FTSE, DAX, DOW Trading Ideas and discussions

[Jessi_trader]

Trading Guide
---------------------------

Dos and Don'ts

RULE 1: Keep it simple.
RULE 2: Keep it simple.
RULE 3: Follow rule 1.

In day trading you need to be efficient and effective and need to make decisions very quickly. If you make things complicated and keep you chart complex and confusing than you increase the chances of making error.

Processing few important and significant information is always better than processing too many weak and unnecessary information.

Do not look into and do not react to news and rumors, see the chart and do what chart is saying. Remember some times good news can pull market down and bad news can make market rally. So trade the chart don't let news and rumors influence your trading, trade chart and price action.

If you want to be consistent in this business and play for a long time then keep it simple. Remember, most of the successful traders in market have simple trading strategy.

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to be continued......

I am leaving this space blanks intentionally, would be developing a brief trading guide here to help people looking for such information.

This will also reflect major part of my trading strategy...



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Life is one big road with lots of signs. So when you riding through the ruts, don't complicate your mind. Flee from hate, mischief and jealousy. Don't bury your thoughts, put your vision to reality. Wake Up and Live!
-Bob Marley

 

[Jessi_trader]

DOW seems to be gearing up for further down side...

 

[Jessi_trader]

DOW Short target 17605

 

[Jessi_trader]

DOW setup chart with target indicated....

 

[tokyojoe]

not a bad idea, I'm Dax only & having got the confidence to start trading properly again, today is just a simple case of selling weakness (price stalls etc) & cautiously buying dips.

3 charts, 3 timeframes 1 instrument

 

[Jessi_trader]

DOW setup chart with target indicated....

The setup will fail if break up side obviously... but its unlikely...

 

[Jessi_trader]

not a bad idea, I'm Dax only & having got the confidence to start trading properly again, today is just a simple case of selling weakness (price stalls etc) & cautiously buying dips.

3 charts, 3 timeframes 1 instrument

IMHO, not good idea to trade DAX today and tomorrow...

The reason is after each big move.. market tends to consolidate and becomes choppy and trades in thin range... after one of two sessions market unfolds trading pattern that's where we should try to read the market and trade as next setup unfolds....

 

[Jessi_trader]

just for note... the intension of starting a new thread is to focus on trade ideas rather than live calls... lets post trade ideas and let people decide how to trade the setup.

Also, to make a place for like minded people interested in trading related information and ready to read between the lines and make their own decision...

 

[Fugazsy]

DOW seems to be gearing up for further down side...

Thank you for your chart, which TF is this? thank you

 

[Jessi_trader]

I would also be posting live call as and when possible....

 

[Jessi_trader]

Thank you for your chart, which TF is this? thank you

30 minutes...

 

[Jessi_trader]

IMHO, not good idea to trade DAX today and tomorrow...

The reason is after each big move.. market tends to consolidate and becomes choppy and trades in thin range... after one of two sessions market unfolds trading pattern that's where we should try to read the market and trade as next setup unfolds....

Meat has been eaten and bones are left... wait for new meat now ...

 

[tokyojoe]

IMHO, not good idea to trade DAX today and tomorrow...

The reason is after each big move.. market tends to consolidate and becomes choppy and trades in thin range... after one of two sessions market unfolds trading pattern that's where we should try to read the market and trade as next setup unfolds....

Agreed, but I've taken 3 nice profit trades today, as sometimes even after the large move day the Dax tends to present 40 points here, 30 points there opportunities, I'm done only always waiting for the larger moves, It was making me too Hesitant

But yes defo agree much caution needed on days after a blast

 

[Jessi_trader]

stops are indicated by red line and targets by circles....

 

[Jessi_trader]

Keeping an eye on gold... coming to buy area around 1110 - 1130 area..

 

[Sonicscooter]

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.

 

[Jessi_trader]

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...

 

[tokyojoe]

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

 

[Jessi_trader]

And you know whats gonna happened if DAX closes below that dotted red line on Firday..

I am watching till Friday 4 PM...

 

[Jessi_trader]

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....