paweldobkowski wrote:aliassmith wrote:After chatting with dojirock he mentioned something about trading the Nikkei. I decided to do a little test for a friend and see if it's tradable.
I traded 4 contracts and made $400 in 50 minutes so it met my criteria of $100 per contract. Watch out for the first couple minutes at the open its a blitz. After that it slows down. Pick your spots and be patient.
in my prop days i used to trade Nikkei during the night
there was a possibility to stay overnight with senior traders at the office
i moved to different city ---- i had nothing to do so i stayed few times
i remember some pretty wild moves in that market
but trading for like 20 hours straight was DEVASTATING
i developed some kind of aversion ---- i dont like it that much ever since
nevertheless its great market
thats why people wanted to pull those fkn 20+ hours stunts
meanwhile im really enjoying the CL
closed for +15
commodities are awesome
heres a fun fact!
around 80% of coal mining costs come from the oil usage
so if they sell coal at a good price
they go to oil and buy at (almost) any price
and they sit on it until expiry and wait for devilery ---- they are not profiting from speculation
so there are loads of money being just thrown away into the market
you can win AND they can win at the same time
i dont play that
i dont analyse the market in that manner
but its something to keep in mind
moves in commodities can be very clear sometimes
because someone just needs that commodity
good thing to pay attention to is the VWAP
trader contracting commodities most of the time gets paid in relation to daily average price
he must beat the market basically
this is so yale man
i just yaled yo asses
I'm all about the "Yale"
Also that crude is nice but you just can't get that size like the s&p. Easily pull $1000 a day with 10 contracts in crude. I really like the flow CL and NQ have.
I think my friend will like that Nikkei but I was having issues getting 4 contracts filled in one swoop. That could be the size sweet spot.