Dax Daily by robinho

[r0b1nh0pkr]

good morning everyone.
I´m short 9975 SL 9986.

The Dax EW Counting is still the same, the MoB stays at 9984.

 

[r0b1nh0pkr]

 

[postman]

good morning everyone.
I´m short 9975 SL 9986.

The Dax EW Counting is still the same, the MoB stays at 9984.

 

[r0b1nh0pkr]

hey postman, what is wrong?

 

[paszkman]

MOB broken?

 

[r0b1nh0pkr]

and out -11
MoB is broken, breakout systems turned all long. I´ll give it a try as well 9985 no SL.

This whole trend was not made for me

 

[Emkjær]

fast move down now!

did you go long?

 

[postman]

and out -11
MoB is broken, breakout systems turned all long. I´ll give it a try as well 9985 no SL.

This whole trend was not made for me

"I´ll give it a try as well 9985 no SL."

and

I'll give it a try sounds like theres no reasoning behind your entry.
No stop loss ????? Say no more.

 

[r0b1nh0pkr]

For me, the subwaves in the 1min chart looked like corrective patterns, but it is sometimes very difficult to find out. But in fact the MoB is broken, there is no doubt.
this could be a possibility:

the e6 could be still running as well, but i dont think so because it is running for a very long time now over the upper channel. MoB for that is at 10176. I will save this option, but not as main.

The FDAX showed me early today that a breakout happens:

 

[r0b1nh0pkr]

@postman, why do i need a stop right now? if i leave the computer, i will place a short at the stop lines of my breakout system, dont worry.

 

[r0b1nh0pkr]

MDAX is working well for me. the MDAX is really so much easier to trade in my opinion:

 

[postman]

@postman, why do i need a stop right now? if i leave the computer, i will place a short at the stop lines of my breakout system, dont worry.

Its a risk reward thing.
You should know where you expect the Dax to go to, you should know what your R:R is so you should set your stop and walk away. Otherwise your making it up as you go along.
When you see the Dax creeping towards your stop theres always the temptation to move it further away which is a physical act, so you must take positive action to change your strategy. If you have a mental stop an the index creeps nearer, its so tempting to do nothing, (rabbit caught in the headlights) and that way leads to ruin.
Just a few basics.

 

[r0b1nh0pkr]

@postman, if I trade with my breakout system, it generates stoplines for me, the profit factor of this system is really good, what means, the risk reward factor is okay if i trust the stop of the stoplines. When I´m watching that, i can react immediately. When I leave my computer, i place a stop under the stoplines. Mostly i create my targets and stops with EW, but actually i´m not sure what should be the main option. As you have seen, my EW forecast was wrong for the past few days.

 

[r0b1nh0pkr]

 

[r0b1nh0pkr]

Im out for a while, put my stop at 9960
cu later

 

[r0b1nh0pkr]

-36 yesterday
I´ve taken my time to create a new EW counting for the Dax:

 

[Emkjær]

I'm thinkin' it's gonna glose the gap first

 

[r0b1nh0pkr]

dont know yet. Today i´ve made a break, just tried to improve my trading system. For me, as a trader who is trying to catch the big moves, it is very hard right now. The only big move in the past days i´ve missed because i was way too focused on elliott wave counting. This method is the best - when your plan works - otherwise you´ll miss a big move like i did.
I still make my points in the MDAX, because there is nearly always movement.
Probably tomorrow it will be the same, i think we have to wait till the european central bank make their statement on thursday. Be patient, the big moves will come.

 

[r0b1nh0pkr]

Good morning

As expected, nothing happened...just a dip under the 9900. In the meantime, i´ve integrated a trend strength indicator in my system.

Long 9925 SL 9908

 

[r0b1nh0pkr]

...love it -17 -_-