Quote from youngtrader:
Kind of off topic here but are you writing a book about each and every contract out there? I mean every post and thread that involves you is always asking a question about a certain contract. Do you even trade? Im sure this has been mentioned before to you but just pick a contract to trade and stick with it (especially if you are daytrading, not many can trade multiple markets and know a substantial amount about each and every one of them).
Good Luck
It's not off topic, good advice is universal. If increasenow wants to daytrade I advice him to choose a liquid instrument with low commissions. Bund, 10yr, DAX or FTSE futures would be a good choice here, NQ if he doesn't have the capital.
He should concentrate on this one instrument and learn to follow the market by watching just price, volume and the orderbook. It's best if he limits his trading sessions to two hours a day, longer than that will just wear a person out at first. The last two hours before the close would be ideal, you can see how your instrument has been trading throughout the day and this is often the time when volume comes in and large trends start to develop.
Once a trader develops the mental stamina to concentrate for long stretches of time he's ready to engage the market for a full trading session.
Eventually things start to sink in and alot of mental processes will become "automated". This can be compared to driving the same route home everyday from work, you become so familiar with it that it requires almost no conscious effort at all. This is the stage where a trader can decide to trade multiple markets on different timeframes.
Continuously switching instruments prevents such familiarity to develop, resulting in inconsistent profits at best.