interests you and perhaps you can get some info on be aka gold or silver maybe you have a coin dealer in town etc. Or shiny metal may interest you more than say lumber or cooking oil.


It's very important that you dig in and love the Product.

Do you want to trade for ticks points etc. This mattrts too..

Or pull out of a hat n challenge your self.

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  #12 (permalink)
 
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 DowDaddy 
Las Vegas
 
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HiLatencyTRDR HLT View Post
Trade a mkt that interests you and perhaps you can get some info on be aka gold or silver maybe you have a coin dealer in town etc. Or shiny metal may interest you more than say lumber or cooking oil.





It's very important that you dig in and love the Product.



Do you want to trade for ticks points etc. This mattrts too..



Or pull out of a hat n challenge your self.



It’s so frustrating that I might pull a hat challenge Lol thank you


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  #13 (permalink)
 
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 DowDaddy 
Las Vegas
 
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Picked Russell 2000 Futures going to commit to trading them and not jumping around. Thanks so much guys did a weekend of reflection and realized I am my biggest trading enemy.


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  #14 (permalink)
OccamsRazorTrader
Fort Myers Florida/USA
 
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Nasdaq1517 View Post
Hello,

I have been trading full-time for 6 years now and one of the biggest things I have noticed affecting my profitability is jumping around different markets/futures contract… any insight on preferred markets to trade??? I am looking to trade just one instrument and master it… I mainly trade the indices right now rty NQ es Ym … thank you


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I developed a price based algorithm by studying the ES chart. I made a really nice profit trading it for 6 months. I used the same algo for ES, NQ and YM for the next 3 months and gave back 75% of what I made. I soon started reading about of diversification. I expanded to trade 1 contact (the most liquid) in all 8 commodity sectors. Sometimes it's frustrating as the core contracts make money but the added on contracts lose .... but that is the nature of the beast, if your system is profitable in the long run diversification helps. I now trade 19 contracts spread over the 8 sectors, if they all do well I have a huge day- if they all do poorly I have a terrible day, if it's normal and usual price action (whatever that is) I have a good profitable day.

Track as many contracts (markets) and buy/sell signals as you can on a spreadsheet and see if you system has teeth ... good luck.

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  #15 (permalink)
 HiLatencyTRDR HLT 
Midway florida
 
Posts: 462 since Dec 2018

The Russel is a great mkt to trade for a few reasons which I will state but first understand that imo it is the red headed step child to the dow es and nq. Make sure you do not get too caught up in the idea that oh the major indexes are up the Russel should go up because that's the trap in with the Russel.

It will push farther than you ever imagined at times then upon exit reverse in your face so stay small and be quick to exit gains and losses if needed.

I like it because the tick value is so so small vs the es you can force limit fills easily.
It also typically has more volatility than the es but moves less so it is a little more forgiving.

Good.luck and have fun

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  #16 (permalink)
Mrhamster
San Francisco , CA
 
Posts: 23 since Aug 2022
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Isn't ES pretty much the best ? It moooooves a lot ........... but I'm used to forex which is like a drunk turtle that has fallen over and is stuck in a hole .

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  #17 (permalink)
 GFIs1 
investigating the steal
 
Experience: None
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Posts: 2,196 since Feb 2012

Know your instrument by heart!

This is my credo: Just ONE instrument
It is also recommended to know that the behavior of the instrument changes every weekday - Note That
and find out the patterns that repeat, repeat, repeat...

Good luck
GFIs1

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  #18 (permalink)
 
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 Silver Dragon 
Cincinnati Ohio
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As others have said, pick just one instrument. However, you can trade more than one market. Example: day trade futures and trade long term options. This gives the satisfaction of trading more than one instrument and maintains the focus needed to succeed at both markets.

Robert

nosce te ipsum

You make your own opportunities in life.
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  #19 (permalink)
 
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 DowDaddy 
Las Vegas
 
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Thanks I have settled on the Russell 2000 futures guy


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  #20 (permalink)
MaxChv03
Lille+France
 
Posts: 5 since Jan 2021
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I think the MES is a good contract to start with !

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Last Updated on September 11, 2022


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