NexusFi: Find Your Edge


Home Menu

 





best instrument for new traders


Discussion in Traders Hideout

Updated
      Top Posters
    1. looks_one tturner86 with 4 posts (3 thanks)
    2. looks_two mrphr with 3 posts (0 thanks)
    3. looks_3 Captain Howdy with 3 posts (1 thanks)
    4. looks_4 PK 1 with 2 posts (1 thanks)
      Best Posters
    1. looks_one Massive l with 6 thanks per post
    2. looks_two kbit with 3 thanks per post
    3. looks_3 trendwaves with 2 thanks per post
    4. looks_4 tturner86 with 0.8 thanks per post
    1. trending_up 8,797 views
    2. thumb_up 22 thanks given
    3. group 11 followers
    1. forum 24 posts
    2. attach_file 0 attachments




 
Search this Thread

best instrument for new traders

  #21 (permalink)
 budfox 
Toronto
 
Experience: Beginner
Platform: Sierra
Broker: MB
Trading: ES
Posts: 313 since Jun 2013

Hi there,

I have been trading the ES for the past couple of months now, and I got to know it intimately.

No, I have not been "successful" trading ES, since I have blown my account a couple of times, I have gotten to know this beast pretty darn well.

Maybe i am being too stubborn, and should test out a different instrument, a member on this forum recommended QM.

I'd like to investigate and try QM out, but it does have slippage issues, or so I heard.

Perhaps I should backtest M6E (if I can trade it during Eastern time), and see if it would fit my trading strategy better.

Would I recommend ES to a beginner? Its not impossible to be successful on the ES contract as a beginner (depending on who this beginner is), but like most individuals have recommended> probably smaller, less riskier contracts are more suitable.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
Are there any eval firms that allow you to sink to your …
Traders Hideout
Better Renko Gaps
The Elite Circle
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
ZombieSqueeze
Platforms and Indicators
New Micros: Ultra 10-Year & Ultra T-Bond -- Live Now
Treasury Notes and Bonds
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
59 thanks
Funded Trader platforms
37 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
GFIs1 1 DAX trade per day journal
22 thanks
The Program
19 thanks
  #22 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-40
Trading: GBU-39
Posts: 6,191 since Sep 2013
Thanks Given: 10,459
Thanks Received: 12,695


budfox View Post
Hi there,

I have been trading the ES for the past couple of months now, and I got to know it intimately.

No, I have not been "successful" trading ES, since I have blown my account a couple of times, I have gotten to know this beast pretty darn well.

Maybe i am being too stubborn, and should test out a different instrument, a member on this forum recommended QM.

I'd like to investigate and try QM out, but it does have slippage issues, or so I heard.

Perhaps I should backtest M6E (if I can trade it during Eastern time), and see if it would fit my trading strategy better.

Would I recommend ES to a beginner? Its not impossible to be successful on the ES contract as a beginner (depending on who this beginner is), but like most individuals have recommended> probably smaller, less riskier contracts are more suitable.

I highly suggest the M6E. I trade the M6E while using the 6E as my chart that I am viewing. Because the 6E is more liquid it is easier to see the signals. Also trading the M6E will require you to swing for larger gains rather than scalp. (At $1.25/tick and $5 commission it takes atleast 5 ticks to B/E). This will require you to be discipline and look for the best setups.

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:
  #23 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-40
Trading: GBU-39
Posts: 6,191 since Sep 2013
Thanks Given: 10,459
Thanks Received: 12,695



Captain Howdy View Post
Why not?

Because 1 ES contract is worth $80k+ that you are buying or selling on a $500 deposit. Leverage. It is the double edge sword that can make you rich or cut your head off.

I suggest trading something much smaller like Micro Curs (M6E, M6A), Spot FX.

Visit my NexusFi Trade Journal Reply With Quote
  #24 (permalink)
 budfox 
Toronto
 
Experience: Beginner
Platform: Sierra
Broker: MB
Trading: ES
Posts: 313 since Jun 2013


tturner86 View Post
I highly suggest the M6E. I trade the M6E while using the 6E as my chart that I am viewing. Because the 6E is more liquid it is easier to see the signals. Also trading the M6E will require you to swing for larger gains rather than scalp. (At $1.25/tick and $5 commission it takes atleast 5 ticks to B/E). This will require you to be discipline and look for the best setups.

you're in texas, what time during the day do you trade the m6e?

Reply With Quote
  #25 (permalink)
 
tturner86's Avatar
 tturner86 
Portland, Oregon
 
Experience: Intermediate
Platform: F-16CM-40
Trading: GBU-39
Posts: 6,191 since Sep 2013
Thanks Given: 10,459
Thanks Received: 12,695


budfox View Post
you're in texas, what time during the day do you trade the m6e?

5:30 AM.

Europe opens @ 3 AM my time, so I have 2 1/2 hours of data when I come in. The latest I trade is 10:30 AM as that is when the Euro close. I also break between 8-9AM for the US open. I don't like holding M6E orders during that period.

Visit my NexusFi Trade Journal Reply With Quote
Thanked by:




Last Updated on March 21, 2014


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts