DAX Intraday - December

Good call Bonsai,

Nothing compared to the wedge formation on the S&P though- that one goes back to July 15th.


Jeez,

Just looking at the 5 min chart, missed some easy points today :mad:


Didn't bother with office Oaty- just downloaded some freeware mathematical graph paraphernalia.
 
5 min chart- Once again the smothed Stoch gave some good buy & sell signals.
 

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Qaza,

What's hindsight got to do with it? I've been out all day as posted at 8am today.

The longs and shorts are graphically illustrated above, you just have to be able to interpret them & then have the b*lls to go hit the button in real-time. :D
 
Lockstock...

Where do you get the chart from that you posted above...and if it's not free.... how much ???

Thanks in advance...
 
Jitasb ,


Evening,

The charts are from Pro-realtime, I have just started using them after using Updata for 4 years & Sierra for 2 months.

IMHO it is an excellent piece of kit, the price varies depending what package you purchase & for how long.


I have the World indicies & currencies package- I negotiated an extra 4 months realtime data & with the extra months it has cost me roughly £29/ month for the 16 months.



All the best :D
 
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'Lo all, as I type (5th Dec) the Dax is in the process of creating a pennant, which I hope will break on the downside. I shorted some december 4000 calls yesterday at 23 points. 15 more days to expiry and I just cant see them getting up that high. All the decembers bar the last one have been positive however, but I'm really going on resistance at 3950 (August last year), as well the Dow's stubborness to bust through 9900.

I still dabble in intraday dax futures.....and I was wondering...do most of you here think that of all the markets....the DAX 'sticks to the rules' the most ?? by that I mean I have traded on so many perfectly formed chart patterns that have been very profitable compared to any other index. The channels, boxes, pennants etc... are textbook perfect. Obviously I have been shafted many times...but on the whole, I sorta see that rigid, German mentality showing up on their index !

Any thoughts on that ?
 
Quiet today,

Once again I have been out all day :cry:


Hi SKJ,

I find that the DAX- in the short time I have been trading that it is easier to read & does what you expect it to do don't know any reasons for this though.Other than the one you have put forward.

Did you take any points from the Pennant?


Obviously I have been shafted many times... Are you female ?
Only fooling :cheesy: :cheesy: :cheesy:
 
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SKJ,

Stoxx50 is the instrument of choice for institutions (to hedge exposure to European stocks) as it has much greater liquidity and lower transaction costs than the Dax. Dax is a much thinner market and can spike in either direction.

Speaking from experience - when you think it's easy you'll get your head taken off as the Dax can reverse in a very vicious manner. Watch out when the liquidity dries up as just a few contracts can move this beast in either direction.

The Dax does have greater implied volatility than both the FTSE100 and EuroStoxx50 so it can move rapidly when traders pile in...just make sure you're not holding the bag when the music stops.

As for patterns, I don't think it's any different from other indices, it just has its own personality and you have to trade it accordingly.
 
DAX,

Speaking from experience - when you think it's easy you'll get your head taken off as the Dax can reverse in a very vicious manner. Watch out when the liquidity dries up as just a few contracts can move this beast in either dire ction

No one said it was easy, my expression was easier, meaning easier than the other indicies. They are all hard, if it was easy everyone would be making money.

It's the decisive movement I like about the DAX- when it decides to go- it doesn't dither. Where as you can be waiting forever & a day for the UKX, then your always prone( I am) to the boredam trade.

Imho & all that :D
 
although I didnt post, I did trade the dax today.

It 'felt' thinner than FTSE. I suppose that means less measured in its moves ?

But nevertheless, it behaved itself. Which is more than you can say for some Indices ! (lol)

Nice bounce off its fib as well.

Left a few gaps, so it will be interesting to see how it deals with them.
 
I would suggest from the short time I have been reviewing the DAX it appears to have a better daily range than the FTSE which is what I trade. So the intraday swings appear to offer more and probably a bit more scope with the larger range to get something from it. IMHO
 
dax said:


As for patterns, I don't think it's any different from other indices, it just has its own personality and you have to trade it accordingly.
Click to expand...

Huh ? It has its own personality so therefore IS different from other indices.

Anyway, I'm just happy to see that someone else out there agrees with my perception. As lockstock put it " it is easier to read & does what you expect it to do". The lower liquidity in the dax compared to the Stoxx could also be helpful - less 'noise'.

As for my trade Friday, I took 10 points, selling close to the line drawn from Thursdays high at around 3899 down over the highs with a very tight stop placed just above it. I was square by the time the breakout occurred on the employment figures. I'm still spooked going into those situations with a position. In retrospect, the USD began losing ground just before those figures were announced - that could've been a good indicator as to the eventual direction. Just a theory - i'd still rather be square though.
 
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lockstock said:
Qaza,

What's hindsight got to do with it? I've been out all day as posted at 8am today.

The longs and shorts are graphically illustrated above, you just have to be able to interpret them & then have the b*lls to go hit the button in real-time. :D
Click to expand...

lockstock,

its a lot easier to see where you would have traded than to actually do the trades in real time.

thats my experience and thats why i made the comment.

Apologies ! :eek:
 
Morning quaza,

I know all about 'Harry Hinsight' & it would have been a reasonably valid statement if I just appeared from no where but if you look back it's documented that I was calling what direction the index was going in real-time the earlier part of last week & feel for the day I posted -post- the action I would have traded the clear signals that appeared on that day.




Cheers
 
morning
we seem to have broken the trend line from 3577

now we will see how well it behaves ?
I seem to have a number of fib targets for it to hit
3795
3773
3735
seem the first in line ?



edit: typo
 
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Not so sure if it the recent uptrend you mention is broken yet Bonsai- I have the Index right on support and also at the mid - range of the BB.


Once again Iam out most of this week so will not be able to contribute as much as I would like- so good trading everyone!!
 

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you may be right but I have given it a go

about 12 pts so far.

:arrowd:
 
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