FTSE, DAX, DOW Trading Ideas and discussions

TradeStar15 said:
Am finking of a long around 10,710/29 on DAX.

Thoughts ?
Click to expand...

I don't fink DAX bulls have to much to worry about, am looking at the 6hr chart here and think this 10,700/29 could lead it up to 10,950/70 in a few days.

Dunno, am just after a few points here and there.
 

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DaxSlut said:
Ouch we're going deep south on the DAX ....

That 10700 may be attractive
Click to expand...

This is always a problem with me : Went long 10760 for 15 points but did not have the nerve to short 10780.

Psychology.... Do not look above just in the direction you want your long term trade to go.

Good luck to those catching this I think I'm out for the day - made a fair few points.
 
Snooze you lose and I was napping ... DAX long at the rubbish price of 10790

Low leverage this time just £10pp think this will be a loser. Might stop and take the loss or add lower down
 
dentist007 said:
oil coiling ready for a pop
could take index with it
Click to expand...

I think oil like the indeces testing support in its ascend.

more upside but perhaps after a retest of 44s.

Don't see any weakness or melt down for indeces just yet. Establishing support for now (y)
 
DaxSlut said:
. . . Low leverage this time just £10pp think this will be a loser. Might stop and take the loss or add lower down
Click to expand...
:eek:
Wow DaxSlut, if £10.00p/p is low leverage - then you've got a seriously meaty account. Respect!

I'm interested in your choice of either taking the hit and being stopped out or averaging down. May I ask how do you decide which option is the best and when to do it? If you'd rather not say - no problem.
Tim.
 
timsk said:
:eek:
Wow DaxSlut, if £10.00p/p is low leverage - then you've got a seriously meaty account. Respect!

I'm interested in your choice of either taking the hit and being stopped out or averaging down. May I ask how do you decide which option is the best and when to do it? If you'd rather not say - no problem.
Tim.
Click to expand...

Hi Tim,

1 - Loadsamoney LOL - Never ever leave it in your SB account

I've withdrawn all my winnings today and left just £1k in there with which I will trade at £10pp tomorrow

NEVER NEVER NEVER, you'll use it to cover a bad trade incurring a huge loss. If your entry was wrong or poor you have no option but to close as you'll soon run out of funds - it makes you far more focused,disciplined about selecting the correct entry because you simply can't get it wrong or you'll be wiped out in a flash. With a huge pot you're more inclined to just click buy or sell anywhere without thinking or analysing the situation. If you've lost you simply have to walk away and come back another day - deposit some cash and be happily trading again. 75% of the time I never trade again if I've got it wrong. 25% I'll trade again when I'm 100% right on direction but ran out of funds.

2 - Assessing when to close and to reverse comes with experience and again with discipline.

This is so difficult to answer - I've had to rewrite this section a few times and it still doesn't make it clear. I don't think anyone has the right answer for this.
For me what I've been able to do is to block out losing trades from my memory / never let a trade take more than a day's profit

Let's say you've had a bad day comprised as.

12500 peanuts won and 1 trade takes 11500 peanuts away, you instinctively say that you've lost 11.5k and a days work.
Better to look at it as a good day with 1500 peanuts profit and please don't try to make back 11.5k as there was nothing to make back in the first place
 
DaxSlut said:
. . . Better to look at it as a good day with 1500 peanuts profit and please don't try to make back 11.5k as there was nothing to make back in the first place
Click to expand...
I'm glad I asked the questions - excellent reply - great insights into another trader's approach - thanks DaxSlut!
(y)
 
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