Emini S&P(ES), DAX(Dax), Crude Oil(CL) "High Speed" Daytrading Journal

Discussion in 'Journals' started by increasenow, Jul 2, 2008.

  1. ES

    1 pt=$50

    3 pt move=$150

    Ave. Volume: 2- 3 million contracts traded


    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


    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)

    Contracts traded per actual trade:


    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


    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
  2. 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...
  3. 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...
  4. No...the DAX and ES do not track each other like the YM and ES do...thoughts?..agree?
  5. VIX is considered...Volume is not...watch for the DAX to move after the ECB decision tomorrow...