Best Futures Indicators In ThinkOrSwim

[Lone Wolf]

Hi there, useThinkScript Community,

Brand new to the forum here posting my first question.

A little background about myself and what I am looking for.

I already have all the basic textbook knowledge of how the markets work and the instruments to trade. At this point, I am looking for a futures day trading strategy with the following criteria.

1. Only trades around the open and close of RTH (not really interested in looking at the screen for 8hrs straight), preferably just the first and last hour of RTH.
2. No overnight exposure
3. Has a positive edge
4. Can help me build a career as a consistent and profitable day trader.

Thanks!

 

[TrueDepth]

Hey. I would also like to tell a little about myself and what I am looking for as well. This looks like a good thread for it.

I would like a method for picking winning lottery numbers. It should have the following criteria.

1. It should be easy.
2. It shouldn't require me spend too much money in buying tickets. I ,don't like risk.
3. It should make me a lot of money.
4. It should allow me to quit my job, and give me a career as a millionaire instead. Working a job ****s.

Can you guys help me with this?

Thanks.

 

[Lone Wolf]

@TrueDepth Perhaps I am asking for too much, eyh?

 

[Alex]

@Lone Wolf check out the index futures sub forum you might find some useful info there https://usethinkscript.com/forums/index-futures.10/

 

[Lone Wolf]

@Lone Wolf check out the index futures sub forum you might find some useful info there https://usethinkscript.com/forums/index-futures.10/

Thanks man.

Yeah maybe a better post should have stated "looking for some indicators to help me developed a strategy around day trading futures".

 

[BenTen]

Some suggestions:

• https://usethinkscript.com/threads/...railing-stop-and-fibonacci-retracements.2486/
• https://usethinkscript.com/threads/es-trading-strategy-on-thinkorswim.987/
• https://usethinkscript.com/threads/ez-trend-scalping-for-gold-futures-in-thinkorswim.2240/

 

[Lone Wolf]

Some suggestions:

• https://usethinkscript.com/threads/...railing-stop-and-fibonacci-retracements.2486/
• https://usethinkscript.com/threads/es-trading-strategy-on-thinkorswim.987/
• https://usethinkscript.com/threads/ez-trend-scalping-for-gold-futures-in-thinkorswim.2240/

Thanks, what is this blackflag indicator?

 

[BenTen]

@Lone Wolf Check out the thread. See the videos we have on our YouTube channel.

 

[Lone Wolf]

@Lone Wolf Check out the thread. See the videos we have on our YouTube channel.

So I just check out some videos on the YouTube channel. Does he do any live trading? So far, all I have seen is him talking about the trades he supposedly took.

 

[stockula]

Hi guys. After trading a small options account for two months, I've proven to myself that I can finally stop losing money. After two months of trial and error, my account balance is slightly above the initial balance. I'm happy with that considering I've blown accounts this size repeatedly in the past. This time was different (Thank you ORB Study and SwingArm)

I was curious about MES for a while. I began to paper trade it and now finally looking into getting my feet ***. If there are any experienced futures traders or scalpers here, would you mind sharing the best set of indicators/setup that I can add to my chart ?

My go to setups are always old school; draw triangle formations, look for range breaks, and watch for support and resistance at high volume price levels.
Otherwise, any input is appreciated.

 

[BenTen]

There are a couple scalping indicators for futures instruments on our forum, check them out:

• https://usethinkscript.com/threads/ez-trend-scalping-for-gold-futures-in-thinkorswim.2240/
• https://usethinkscript.com/threads/index-futures-scalping-system-for-thinkorswim.3330/
• https://usethinkscript.com/threads/half-trend-scalper-indicator-for-thinkorswim.3305/
• https://usethinkscript.com/threads/es-trading-strategy-on-thinkorswim.987/

 

[stockula]

Thanks @BenTen I'll definitely check them all out

 

[Mr.Wick]

Any suggestions on day trading the futures strategies or if any members are part of a group I'd like to join and hopefully learn. Happy Holidays to all and stay safe and well.

