Help - EuroStoxx 50

Russ, are you still trading the stoxx, I have been watching the stoxx50 and dax for a few months.
 
Russ, are you still trading the stoxx, I have been watching the stoxx50 and dax for a few months.

Hey Jetus, im still watching it a little but stopped trading.. thing called margin... ooops.
I have to work on my trading plan, over trading and no doubt a poor trading plan has taken its toll. But im still watching it...

How are you going with it?
 
Hello Russell,
I know exactly what you talking about. I opened up a practice account for two weeks and then starting trading the ES with multiple contracts. Like a drunken sailor, (who just discovered alcohol) I decimated over half of my retirement account, before stopping. For a year now I have been practicing using fibonacci retracements, and watching leading indicators like the $tick, trin, and the bank sectors to trade the ES in a practice account, quite effectively. I am in the US in the eastern time zone, and discovered the market was a lot calmer and safer to trade in the early morning hours before big news hit. So I have been consistently making making money trading the ES and Euro futures by watching the DAX and stoxx50. I think in about 6 months to a year, I'll be ready to trade the ES during the day again. What time zone are you in?
 
Hello Russell,
I know exactly what you talking about. I opened up a practice account for two weeks and then starting trading the ES with multiple contracts. Like a drunken sailor, (who just discovered alcohol) I decimated over half of my retirement account, before stopping. For a year now I have been practicing using fibonacci retracements, and watching leading indicators like the $tick, trin, and the bank sectors to trade the ES in a practice account, quite effectively. I am in the US in the eastern time zone, and discovered the market was a lot calmer and safer to trade in the early morning hours before big news hit. So I have been consistently making making money trading the ES and Euro futures by watching the DAX and stoxx50. I think in about 6 months to a year, I'll be ready to trade the ES during the day again. What time zone are you in?


Hey thats pretty awesome, sounds like your back on track. Im in Australia so the early morning ES and Euro suit me perfectly. Ive not tried to much with the DAX,, as in watched it.. More concentrating on the set ups etc.. but my plan is bad and some set ups are questionable! Im looking into opening range set ups etc and its proving a little difficult, I thought i had it... more work to do...

Sounds like your doing great though, very awesome ..
I have MSN, yahoo and skype.. if your ever around and wanna chat..
I still watch Stoxx and ES, I've stopped trading them due to margin and thinking of moving to currency as i can practice and eventually trade mini lots to get back on my feet... Sometimes i think another opinion is not so good, other times its great to have a second set of eyes or someone to say... thats dangerous!

Hope alls cool with you!
 
Russell; The item that has me most intrigued right now is the daily and weekly pivots. This is where the major turns are made. Try it, take a ES chart, put the daily pivots on it. Then take another chart and put the weekly pivots on it. Look at the reversals, 7 / 10 times they happen at these levels. It becomes really powerful, (90%) when there is a a weekly and a daily that line up closely, and or when a 50 or 61% fibonacci line match up to one of these levels.

And sure enough, this morning at 3.45am eastern time the ES touched the weekly R1 at 1099 and moved to the daily pivot, and met a lot of sellers there, and reversed!!

Wow, it's like someone just turned on a light for me! I feel that an extra edge you could have would be looking at the pivots of the majors like the Stoxx, DAX, Nasdaq, and ES, and with practice each of these should clue you in and make a case for an upcoming reversal.
 
I do watch those levels, daily and weekly pivots, along with some market profile stuff, Ive found the weekly pivots to be really quite good, my problem is the really shot term stuff. I get into a choppy market and can see good entries for short trades as well as long trades.. I see a bias for lets say a short... IE.. the long trade has poor risk reward and the short side is good R/R.. So I'll look to take the short trade .. itll fake me out, stop me out.. I think im wrong.. take a few trades to get on the thing.. you get the picture, a mess... im working on that though.
Im getting a grasp on things and have a good idea of great levels to trade off.. Just the choppy stuff i have to get my head around.

Awesome that lights gone off for you! Very cool.
The Daily, 60 minute and 15 minute charts show great support resistance points and similarly, if 2 or so match up its very powerful.

Im watching Stoxx at the moment and with the Dailies trading at the high side of the consolidation and the way the candles are forming we could be in for a break higher... Im sure ES is the same,,,
We just need to break 2940 to maybe see 3038 (ust a 50% fib ext.. I use that as a rough and 38.2 / 61.8.. just as a rough.
 
Im watching Stoxx at the moment and with the Dailies trading at the high side of the consolidation and the way the candles are forming we could be in for a break higher... Im sure ES is the same,,,
We just need to break 2940 to maybe see 3038 (ust a 50% fib ext.. I use that as a rough and 38.2 / 61.8.. just as a rough.

