New to trading the DAX

[newtrader12]

Hi all,

I am a new trader and just looking at the DAX in Sim mode. If I went live do I have to use a market order to place my trades.

I noticed on the EUREX website stop limit orders are not allowed. I am concerned about slippage if using a stop market order

Any suggestions on how people trade the DAX much appreciated

Thanks

newtrader

 

[Jaydee]

If I went live do I have to use a market order to place my trades.

I noticed on the EUREX website stop limit orders are not allowed. I am concerned about slippage if using a stop market order

You can use limit orders and market orders to place your trades - the former being a passive booked order and the latter being an aggressive, instantly fillered order.

Stops should always be at market. You may get some slippage, especially in the DAX, but it is better than continually chasing the market with a limit order to get you out when you are already offside.

Be careful with the DAX, it is one of the hardest indices you can trade - it is whippy and the short-term traders who trade it are very aggressive and ballsy. I'm a little surprised that you would want to start out on this index when you have the DAX's much calmer Eurostoxx cousin to trade on Eurex. But, hey, whatever you decide, good luck and always stop out at market.