Wednesday, April 7, 2010

Welcoming more markets!

Today went pretty well. Couple winners and a couple pars - can't complain even if I wanted to. Ok, I did get slipped a tick on one of my winners but hey... we'll let it slide this time. I decided to add the YM & NQ to my workspace as its really pretty easy to monitor 8 things at once when you have most things either automated to alert potential trades or the setups are so blindingly obvious they are hard to miss to begin with.

I had been considering adding the ES/NQ/YM/TF/EMD or Crude. I've been hearing horror stories about fills especially in the TF, even on 1 lots, and frankly I don't need that. The ES still sucks long phallic objects as far as i'm concerned and even though I could be more profitable in it with the higher $/tick, I still hate the way it moves and backfills. The EMD isn't going to be liquid enough moving forward with more size so its kind of a futile effort, and then there is crude.

Crude is awesome because it moves so fast and directional, but its also so quick sometimes it can catch me off guard. Trading relatively small range charts on a market like that can be dangerous because sometimes the moves happen so quickly I physically can't click in the right orders fast enough. So i'm sticking with the NQ/YM for now as a nice middle of the road compromise.

It sucks that both of those markets are 5.00/tick but here's the honest to god truth... a 7 or 11 tick winner at 5.00/tick is still money I didn't have before, its growth I didn't have before, and i'm not going to scoff at that. I just want opportunity in liquid markets and they qualify. When the time comes to start chucking a couple lots into the market they will allow me to do so with risk that is still less than my 1 lot trades in the 6E/J/S. Works for me!

So even though one of my winners was in the NQ and only equated to 35 bucks... that 35 bucks made this day a triple digit winner rather than a double digit winner and that's something I want to see more of!

Trade Results:
4 Trades, 2 Winners, 2 Pars
Gross P/L: $110.00/per

1 comment:

E-Mini Player said...

Crude is actually an awesome market to trade, and I think you'd do much better in it compared to YM/NQ. But Crude is an Execution game, and you're right, the prices move very quickly but if you can move with it, Crude can pay you nicely and immediately. I'm really liking trading Crude.