If you trade the Eurostoxx using a real trading screen, there is no slippage. Don't use the charting service order entry screens, they're to slow. You're waiting forever to get your order in the market. Trading with a broker is even worse. Best time to trade is 730am EST to the close.
Dow Jones STOXXSM 50 Futures (FSTX) Dow Jones Euro STOXXSM 50 Futures (FESX) Contract Standard The Dow Jones STOXXSM 50 index (for Dow Jones STOXXSM 50 Futures); The Dow Jones Euro STOXXSM 50 index (for Dow Jones Euro STOXXSM 50 Futures). Contract Value EUR 10 per Dow Jones STOXXSM 50 and Dow Jones Euro STOXXSM 50 index point. Settlement Cash settlement based on the final settlement price, payable on the first exchange trading day immediately following the last trading day. Quotation In points, with no decimal places. Minimum Price Movement 1 point, representing a value of EUR 10. Contract Terms The three nearest months within the cycle March, June, September, December. Last Trading Day The third Friday of the expiration month, if that is an exchange trading day; otherwise, on the exchange trading day immediately prior to that Friday. Trading ceases in the expiring futures contract at 12:00 noon CET on the last trading day. Daily Settlement Price The last-paid price of the trading day; or, if the last-paid price is older than 15 minutes or does not reasonably reflect actual market conditions, then Eurex will establish the official settlement price. Final Settlement Price The average price of the Dow Jones STOXXSM 50 and Dow Jones Euro STOXXSM 50 index calculations performed between 11:50 a.m. and 12:00 noon CET on the last trading day. The final settlement price is determined at 12:00 noon CET on the last trading day. Trading Hours Dow Jones STOXXSM 50 index: 9:00 a.m. until 05:30 p.m. CET. Dow Jones Euro STOXXSM 50 index: 9:00 a.m. until 08:00 p.m. CET. Margin 3,100 Euro (Eurex) www.eurexchange.com
I trade with IB, the commission is 4 Euro per RT. Execution is very fast and in contrast to trading with Globex the stop orders are held on the Eurex servers No panic...
I am assuming that one can trade one contract of the ESTX50 the entire day.. w/o worrying about slippage and good fills. Also.. what time frame of candlesticks would you guys recommend if your objective is to scalp between 10-15 points per a trade. -MIKE
Mike, I use 1,3 and 5 min charts. When it's getting slower i move up on the timeframe. I use the ATR to decide that.
Shortly after the open I use 1min, but after the first 45 min, I use 2min, because you see everything but less confusing noise. I also use 10 EMA and 20 EMA with BB.
Thanks for the reply on which broker to use. I am currently with IB. I still need realtime charts. Thinking of e-signal. Any other you can recommend? The time zone is perfect as I am in South-Africa.
Will the DJ Eurostoxx 50 be tradable tomorrow Mon. Aug 26?.. due to London holiday? If so.. will there be any liquidity? --MIKE