I am trying to add a few instruments that I can trade around london open. I am in Australia and that is the time i can trade. In the long run i want to be a portfolio trader/ invester.
My setup is trading intrady for now so i can learn as much as possible. I do not scalpe the markert.
I have a 50000 and 5000 volume chart. I look at the daily chart and then try to see what the market will do today.
Depening on the instrument. I have tick charts ranging from 55t to 2000t i compress the chart as much as possible and watch the price action at key levels.
I try to trade the setups form larger time frame, but enter the trades in small time frame. I am trying to incorporate the princile that i read for the book. Making money in the Forex, written by Ryan O'keefe. It is one of the best books I have read. Chjapter 2 talks about Principles of a Bargain Hunter. in this way i can get out of wrong trade with mim loss.
when i trade american market at that time its like watching paint dry. too slow for anything. I prefer more volatile markets. I can think and work fast so reacting to markets is not my weekness. I do not overtrade, My self control is good. touch wood. i prefer contracts that have a atr of 80 - 100 ticks a day.
Soon I am plaining to start a thread, where I want particepents to contribute on how they look at things, that wont be a how to trade thread, it will be a brain storming thread for price action trading and see what everyine is doning. that way I believe is, we can learn from each others ideas. I know we cannot copy people and I do not intend to.
what i want is that thread to have soo many ways of looking at market and understanding it.
what do u guys think.
Last edited by Lawrencejude; March 19th, 2015 at 06:01 PM.
Reason: spell errors
* As you can guess, there are some exceptions (just like with the E-minis). Some brokers only demand fractions of Eurex margins
for the account - an invitation to risk; others have very thin volume in these products and rather act prohibitively. You choose ...
Last edited by choke35; March 20th, 2015 at 04:17 AM.
Reason: Remark with *
The following user says Thank You to choke35 for this post:
FESX and FDAX are the two most liquid indices in Europe. Although the FDAX spread may often be a couple of ticks wide, it moves hundreds of ticks in a day and the contract is large. Slippage should not be a problem for a small trader, unless you are trying to scalp for a couple of points.
On average my slippage is 1 tick (0.5 points) for small market orders on the FDAX.
Overnight margin - yes you will need 23,000 or so per contract + whatever extra cushion your broker might require. Intra day margin may be less, depends on the broker. But anything much less than that is under capitalised.
What, in your list, i trade are the euro ( 6E ) and the 6B (GPB )
The DAX is very fast but spread is too high for me ( personal ) , you can gain good but loosing is also a good option
I trade also the ES ( you can make good trades around and just before lonen time, the CL and gold GC, all in Londen time.
You have a bit to see for yourself what's best for you
Here is a screenshot of the spraed in the dax, personaly i would not trade that!!