wave 3 is of higher risk vs w1 and w2.
If I missed catching w1 and w2,
I'd enter w3 with a smaller quantity.
Day & Night trading Derivatives Futures
- Thread starter maxinger
- Start date
wave 3 is of higher risk vs w1 and w2.
If I missed catching w1 and w2,
I'd enter w3 with a smaller quantity.
I am paying data feed to the brokers and also esignal.
I tried to channel data from broker to esignal and from
esignal to the broker, and it did work.
I use one 42" and five 32" screens.
I have the various index futures, copper, oil, gold, currency, bonds ... charts displayed (see posting #828).
I have all the trading platforms and ladders in armed mode.
Then I have to wait and wait and wait for trading opportunities/signals.
There are thousands of fake / lousy signals in a day.
So I trade at the selected timeframe.
I use Intermarket correlation to improve the success rate.
Most of the time, the signal comes out- of- nowhere.
And we don't know what is really happening until a few hours/days later.
(see my earlier copper posting).
Many outright day traders use Intermarket correlation too.
That's why we have many screens.
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Your room is painted with charts !
That’s the answer I was fearful about
Got a 14inch laptop and don’t really want more screen estate. Trading beside of a 29” widescreen monitor but it’s never turned on.
But it makes sense. Why bother screening or checking news / reports when you can see the charts in real time + the liquidity drying up in front of events.
There isn’t much Futures (about 25?) and that’s a blessing to stay on top for opportunities but it takes no less than 6 screens
Thanks for the answer.
How do you stay on top of market correlation ? For example yesterday we had NG that went up 3% while Energy was down, overall.
Found this table again
https://www.mrci.com/special/correl.php
Based on the table it looks like NG is inversely correlated with Cacao and Orange Juice (Hahaha)
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If I want to improve my success rate trading CL, what correlation should I be looking at?
Dubai oil - no because of its low volume.
You can look at
- Shanghai International Energy Exchange INE oil.
Do note that it is closed during the European session
- ICE Brent crude oil
- NYMEX HO heating oil & RBOB gasoline as mentioned in the above Sekiyo posting.
But the volume is low during the European session
Your room is painted with charts !
That’s the answer I was fearful about
Got a 14inch laptop and don’t really want more screen estate. Trading beside of a 29” widescreen monitor but it’s never turned on.
But it makes sense. Why bother screening or checking news / reports when you can see the charts in real time + the liquidity drying up in front of events.
There isn’t much Futures (about 25?) and that’s a blessing to stay on top for opportunities but it takes no less than 6 screens
Thanks for the answer.
How do you stay on top of market correlation ? For example yesterday we had NG that went up 3% while Energy was down, overall.
View attachment 314744
Found this table again
https://www.mrci.com/special/correl.php
Based on the table it looks like NG is inversely correlated with Cacao and Orange Juice (Hahaha)
There are thousands of futures in this world.
So hundreds of monitors would be needed.
But the limitation would be
- table / wall size
- brain CPU
Anyway, that is a joke.
NG has a very poor correlation to crude oil, Heating Oil, and RBOB gasoline even though they are all energy things.
I am sure there is NG supply and demand data/news but I am not able to get it.
So if I trade NYMEX NG during the US winter time, I don't do any intermarket correlation.
I don't trade ICE Europe TTF and NBP.
If I were to trade ICE Europe NG futures, I'd face a similar issue.
I only have live data for HO and RBOB. No ICE or INE live data.