What do you trade?

[pachzevel]

First of all, a thank you to the founders and mods of the site for providing such a great platform.

Those of us who have "done the rounds" in trading know that as much as top notch software and indicators are great, there's a lot more to good trading (and raking in the $$$) than just owning the latest and the greatest.

Bearing that in mind, I think it would be great if we can get some high-quality discussions going on the many aspects of successful trading.

First, a question: What do you guys trade?

I've included some common answers in the poll, so please vote there, but feel free to chime in on the thread as well.

[Admin]

I have edited the poll to include options for other types of futures trading (ie index and commodity futres) and options so those traders will find their foots in this poll too. Hopefully you will like it.

[RichardLee]

hI, I only trade the S&p500 Mini, this is the best index to trade.

[PolarBear]

Hi all,

I'm new to this forum so I thought I should post something up. Thanks for all the useful info on the site - it looks like a great space for ppl to talk through the many aspects of trading.

I've been reading a lot about eminis over the past few month, and I am going to begin trading eminis day trading on the S&P 500, Rusll 2000 and euro stoxx 50 in the next few weeks once my platform and new trading account is set up...
I'll keep people posted of how i go


cheers

[pachzevel]

I'd love to hear from others what they trade. Especially interested if we have any equities daytraders on board.

Another question that has struck me as a result of this thread, and in general after being around YSW for a couple weeks:

A lot of members seem to be really focused on having the latest software, and every indicator on the market. My experience has been that while every tool in a trader's chest is valuable, there is a limited value to "canned" indicators, and that trading is (I daresay MORE) about fixing that gray stuff between your ears than it is about having many software tools.

Are there traders that are trading (successfully) using canned indicators / software?

PZ

[Futtrader]

Originally Posted by pachzevel

Hi Pachzevel.

I've been trading index futures for almost 5yrs now, but mostly over longer time frame moves (swings). The inherent chop of the ES is just too much for me to consistently scalp day-in/day-out. I commend guys that can do that for a straight year or more, because generally most scalpers get washed out of futures. For position trades, obviously you have to have a higher stop loss tolerance, the nerve to hold overnight, and ensure you scale in around "major" levels of support or resistance...don't dump your max position all at once, especially in the whipsaw ES where you are given back & fill opps.

I only trade large liquid and volatile equities such as AAPL, RIMM and some of the bigger dry bulk shippers (ex DRYS). In-fact the only instrument I day-trade are equities. Reason being: it's somewhat easier to work with/read other trader mentalities in popular equities (attracts nimrod joe retail) than it is in the futures market. The other side of the trade on a future instrument is generally a serious pro and they know all the tricks in the book (ex blowing out stops near typical pivot points, S/R levels etc). Have slight preference for the YM/NQ since the market is not yet as efficient as the ES. Smoother action in YM/NQ and plenty of liquidity for small-mid tier size lots sizes.

With regards to indicators and software... I agree with you that too much focus is on the tools and not the operator. Hate to sound like a broken record, but money management/discipline is numero uno. I used to be the bells and whistle type guy, but after grinding everything down to a KISS setup over the years, all I need to trade an emini is live time & sales strip, a DOM, slow stoch, RSI, volume, pivots, the 4, 9, 18 MA's and 89tick, 1min, 3min, 5min, 30min and 60min candle time frames.

[pachzevel]

Who do you trade equities through, Futtrader? Regarding the dry shippers, are you watching the tape, or using TA?

[Futtrader]

I use Interactive Brokers to trade all instruments. It may not be the best at any one instrument, but as an all inclusive package with good commission rates, it's definitely top grade. Never an issue getting quick fills on the ES and only the occasional tick of slippage.

As for shippers, I use TA and somewhat follow the trend of BDI (Baltic Dry Index). Currently it is on a move.

[DarkElite]

Originally Posted by Futtrader

It doesn't look like a KISS setup. You use so many tools and the system looks very complex. LOL

How do you use those tools to trade? Would you mind sharing your thoughts?