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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.
The initial and maintenance margin levels sent by the commodity exchanges apply to positions held overnight. The day trading margin applies to positions closed out before the end of the daily session
It calculates the answers to all of your previous questions - also for all other Eurex products.
Broker requirements regularly* won't differ much from Eurex.
Besides you can test some (simple) scenarios what happens to your margin requirements
when volatility changes.
Good trades.
* 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 ...
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!!
I usually only trade once or twice a day in the DAX and hold for most of the day, so bid-offer spread is less of a concern for me. My average PnL is 40-50 ticks.
I'm not very familiar with the scalping style - do you not enter on limit orders?
What's your hit rate? Are your wins and losses the same size?