Comprehensive ES

B

Boomer

Want I want to know covers many aspects, but it is all based around the ES. (you can sub the NQ or YM):

Capital: -what amount of capital per contract? (to provide comfortable leeway)
-how many contracts would a full time es trader trade, an experienced one who makes a living off of it?

Techniques:
-what is more effective in es: trend, reversals, ranges?
-what types of charts? (candles, bars, 5 min, 15 min)
-average # of trades a day? (every any overnight)
-what indicators: tick, trin, pivots, s/r
Comparisons:
-how does it compare to trading the s&p 500 contract
-# of contracts before partials fills come into play

and any other info you have would be great. (books, sites)
i am starting to following the sp 500 everyday to get a feel for the levels and how it moves, in hopes of trading the es in the future. thanks again for any knowledge.
 
Quote from Boomer:

-what indicators: tick, trin, pivots, s/r
More...

Yes. These are extremely important.

I've learned that if trading Equity indexes intraday it is of utmost importance to be watching the following charts at the same time.
DJIA cash, ES, S&P500 cash, SOX, NQ
They all will operate in like fashion and by watching them all at once you can see when SOX hits good resistance you can key off that. or the DJIA.

NYSE TICK and TRIN are very important.

Here is my explanation on how I watch the TICK
http://www.elitetrader.com/vb/showthread.php?s=&postid=291079#post291079

Most important though with ES is support and resistance. Key off that.

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But having said all the above, the real secret to trading is your mental state and ability to manage trades unemotionally and take small losses and large gains. See "Trading in the Zone" by Mark Douglas.

The natural tendency for new traders will be to take quick gains and hold loosers too long. This will be your hardest obstacle to overcome I believe.
 
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