Jan 23, 2008

Futures

Made my first futures trade today and managed a 6 point gain off a short of ES. I'm still kinda messing around with some things but really wanted to place an actual trade.
I have to say, I totally understand the attraction to futures. Right now, I'm only concentrating on ER2 and ES. But that's all. Just two symbols to track and only 2 charts up on my screen. Whereas stocks require a bit more attention and preparation. What I would ultimately like to happen is limit my gap watchlist to just 10 or so high-volume stocks every day and only manage those. We'll see how things work out.

6 comments:

PRD trader said...

Did u find it easy or tuff?Best of luck.

Anonymous said...

Which broker did you end up using ?

Tom T. said...

I look forward to a more in depth post because I know nothing about futures and i'd like to learn how they are traded and how trading them are different from daytraing stocks -tom

Jamie said...

Ditto Tom T.

bl said...

nr7,
check out MOO and the fertilizers, ag machinery, etc.

OONR7 said...

prd: depends on your definition of easy or tough. The tough part is trying to mix and match the indicators I have available to give me the confidence to place what I believe are high-probability trades. However, right now I don't get a lot of signals during the day (which may be a good thing) but I see moves that I more than likely should have been able to catch. The easy part is actually placing the trade. Fills are quick... (no slippage since I used a stop-limit order for the price I wanted) and the exit was just as quick and accurate.

tom t: don't really want to get into the details right now as I don't have a finished 'system' (if you will). Frankly, I have no idea how this system will work long-term but since the beginning of the year it's been promising.

anon: I ended up using IB (which is what I use for equities). However, I may switch over to TS if I start placing more futures trades as the margin requirement are much less.