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Bob111
Registered: May 2002
Posts: 6401 |
04-22-12 11:27 PM
you are trading one of the most efficient,most liquid market in the world. i've been saying this for many many years..more efficiency-less profit or chance of any success. specially on retail level. specially on retail level with high leverage products.you have to realize that you are trying to compete with whole entire world of all sort of math\hft,programming geniuses,Phd's in any possible fields + your own demons. i would start with a stocks. slow moving stocks.
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HurricaneUS
Registered: Aug 2008
Posts: 749 |
04-22-12 11:28 PM
Quote from the1:
..... That being said though, I tend to avoid that last 1/2 hour mostly because I don't want to give profits back with no time to recoup them.
the ES is open 24/7 except saturdays and holidays 
hell it's even open now as I type on a Sunday 6:35 pm NY time
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southbeach4me
Registered: Jun 2009
Posts: 883 |
04-22-12 11:43 PM
When trading FX were you trading the spot market or futures ?
If you were doing well trading FX, why on earth would you continue to trade the ES and consistently lose money? Are you a masochist ?
STICK WITH WHAT YOU ARE MOST PROFICIENT AT.
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RedTankEra
Registered: Feb 2012
Posts: 252 |
04-23-12 12:03 AM
That opening volatility you speak of, that is precisely what defines the one strong move that ES tends to develop in the morning session, that is the easiest trade of the day in ES everything else is usually not worth it. Just keep an open mind that it could come in the form of a complete V like move aka an opening fake.
The afternoon is for giving whatever profit you made in the morning back or managing your morning entry. The meat of ES in in the first 90 minutes.
You cannot assume that trend days are rare and always trade it like chop because then when a strong move develops you won't be able to exploit it, in fact, it will exploit you. You need to do your homework and determine if the gap up/down can be faded, or if serious technical damaged occured, this can only be answered after a lot of hard work and years of study.
You must become one with ES before it opens and notice how and where its opening so you can determine what are the potential outcomes based on the opening price action.
It is not for newbies and it's definitely not for those lacking capital.
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tenthousandmen
Registered: Dec 2011
Posts: 728 |
04-23-12 12:06 AM
Quote from Bob111:
you are trading one of the most efficient,most liquid market in the world. i've been saying this for many many years..more efficiency-less profit or chance of any success. specially on retail level. specially on retail level with high leverage products.you have to realize that you are trying to compete with whole entire world of all sort of math\hft,programming geniuses,Phd's in any possible fields + your own demons. i would start with a stocks. slow moving stocks.
I heard there is little or no hft activity in futures
tick size is terrible
especially with es
however I think you are spot on...thanks for posting!
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dafeeder
Registered: Aug 2006
Posts: 184 |
04-23-12 12:33 AM
Quote from Bob111:
you are trading one of the most efficient,most liquid market in the world. i've been saying this for many many years..more efficiency-less profit or chance of any success. specially on retail level. specially on retail level with high leverage products.you have to realize that you are trying to compete with whole entire world of all sort of math\hft,programming geniuses,Phd's in any possible fields + your own demons. i would start with a stocks. slow moving stocks.
One good thing about the big banks, when they lose their ass, they can just get bailed out by the US Govt.
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