Trading the Dax

[dashdbn]

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[tablemountain]

Hi guys, what times frames do you work off for DAX? I use daily,30 min and 5 min.

What time frame do you use for entry?

 

[tablemountain]

Apologies for the interuption.
Ever considered trading via Range bars (5 pip in this case) ?
I will not interrupt again -just thought it might add to the discussion.
Google "Range Bars" if you wish to pursue the subject further.

DOW shown as an example of Range Bars depiction.

Hi

I noticed your message and read the '.....price action indicates the future'.

Ok so indicators tell you about the past, I get that. But how do you use price action to indicate the future? (sorry if this sounds a dumb question i've only been trading cfds for about 6 weeks)

 

[dashdbn]

Hi guys, what times frames do you work off for DAX? I use daily,30 min and 5 min.

What time frame do you use for entry?

Hi mate. Are use the hourly timeframe to draw support and resistance. I sometimes use the five minute time frame as an entry point.

It is always better to use a larger timeframe when trying to find particular levels of support and resistance.


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[dashdbn]

Hi



I noticed your message and read the '.....price action indicates the future'.



Ok so indicators tell you about the past, I get that. But how do you use price action to indicate the future? (sorry if this sounds a dumb question i've only been trading cfds for about 6 weeks)

Hi mate. There is never a dumb question when it comes to training. That is how we all learn and grow.

Depending on what kind of charts you use, Price action can be determined by candle patterns for example.


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[tablemountain]

Hi mate. There is never a dumb question when it comes to training. That is how we all learn and grow.

Depending on what kind of charts you use, Price action can be determined by candle patterns for example.


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Ok I get what you mean by price action. But isn't the pattern of eg candle stick patterns come out in real time almost in sync with the indicators e.g. RSI or Stoch?

So a 5 min candle stick chart could show a bullish rally, with the RSI and Stoch also going up. So don't the indicators move in sync based on price action?

 

[dashdbn]

Chart indicators, are generally lagging. An RSI can remain oversold for long periods of time. This is why I say the longer time friends give you better ideas around price action.


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[dashdbn]

Look at this example. Classic support and resistance. This is the chart of usd chf


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[tablemountain]

Chart indicators, are generally lagging. An RSI can remain oversold for long periods of time. This is why I say the longer time friends give you better ideas around price action.


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Yes now that you mention I get what you mean and I have noticed that exact scenario e.g. RSI saying oversold but price going higher or at least sideways for a while, then higher again. (I try to take any small profit at this point or cut my losses short).

I will try to research and take note of price action more. But would you say use it in conjunction with indicators? or do you dismiss indicators all together?

 

[tablemountain]

Look at this example. Classic support and resistance. This is the chart of usd chf


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Ok interesting. I'm going to see if I can make use of the hourly chart rather then the 30 min chart I tend to use.

For overall trend I use daily, would you agree on this?

For entry I use 5 min; is this relevant or would you use your entry point on price alone? (e.g. hourly chart shows support @7200 on FTSE so you just go for it at that price with a stop of say 30 ticks?)

Or same FTSE scenario; support at 7200 but you use a 1 min or 5 min chart to enter?

 

[dashdbn]

You could use 5 m as an entry but it must be going with the trend

Will try and draw an example with FTSE and show you


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[tablemountain]

I have a major support on DAX on daily at 11850- what are everyone's thoughts? I can't decide if to short or long DAX atm.

And the FTSE- I got a support line of 7262, I'm looking long here

Depending on market news/sentiment and what it looks like the market is saying, Im looking long FTSE and still undecided for DAX so I'd aim for a quick long or short to nick a few ticks and see how it goes

Peoples thoughts?

 

[dashdbn]

Dax should open with a big gap tomorrow up. Short at the top. Watch it first. Major res comes in at 12246 12250


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[foroom lluzers]

buying april 12100 call for 62 hope it works this week

expiry friday 12.00

 

[dashdbn]

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[tablemountain]

buying april 12100 call for 62 hope it works this week

expiry friday 12.00

Would you say this news from UK prime minister and tensions in syria, south korea etc could cause a sell off to nullify the 12100 support/long call?

have you got this level based on the daily candle stick chart? Or MA or something like that? I can't really see why the 12100 is long play (although I am inexperienced so maybe my support for DAX of 1185 is wrong!)

 

[foroom lluzers]

Would you say this news from UK prime minister and tensions in syria, south korea etc could cause a sell off to nullify the 12100 support/long call?

have you got this level based on the daily candle stick chart? Or MA or something like that? I can't really see why the 12100 is long play (although I am inexperienced so maybe my support for DAX of 1185 is wrong!)

i have a system , if dax closes lower , next week i open a long otm call.

It works in the long run

 

[tablemountain]

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Its currently at around 12030- have you got in if so where do you put your stop?

Technically my support for FTSE was right, although I got in bit lower based on 5 min chart entry, on my CFD account went to circa £71 profit, then dropped and droppeddue to the theresa may news.

My fault for not researching news this morning before starting, as soon as I googled FTSE 100 the notice came up that she was going to announce something.

I should have got out then ASAP but based my trading on hope and that it would go my way.

Lesson to learn-never trade around news.

 

[tablemountain]

i have a system , if dax closes lower , next week i open a long otm call.

It works in the long run

sorry if i ask an obvious question but if you are long, and it closes lower, then you open a long otm call (which Im not sure what it is)

arent you adding to a position a long position that is going lower rather then rallying higher?

Or are you saying your system in the long run works so overall you will risk it regardless of global politics, economics etc

 

[foroom lluzers]

sorry if i ask an obvious question but if you are long, and it closes lower, then you open a long otm call (which Im not sure what it is)

arent you adding to a position a long position that is going lower rather then rallying higher?

Or are you saying your system in the long run works so overall you will risk it regardless of global politics, economics etc

i am buying call option , 1.2100 , if price close lower ,i will buy 1.200 or 11700 next monday

i don't try to predict short term moves