Snowman's Eurostoxx 50 Journal

Quote from Now is Now:

Hi there Snowy,

I was asked sometimwe ago if i could develop a strategy for FES day trading...did not have a lot of time,but came up with something...

The interested person 'walked away' before I finished what I was attempting to do...

FES is a bitch...but I did get something together and it does not have any MP conditions...the concept is to identify high % trades and ensure the average loss is LESS than the average profit.

I don't know what your personal profit goals are, but you stops made me 'sqirm'...:D Jan 20 need not have happened!!

If you are trading real money...what kind of leverage are you using?

You have been very candid in your thread, so I would like to help you if i can...I am not a FES trader...just ES and 6E

NiN
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Indeed, Jan 20 should not have happened. After Jan 20 I switch from my real acct to sim. On my real account I was trading 1-2 contracts max. Funding my account for much larger level of trading is not a problem as I have some cash on the side. What is most important is to become consistant and to have NO days such as Jan 20 ever.

FESX may be a bitch, but trading the YM/ES at night was difficult. Anyway, I think at the end of the day, a good trader should be able to make switches and still succeed.

I have been v honest as I want people such as yourself to read my journal and hopefully post some constructive criticism that will help me improve. The market is tough, there is no holy grail and at the end of the day I feel most people need to do the screen time and figure out their own path and trading with a methodology they feel comfortable with.

Any thoughts and help are much appreciated!

Thanks!
 
Yty was a good day. Was a losing day but a great learning day!

Trade 1: Looked to take a long off of yty's POC which was 2966. Price hit that number and bounced off it. I was in at 2970 with my stop at 2966. Like yty, price dipped, tested that bottom, took me out, and then pushed up. So while I lost -4 pts I now realize that these trades are good oppties but timing needs to be worked on. Perhaps I should enter on the test? Maybe give it more room Perhaps I should be looking for the minimum pullback to enter? Thinking out loud. Something I am working on. At the end of the day, it was probably just too much haste to get in, to not miss the trade. There was evidence there that I probably should have waited a few bars. See the previous bar. Price tried to go up and then closed at the open, near the low. This bar had high volume so there was definitely a battle between the longs and the shorts and the shorts at this bar won that battle. This bar should have been the 'heads up' to wait...

Trade 2: At the time, I thought since trade 1 failed then an opposite position should work. I took a short but was stopped out later in the day for -3 pts. I probably should have just scratch.

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Trades so far:
1/18: W:2 L:1 E:0 Won: +9 Lost: -2 Profit for day (in pts): +7
1/19: W:4 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
1/20: W:2 L:6 E:0 Won: +3 Lost: -28 Loss for day (in pts): -25
1/21: W:0 L:2 E:0 Won: 0 Lost: -8 Loss for day (in pts): -8

1/24: W:1 L:1 E:0 Won: +10 Lost: -6 Loss for day (in pts): +4
1/25: W:1 L:2 E:0 Won: +10 Lost: -8 Loss for day (in pts): +2
1/26: W:0 L:2 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
 

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2 Trades today for +6 pts. It really should have been 3 but missed a really nice short.

Trade 1: Market moved down on the Japan downgrade. I shorted but it was too early @ 2963 and was quickly stopped out at 2967. -4pts. I really should have waited for a trade setup around yty's POC. A few bars later the market gave an excellent sell oppty off of yty's POC at 2973 but the line drawn was wrong!!! It was a few points higher so I didn't take much notice until I missed the signal. Then I was "What!" Why is that line there? It should be lower ?!?! Arhhh!!!!!!!!!!

Trade 2: Market reversed to levels at the beginning of day and around the POC. I decided I would wait for a confirmation before taking a position. At the time I was thinking mostly short, but as price blew higher it was obvious what was resistance would now be support. I got in long at 2980 and exited at 2990 a few minutes before the jobless claims and durable goods. Just in time too as market then pulled back! + 10 pts.

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Trades so far:
1/18: W:2 L:1 E:0 Won: +9 Lost: -2 Profit for day (in pts): +7
1/19: W:4 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
1/20: W:2 L:6 E:0 Won: +3 Lost: -28 Loss for day (in pts): -25
1/21: W:0 L:2 E:0 Won: 0 Lost: -8 Loss for day (in pts): -8

1/24: W:1 L:1 E:0 Won: +10 Lost: -6 Loss for day (in pts): +4
1/25: W:1 L:2 E:0 Won: +10 Lost: -8 Loss for day (in pts): +2
1/26: W:0 L:2 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
1/27: W:1 L:1 E:0 Won: +10 Lost: -4 Loss for day (in pts): +6
 

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Looks like I'm done for the day and for the week. I thought I'd made some nice profit today but price action just turned into a mess and came up with nothing.

First trade was a short off of yty's POC. Started to work but then pushed up to my stop. Shorted at 2998 with 2 pt stop so -2pts.

I figured this was a strong move so I'll take a long. Got in at 3001. Nothing happened so decided to scratch before US GDP news. Out 0 pts.

On the announcement, the market had alot of volume and price recorded a new high of day. Got in long on the bar after that at 3000. No followthrough. Perhaps I should have waited a few more bars? Anyway, it hit my stop for -4pts.

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Trades so far:
1/18: W:2 L:1 E:0 Won: +9 Lost: -2 Profit for day (in pts): +7
1/19: W:4 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
1/20: W:2 L:6 E:0 Won: +3 Lost: -28 Loss for day (in pts): -25
1/21: W:0 L:2 E:0 Won: 0 Lost: -8 Loss for day (in pts): -8

1/24: W:1 L:1 E:0 Won: +10 Lost: -6 Loss for day (in pts): +4
1/25: W:1 L:2 E:0 Won: +10 Lost: -8 Loss for day (in pts): +2
1/26: W:0 L:2 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
1/27: W:1 L:1 E:0 Won: +10 Lost: -4 Loss for day (in pts): +6
1/28: W:0 L:2 E:1 Won: 0 Lost: -6 Loss for day (in pts): -6
 

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Hi,
i have traded with FESX and OESX now for few months but my broker don't have trading system for trading, so I do trades by calling to their desk. It's not very handy so I would like to hear from you that do you have a broker who can offer an electronic trading platform to trade with FESX and OESX?

