hello guys, seems like everybody is day-trading the index futures and sitting behind their screen all day. well for me I get cross-eyed and my head get sore....... the futures journals seem to be about day-trading as well. is anybody trading the index futures using EOD data with trades lasting more than a day?
Hi vetten, I think most ET members I know are swing trading or position trading. However, they also day trade. I mainly day trade but do swing trade and position trading of the Index Futures. Swing Trading for me is usually via the 15min up to the 60min chart. Position Trading for me is usually via the 60min chart up to the weekly chart. Also, if you give ET a closer inspection, there are a lot of traders that use the daily charts (rth or all session) for their market analysis even though they may be day trading. I can see this in the charts that are constantly being posted here at ET via the futures charts or their respected index charts. Mark (a.k.a. NihabaAshi) Japanese Candlestick term
thank you pil and nihaba for your posts. I should have put my question across a lot better: traders who trade for the intermediate and longer term and look at the weekly and daily charts. I dont think there are any journals for these types of trades
i trade EOD/weeklies. Most of my positions will last from between 1 week to 3mths. Profit potential is huge, with good leverage i can make up to 50-100% of my account in a single big upside or downside move. That being said, trading EOD, and weeklies will expose you to having to use larger stops, and that fact that your trading a longer time fractal means that profit opportunities will be limited compared to day trading. quick "scalps" will be almost completely out of the question if you want to trade alonger time fractal Day trading is probably a better way of learning how to trade the market. generally a position trading account will need to be funded much more than a daily account, and will probably also incur bigger drawdowns. Also the number of trades that you will be doing will be limited, meaning that you are more likely to overtrade if you are inexperienced. IMO overtrading is what kills position traders most of the time, sitting on your hands is a big part of the game when trading in a time frame that runs for weeks. from my experience, stops are probably the hardest part of position trading. as your trading EOD as they need to be wider, and hence loss potential is greater. You will need to be able to filter high risk/ low reward opportunities out very well, as taking just a few will most likely result in large ddowns simply due to the fact taht wider stops need to be used
Agree that there aren't any journals like that. Yet, you can always be the first one to start such. If you do, I'll participate if your journal is setup for participation. Mark (a.k.a. NihabaAshi) Japanese Candlestick term "Volatility Analysis is a doorway to consistent profits."
very difficult to start a position trading jornal as there are very few trades in the year compared to a day trading jornal. i make maybe 20trades a year per market that i trade. certainly not enough material tos tart a journal
doesn`t matter aussie if trades are not taken very often. if the position trader should have patience, surely the journal follower can do the same, otherwise they`re better off to follow a day-trader`s journal. can we expect your first post in that regard - would be interesting.
Not exactly what you asked for (not always EOD), but my Verisimi journal is longer term position trading of the ES, the closest to your request. This year so far averaged .5 ES per day...
He obviously is interested in reading that type of journal (he started this thread to find others with similar like trading style). I still think when someone wants to see that type of journal...they should start one and set it up for participation. My point is that if you get a bunch of traders actively discusing their 20 or less swing trades or position trades.... The journal becomes very active instead of having just one trader talking about his/her trades. Simply, journals are easy to start and 20 trades per year by a bunch of traders participating is plenty to keep it active.... For example, pretend there's 6 active traders posting their +20 swing trades or position trades in one journal and discussing the markets in between the trades. You'll have a very active and popular journal. Once again, the key is to setup the journal for participation and not like some journals where someone seems cold or evasive in their journals. P.S. If vetten really wants to see that type of journal...he'll start one. Mark (a.k.a. NihabaAshi) Japanese Candlestick term