So being short overnight is fine, but not long? lol.

In no way was I trying to be snarky and as I reread my comment, I am not sure how you would feel that way. I was thinking in terms of stock index futures, and in your scenarios I'd much rather be short. It was meant to be a light hearted comment.

kevinkdog 

I always recommend A Trader's First Book on Commodities by Carley Garner. She is a very astute broker. I believe she is a member here, but I can't find here username...

kevinkdog;

I had to circle back and thank you again for the book recommendation I just finished it, it was enlightening and extremely helpful...I found the futures contract breakdowns very informative, very helpful, those chapters alone were well worth the price of admission. For the price I paid for the book it almost felt like stealing, it was an excellent read. I came to the conclusion that although I may have asked a good question at this stage of the process it wasn't the right question. I'm light years away from needing to ask about time frames after reading that book, there is far more foundational work to be done. I also picked up her other book Higher Probability Commodity Trading: A Comprehensive Guide to Commodity Market Analysis, Strategy Development, and Risk Management Techniques Aimed at Favorably Shifting the Odds of Success and will read that.


Thanks again....

LakeEffectTrading 

sbrad39 It sounds like we tackling the same problem. I would love to hear the progress you make on this decision and what you are currently doing. I have only practiced day trading the ES and NQ but I think I would rather swing trade over several days or even hold for longer. I am just wondering what timeframes I should base my trades on. It would see to me that any chart timeframe other than the daily would require you to be watching the market all day long, correct? My question to experienced futures traders: If I am holding a futures position overnight with a stop-loss set, is my fear of a black swan event that leads to a major loss beyond my stop-loss rational? Obviously many hold overnight but for some reason this fear is a mental block for me. Are some of you "no way in heck would I ever hold a futures position overnight" people?

LakeEffectTrading:

I've set aside the time frames question for now...I came to that decision after reading kevinkdog's book recommendation ( A Trader's First Book on Commodities by Carley Garner.) it's too soon in my development for it.....I'm going to read the second book by Carley Grammar ( Higher Probability Commodity Trading: A Comprehensive Guide to Commodity Market Analysis, Strategy Development, and Risk Management Techniques Aimed at Favorably Shifting the Odds of Success ) and then sit down and develop a strategy that suits me and determine what time frame is best suited for it...I also won;;t be tackling NQ and ES just yet.... I'm going to see if Gamer's analysis in regards to the movement of the Treasuries and EuroDollar are accurate and hold true in today's market because she wrote this book sometime ago and will probably start with that based on what she recommends for beginners.....


Good Luck

sbrad39 

LakeEffectTrading: I've set aside the time frames question for now...I came to that decision after reading kevinkdog's book recommendation ( A Trader's First Book on Commodities by Carley Garner.) it's too soon in my development for it.....I'm going to read the second book by Carley Grammar ( Higher Probability Commodity Trading: A Comprehensive Guide to Commodity Market Analysis, Strategy Development, and Risk Management Techniques Aimed at Favorably Shifting the Odds of Success ) and then sit down and develop a strategy that suits me and determine what time frame is best suited for it...I also won;;t be tackling NQ and ES just yet.... I'm going to see if Gamer's analysis in regards to the movement of the Treasuries and EuroDollar are accurate and hold true in today's market because she wrote this book sometime ago and will probably start with that based on what she recommends for beginners..... Good Luck

The Eurodollar is no longer, FYI. It has been replaced. https://www.thestreet.com/investing/futures/shift-from-eurodollar-to-sofr-accelerating