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Carpe diem: Intraday tactics for Dax and Dow

  • #36,061
  • Nov 13, 2017 5:18am Nov 13, 2017 5:18am
Quoting iak
{quote} Looking good
thanks

TP hit 13051 ( +62 )
  • #36,062
  • Nov 13, 2017 5:21am Nov 13, 2017 5:21am
DAX Short position closed + 48 points
Attached Image (click to enlarge)
Click to Enlarge Name: DAX SHORT 13 NOVEMBRE 2017.jpg Size: 170 KB
  • #36,063
  • Nov 13, 2017 5:25am Nov 13, 2017 5:25am
4 hr long
Attached Image (click to enlarge)
Click to Enlarge Name: GER30H4.png Size: 61 KB
  • #36,064
  • Nov 13, 2017 5:28am Nov 13, 2017 5:28am
Quoting Wachturm
{quote} thanks TP hit 13051 ( +62 )
Very nice!
  • #36,065
  • Nov 13, 2017 5:43am Nov 13, 2017 5:43am
Quoting EddyL
{quote} Very nice!
thank you

I might short ~13080 if we get there, with tight SL to at least 13050 .. waiting..
  • #36,066
  • Nov 13, 2017 5:52am Nov 13, 2017 5:52am
Quoting Wachturm
hourly chart looks like 13050 possible in the next 1-2 hours... waiting for H1 to close..
What were you looking for when you said waiting for H1 to close? Close below 13100? Or just a bearish candle?
  • #36,067
  • Nov 13, 2017 5:57am Nov 13, 2017 5:57am
Quoting EddyL
{quote} What were you looking for when you said waiting for H1 to close? Close below 13100? Or just a bearish candle?
was waiting for H1 to close below 5sma as confirmation
  • #36,068
  • Nov 13, 2017 6:09am Nov 13, 2017 6:09am
13000 anyone?
  • #36,069
  • Nov 13, 2017 6:19am Nov 13, 2017 6:19am
DAX second Short position closed + 42 points
Attached Image (click to enlarge)
Click to Enlarge Name: DAX SHORT 3 13 NOVEMBRE 2017.jpg Size: 172 KB
  • #36,070
  • Nov 13, 2017 6:22am Nov 13, 2017 6:22am
hello again,

feeling lazy today. open order buy dax etf @13.000. if so, most likely thatīll be the only thing to do for me today
(sun came out on a november morning) -> quality time.

good luck!
fortis fortuna adiuvat
  • #36,071
  • Nov 13, 2017 6:27am Nov 13, 2017 6:27am
Quoting EddyL
Catempire, wanna work on that discipline thing together? Deltaone, would you mind sharing your approach to trading the indeces? After all, this thread is for intraday tactics. :-) I've been watching your trading as you post it over a little while and can't seem to grasp how you find your entries. I've also tried looking through this thread to see if I can find something, but 1800 pages is a little time consuming...
hi EddyL,

over a little while?
thatīs not easy to answer, more or less i would have to write a book.
but maybe iīll write an little abstract. to be honest, it never came to my mind when i started this thread years ago itīll reach 1.800 pages

all the best
d1
fortis fortuna adiuvat
  • #36,072
  • Nov 13, 2017 6:30am Nov 13, 2017 6:30am
as i type it: dax etf order filled @13.000, tp +200. next @12.800 (if so).
fortis fortuna adiuvat
  • #36,073
  • Nov 13, 2017 6:32am Nov 13, 2017 6:32am
canīt resist: long @13.000,1 sl -10 tp +30
fortis fortuna adiuvat
  • #36,074
  • Nov 13, 2017 6:40am Nov 13, 2017 6:40am
Quoting deltaone
canīt resist: long @13.000,1 sl -10 tp +30
sl = be now.
afk
fortis fortuna adiuvat
  • #36,075
  • Nov 13, 2017 6:40am Nov 13, 2017 6:40am
Guys [catempire and EddyL], one suggestion for you is to really nail the objectives of day trading.

