Hmmm....maybe.
What I think you are seeing, is the much more consistent and predictable trading in the futures markets.
I think this is because by far the majority of traders are professionals in the futures markets (professionals don't do things randomly, they usually enter at a predictable level, and exit at a predictable level). Which makes for a chart where the trading is very consistent, and much more clean to draw, and therefore the story the chart tells, is usually much easier to read.
You have probably read me post (on this thread), that a certain chart is a bit messy, and I comment that it is probably due to a higher (than average) level of retail traders being involved in that particular stock. Retailers often buy because of FOMO, or chase a stock at levels they should not, or try to catch a falling knife...and then they sell at what appear random levels, or for no apparent reason.......all of which leave the chart looking quite ragged, with levels that are not very consistent.
I trade CFD's a bit using the futures charts, but really.....to do it properly.....you will need a proper futures account with an American broker (like Infinity), which is a little more expensive per point (than CFD's), but also has some advantages to balance it out.
I baulked at going the whole hog, as the time difference (for six months of the year in particular), is terrible....although I did consider moving to WA, to help with the time issues.
For me, at this point in time, I really like the futures charts, but only trade (scalp) them when there is a really high probability set up, using my CFD account.
cheers
- Forums
- General
- Wyckoff trading method
Hmmm....maybe. What I think you are seeing, is the much more...
-
- There are more pages in this discussion • 701 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)