daxdaytrader
Active member
- Messages
- 142
- Likes
- 3
This setup for the afternoon rally has appeared a number of times recently, I think I've posted it twice already. Note that the dip beneath the trend is getting deeper each time, and the afternoon rally is weakening. Although there is nothing to suggest a break in the bullishness, it is certainly weakening. We need to start looking for lower highs and lower lows to trade off.
Attachments
daxdaytrader
Active member
- Messages
- 142
- Likes
- 3
Joey said:
Hi Joey, I work off a daily, 1 hour and 15 minute chart marked up with the fibs. I then look for precise entries on a 5 or 2 minute chart. I use TWS platform. My 2 minute chart was built by myself for microtrading, and can be used for very precise entry (when I get the time and no distractions!).
In this case I had 3 goes to enter the move off a 5 minute chart. I got in last at 32, but sadly had to leave to get ready for work, so came out break evens. If I had hung on a couple more minutes I would of seen the final dragonfly like setup, and probably of put on a final buy. The failing was coming to the market too early, and then not being very persistent. Of course, a larger stop would also of carried me through, but I am fairly reluctant to use them.
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
Racer
Senior member
- Messages
- 2,666
- Likes
- 30
The ZEW research institute said its economic expectations index for Germany slipped 5.2 points to minus 27.4 points in October, the lowest level in more than 13 years, on worries about next year's VAT hike and a potential economic downturn in the US.
The October index -- the lowest since March 1993 -- was also worse than anticipated by experts. Economists polled by AFX News had forecast an improvement to minus 20.0 points.
The October index -- the lowest since March 1993 -- was also worse than anticipated by experts. Economists polled by AFX News had forecast an improvement to minus 20.0 points.
firewalker99 said:
Open a demo account at oanda. They have great world wide real time news ticker.
I do not know what happens but this is the second time when I got no notifications about this thread. I decided to check it out after 1 month, and see all these news posts. Any one else experience this issue?
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
RedDuke said:
I believe you only get notifications of new posts in a certain thread after you've posted in it yourself... so you should be getting a message in your mailbox now
Hi I am back ..I see their are a few other Dax threads now..
Good that others are trading this great index too.
I dont just trade the dax alone.
I trade the Dax the Dow and the Ftse
The Dax between 7am and 9pm..(with emphasis on the first 2 hours, which offer great opportunities imo and then mainly 4-9 intermittently..) The 3pm-4pm period probably offers the biggest price movement but its not that convenient for me...and if you get it wrong then it can really get away from you.
I look for 20-40 points per day from the Dax, and find that quite achievable on most days.
Anyone else care to let me know their experiences?
Good that others are trading this great index too.
I dont just trade the dax alone.
I trade the Dax the Dow and the Ftse
The Dax between 7am and 9pm..(with emphasis on the first 2 hours, which offer great opportunities imo and then mainly 4-9 intermittently..) The 3pm-4pm period probably offers the biggest price movement but its not that convenient for me...and if you get it wrong then it can really get away from you.
I look for 20-40 points per day from the Dax, and find that quite achievable on most days.
Anyone else care to let me know their experiences?
Red Duke yes thats my feeling cant get 40 every day....but 20 points entirely reasonable
I also trade the Ftse and Dow and look to make 50+ overal there daily.
Given the Dow moves so much that is not too onerous, and I tend to try and
see which of the Ftse and Dax is more frisky each day.
sometimes although I prefer the Dax its more rangebound than the Ftse.
I also trade the Ftse and Dow and look to make 50+ overal there daily.
Given the Dow moves so much that is not too onerous, and I tend to try and
see which of the Ftse and Dax is more frisky each day.
sometimes although I prefer the Dax its more rangebound than the Ftse.
This am we have a gap up that will need to be filled
My eyes are focusing on the S&P which remains oxtremely bid.
My quess new highs this am.although still shy of 6600 then a possible retrace later in the day..
and of course Dax figures this am at 10..
My eyes are focusing on the S&P which remains oxtremely bid.
My quess new highs this am.although still shy of 6600 then a possible retrace later in the day..
and of course Dax figures this am at 10..
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
RedDuke said:
40 points could be excellent when the daily range is only 20. But 40 points could be average when the daily range is 100 points... But in any case, I would be more than happy to get those results each day
Last edited:
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
foale said:
50 points trading one lot looks superb to me. Lately it seems there's one big move (from the start) and the rest of the day is sideways...
Well 50 points usually a combination of a couple of good moves and a few " grab a few points off the table" lol
FW...the problem with me is that I dont tend to capitalise on those 80+ point days..and on those days only take out a small portion of the move. Perhaps I cant adjust quick enough.. Still they dont happen all that often. This ams range style has become more of a feature recently.
FW...the problem with me is that I dont tend to capitalise on those 80+ point days..and on those days only take out a small portion of the move. Perhaps I cant adjust quick enough.. Still they dont happen all that often. This ams range style has become more of a feature recently.
firewalker99
Legendary member
- Messages
- 6,655
- Likes
- 612
Bought at 6648 this am. Looking to test 65. Reaction to that potential resistance level should indicate how buyers/sellers are distributed.
