I got a PM asking if trade ES. The answer is no. ES is fine for for multi-day/week/month swings. For intraday, not for me. 1) 60% of the ES tick is designed for arbitrage. (ES =.25 tick, SP =.10 tick) This also explains the unwritten execution rule sometimes referred to as "trade through". 2) I prefer to be a small-ish fish in a big pond. Not the smallest fish in a big pond.
I feel ES is an adequate intraday instrument, the problem is the tick size and for that I prefer SPY; better entries better stops, enough liquidity. Taxation is not a concern as I'm M2M .
Nothing like an April 15 surprise! Strangely, and unfortunately sooo many do not understand those rules.
DX... 8/5/13 The only indicators you will ever see on any of my charts. While the money in my pocket still has some perceived value, its time for Tapas and Sangria.
An excited day for me. First day of live autotrading! 1 setup on NQ & YM. 1 car per trade. Ran about 1/2 the day. My photoshopped SierraChart trade activity logs.
YM @15095 is in the middle of the unfilled gap from 7/8/13 NQ LOD @3066.5 ALMOST fills the unfilled gap from 7/30/13. My definition of gap for this mention is the difference between previous day RTH close and next day RTH open. Just sayin. Trade On!