Estx50

I trade the opening (9h00->9h45). I usually have 5 trades in this time period. My stop is 4 pts. The time frame is about 2/3 min. I trade 1 contract.

Basically, I enter on a momentum based on charts/tape reading. The patterns that I play are :
- buy on retracement / sell on a dip
- breakout (in fact I often anticipate a BO when i buy on pullback/sell on a dip)
- buy a bottom / sell a top (I play those rarely because I've been caught too many times doing this). It's easier when we have double or triple bottoms/tops.

I expect between 4 and 10 pts by trade but had more (15-20 pts) sometimes. If a trade doesn't move much after the entry I scracth it. I rarely have my full stop touched.

I buy at ASK+1 and sell at BID-1. I average a 0.5 point slippage but that's the price to pay to always be executed.

I've been trading ESTX50 since 01/02. I lost money until June. September is my third consecutive positive month. I average about 150€ net/week.

Hope it helps.

 

I am going to watch the action in ESTX 50 starting next week, I will be using QT and IB . I am looking for websites that have daily and weekly charts for ESTX50.

 

between 12 and 16 points is the higher risk I take and this I only take for trades that I expect to move for around 30 minutes to three hours. generally the profits that are aimed with this risk level are between 10 to 50 points. But this kind of trades make only 15% of my trading the rest 85% is much shorter with a much lower risk tolerance. And one more thing to be said: I only trade with 12 to 16 point risk during the morning hours.. never in the afternoon when american markets open because then the ESTX50 is usually much more volatile and demands a different trading approach. Two classical things I trade with the 12 to 16 point risk is when the market opens with a large gap then I play it either as a closing or a runaway gap. And for those interested in the ESTX50 the problability is usually higher right now that a gap closes instead of a runaway setup. The way to go is to get a feel for the Risk/Reward per trade and then you will know much better when what kinds of plays you can do. And another thing that I always integrate in my trading is to exit a position when it moves for a to long time sideways even if the stop loss hasn't been hit. So that's the factor time that is also being calculated in my risk management.

 

Hi,
Why don't you use IB for the ESTX50?
And who is a good choice for trading this future? Would you use IB for e-minis or other US futures?
Thanks

 

ESTX50 Future Mistrades

 

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Fat Fingers strikes again !

 

What softwares do you use to analyse Eureo stoxx...
I heard of Traderforce.com whuch is not bad
CQG but a bit expensive compared to what there is in the US
and esignal combined with ensign...

 

Too bad most US based Chart companies do not carry reliable euro stoxx data. CQG must be dreaming if they think they are going to get 500 dollars per month from a daytrader.

 

I used them during 3 months a year ago. They developed a good site/product in a very short time.
The data feed is provided by S&P Comstock. It is good.

The only bad point is that their product is web based.
That means you have to go through Internet Explorer. It's slower (to use) than a standalone product.

Worth to give a try. The minimal subscribing period is 3 months. You can quit after that without any problem.