By this I mean:

  1. you have to embrace that any decision making framework is going to be flawed.
  2. To move away from the blind gamble, the direction of your planned trade needs to always be in line with higher timeframes.
  3. Profit targets is a traditional way, eg. Fib Levels, Support Resistance Levels. BUT, you still have to assign probability
  4. Pip targets, could be useful. Eg. 20 pip target is an easy way to achieve growth because it's not purely dependent on long term direction.


One way that I've found useful is to learn Elliot Waves. I was very reluctant to learn this for a long time.
However, when I incorporated it into my style, it paid off.

It's not precise, but learning to count the waves can help you understand whether you're getting in early or late.
Don't worry, you'll be wrong - that's what the stop loss is for.

The idea is to not reach perfection by having zero losses.
The idea is to learn more about yourself during your trading so that you learn to eliminate the triggers that make you make bad trades.
Basically, learn to recognise the triggers of bad trades (eg. emotion, fear of missing out, revenge trading, etc etc) and deal with it.

Keep a trading journal!

A pip is only worth it if you know how much you risked to earn it
  • #36,076
  • Nov 13, 2017 6:45am Nov 13, 2017 6:45am
Quoting deltaone
hello again, feeling lazy today. open order buy dax etf @13.000. if so, most likely thatīll be the only thing to do for me today (sun came out on a november morning) -> quality time. good luck!
quality time - good idea. Me= back to bed and finishing the book Money by Martin Amis

good luck
  • #36,077
  • Nov 13, 2017 7:12am Nov 13, 2017 7:12am
Continuation of Dow "radar/bullseye" chart :
Attached Image (click to enlarge)
Click to Enlarge Name: Dow Radar.png Size: 365 KB
  • #36,078
  • Nov 13, 2017 7:58am Nov 13, 2017 7:58am
DAX completing a 5 wave corrective move down, which I believe is starting a down trend. Wave 1.

Now looking for a bottom this week (maybe today??) That will start an ABC pattern: reverse and make a new reversal top (a), drop to higher low (b), reverse to higher too (c) which will then complete Wave 2. Potential target for (c) is 13254 but any approx Fib or Pivot could serve.

This will be a good place for shorts on the longer Wave 3 move down to 1.2x territory.
A pip is only worth it if you know how much you risked to earn it
  • #36,079
  • Nov 13, 2017 8:09am Nov 13, 2017 8:09am
Quoting vlady1974
Guys [catempire and EddyL], one suggestion for you is to really nail the objectives of day trading. By this I mean: you have to embrace that any decision making framework is going to be flawed. To move away from the blind gamble, the direction of your planned trade needs to always be in line with higher timeframes. Profit targets is a traditional way, eg. Fib Levels, Support Resistance Levels. BUT, you still have to assign probability Pip targets, could be useful. Eg. 20 pip target is an easy way to achieve growth because it's not purely dependent...
Thank you, Vlady! Very useful suggestions to stay mindful of. I am working on developing the trading mindset and I feel that I am becoming more self-aware. It has been quite a journey so far, and so much more to learn.

I realize that trading is based on probabilities, there is no guarantee of successful outcome in any one trade. I do trade the trend and have tried a few different approaches to target setting. I've never tried Elliott Waves, but I will look into them, thank you for the suggestion.

The reason I ask for experienced traders to share their rationale or approach is not to find the "holy grail" or a perfect system. I believe, though, that it would expand my horizons and add to my knowledge of the markets. I find it really amazing that there are so many different approaches and views of the same market.
  • #36,080
  • Nov 13, 2017 8:13am Nov 13, 2017 8:13am
Quoting vlady1974
DAX completing a 5 wave corrective move down, which I believe is starting a down trend. Wave 1. Now looking for a bottom this week (maybe today??) That will start an ABC pattern: reverse and make a new reversal top (a), drop to higher low (b), reverse to higher too (c) which will then complete Wave 2. Potential target for (c) is 13254 but any approx Fib or Pivot could serve. This will be a good place for shorts on the longer Wave 3 move down to 1.2x territory.
On what timeframe?
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