I can not trade futures in this enviroment

Quote from bigarrow:

You may be right, when I looked at the afternoon chart this evening I was thinking damn why did I quit at lunch. But it is always easy and clear in hind sight. And even if I quit too early I did finish with more points than I usually do. Hell if I was going on hindsight I'd be married to that wealthy pretty girl that liked me years ago and living off her daddy's money.:confused:
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arrow - there's always going to be moves in the PM that you miss, but I have learned to accept that. For me, I have learned that I give back too much in the PM, so I simply stopped trading it. I tried the skipping lunch thing, trade the last 30-60 min's and I found it hard to trade intently till Noon, take a long break and then come back the same day to trade. In the end, it just wasn't worth it to me.
 
yep, i am still trading er2 and it's some crack whore...liquidity has been cut in less than half, but still money to be made but no much more than before...and u have to be really careful: take the best odds trades and let them run. infact ranges have not changed much except the opening range. i will give it a try on es today and see how it goes.
Quote from millydog:

Yeah,

the swings have been huge, My main market is the er2, however this past week I have been trading the ES almost exclusively.

The volatility and lack of liquidity in the Er2 has been insane for me this week, so I have resorted back to trading the ES after not having touched it in months.


I also cut down my size because the moves have been very big at times.

I mean in the ER2 , my usual main marklet, it's like 7 ticks slippage getting in or out. If your wrong your done. So I have been trading a lot of NQ and ES to combat this.

You have to adapt. For example, I kicked ass yesturday, and then lost 75% of my day on 1 bad ER2 trade. Some hedge fund had to sell and dropped it 3 points in 3 seconds. Then another hedge fund had to buy and drove it all the way back up.

The ES which normally sucks, has had some good moves with less devastating rinse job moves, all things considered this week.

So I am not trading the ER2 for now because it's just too nuts.

Just my comments, and how I have changed my trading to this huge increase in volatility.

Mike
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If you used to trade YM with size consider trading ES exclusively with a half or a third of the YM lots while considering each tick on ES like a tick on YM before the volatility spike. Incredible opportunities out there especially during premarket and in the morning - investors are giving away freebies to traders.
 
<i>"Incredible opportunities out there especially during premarket and in the morning - investors are giving away freebies to traders."</i>

Up +8pts and +2pts ES on two shorts... the second one ran +7pts from entry and bounced while I walked the dogs.

Free money, no risk shorting the S&P!!!

Sorry, wrong thread (laugh)
 
today er2 was nice and trendy. hundreds of opportunities all day but especially around 2 o'clock, when price kept bouncing dozens of times between the same areas 1 full point or more away.

hope it stays this way.
 
Quote from millydog:

Yeah,

the swings have been huge, My main market is the er2, however this past week I have been trading the ES almost exclusively.

The volatility and lack of liquidity in the Er2 has been insane for me this week, so I have resorted back to trading the ES after not having touched it in months.


I also cut down my size because the moves have been very big at times.

I mean in the ER2 , my usual main marklet, it's like 7 ticks slippage getting in or out. If your wrong your done. So I have been trading a lot of NQ and ES to combat this.

You have to adapt. For example, I kicked ass yesturday, and then lost 75% of my day on 1 bad ER2 trade. Some hedge fund had to sell and dropped it 3 points in 3 seconds. Then another hedge fund had to buy and drove it all the way back up.

The ES which normally sucks, has had some good moves with less devastating rinse job moves, all things considered this week.

So I am not trading the ER2 for now because it's just too nuts.

Just my comments, and how I have changed my trading to this huge increase in volatility.

Mike
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Mike

how many contracts??
 
Quote from brownsfan019:

Stock - I have found for me that just trading the AM (8am-noon EST) is plenty in one day. I found that when I try to trade all day, I just get exhausted and end up taking bad trades simply to take a trade.

By limiting myself to 4 hours a day of trading, I know that I have to remain focused during those 4 hours or I have to wait till the next day. As long as I remain focused and do my job, there's more than enough trades available to me during those hours on the 3 markets I trade (YM, NQ, and EC currently).
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No problem, from your post , it looked like you quit for the day because you were 'up' nicely.

If thats your normal game, stick with it, though you could still take advantage of special trading circumstances like we have now by trading longer.
 
From most of these comments it seems as though a majority of these futures traders have only learned to trade in the uptrend since 2003 or so. You need to take a step back and understand that the market is always changing, you can't just learn to trade buying dips. What will you do in a downtrending market?

Secondly, this volatility is expected when billions of dollars are being dumped onto the market. Trying to trade the noise is very irresponsible when you see a liquidation going on in the futures markets. Either trade the sell off, or step aside. The noise will just eat away all your profits you made buying dips.
 
Quote from trickshot:
You cannot possibly daytrade this, the whipsaws will destroy you.
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Not true at all. Very possible to daytrade and make some very nice profits as well!
 
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