ES or NQ

Discussion in 'Index Futures' started by janko, Jul 9, 2002.

  1. janko

    janko

    hey guys i was wondeirng if you could give me a quick opinion on these two. I messed aroung with the NQ and man was it fast, the ES im just watching for now. I was wondering if for someone who is just getting into futures is it more advisable to trade the ES as it apears to be a bit slower than the NQ. Yesterday i traded the nq and in one instance I left 7 points out there before i could even hit the sell button. That was a bit fast for me, and at this point im trying to keep the damage really low. So I kinda wanted to get an idea of your take on the two. Is the ES a bit slower and i hate to say - but easier to trade? thnx
     
  2. H2O

    H2O

    Janko,

    How about the YM (Mini sized Dow Jones Industrial Average $5)
    It trades on ACE

    There's also a $2 version of it

    Try to keep your losses small. I once got realy screwed by the NQ (I also started trading them and now, after 4 years, I still try to be as carefull as possible and stick with stocks)

    Good luck
     
  3. janko

    janko

    yeah i was wondering about the dow contract but as i read the boards a lot of people were suggesting that the spreads are pretty large on them someitmes. But i guess i could take a look at them. at this point those type of swings are pretty large for my act and thus im trying to get my feet wet but at the same time not blow all my funds on it. Ive been trading for some time but the futures are an animal of their own, so im trying to go easy on them. thnx for the suggestion.
     
  4. m_c_a98

    m_c_a98

    NQ will usually over/under react a little bit to market moves. But direction wise, ES and NQ are similar because they incorporate similar stocks in their indexes.

    So, either one you should get similar results because they are highly correlated throughout the day.

    Keep in mind to watch spx and ndx cash, es, nq, djia, NYSE Tick
    and intraday support and resistance on all of these.

    Also, check up on NYSE Trin, VIX, US Treasury Bond futures(symbol ZB) throughout the day.

    And, be aware of longer term direction(longer than 30min) and s/r of SOX, BTK, NDX, SPX.
     
  5. it's interesting to see that right now the ES seems to be the one with the higher volatility - just watch todays and yesterdays selloff. the es has (in $$ - sometimes even in pts.) a much higher range. funny how things change over time.
     
  6. janko

    janko

    well i came to a conclusion that it will be neither. I traded the ES today and it was a bit better than the NQ but at this time its still too much of leverage for me right now. Im glad that i dont need my act balance to tell me that hey something is not right and blow the acct up. But i did try the YJ (dow $2) and that was interesting:D man that spread is just all over the place on that one. I watched the $5 one as well and i think im more comfortable with the $2 one for now. I guess it would be more of a swing type of a vehicle rather than scalping in 5-10 minute time frames, but it looks like even that is doable. One question i have is, where do you guys get your charts from on these? I would imagine e-signal and the likes. could one be also able to trade them watching for example the ES and the DIA as well? since the spread is all over the place, i wouldnt be necessary in scalping mode. I would think that watching the es and dia would be sufficient and of course the DJIA index and analyze the s/r levels etc...
    any thoughts, suggestions? thnx