From Craig Cobb at Trade with Precision:
With over 9000 products to trade through CMC Markets it can be a little overwhelming to decide on what exactly you are going to trade. Often people will stick to one market like ASX stocks or FX, some people even just trade one single product such as gold or crude oil. Personally I think it is important to have a number of markets to trade as I don’t want to trade just one, equally I don’t want to trade and have to manage 9000 products!
So what is the solution? Well, each individual trader will have their own answer to that however I will give you a bit of an idea as to how I keep my eye open for opportunities on multiple markets.
I love trading FX markets because they are open 24 hours a day, trend well and many tend to have tight spreads. So therefore it is a pretty simple list for me to make up based on that information. In the chart below I have an example of a list that one might consider if the brief was to trade high volume and low spread pairs and crosses. Of course there are many more that you could add, first you need to know what spread you consider tradeable and then just simply add it to your list.
I also love to trade some of the more volatile and high volume commodities. Once again it is just a matter of working out what you wish to trade based on some rules, in this case high volume and volatile commodities is what I am after. Here is my list:
The final list I will share with you is my global index trading list. For me trading these global markets doesn’t just come down to if I am around to trade it. For example I would happily have the major US indices in my list despite not being around while the US market is open. I will trade these markets on higher time frames usually and still catch some great moves. It is a little more personal creating an index list because of the time of day, spreads and style you wish to trade. Index markets often have very tight spreads like the German 30 as an example has only a 1 pip spread which means traders will often go all the way to the 1 minute to trade. Here is my index watchlist:
Now this post could be lengthy with me covering all the stock markets so I won’t do that; the main thing to be aware of is what exactly you want from the markets you are trading, how you wish to trade them, what spreads you consider to be acceptable for your style and when you will be around to trade them. Once you come up with this information it will take a little time to come up with your lists that work for you, once set up you have them forever.
I hope this helps you all to consider other markets and find more top quality trades.