Russell, I will start to watch the Stoxx more carefully. Just setup my account so I can trade/papertrade it for a while as well. I have only limited to watching the ES and Eurusd futures. For a long time (almost 6 months) I was so shell shocked from being stopped out that a $75 stop out would be a tramatic event, and really upset me. But I had to laugh with my wife, how pathetic it all was, I have bought and sold millions of dollars of real estate each year, but a $75.00 stop out would make me freeze up and not let me get back into another trade, usually for the rest of the day!!
There are two bank accounts, the one you put cash in, and an emotional bank account, that when it gets depleted, your done for. I am just now getting to the point that I can see a stop out as a positive. I got stopped out of the Euro 3 times in about an hour, I just shut down my Euro dom, shrugged my shoulders, and forgot about it, and made 2/3 good trades on the ES.
 
Russell, I will start to watch the Stoxx more carefully. Just setup my account so I can trade/papertrade it for a while as well. I have only limited to watching the ES and Eurusd futures. For a long time (almost 6 months) I was so shell shocked from being stopped out that a $75 stop out would be a tramatic event, and really upset me. But I had to laugh with my wife, how pathetic it all was, I have bought and sold millions of dollars of real estate each year, but a $75.00 stop out would make me freeze up and not let me get back into another trade, usually for the rest of the day!!
There are two bank accounts, the one you put cash in, and an emotional bank account, that when it gets depleted, your done for. I am just now getting to the point that I can see a stop out as a positive. I got stopped out of the Euro 3 times in about an hour, I just shut down my Euro dom, shrugged my shoulders, and forgot about it, and made 2/3 good trades on the ES.

I've been trying to write a good trading plan and find a methodology that suits.. I think im close, its the risk thing, like you say, its amazing how just $75 kills you. I can take the stop its kinda the reasoning behind the trade and trade management. I tend to see way to many trading opportunities. try a few, get stopped then miss the bigger run.. Hopefully i can sort out this issue before to long...
Your right in closing your DOM after a few failed trades.. I've started doing the same thing. 3 attempts and out for the night.
Stoxx follows ES pretty well, though watching ES and Stoxx together either warned me of a stop out before it happened or faked me out of a good trade.

Paper trading some ideas at the moment and researching more, tough to find a method to trade by that suits me I have to say.
 
I've been trying to write a good trading plan and find a methodology that suits.. I think im close, its the risk thing, like you say, its amazing how just $75 kills you. I can take the stop its kinda the reasoning behind the trade and trade management. I tend to see way to many trading opportunities. try a few, get stopped then miss the bigger run.. Hopefully i can sort out this issue before to long...
Your right in closing your DOM after a few failed trades.. I've started doing the same thing. 3 attempts and out for the night.
Stoxx follows ES pretty well, though watching ES and Stoxx together either warned me of a stop out before it happened or faked me out of a good trade.

Paper trading some ideas at the moment and researching more, tough to find a method to trade by that suits me I have to say.

Russ,
paper trading is like playing paintball, and trading with real money is like somebody shooting real bullets at you. It has it's place but the real learning starts with with real money.

The biggest thing that got me back on the horse was not so much papertrading but market replay. I searched high and low for a good program that would let me replay the market with historical data. Then I was able to watch my setups unfold, and if actually increase the speed of the replay 3, 4, 5, 10 times, instead of watching thorough hours of consolidation.

On the subject of stopouts, and then the market running in your direction, I am convinced that you have to be a multiple lot trader. (but I'm months away from there). Precise entry is almost a skill as difficult as picking tops and bottoms. With a larger stop, you give yourself an opportunity to add to defend the position. But it is sooo dangerous if you are not confident with your setups. I have got caught with a intraday reversal, and been out the equivalent of many just regular stopouts.

So the pursuit for me in the last few months has been trying to understand the reversals. Which is what lead me to the daily and weekly pivots. Another area that I spend a lot of time on was on "tape reading", watching the order flow. On an instrument like the ES, it is too difficult to watch the time and sales window, so I spend a lot of time trying the MarketDelta.com software, which tracks the ask vs the bid trades. To sum that up, I just found a great site of a guy that watches the cumulative total of the asks and bids for the day, and this is how he is able to read large reversals. Go to youtube and watch some of his videos. Fulcrum Trader. I actually joined his room today, and set my software up to mimic the cumulative delta indicator, it was very very good.

In summary, the leading indicators, DAX, Stoxx, Pivots for the overnight markets has been great. I wake up at 3am locally and trade a much calmer market until 9:30, and then watch the grownups play with the fireworks during the day. I want to grow up and do what they do.
I am using the $tick, trin, breadth, vix, advancing/declining issues to monitor the market direction during the day. This is a skill that I was able to hone with replaying the market over and over again.
I am really hopeful that I can learn about the bid and ask (volume) effectively from Fulcrum Trader. Then next I want to learn about COT data, and hopefully I will be able to do some larger swing trades. Have you read reminisces of a stock operator? The real wages are earned with the big moves. Going in and out is great, but it keeps you from realizing the 50-100-150 point moves made over a large period.

