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What is your favorite instrument to trade? And why? Don't forget to tell us why. Is it because of time zone? Is it because of volatility? Is it because others are trading it? Give us your reasons.
I voted for currencies because of the micros and the currencies larger trend following characteristics. Although I really like YM out of the stock indexes. Because of the higher granularity of points vs the ES, not to mention smaller tick size. It still has all the same tools as the spoos, tick, trin, adv/dec etc. But mostly I am trading small instruments with small size so i am biased there. But I think both are great instruments it really depends on your system and what your trying to exploit.
I voted for Crude Oil because I like its volatility and the huge swings it often creates as well as the sufficient liquidity provided during the US afternoon session (which applies to my timezone of trading).
I also like the Nasdaq and the E-Mini Midcap (EMD) as well, because these markets tend to trend pretty decent and quite clear (especially the EMD, much better than YM or TF).
For a number of reasons. Certainly for the opportunities so a daily basis to trade, as it does have significant movement in price.
Also, because of the short term nature of the contract, it respects levels of support an resistance very well.
The world runs on hydrocarbons, and that does not appear to be ending anytime soon. So there is a continuing demand for the commodity, and therefore, has a mitigating effect on overly large swings on pricing.
My favorite is currencies, initially because of my timezone. But over time i've become very attracted to the way currencies move. In my experience i've found them to be like night and day compared to the way the major US indeces move.
Im also really starting to like Soy Beans. It definitely needs to be respected though. Fast moves. Big volatility. I also like it because it's main trading hours suit my time zone (ie: the beginning of the US session).
I find the combination of the Pound and Soy Beans works well for me. The Pound tends to move reasonably slowly with plenty of time to plan and wait for things to play out. Soy Beans moves slowly at certain times, but all of a sudden it's like a bat out of hell. When Soy Beans is moving, it requires complete focus. Whereas the Pound can just carry along happily without having to look at it constantly.
I prefer to trade smaller dollar per tick instruments, which is why the Pound is my primary instrument. Unfortunately Soy Beans is bigger than what I like, but I manage that by trading less contracts.
I voted CL because of its very consistent behavior in terms of my charting preferences:
fib targets & retracements, S&R, measured moves, wave counts (usually 5 but some 7 recently), likes to hold support, doesn't often run the stops and reverse, likes to go for the $1.00 or $2.00 move and then retrace. Trend running characteristics are strong and reliable, allowing multiple entries with valid trailing stops below last swing low and finally, when it goes, it keeps going and going.
Best thing since NQ
