S&P, Dow, and Nasdaq Position Trader

Quote from Pekelo:

2 questions:

1. Since the indeces tend to move together most of the time, how do you decide which futures to play?

2. Once you were long one index and short the other. Wouldn't that be an almost flat position, because they move together? (or was that a particular time when they didn't?)
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1) Yes, the indices tend to move percentage-wise (Dow and S&P mostly) so I tend to go to the futures with the most volume (this case S&Ps), but tend to drift into Dow and Nasdaq if there are particular stocks in the index that will move it a lot.

2) If I were long 1 index and short another, it is a hedged trade and hoping to profit off of a percentage difference move in the trade. The one time I had that kind of trade on in this journal was with the Short NQ and long ES. My though behind that was to do with Cisco earnings being too much put into the afterhours rise in NQ. Obviously I was wrong, so I closed at a loss.
 
Just closed the 10 ESU8 longs from 67.25 to sell at 1280.00, for profit of $6,375.00 total.

Also shorted 5 ESU8 at 1280 with target of 1272.00.

Running profit is now $53,325.00.
 
Quote from futuresRX:

Just closed the 10 ESU8 longs from 67.25 to sell at 1280.00, for profit of $6,375.00 total.

Also shorted 5 ESU8 at 1280 with target of 1272.00.

Running profit is now $53,325.00.
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Just added to short at 1288.00 and filled on 5 contracts. New average is 1284.00 being short 10 ES. Target is still 1272 and will add more at 94.00 and probably stop myself out if we get to a close around 1300 within the next week.
 
Quote from futuresRX:

Just added to short at 1288.00 and filled on 5 contracts. New average is 1284.00 being short 10 ES. Target is still 1272 and will add more at 94.00 and probably stop myself out if we get to a close around 1300 within the next week.
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I am surprised you didn't hit the 1272 target last night, because ES did go there.
 
Thanks for the comments all.

I did get out 5 of them at 1272 today and another 5 at 1270, so bringing a profit of 13 points altogether from my average short at 1284.00, or $6,500.00.

Running realized profit is now $59,825.00.

Limit order to buy 5 contracts in at 1266.50 looking to get filled for a target of 1273.00. We're right at a 1264ish support level that I am looking to hold for the short while. Also looking to get short above that 1273 target again.
 
Long 5 at 1266.50. Planning to get out around 1278 before the end of the week. Will add at 1260, 1251, and then stop myself out on a close below 1245.
 
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