Best EUREX S&P Substitute? - futures io
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Best EUREX S&P Substitute?


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Best EUREX S&P Substitute?

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  #1 (permalink)
HitTheBid
Dallas, TX USA
 
 
Posts: 23 since Jun 2018
Thanks: 36 given, 22 received

2 years ago, I had a job at a law firm that allowed me to work an 11-7 shift, which gave me the freedom to trade the S&P NY open on a daily basis for 4 years.

Just as I began to become profitable, extremely good in fact, I was laid off from my job - I took this as an opportunity to try & make the transition to trading full time, however I self sabotaged and blew my account (a significant amount for a 22 y/o), due to the stress of having to rely on this income.

The psychological aspect of having a job & being able to trade was paramount in my capital growth. I have been actively focusing on the S&P Futures for 6 years now, since the age of 18. With my current 9-5, I tried to make the transition to trading currencies which I have become fairly good at trading, especially the 6b & 6j - however nowhere near the comfort level nor steep equity curve I know I'd have with the S&P.


Long story short:

During the past year I have adapted my sleep schedule to allow myself to sustain trading the London open Mon-Fri. (2am-5am); Currencies have a different personality to indicies, let alone their own respective quirks in price action/patterns, etc.

While the 6b & 6j will stay on my radar, I need index futures to break free from the rat race..

I've drilled it down to - 1. FESX Eurostoxx 50, 2. FDAX, 3. FTSE 100

If any S&P traders can enlighten me with their opinion on which of these they prefer, I'd much appreciate it.

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  #3 (permalink)
HitTheBid
Dallas, TX USA
 
 
Posts: 23 since Jun 2018
Thanks: 36 given, 22 received


The FTSE seems to resemble S&P's price action & the way I analyze it more than the DAX or FSEX.

Does anyone trade the FTSE? I am surpsied that I cannot find more people doing so, especially those with day jobs.


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  #4 (permalink)
 tr8er 
Europe
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
 
Posts: 480 since Jan 2017
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During the European-session, I would recommend the German Bund FGBL and the 6E and if it should be an equity-futures, your 3 mentioned products are the best in my opinion.

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  #5 (permalink)
HitTheBid
Dallas, TX USA
 
 
Posts: 23 since Jun 2018
Thanks: 36 given, 22 received


tr8er View Post
During the European-session, I would recommend the German Bund FGBL and the 6E and if it should be an equity-futures, your 3 mentioned products are the best in my opinion.



Interesting. Never thought about trading the FGBL, seems to be popular. Thanks for your reply


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  #6 (permalink)
 tr8er 
Europe
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
 
Posts: 480 since Jan 2017
Thanks: 35 given, 428 received

Yep, I guess it is worth to watch, very interesting instrument with huge volume (atm 3x the ES volume), it is the classic instrument institutions and prop firms trade during the European session.

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  #7 (permalink)
HitTheBid
Dallas, TX USA
 
 
Posts: 23 since Jun 2018
Thanks: 36 given, 22 received


tr8er View Post
Yep, I guess it is worth to watch, very interesting instrument with huge volume (atm 3x the ES volume), it is the classic instrument institutions and prop firms trade during the European session.



Iíve been looking the Bund charts over, and I am extremely glad you pointed me in that direction.. Very technical, clear price action, clear areas of supply & demand.

Do you trade this product? If so what is your experience with it?


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  #8 (permalink)
HitTheBid
Dallas, TX USA
 
 
Posts: 23 since Jun 2018
Thanks: 36 given, 22 received

Just as an update, I've been trading the Bund (FGBL) alongside the Yen(6J), Euro (6E) & Gold (GC) as well as Eurostoxx / Dax (FESX/FDAX).


Last week there was very clear risk-off reversals setting up alongside the asset classes & while shorting the European indicies, I entered a couple contracts short the S&P's and was able to let that one run 56 points into the closing bell.

Feeling very much back in the flow


Thx again @tr8er

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  #9 (permalink)
 tr8er 
Europe
 
Experience: Advanced
Platform: TradeNavigator, BookMap
Trading: ES, CL, 6E, 6B
 
Posts: 480 since Jan 2017
Thanks: 35 given, 428 received

Hi HitTheBid,

nice to hear that it works for you, great job!

p.s.: since this week the EUREX-futures have extended trading hours: they already start at 6:00 pm CT, but I guess at the moment it is not worth to watch, it will take a while till there will be some volume from Asian and US traders

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  #10 (permalink)
HitTheBid
Dallas, TX USA
 
 
Posts: 23 since Jun 2018
Thanks: 36 given, 22 received



tr8er View Post
Hi HitTheBid,

nice to hear that it works for you, great job!

p.s.: since this week the EUREX-futures have extended trading hours: they already start at 6:00 pm CT, but I guess at the moment it is not worth to watch, it will take a while till there will be some volume from Asian and US traders

I had no idea, many thanks for the reply!

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  #11 (permalink)
 Binkius 
Taipei/Taiwan
 
Experience: Beginner
Platform: IRT/Bookmap
Broker: S5
Trading: FESX, NQ
 
Posts: 33 since Apr 2016
Thanks: 31 given, 54 received

FESX moves very similar to ES before the USA RTH open. My trading strategies that work on ES and NQ work on FESX (but not FGBL (equity indexes vs. interest rate product).

However, FESX amplitude and velocity are very, very, very slow. You have to have so much patience. After ES RTH open, FESX is heavily influenced by the American markets.

FESX, volume profile-wise, is different from anything else. Because of the heavy US market influence which may contribute to the fact that FESX transacts most of it's volume in the 10-min around its RTH close and then continues to trade considerable volume until the USA RTH close, accurate volume profiling involves some really convoluted time periods. If you don't account for the effect of the USA RTH session, then every FESX open is a massive gap opening with a misleading VPoC.

I've stopped trading FESX since the new hours started in December.

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  #12 (permalink)
HitTheBid
Dallas, TX USA
 
 
Posts: 23 since Jun 2018
Thanks: 36 given, 22 received


Binkius View Post
FESX moves very similar to ES before the USA RTH open. My trading strategies that work on ES and NQ work on FESX (but not FGBL (equity indexes vs. interest rate product).

However, FESX amplitude and velocity are very, very, very slow. You have to have so much patience. After ES RTH open, FESX is heavily influenced by the American markets.

FESX, volume profile-wise, is different from anything else. Because of the heavy US market influence which may contribute to the fact that FESX transacts most of it's volume in the 10-min around its RTH close and then continues to trade considerable volume until the USA RTH close, accurate volume profiling involves some really convoluted time periods. If you don't account for the effect of the USA RTH session, then every FESX open is a massive gap opening with a misleading VPoC.

I've stopped trading FESX since the new hours started in December.



This is good info, thank you a lot.


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