My Journey Into DAX Trading
Evening
Decided to join this forum after reading some posts as a non member and kept getting a pop up box to join if I wanted to read more.
Anyway, I have been trading for around 10 years in total. I first started spread betting UK shares around 2003 with not much sucsess on my old Deal4Free spread betting account. Truth be told I was just taking punts on shares with no strategy or specific reason other than the company was in the news. I was also trading at £5-£10 per point with account sizes in the region of £300-£1,000, I haven't kept track on how many accounts I have a blown in this group size, but it must be between 10-15.
After the first few blow-ups, I started looking at online courses and books, as I was new to trading back then, I was sure that the holy grail existed or at least something pretty close to it. I was also sure that there was something I could learn that would make me rich in a short period of time, I'm sure you had the same feelings and thoughts when you first started.
To cut a long story short, I must have wasted a further £2,000-£3,000 on BS courses by market guru's, amazon books and DVD's etc, each time I bought one of these products I would start thinking that this is it, this is the system or strategy thats going to do the trick for me. However, each time I studied and applied what I had learned, it left me with nothing more than a loss of funds and more disappointment.
It was the various courses and books that I bought that lead me away from spread betting shares and into spread betting Forex. I can honestly say that I have never had sucsess trading Forex or shares, but Forex seemed to be my worst platform for trading, the volatility on the pairs I was trading was a killer for me, especially as a non disciplined 'newbie' trader.
By the time of 2007 came, I had already blown numerous accounts, I had also pretty much given up on trading and just decided to concentrate on my job (ex-Fireman), but during 2009, I found myself interested in the markets once again, not sure what exactly lured me back in, but I had decided to attempt to trade the FTSE and DAX as well as the DOW. I first of all attempted to trade them on the daily charts with the use of a trend trading strategy I picked up from a book written by an American trader. I had some success with that, but it was nothing great. I then came across a futures traders website when doing some Google searches for strategies etc.
The trader was an ex-LIFFE trader and was writing a daily blog, the thing I liked about this trader was that she proved she was an ex LIFFE trader, so I new I wasn't wasting my time with a fake trader or marketer just out to make a buck from me, also her daily ramblings were free and she sold nothing.
Her blog was just her view on the potential days action and some analysis. After some email communication I told her that I was very interested in the FTSE, DAX and DOW, and asked if there was any advice or tips she could give me, one of the tips she told me was to ditch the multiple markets and just concentrate on one market, she recommended the DAX and gave me particular reasons. She also gave me some basic strategies to use and tweak to my own style, though the strategies were nothing outstanding or ground breaking, her explanations on why the simple strategies worked pretty much opened my eyes.
To this day I still use those basic strategies and I have even tweaked them to my own style, since 2009 I have been day trading the DAX with the use of financial spread betting, and as of 2011 I have been trading full time and continue to do so on the DAX only.
By becoming a member of this forum I hope to progress as a trader and hopefully learn some new tactics or pick up some advice or nuggets that I may not already know. I also hope to help others in return.
All the best
Nick
