DAX Intraday - December

[bonsai]

looking at the daily candles, today could be the 6th day on the
trot we have closed inside the range set up on Dec 4th

are the bollies getting tight or what ?

 

[madasafish]

no problem

DAX tends to follow S&P 500 and Nasdaq.. I watch all 3 together

 

[blash]

madasafish,

Are the S&P and Nasdaq quoted from 8:00am-14:30 GMT, trading hours for Dax.

Is there any volume quoted and how liquid is it.

Cheers

 

[no-problem]

madafish

but they are on diffrent trading hours. There is no real time good movement on s&p and nazdaq when dax open.

 

[lockstock]

No problem,

Mad is right- we mainly follow the S&P - the Nas has lead the recent rally from March to present day.


The futures are running all the time the DAX is running- it tends to ignore the European indicies.

 

[madasafish]

no problem

S&P futures trade 24 hours/day.

I start monitoring at 8am .

Occasionally Nasdaq moves a lot out of US trading hours and DAX has a high % of tech stocks....

And S&P contains techs as well (Microsoft and Intel) so S&P is a good general guide..

 

[no-problem]

thank you all

 

[bonsai]

Evening star for the day at the moment.

Seems to be a lack of confidence still ?

 

[madasafish]

I expect we will drift. At 1.30 there are US reports and at 2.50Michigan sentiment. We will either popndrop or dropnpop.. imo

 

[tradesmart]

I have no lack of confidence that this is a short - in fact have gone short @ 3900........

 

[bonsai]

it seemed noteworthy as it hit its head on my resistance line from 3597.
that often produces a top.

 

[Baruch]

tradesmart,

A short? Why? And where do you place your stop?

 

[tradesmart]

Livermore - bearing in mind that 'confidence' does not equal a 'dead cert' stop is at 3910....

Trade was entered on 3 positives:- double-top/ND on RSI/sideways US futures...

Trade is currently in profit.....

Regards

 

[bonsai]

its yum yum time

 

[Crassula]

Hi Everybody

I'm a newbie, recently moved from trading the rather dull footsie to the Dax and yes I have had my head taken off on quite a few times now, infact so much so, I thought I would practice on the emini's for a little while and try and absorb the nature of the Dax.

I don't know anyone else who trades, so it's great to see all these points of view and people who made the same misakes that I have.

If anyone has any advice it would be much appreciated, does everyone trade the cash markets?

 

[bonsai]

Hi Stilllosing

I trade the Cash now.
Giving advice is a tricky business as you say you are a newbie
and there is so little about your trading on your profile ?

But first things first ? Get your head screwed on. You must avoid
those horrors at all costs !

Second thought is that it probably isnt going to help if you keep moving from one index to another. Each has its own characteristics and you need to learn what they are. ?

Thirdly, how about changing that name ?
Everytime you post a message, its gonna remind you of past disasters ?

anyway, welcome to T2W.

 

[Crassula]

Hello Bonsai

Thanks for your reply. Mmm, my trading style, in theory It should be swing trading, but in reality I would now call it momentum trading as my habit seems to be to trade break outs or even worse fast moving parts of the markets like after US figures etc.

Dare I say it all started a few years ago with Mr Stanzione!! Who 'advised' me not to read books when I asked him what Stochastics were.

After reading a few books, I had a severe case of indicatoritis , now I've come back to basics, support, resistance trendlines a few MA's and a stochastic.

What I'm trying to do, now that I have catagorised my silly habit of momentum trading, which I think is called chasing the market proffesionally, is plan a trade and let the market come to me and see what it does when it gets there, oh yes and try and I do say try and decide where to put my stop loss before I place the trade and in theory I should keep my head in tact.

Oh yes and how do I change my name?

Thanks again

 

[bonsai]

Perhaps it would be best to settle on one style of trading ?
many styles work but not for everyone.
Select one that you are comfortable with and then gear everything to that.
Commit yourself to it.
then I would suggest reading as much as you can about that type
of activity.
Reading can only broaden yor knowledge.
We are naturally selective in what we absorb, so discard that which doesnt build on what you already know. ?

How many trades per day do you want to execute ?
Have indicators that give you that frequency of signals ?

"most indicators dont work most of the time."

"indicators are mainly entry signals. After that you are on your own."

So interpretation is key.

Change your name ?
Yes, I wasn't joking.
The emotional baggage from previous disasters makes it difficult to trade objectively.
I think you may have to email Sharky and he will set it up for you.

The first rule of the road is Survival. !

hope it goes well.

 

[bonsai]

it had another go at my resistance line this morning
and has failed to penetrate it.

Could always try again so waiting for failed retest.

if we break through, it could move up quite rapidly ?

any thoughts ?

 

[qaza]

bonsai

future has found support at 3910................been trading between 3920./3910 for 50 mins now

expected more volatility with expiry on friday, maybe later ?