do not trade index futres.

ironchef said:
Question for you: Should I try going back to using indicators to day trade index?
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No. I would recommend price action more. But truthfully, there is a lot to use and you need to find your own method. Just do it on SIM until you can get consistent and sustainable. The latter is the harder part and best to use scripts to achieve.
 
padutrader said:
i like aud usd; forex aussie dollar
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hmmm. a different view from mine.

I hate Audusd - the day range is only 0.3%

By comparison, the NG day range could be 17%

Since you like non-volatile things, then you should try
food / agri futures.
eg corn, soya, wheat, rubber, rapeseed ...
It is highly non-volatile / non-flammable / inert.
 
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Laissez Faire said:
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.
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I agree there are smoother instruments, TN for instance. And yes, to there is easier ways to make money, risk adjusted. Heck swing trading stocks in one of them. And yes for beginners thinking they can master it immediately, they will be disappointed. Maybe back in 1990, but not now. But I would opine, that it is a great way to learn quickly on sim, especially now the markets are in transition post rate adjustments.

As for me, I am profitable but not sustainable manually trading. I can make money for a few weeks, then I start to churn. So I am creating an algo based on heuristics of what I do but can't sustain. Never really "went back to the drawing board", but added more intelligence, then again and then again. I got more to add, but will do it after this next version. Last version was BE with making about 3K, single contract over 7 weeks.

I figure if I can get the Algo to do a profit factor of >3 on ES, and scale, then I will move on to TN.
 
Bad_Badness said:
No. I would recommend price action more. But truthfully, there is a lot to use and you need to find your own method. Just do it on SIM until you can get consistent and sustainable. The latter is the harder part and best to use scripts to achieve.
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Thanks. I agree.

In fact, after 3 months of profitable day trading I am going back to paper day trade because I don't know why it worked. I need to quantify and capture the methodology otherwise it could simply be luck.
 
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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Aloha @padutrader ,
How has your trading and funded account been going? When I hear whipsaw, i think range behavior, which is where brooks really pays off going both directions IMO. Volatile moves, false breakouts.. “buy low, sell high, scalp”

What timeframe chart are you trading off of?
Have you been doing more scalp or intraday swing trading?
Are you still using brooks methodology?
 
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