Thanks for listening and letting me spill my guts out here! I don't use im, but I have a chat feature on my gmail, would that let us communicate?
 
Russ,
paper trading is like playing paintball, and trading with real money is like somebody shooting real bullets at you. It has it's place but the real learning starts with with real money.

The biggest thing that got me back on the horse was not so much papertrading but market replay. I searched high and low for a good program that would let me replay the market with historical data. Then I was able to watch my setups unfold, and if actually increase the speed of the replay 3, 4, 5, 10 times, instead of watching thorough hours of consolidation.

On the subject of stopouts, and then the market running in your direction, I am convinced that you have to be a multiple lot trader. (but I'm months away from there). Precise entry is almost a skill as difficult as picking tops and bottoms. With a larger stop, you give yourself an opportunity to add to defend the position. But it is sooo dangerous if you are not confident with your setups. I have got caught with a intraday reversal, and been out the equivalent of many just regular stopouts.

So the pursuit for me in the last few months has been trying to understand the reversals. Which is what lead me to the daily and weekly pivots. Another area that I spend a lot of time on was on "tape reading", watching the order flow. On an instrument like the ES, it is too difficult to watch the time and sales window, so I spend a lot of time trying the MarketDelta.com software, which tracks the ask vs the bid trades. To sum that up, I just found a great site of a guy that watches the cumulative total of the asks and bids for the day, and this is how he is able to read large reversals. Go to youtube and watch some of his videos. Fulcrum Trader. I actually joined his room today, and set my software up to mimic the cumulative delta indicator, it was very very good.

In summary, the leading indicators, DAX, Stoxx, Pivots for the overnight markets has been great. I wake up at 3am locally and trade a much calmer market until 9:30, and then watch the grownups play with the fireworks during the day. I want to grow up and do what they do.
I am using the $tick, trin, breadth, vix, advancing/declining issues to monitor the market direction during the day. This is a skill that I was able to hone with replaying the market over and over again.
I am really hopeful that I can learn about the bid and ask (volume) effectively from Fulcrum Trader. Then next I want to learn about COT data, and hopefully I will be able to do some larger swing trades. Have you read reminisces of a stock operator? The real wages are earned with the big moves. Going in and out is great, but it keeps you from realizing the 50-100-150 point moves made over a large period.

Thanks for listening and letting me spill my guts out here! I don't use im, but I have a chat feature on my gmail, would that let us communicate?

Live market playback is very cool, Im using esignal for play back, seems ok..
Ive looked at market delta a little and a few other similar things, unfortunately you can get a similar thing for FX with volume...

im not familiar with gmail, I have yahoo if thats a similar thing.
[email protected]

Cheers
 
Hello Russell,
I am really enjoying the cumulative ask bid indicator. Over the past year I have removed all indicators from my charts, and have watched price action. This really seems to back up price action, and lets you look "under the hood" of what is going on. After having watched it over the last 3 weeks, and having replayed it over several months now, it seems to be very very powerful, to tell you participation in a potential reversal off of a pivot.
Would be happy to show you some examples if you like.
I am also trying to study cot (commitment of traders) data, as well. This data could really back up what direction/trend the market is taking, and any large potential reversal coming. It is interesting that the next really large swing moves happen every 2 - 3 weeks in the indices..
 
Thats actually pretty cool, Ive looked ay the site quite a while ago and put it on the back burner then clean forgot! Great for longer term stuff thats for sure. And rather interesting info for currency is available. Shame all the volume indicators dont work well with forex...
Every 2 to 3 weeks sounds about right to me, Ive noticed similar things on smaller time frames. 30 minute charts would have 2 30 minute periods quite often.
My biggest problem is the need to be in the market, Its a dangerous problem as impulse trading tends to be the order of the day just to often.
Im working on some set ups to stop this from happening so the trades are controlled and planned properly. Very difficult I have to say. I have a few ideas but fleshing them out is confusing and annoying.

Happy New Year, hope christmas was awesome!
 
I trade stoxx along with the bund. Use MSN so send me a PM if you want to chat about the markets.
 
Today's Charmer Charts daily outlook for Euro Stoxx:

Euro Stoxx broke above 2730 towards our target of 2776/78 which contained the
upside.
Below 2740 should see the market test good support at 2734/32 with buyers attempting
longs here and adding down to 2725. Look for a bounce back from here
today but stops will need to be activated below 2720 as this should lead to further
losses with 2708 then the next target. Any further losses could test 2695 which
should be an excellent buying opportunity today.
Bulls need to see a break above that 2776/78 area for a move to 2795 on the way to
trend line resistance at 2819/21 today. Sellers will see this as their opportunity to
force a ceiling in prices today so watch for profit taking and the risk of the market
tumbling lower.
 
Why don't you try a combined trading strategy?
I mean the DJ EuroStoxx50 is not really a secret that is inversely correlated to the German Bund. Try to use a combined approach taking opposite positions. it could work !!!
 
Top