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NoDoji
Registered: May 2008
Posts: 2223 |
11-10-09 09:07 PM
Quote from tomdavis:
I trade fairly short timeframes. 500-1000 ticks on the ES and 200-400 ticks on the CL, depending upon volitility and trend. I also watch a chart at 3-5 times higher time-frame for context. I trail 2.5 ATR stops in both markets. I could probably use a closer stop on the CL because there is very little backwash compared to ES.
Thanks, Tom. "Backwash", I like that, ha! I think that's why I've found CL so easy to trade.
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bmills313
Registered: Aug 2008
Posts: 40 |
11-10-09 11:23 PM
I have a love/hate relationship with the ES. When it's trending, it can be traded rather well but when you get caught up in the games that are played at S/R levels it can be downright awful. I tend to find the ES just a bit much for me unless I'm trading a slower chart and it's a nicely trending day.
As for the other indicies, I traded YM for a short time but wasn't a fan. It was pretty slow and didn't seem to have the quality of moves like other contracts. NQ typically doesn't even get a second look; the ES and YM are enough as-is.
My preference, though, are the grains (ZC, ZS, ZW). I love the quality of moves and predictability of S/R and there is ample volume in at least one of them every day to make it far more worthwhile than being part of the games on the ES. With the amount of news constantly released and weather thrown in to help move up/down, it's a no-brainer.
I think what I also like most about it is that they're physical products and the laws of supply/demand are a lot easier to understand/apply. Rain wipes out the crops, you now have lower supply and the same demand, therefore your prices are going up. Higher yield corn crop this year and there's already an overabundance of corn in elevators, price goes down. It's just a lot simpler to trade, for me at least. YMMV...
bmills
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oraclewizard77
Moderator
Registered: Jan 2006
Posts: 771 |
11-11-09 12:41 AM
This is interesting. So do you subscribe to some news feed for the grains, if so, what is it? And do you use this to take or confirm a trade, or do use just TA? I have a special indicator that is supposed to work for the grains and es, but not for cl, so maybe I will take a look at them.
Quote from bmills313:
I have a love/hate relationship with the ES. When it's trending, it can be traded rather well but when you get caught up in the games that are played at S/R levels it can be downright awful. I tend to find the ES just a bit much for me unless I'm trading a slower chart and it's a nicely trending day.
As for the other indicies, I traded YM for a short time but wasn't a fan. It was pretty slow and didn't seem to have the quality of moves like other contracts. NQ typically doesn't even get a second look; the ES and YM are enough as-is.
My preference, though, are the grains (ZC, ZS, ZW). I love the quality of moves and predictability of S/R and there is ample volume in at least one of them every day to make it far more worthwhile than being part of the games on the ES. With the amount of news constantly released and weather thrown in to help move up/down, it's a no-brainer.
I think what I also like most about it is that they're physical products and the laws of supply/demand are a lot easier to understand/apply. Rain wipes out the crops, you now have lower supply and the same demand, therefore your prices are going up. Higher yield corn crop this year and there's already an overabundance of corn in elevators, price goes down. It's just a lot simpler to trade, for me at least. YMMV...
bmills
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stevenpaul
Registered: May 2008
Posts: 59 |
11-11-09 07:54 PM
Right now, you can get in on a free trial going on for a little less than 2 weeks still at tradersaudio.com for the grains. The username is grains and the password is squawk. They have Vic Lespinasse doing the broadcast. So far, I haven't found it quite as useful as the S&P squawk, but it's something. No, I'm not affiliated with them at all. Say, what's that grain indicator? Please do share. I'd love to hear about it.
Quote from oraclewizard77:
This is interesting. So do you subscribe to some news feed for the grains, if so, what is it? And do you use this to take or confirm a trade, or do use just TA? I have a special indicator that is supposed to work for the grains and es, but not for cl, so maybe I will take a look at them.
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