picking 1 product to trade and master

N

noname

I'v been swing trading stocks for about 2 years and have been consistantly profitable the last year or so. I am young and my account is small, so I work full time. I'v been pondering the idea of learning 1 thing and mastering it and only trading it. I'v traded options a little and I don't have any interest in continuing with them. I figure whatever I decide to learn will be a futures product. I am considering crude oil, possibly euro/dollar, the thing I dont like about currencies though is that it seems like so much affects it, I shouldn't get into it at this point, but its not out of the question. I also of course am thinking about indexes suck as the e-mini.

Does anybody have and suggestions and reasons why? I would consider pretty much any commoditiy or futures product. My ideal holding period would be anywere from 1 day to a month. I work days so I cant sit in front of the computer all day. My intensions are to read everything i can and study whatever I choose and try to master it and only focus on 1 thing. any suggestions?
 
I spent most of my trading time during the last 3 years staring into the eyes of ES trading almost nothing besides it in all its various forms.

Recommended? I don't know, but even doing this full time, she is still endlessly compelling.
 
Quote from noname:

I'v been swing trading stocks for about 2 years and have been consistantly profitable the last year or so. I am young and my account is small, so I work full time. I'v been pondering the idea of learning 1 thing and mastering it and only trading it. I'v traded options a little and I don't have any interest in continuing with them. I figure whatever I decide to learn will be a futures product. I am considering crude oil, possibly euro/dollar, the thing I dont like about currencies though is that it seems like so much affects it, I shouldn't get into it at this point, but its not out of the question. I also of course am thinking about indexes suck as the e-mini.

Does anybody have and suggestions and reasons why? I would consider pretty much any commoditiy or futures product. My ideal holding period would be anywere from 1 day to a month. I work days so I cant sit in front of the computer all day. My intensions are to read everything i can and study whatever I choose and try to master it and only focus on 1 thing. any suggestions?
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This is a very fine idea. Pick up any trading book worth it's salt and you will find this suggestion. I trade only the ES but I don't hold overnight- too much risk with news and overnight action. Most of the time, I only trade the first three hours or so of the NY open. I live in the Pacific time zone so that allows me to have a day job as well until I complete my "apprenticeship."

My personal feeling about individual stocks is that most are too manipulated to be traded effectively. I know, the ES is also manipulated, but I've managed to trade around this so far.

Perhaps you might consider the SPY or QQQ. These can easily be swing traded while avoiding the overnight margin risk. You mentioned that you're familiar with options. Maybe you could develop a strategy to hedge your trades with options.

Best of luck to you in all of your endeavors.

Uni
 
quote from resinate:

I spent most of my trading time during the last 3 years staring into the eyes of ES trading almost nothing besides it in all its various forms.

Recommended? I don't know, but even doing this full time, she is still endlessly compelling.
More...
Agreed.

In addition, I'd suggest trading for a few weeks and then take a break ... then trade ... then take a break. The breaks will allow your emotions to calm down, so that you do less emotional trading.
 
Quote from resinate:

I spent most of my trading time during the last 3 years staring into the eyes of ES trading almost nothing besides it in all its various forms.
More...

I agree also. Even when I was trading stocks, I had a very small stable of dependables. I got to know where buyers and sellers were most likely to show, whether they were more interesting to traders or investors, how they reacted to news and earnings, etc. Plus this meant a lot more time to myself rather than doing research and a far more relaxing day.
 
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