Thanks,

Kaaos
 
Quote from Kaaos:

Hi,
i have traded with FESX and OESX now for few months but my broker don't have trading system for trading, so I do trades by calling to their desk. It's not very handy so I would like to hear from you that do you have a broker who can offer an electronic trading platform to trade with FESX and OESX?

Thanks,

Kaaos
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Go to www.tradestation.com

They are electronic brokers who also have an advanced chart program. That is what I use. You can trade FESX and DAX. But I don't know about OESX.

What is OESX?
 
If I was a little careful I would have finished the day profitable :(
In any case, I finished with a small loss and that's ok. As long as I continue finetuning, I'll start becoming more consistant.

Market dropped and I looked for a long oppty off of old POC (marked in yellow) but didn't like my chances as there was little indication at that time that the drop would stop as volume increased on push down.

On first pullback I tried to get in short. But instead of waiting for a good pullback to yty's POC I jumped in as I saw the upthrust (on little volume though). While trying to get a good position I shorted another contract which I pretty quickly took out for +1. The remain contract was stopped out for -4.

I was convinced this would drop, so I waited for a better signal. Got it but was also taken out for -5. This should have been my first trade of the day. So instead of being down only 5 pts, I was down 8. Need more patience.

Resistance became support and I got in long but it was a little risky so I scratched it when I saw 2 red candles.

Got in long again and made a quick 5 pts. I could have made some more but I was a little humbled from my earlier trades and also afraid this wouldn't work out too.

Lessons for day are: a) Have more patience, b) scratch it if you see its not working. (Last week there were a few times I should have scratched and I didn't. That would have added some points which I lost for nothing).

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Trades so far:
1/18: W:2 L:1 E:0 Won: +9 Lost: -2 Profit for day (in pts): +7
1/19: W:4 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
1/20: W:2 L:6 E:0 Won: +3 Lost: -28 Loss for day (in pts): -25
1/21: W:0 L:2 E:0 Won: 0 Lost: -8 Loss for day (in pts): -8

1/24: W:1 L:1 E:0 Won: +10 Lost: -6 Loss for day (in pts): +4
1/25: W:1 L:2 E:0 Won: +10 Lost: -8 Loss for day (in pts): +2
1/26: W:0 L:2 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
1/27: W:1 L:1 E:0 Won: +10 Lost: -4 Loss for day (in pts): +6
1/28: W:0 L:2 E:1 Won: 0 Lost: -6 Loss for day (in pts): -6

1/31: W:2 L:2 E:1 Won: +6 Lost: -9 Loss for day (in pts): -3
 

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OESX = Euro stoxx 50 index options. My trading strategy is be on long FESX futures and at the same time hedging my long futures by selling call options (out of the money) with different maturity months. So far it has been working quite well. So i cash when futures go up, and at best also cash some premiums from options, as index is not going linearly up...
 
Quote from Kaaos:

OESX = Euro stoxx 50 index options. My trading strategy is be on long FESX futures and at the same time hedging my long futures by selling call options (out of the money) with different maturity months. So far it has been working quite well. So i cash when futures go up, and at best also cash some premiums from options, as index is not going linearly up...
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You are not really hedging, since if the market drops you could lose quite a bit. Anyway, check out Interactive Brokers. They should be able to take care of you if Tradestation can't.
 
So far today, I'm up +3 pts.

Trade 1: Long off of yty's POC accompanied by a spring (1st yellow arrow) and indicator divergence. Got out at +6. I could have entered again at the low of the candle showed by 2nd yellow arrow but I was happy with my trade to risk it.

Trade 2/3: Shorted when the double top appeared to fail. It didn't work off the bat so I scratched for +1. I gave it another shot on next candle but again scratched at even. I was a little undecisive here, and decided I wanted a clearer oppty.

Trade 4: Had an upthrust on candle before the news. News came out and no immediate reaction. So 2 mins later I shorted 3000. Then it looks like everyone woke up and decided to buy :( So -4 pts.

Lesson for the day: Wait at least 5 mins after the news before firing a trade.

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Trades so far:
1/18: W:2 L:1 E:0 Won: +9 Lost: -2 Profit for day (in pts): +7
1/19: W:4 L:0 E:1 Won: +6 Lost: 0 Profit for day (in pts): +6
1/20: W:2 L:6 E:0 Won: +3 Lost: -28 Loss for day (in pts): -25
1/21: W:0 L:2 E:0 Won: 0 Lost: -8 Loss for day (in pts): -8

1/24: W:1 L:1 E:0 Won: +10 Lost: -6 Loss for day (in pts): +4
1/25: W:1 L:2 E:0 Won: +10 Lost: -8 Loss for day (in pts): +2
1/26: W:0 L:2 E:0 Won: 0 Lost: -7 Loss for day (in pts): -7
1/27: W:1 L:1 E:0 Won: +10 Lost: -4 Loss for day (in pts): +6
1/28: W:0 L:2 E:1 Won: 0 Lost: -6 Loss for day (in pts): -6

1/31: W:2 L:2 E:1 Won: +6 Lost: -9 Loss for day (in pts): -3
2/01: W:2 L:1 E:1 Won: +7 Lost: -4 Loss for day (in pts): +3
 

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