FTSE, DAX, DOW Trading Ideas and discussions

This is a discussion on FTSE, DAX, DOW Trading Ideas and discussions within the Indices forums, part of the Markets category; Originally Posted by Sonicscooter Question for both Jess and Tokyojoe, what size stops do you use on the DAX, i ...

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Old Mar 12, 2015, 1:25pm   #17
 
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Question for both Jess and Tokyojoe, what size stops do you use on the DAX, i don't really trade it that much and you both look at longer time frames to me.

Shane.
depends on what timeframe I am trading ....normally I trade greater then 30 minutes so both my target and stops are wide... I trade if there are opportunity and setup for 60 points or more... and look for stops 30 to 40 points..

Based on bar range... I feel, less than 30 points is no safe ....unless you are absolutely spot on hitting right at top or bottom of the setup...
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Old Mar 12, 2015, 1:38pm   #18
 
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Question for both Jess and Tokyojoe, what size stops do you use on the DAX, i don't really trade it that much and you both look at longer time frames to me.

Shane.
Hi Shane, my stops are tight (maybe too tight) 10 to 15 points purely because I always wait for the churn out, always, therefore I am entering with a very specific entry price in mind, I have a simple rule of thumb : enter, correct ? Yes ? Stay, enter correct ? No ? Exit

I've sat with large drawdown & it just doesn't suit me, I'm a day trader & I want to know fairly quickly if I'm in or out, I might lose 10 or 15 points, but I frees me up to look for next potential entry.

Some may say this is only for experienced guys because you can quickly get suckered into the grinder, that's why if I'm wrong...I pause
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Old Mar 12, 2015, 1:40pm   #19
 
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Jessi_trader started this thread And you know whats gonna happened if DAX closes below that dotted red line on Firday..

I am watching till Friday 4 PM...
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Old Mar 12, 2015, 1:41pm   #20
 
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Hi Shane, my stops are tight (maybe too tight) 10 to 15 points purely because I always wait for the churn out, always, therefore I am entering with a very specific entry price in mind, I have a simple rule of thumb : enter, correct ? Yes ? Stay, enter correct ? No ? Exit

I've sat with large drawdown & it just doesn't suit me, I'm a day trader & I want to know fairly quickly if I'm in or out, I might lose 10 or 15 points, but I frees me up to look for next potential entry.

Some may say this is only for experienced guys because you can quickly get suckered into the grinder, that's why if I'm wrong...I pause
tokyojoe, what timeframe you trade....
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Old Mar 12, 2015, 1:44pm   #21
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Yep, i sort of agree with both, as you are both taking different view points for different reasons, i trade the FTSE, happily, but the DAX is a pain, its a work in progress still...
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Old Mar 12, 2015, 1:47pm   #22
 
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tokyojoe, what timeframe you trade....
Hi Jessi, I use the confluence of 3 time frames for Dax, depending on how fast price is moving usually 30 min/5 min & 1 min, always keeping an eye on overall trend with higher TF over 30 mins, but I think once you've established the overall it's better to stick with the 30 mins down (day trade scenario only)

3 charts 3 TF''s 30 min down to 1 min
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Old Mar 12, 2015, 2:15pm   #23
 
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Jessi_trader started this thread the setup is now completing... and a potential short setup coming....
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Old Mar 12, 2015, 2:35pm   #24
 
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Potential long setup... might fetch 30 - 40 points.....watch 5 minutes chart for entry..
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