ES 1 pt=$50 3 pt move=$150 Ave. Volume: 2- 3 million contracts traded DAX 1 pt=25Euros ($40 USD) 5 pt move=$200 USD 10 pt move=$400 USD 15 pt move=$600 USD 20 pt move=$800 USD 25 pt move=$1,000 USD Ave. Volume: 200,000 contracts traded CL 1 pt=$1,000 2 pt move=$2,000 Ave. Volume: 200,000 to 400,000 contracts traded DAYTRADE Margins used: ES=$300 per contract DAX=2,000Euros ($3,176.00 USD) CL=$3,300 Contracts traded per actual trade: ES=1-10 DAX=1 CL=1 Hours Traded: Only during regular trading hours 9:30am-4:00pm New York time Daytrade Strategy: "High Speed" trading...scalping points per each contract **Focus on Price Action only...daily support, resistance, pivot numbers...NO indicators...they only lag... **Fundamental analysis considered (news events etc.) $$$ USD Net Profit Goal per Day Trading: $200.00-$2,000.00 USD Why these 3 contracts: *Huge moves intraday *Huge volume traded *Huge profit potential available *Huge news available on all 3 contracts NOTES: As of this journal start July 2, 2008...ES, DAX following in an opposite manner, the CL... REQUEST: Please share your insights and thoughts on daytrading the ES, DAX or CL
stops are used...only used in the form of: 1-"mental" (manual) stops 2-"max $$$ loss amount" function activated and position is exited by market order... NO 'point' stops are ever used...
I look for DAX divergences in relation to ES as US markets open...also...'spikes' either way in the CL are great entries for long or short DAX, ES...