Thursday, August 16, 2007

I did daytrade short with futures for index PX50.

Today was one of the most bloody day at Czech Stock Exchange I remember. Index PX50 dropped 4.12% but at some point of the day the loss was 5.5%. Shortly after open I short market with December futures contract for PX50 and closed position at the bottom of day chart with profit around 4.5%.
That was hedging of my long position. Let's where we go tomorrow, I am looking for some support level.

Comments

5 Responses to "I did daytrade short with futures for index PX50."

Anonymous said... August 19, 2007 at 9:36 PM

Hi Vlada,

What trading platform you are using to daytrade EU markets?
(I'm professional trader in US also trying to expand into EU but can't figure out direct access platforms for EU markets with reasonable commissions).

Thank you in advance.

Mark.

Vlada, Czech Republic said... August 20, 2007 at 8:15 AM

Hello Mark,

for EU markets I've two Czech brokers accounts. BUt as far as I know for you (US investor) you can access many EU markets with Interactive Brokers.

Regards

Vlada

Anonymous said... August 20, 2007 at 10:00 AM

Hi Vlada,

Thank you for quick reply.

I'm aware or IB international package, but their commissions structure is too expensive for a typical day trader (about 10 trades a day or more). I would prefer fixed per share pricing rather than 0.1% of trade value. Or may be it is a common pattern for EU to charge such high commissions? At least you are trading with Direct Access platform?

Regards,
Mark.

Vlada, Czech Republic said... August 20, 2007 at 3:41 PM

Mark,
I don't daytrade EU stock so much. I have one czech broker with reasonable prices (Fio)mostly for trading Czech futures (1contract for 1EUR). They have access to Czech, Polish, Hungarian, German and US markets. Their platform is also in English. XETRA commission are also percentage 0.15%. On Czech stock Exchange it has also percentage with max commission around 30EUR.

Anonymous said... August 21, 2007 at 6:48 AM

Thanks Vlada.

Probably EU markets still not widely accessible from commissions perspective as US markets. Hope they will in the near future. 1EU commission for a future contract sounds very reasonable, but 0.15% for a stock is a killer for a day trader.

Thanks again.
Regards,
Mark.