thank you BTW if i want to trade the NQ with very short term trading. which chart did you find best (Vol,tick,range,time)?
amitman could I please suggest back testing go look at the one day, one minute, charts in the same way you would look at the real time charts except the end results are already available right now try your system on the past first if it doesn't work EVERY TIME back testing it wont work paper trading or with REAL MONEY. if all else fails come back here and read the instructions until you find a system. top indicators: price (real time), volume (realtime), stochastics (delayed by one minute). hot tip: the most dangerous part of the day is a flat market. i've been told there is a 95% failure rate among daytraders perhaps you might want to do some homework to make your odds better. there is a 95% chance I just wasted the last 10 minutes.
Unfortunately this is true. YM has become as back-fill happy as the ES since it changed exchange at the beginning of the year. Up to the change the YM was reasonably smooth and much less erratic. I don't like trading it as much now.
If you have a day time job like most of us, you may want to consider the TWI and NK. Their trading hour is from 7PM to 1AM EST. TWI: min 0.1 = $10, 1pt = $100. NK: min 5points = 2500 yen ~ 21
1) I plan to use tick or vol charts since i find them more reliable and combining both price and volume together. 2) I've been testing the stochs for quite a while and i've found them less reliable them some MA's cross. 3) I don't intend to trade with real money right away i want to watch the ES and NQ for a while, learn it and test my system with paper trading.
Since i live in israel i don't have this kind of poblem since US merkers are open from 4:30PM to 23:00PM (local time)
A little off topic, but also a noob futures question. Do the futures markets offer liquidity rebates?
Amitman: If you are just testing a strategy and willing to wait to apply it to futures, you can trade the SPY or DIA ETF's that trade just like stocks. You have to trade in 100 share multiple lots, so if you trade 100 shares you can keep potential looses small. If you want even smaller you can immediately sell off 50 shares for a couple of dollars loss (in an IB account anyway - $1 commision on 100 shares plus slippage which is small on both SPY and DIA). This is how I have started.