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In this journal I will trade the future FESX (ESTX50 index / Euro Stoxx50).
The strategy is based on the 9:00-9:30 bar (the initial balance = IB).
Several backtests show a positive result, but there are many other things that can be taken into consideration to improve the results. During time I hope to be able to improve it. Any suggestion or input is appreciated. If somebody has a list of for instance day types or gaps on the FESX, that would be awesome.
The trade starts at 9:30am CET if:
a> IB is long, open-close min. 8 points with an SL of 4 points, on Wed/Thu/Fri
b> IB is short, open-close min. 6 points with an SL of 9 points, on Mon/Tue/Wed/Fri
The trade ends at 10:30am CET or when it hits SL.
Special thanks and credits to big inspiration @GFIs1 and to @Reettrader who brought up this idea.
This is a journal with live trading posts since 2012!
Hi everybody
Thanks BigMike for the invitation to your journal competition - I am taking the rope :-)
For my trading three main points were essential and important
1) Plan your trade and …
2> @Reettrader shared with me that he used the IB on the FESX for his trades. I offered to run some backtests on it and he was OK with me starting a journal here about it. In a later stage I also would like to run backtests on other instruments as I'm totally new on FESX. I have mainly traded DAX and NQ.
The higher volatility also comes with higher risk, and the volume on FESX is much higher than FDAX. Two more reasons
Indeed, as @Deetee said this simplest of systems was born studying the eurostoxx future, so it seems logical to use that to develop it. Also, I like less volatility and thus points if that means less risk (and still some profit).
Good point and I suppose everyone's risk tolerance is different. (I wish my risk tolerance was higher)
I've grown used to the crazy volatility of the Hang Seng and feel that even the ES is tame in comparison....now if the FESX had a 1/4 point tick like the ES with the same tick value I'm assuming the volatility would pick up and with the liquidity would be an "amazing" product to trade in the euro timezone.
Hi Deetee,
I really look foward to tracking your journal and thank you for sharing. How many ticks are there in 1 point on FESX? I tried a search, but no luck. Thanks in advance
