Day Trading With NQ/ES Contracts

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muna580

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I am new to the stock market and stuff... I started trading stocks about 3 months ago. Now I started futures.

I want to day trade with ES and NQ contracts since the leverage of profit/loss is higher. Even if I make about $50 on a daily basis I will be happy. I know that futures is a very dangerous, as I have lost $500 in one day, yesterday....

Are there any technical indicators that give out buy/sell signals that I can use to day trade with ES/NQ contract? I saw some videos on youtube of people day trading... But I don't really know how they know when to buy and sell?

I traded futures for 2 days now, I just got into it. All my experience have been bad. I try to buy at the lowest point in the range that is occurring.. But the moment I buy, the price drops like a stone, and I get very scared...
 
I always find losing $500 on a Saturday sharpens me up for the week ahead. (Welcome to the site by the way. Always good to find people who just jump on in....)

With 3 months stock trading under your belt I shouldn't worry. Most pros have less than that.

I'd suggest you keep searching youtube for people trading as that's by far the best way to become profitable trading futures. And take a few expensive courses, any of them will be as good as the other so no need to be picky, they really help too.

There are indicators that will pinpoint precise turning points for the instruments you mention and I'll see if I can dig them out for you and post them up here later on. Used to use them myself, but just got bored doing the same old same old – buying at the bottom, selling at the top. No challenge.

I am genuinely surprised you're finding it tough after your second day trading futures. Sure, day one can sometimes be a little problematical, but if you're going in full size and toughing out the contra moves by averaging up/down, I can't understand why you'd still be having such trouble.

Are you sure you're betting the ranch on every trade? If you're not, that may be where you problems are. Half-hearted trading wont do it in futures. Be a greedy pig every trade.
 
@TheBramble, thanks alot of the reply. I ran into Bollinger Bands just right now. But I am not really sure how to use them. They say that if the price crosses the lower band and then crosses the middle band, its a good time to buy. I took at look at Friday's graph with Bollinger Bands, and I don't think it really works. I mean, there are alot of times where it does work, but there are also a handful where it has failed.

I searched youtube for some guides but there isn't really much that shows how to do it. I ran into this one, YouTube - Profit big by using this simple trading technique, but I am not really sure what he is talking about. What are those tech. indicators he is using?

As for you being surprised that I am having a tough time... I am surprised too. I thought it would be alot easier... but evertime I buy, the price drops like a rock... I try to buy at a low point in the range that the NQ/ES is moving in... But the moment I buy, it drops even lower and lower, and never comes back up...
 
LOL HAHAHA.. well said,

TheBramble said:
I always find losing $500 on a Saturday sharpens me up for the week ahead. (Welcome to the site by the way. Always good to find people who just jump on in....)

With 3 months stock trading under your belt I shouldn't worry. Most pros have less than that.

I'd suggest you keep searching youtube for people trading as that's by far the best way to become profitable trading futures. And take a few expensive courses, any of them will be as good as the other so no need to be picky, they really help too.

There are indicators that will pinpoint precise turning points for the instruments you mention and I'll see if I can dig them out for you and post them up here later on. Used to use them myself, but just got bored doing the same old same old – buying at the bottom, selling at the top. No challenge.

I am genuinely surprised you're finding it tough after your second day trading futures. Sure, day one can sometimes be a little problematical, but if you're going in full size and toughing out the contra moves by averaging up/down, I can't understand why you'd still be having such trouble.

Are you sure you're betting the ranch on every trade? If you're not, that may be where you problems are. Half-hearted trading wont do it in futures. Be a greedy pig every trade.
Click to expand...
 
You sure you are ready to trade those markets?

It will take years to understand how these futures work.

Dont loose to much before you understand what you are dealing with.

I have been trading those markets for a long time.

You need to have a good workstation setup, reliable charts and a fast broker.

Good luck

Baldur
 
I just learned about piviot points. I am still confused though. How do I know when to buy/sell?
 
I just learned that the pivot points and the other points S 1-3, and R 1-3 are just barriers. So if the price is below the PP, then PP acts like a resistance. Once it corsses the resistance, its going to take off. But I noticed its not true. If I have bought NQ today when it crossed the PP, I would have lost alot of money because it dropped after...

So what I am trying to figure out is when to go long.
 
Reading up and watching videos on the PP made things sound so easy. The examples always show, that after crossing the resistance or the PP, the price take off like a rocket, but its not always the case. I mean. for example today, with /NQU8, it crossed the R1. It was doing good, it kept going up for 5-10 mins. Its a good singal to buy. But then, it started dropping.

So how exactly are we suppsoe to know?

Edit:

I also wanted to know, what settings should I use for the MACD if I am day trading? Also, I am guessing on the MACD, I am suppose to buy if the two lines cross the signal like (the middle line). Am I right? Also what are those bars that I see on the MACD going up and down. I think its called a histogram. What do those signal?
 
I found good stuff on youtube too and am making about $4000 per day :p ive been trading 1 week :p nice work
 
Si55AMG said:
I found good stuff on youtube too and am making about $4000 per day :p ive been trading 1 week :p nice work
Click to expand...
That's a good start. youtube is my primary educational tool for trading too. Don't be disheartened with this week's results, you'll soon be raking in real money. Keep searching youtube - that's where the answers are.
 
Si55AMG said:
I found good stuff on youtube too and am making about $4000 per day :p ive been trading 1 week :p nice work
Click to expand...

i reckon you should take about 50% of your daily profits and buy some expensive on-line courses. They really work and within no time you'll be able to stop messing around with these small amounts and move up to the big time,
The Bramble and I usually have a weekly competition to see who is the first to get to $100,000.
I thought I had the record with 11:55 on a Wednesday morning in February but last week he beat me with some overnight action and got his 100k just as the market opened.
(frankly speaking I think he cheated 'cos we all know it's possible to move the markets in the direction you want during the overnight session 'cos the volume is less)

anyway, keep up the good work, by the way did you sign up for those indicators I told you about in my email newsletter ? I know they seem expensive, but you have seen your investment paid back 1000% !
 
To all those who PMd me asking for the indicators I mentioned in an earlier post I have located them, but they need tweaking for the current market conditions.

If any of you could let me know which way the market is definitely going to go next, please let me know and I'll be able to tweak them accordingly.
 
@ Si55AMG can you share those links?

@TheBramble, can you post indicators for both up/down market? We have no idea if the market is going up or down.
 
muna580 said:
@TheBramble, can you post indicators for both up/down market? We have no idea if the market is going up or down.
Click to expand...
Well, no, not really.

No idea which way the market is going? That's rather stumped me then.

Perhaps we should see if we can find a way to determine if it is possible to establish which way the market is likely to move first before we start thinking about indicators on the shorter timeframes? What do you think?
 
Right Tony,
start of a new week.
Let's not have the usual bet, it's getting a bit boring - to spice things up first I suggest the winner is the first to take a drawdown in excess of 50k, then make it back and go on to claim the 100K profit for the week - what you reckon mate, game for a challenge ?
 
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