 

[BenTen]

Are you currently in our Discord server? We have a dedicated channel for futures trading on there. Here is the link: https://discord.gg/HQVZUxB

A few existing threads on our forum worth checking:

• https://usethinkscript.com/threads/index-futures-scalping-system-for-thinkorswim.3330/
• https://usethinkscript.com/threads/ez-trend-scalping-for-gold-futures-in-thinkorswim.2240/
• https://usethinkscript.com/threads/es-trading-strategy-on-thinkorswim.987/

More search results: https://usethinkscript.com/google-search/?q=futures+strategy

I hope that helps.

 

[scott69]

I would recommend starting out by trading on paper money until you have a system that is 1) profitable, 2) you understand, 3) fits into your general investing philosphy, knowledge and abilities. You should also probably start out trading e-micros with "real" money. Start out with simple systems and indicators and build on that as you get more skilled at trading. No "get rich quick" ideas. Watch other skilled traders and learn from them. Check out @BenTen suggestions.

 

[optionssaj]

Looking for a couple of good/reliable day trading indicators for /ES, /NQ. Currently have Trend Reversal which is good, but want to add 2 more for better entries and exits. Thanks.

 

[_Merch_Man_]

Try this thread:

https://usethinkscript.com/threads/es-trading-strategy-on-thinkorswim.987/

 

[scott69]

Just giving my humble opinion, but trading is a very personal situation, and what works for one trader may be totally inappropriate for the next. There are hundreds of indicators and systems available. Also, some traders have spent dozens of years developing their systems and favorite indicators, and it would be unfair to them to spend minutes asking for their hard work. That is not to say that they shouldn't try to steer you in the right direction, though. My suggestion right off is to spend as much time as possible reading and studying all of the valuable books out there on trading. Even after trading for decades, I still pick up a "Dummies" book as a refresher, and I find them great resources for beginners. Try Day trading for Dummies, etc. Lastly, I have developed a brief outline (work in progress) to share with younger traders starting out in this "business."

Trading System Development Outline by Scott69 of UseThinkScript

Trading Plan
Treat It Like a Business
System Objectives & Goals - Most Important
What Will Be Traded
Single or Multiple System (i.e. Trend, Range, Breakout, Reversal, Etc.)
Type of Trader, i.e. Day Trader, Swing Trader, Longer Term Investor, Etc. - Important

The System
Study All Indicators Available and Evaluate Each For What is Does, and How it fits Into Your Plan and Goals
What Indicators, Patterns and Data to Use - Be Careful of Indicators that Basically Do The Same Thing - Unnecessary Complexity
Setup
Filters
Entry Triggers
Position Sizing
Exits and Stop Loss Limits
Profit Objectives
Keep a History of System Development

System Implementation
Mechanics & Which Platforms to Use
Start Trading - Paper Trade to Experiment With Your System
Testing
Different Options and Optimizing
Improvements & Enhancements

Analysis
Tracking Performance
Trading Journal - What Works, What Definitely Does Not Work
Comparison of Performance
When a System Starts Under Performing your Expectations, What Has Changed?

Final Note - Simple is Always Better - Trade Only What Works, No More, No Less

Each of us has to go through their own journey, and this is not the "right" way, just one way to go about successfully trading. It worked for me.
Scott

 

[Topas]

Hi there, useThinkScript Community,

Brand new to the forum here posting my first question.

A little background about myself and what I am looking for.

I already have all the basic textbook knowledge of how the markets work and the instruments to trade. At this point, I am looking for a futures day trading strategy with the following criteria.

1. Only trades around the open and close of RTH (not really interested in looking at the screen for 8hrs straight), preferably just the first and last hour of RTH.
2. No overnight exposure
3. Has a positive edge
4. Can help me build a career as a consistent and profitable day trader.

Thanks!

There are some guys doing wonderful trades on futures /ES market on usethinkscripts Discord / channel .... (Future Trading )... they discuss plan and call out potential trade ... you might want to check it out ...and get it going ... just a suggestion

 

[mactheknife]

What is your favorite Futures Trading Setup/Indicators