Another two markets I like to touch on when it comes to “other markets to daytrade beside the mini SP 500” are Crude Oil Futures and Gold futures.

More than a few similarities between the two markets.

They are both volatile, can move VERY fast. I have seen some very large moves happen in matter of minutes if not seconds. The “fear & greed” factor really plays a role in these specific two markets.

Both have active trading hours starting with Far East trading around 10 PM est all the way to the next morning until about 3 PM est. Good volume generally speaking but not close to the mini SP or ten year notes. So you may see some slippage on stops but the volume is more than enough to trade size.

Each tick on gold is $10, so every dollar move =$100 against you or in your favor. Crude is similar, each tick = $10. One full $1 move = $1000.

Both markets “traded what I consider average behavior” , the range on gold was $11 or = $1100 wide using one futures contract. Crude ranges today was less than $1.95 or about $1950 between hi/lo.

I like using overbought/ oversold indicators on the two markets as well as using range / Renko charts.

If you never traded these markets before, I highly recommend exploring in simulation/ demo mode. get a feel for the explosiveness, volatility, personality for a few weeks before trying in live mode.

As always, any questions, please feel free to email me.

Two charts from today’s session of gold and crude for your review below: