If you were intending to Intraday Swing Trade off a five minute chart -- say a four point target in ES and about the equivalent in the others -- which would you choose ... ES, 6E, CL? And why?
All three are excellent for that particular target. I think CL and 6E are technically very clean resulting in less shakeouts. They seem to have a certain inertia that provides reliable follow-through without a lot of "backwash". 6E seems to be the best of all of them in this regard. I think ES is the best instrument for those wanting to trade large size without affecting the market. It's pure liquidity. My minimum profit target per trade with 1 lot CL is the equivalent of 4 ES points. The volatility is divine.
Since I adamantly do not believe in a random walk, I need to believe in something! Yes ... I think they do have fractal structure.
Since size is not an issue -- I wish it were -- I take it that the tendency ES has to retrace makes it the least attractive to you. Why do you trade CL over 6E ... is it just volatility? And is the volatility more important than "clean" to you?
I never trade off time for E6 and ES...always price range... Funny enough in E6 sunday night would have got a heart attack even with the 1 minute chart let alone 5 minute chart...price range allows you to trade /ride spikes within reason... If I wanted to trade with time periods I would stick to trading clocks.... NiN