FTSE, DAX, DOW Trading Ideas and discussions

Sonicscooter

Well-known member
Jan 9, 2014
1,809
350
93
#16
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

Well-known member
Jul 22, 2010
4,110
172
73
#17
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...
 
Likes: Sonicscooter

tokyojoe

Well-known member
May 4, 2011
862
285
73
#18
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

Well-known member
Jul 22, 2010
4,110
172
73
#20
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....
 

Sonicscooter

Well-known member
Jan 9, 2014
1,809
350
93
#21
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...:confused:
 

tokyojoe

Well-known member
May 4, 2011
862
285
73
#22
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
 
Likes: Jessi_trader

tokyojoe

Well-known member
May 4, 2011
862
285
73
#27
DAXXXXXXXXXX

Potential long setup... might fetch 30 - 40 points.....watch 5 minutes chart for entry..
good shout, I must admit I lost my bottle after the pop at 13.45, I even waited to see what it would offer when it retraced back to offer 11780 a few mins later at about 13.52

B@ll@cks !!!
 
Last edited: