ESZ3 ATR 14 day is about 12 points! During NRD's change trading style/switch systems to "SwingTrade" = catch more of weekly bar.......1/3rd or better. Volatility as measured by ATR 14 day is way down but ES contract still has good trading range.
what are you trading? the SPY was a bit funny this morning, we had a good reversal off the pivot at 9:48am, rode that for 50 cents, reversed at the 10:30am reversal (actually happened early b/c market blew off on the short -- i hate it when that happens....catches me off guard but once the blowoff happens you must change gears), and stopped out when SPY then headed for MORE THAN 100 cents i usually bail after the 10:30am trade. so i'm making bacon in the kitchen and i come over drinking my smoothie and jesus the sellers stepped in. love it how institutional tries to sneak its way into the door without anyone noticing....hehe anywhoo, today was an average 40 cent day. my goal for the week is already filled....120 cents and its not friday tomorrow! .. .. my man, ya gotta learn the floor pivots. do a search on 'pivot points' and read my thread. once you understand the mechanics of liquidity and how the floor moves to initiate motion, you will improve your trading instantly. wonder if we'll get a breakout back up towards the pivot this afternoon....we shall see...... good luck -shizfunk
SPY? Thats out of our parameters. I trade at a prop firm and there are certain parameters that we follow. They worked great before this month came round. Regardless I cant even get a chart on it But I gotta check the pivot points thread.
We're only allowed to trade NYSE. Seems like Naz has most of the action now. But then I hear that the MMs are 10 times worse than the specialists.
I've tried both, and the Naz stocks are much safer to trade; at least for me since I play 1-2K sh at most. NYSE might be OK for you if you're doing larger size and trying to make 5-10 cents on each trade....specialist may hook you up on a 10-20K sh order. -FastTrader
I only trade 500-1000 shares. The specialists have been more brutal lately, probably cause they realize that their jobs may soon be gone. But today was just horrific. I usually love these higher volume down days and do great, but this has been one of the worst. Our whole room did badly, no one knows what is going on with this market. Could be the NYSE shakedown.
Mecro, I don't know what prop firm you trade with, but there are alternatives out there which will allow you to trade any market you wish. If you're trading 500-1K sh, I would suggest trading liquid Naz stocks. -FastTrader
The ES03Z traded 9. 4 times its 65 day average today. At times their were a day's trading on as few as 6 to eight consecutive bars. you might want to segment the day into 10 equal volume parts to get a look at how active a day is at this point.