do not trade index futres.

p0box4 said:
Care to explain why? 1 MES contract is just $5 per point, so even if MES went to 0 you would still have $476K left.
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I think i misrepresented. I very often have MORE than 1 position open (using that 500k as an example). I should've said, per strategy. But still, the notional is definitely below account size.

Going leverage'd isn't something i like. I have a better idea. It doesn't make any sense either should you manage large capital. That's something @Laissez Faire doesn't seem to understand, though.
 
Do swing trades with big account first, leverage comes second.

TPO is my favorite, don’t rely on VP much, most of the volume are algo generated. Price action I never get it, counting bars is too much.
 
padutrader said:
which is noisier?
i think indexes.

indexes are supposed to be easier but my experience ES whipsaws more often than it trends.
my observation purely
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Agree.

I find index too noisy to day trade, so I trade individual names.
 
ironchef said:
Agree.

I find index too noisy to day trade, so I trade individual names.
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That is like saying when it rains it is too wet.

Simply adjust. It is what it is. It is up to you to adjust. If you don't you are punished. Being able to adjust quickly and accurately is a valuable skill, perhaps one of the most valuable in trading.

Professionals who work outside, like to quip there is "no such thing as bad weather, only bad clothing and equipment". Of course there are extremes that are overwhelming, same in trading. But day to day action is action.

Don't confuse "noise" with lack of ability to see what is going on and why, in real time. ES is one of the most predictable, imo. Smooth always? no.

Trading ES in sim realtime is a good way to learn quickly.
 
Bad_Badness said:
That is like saying when it rains it is too wet.

Simply adjust. It is what it is. It is up to you to adjust. If you don't you are punished. Being able to adjust quickly and accurately is a valuable skill, perhaps one of the most valuable in trading.

Professionals who work outside, like to quip there is "no such thing as bad weather, only bad clothing and equipment". Of course there are extremes that are overwhelming, same in trading. But day to day action is action.

Don't confuse "noise" with lack of ability to see what is going on and why, in real time. ES is one of the most predictable, imo. Smooth always? no.

Trading ES in sim realtime is a good way to learn quickly.
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Thank you for the coaching. I am new to day trading and trend following.

For reasons I am still trying to figure out, I am profitable trading names but not index. Never try index future.

Maybe because I don't use indicators, I trade based on shapes and rhythms. Can't find the shapes or rhythms of indexes. As @padutrader said, they appeared very "choppy" to my untrained eyes compared to names.
 
Bad_Badness said:
That is like saying when it rains it is too wet.

Simply adjust. It is what it is. It is up to you to adjust. If you don't you are punished. Being able to adjust quickly and accurately is a valuable skill, perhaps one of the most valuable in trading.

Professionals who work outside, like to quip there is "no such thing as bad weather, only bad clothing and equipment". Of course there are extremes that are overwhelming, same in trading. But day to day action is action.

Don't confuse "noise" with lack of ability to see what is going on and why, in real time. ES is one of the most predictable, imo. Smooth always? no.

Trading ES in sim realtime is a good way to learn quickly.
More...
Question for you: Should I try going back to using indicators to day trade index?
 
Bad_Badness said:
That is like saying when it rains it is too wet.

Simply adjust. It is what it is. It is up to you to adjust. If you don't you are punished. Being able to adjust quickly and accurately is a valuable skill, perhaps one of the most valuable in trading.

Professionals who work outside, like to quip there is "no such thing as bad weather, only bad clothing and equipment". Of course there are extremes that are overwhelming, same in trading. But day to day action is action.

Don't confuse "noise" with lack of ability to see what is going on and why, in real time. ES is one of the most predictable, imo. Smooth always? no.

Trading ES in sim realtime is a good way to learn quickly.
More...

Would it be rude to ask what your results are trading ES? If I recall correctly, you were talking about needing to go back to the drawing board not that long ago as you lost money day trading index futures. Forgive me if my memory is off and I'm mixing you up with some other member.

Anyway, I do think there's some truth in what @ironchef is saying. I know a guy who never was able to become profitable day trading ES, but became very profitable trading another instrument with cleaner trends and less noise. I'm 100 % convinced there are easier ways to make money than day trading index futures.
 
To be clear, my speciality is ES and I rate myself to be fairly good at it having spent a huge amount of time and effort to get there. So, it's not like I'm saying it can't be done, but I did say that I agree with what the OP said, i.e., it's not for inexperienced traders. You really have to bring your A game on a daily basis. No sloppiness allowed. :)
 
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