Question for ES Traders

Quote from nononsense:



How can something that is (mostly) random being lead by something? Allowing for your "mostly" the relationship to the ES can be "at most" very weak.

nononsense
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Thx for asking. What I meant is that the YM is not a lead indicator itself in the Index Futures. If you watch closely the small swings in the YM you'll see what I'm saying about randomness. It doesn't emulates the ES nor the Dow. The reason I think this happens is because the YM is heavily traded for individual traders and newbies since the tick value is only $5 and the ES and NQ are the place for bigger guys .But that is only my opinion. I'm not dictating financial markets classes. :)
 
Quote from spyderman:

I'm looking for divergences and/or confirmations...being an ex-floor trader

this is rather simplistic but for example only: if NQ trending higher...but SOX lagging or not confirming in charts....I'll look to short NQ.....

It is important to observe the relationships and how they change....


If you want to trade NQ i suggest you watch 8 or 10 of the top cap stocks which make up 30% of the index...they give a clue....
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I agree with all these statements. That's the way I look at it too . Your post illustrate well the ideas in my posts .
 
Thanks for all the posts guys. Next week is "expirement-week" for me. On Monday, I will trade ES watching ES only. On Tueday or Wednesday, I plan on trading NQ only. You'll see the results in my Journal.

Thanks, and if anyone has any other thoughts or comments, please post on.

-Fast
 
Hawker, a side question; what kind of stops are you using on YM? I tried trading the YM but it moved around "randomly" a bit too much and I was getting stopped out of a lot of good trades. How do you handle the random noise in YM?

-Fast
 
Quote from Fast_Trader:

Do you watch NQ while trading the ES? If so, how do you use it to your advantage? Do you ever take a position in ES based off a strong move in NQ?

-Fast
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Hey dude.

This is a good one.

The NQ is usually the "TREND" leader in the bunch!

the "SPOO" is the "Love Child" of the Nasty(NQ) & the Big D (Dow).NOTE: these are pet names we brokers used to call them.
The Nasty Nasdaq got its name because of its WILD 200 pt average daily ranges back in the late 1990's!

Anyway. If you look at a chart (anychart) between the 3 they are "identical"! I know that I'm not telling you anything that you don't already know. Your no rookie!

Here is what I believe you are looking for? (you just want some confirmation because you already know the answer you are looking for). The Nasty leads the bunch and confirms the moves.
If the "D" breaks out lets say by 40 pts and the "SPOO" is up lets say 6pts but the Nasty is only up lets say 2 pts or even down 4 pts then something is very "FISHY" about this particular rally.

Bottom line: There can be no real rally without the "NASTY".
Bottom line: There can be no real sell off without the "NASTY".

:D :D :D
 
p.s.

The "CASH" leads the FUTURES which leads the Day Session activity in the 1st hour of trading.

I remember back when I was a broker I would sit in the morning and watch the SPX / NDX / Dow turn green. when that happend I new that we would move up in the Futures.

This is a great addition to any daytrade system.

pull up the SPY/Dow Jones/ QQQ or COMP.

pull up the ES / NQ / DJ futures.

watch when the "CASH" comes in or leaves out and trade the futures accordingly.

Think Im joking? Just try it on Monday and see what happens.
You will fall back in your chair from laughter.:D

:eek: :eek: :eek:
 
Quote from Fast_Trader:

Thanks DUDE!

Btw, how's your "workout" goin? We're all waiting for you in "the room" :D

-Fast
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trust me I'm on my way. Im working out my abs right now but I plan to meet you there in about 60 days.

p.s what is "BTW"????:confused: :confused: :confused:
 
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