Plan the Trade

By the way.... do you see what i mean about the Dax?! It really does trend as nicely as the Nas!) It's been a little quiet today though, in all honesty.

When set-ups might require a risk of 5 points including a 1 point spread and the movement only gives 8/10 points in total, by the time you chase candles down, you give back 3 points (from trough) and end up with +7... not a good ratio for initial risk.

Certainly it seems that this is a calmer environment when comparing to the Nas, but if it encourages me to take bigger positions over time, it will do the trick.

I can remember being scared shitless of the Dax!)

top work cg .. are you using 200 tick chart for dax?

nice start 123 break pb

I have two charts open, one is 100 tick and the other is 200 tick, i find it useful having a slightly larger picture, but also a bit more detailed one as well.

The 'ticks' according to IG Index are nowhere near the same relevance to Sierra, so i've just picked rates which seem to work well. This is still early days for me watching the Dax in the same way that i've become accustomed too with the Nas over the past year, but i have to say, it trends absolutely amazingly for the most part.

Look at these reactions from each prior Supply zone. The key is counting the 5 wave declines and matching them to which abc set they belong too, but that took me 7 years of EW to work out and i can't explain it;



In the end you tend to develop your own way of viewing a chart. Each of us is different!

Right now, i'm really enjoying my trading and i am certain that this was the right move for me. My results have improved massively since trading pullbacks as opposed to any kind of triggers (123 or C&H highs) etc

The other thing i seem to be constantly improving is realising when to stay out, Whereas not long ago, i was a bit 'gung ho'! Having no position is a position itself and when i can make a case for either direction as 50/50, i will wait for more evidence and/or a better set-up.

My overall EW view is definitely helping me though. I guess i'm choosing to stick with that as opposed to using MP, but it's the same idea. Once you have an overall idea of where the market is likely to head next (long or Short), it's simply a case of having the discipline to wait for a nice retest of prior S/D zone to get onboard with a hugely favourable R:R ratio.

thanks for this cg will take a look .. market opens 0230 est?

you're spread betting dax?

will buy poc if pb

123 break waiting for pb

target poc

reasonable day:

Well started off with a -10 then got 15 and this last trade off 123 at vh got me 32 so 37 minus comm today

Nice trading guys! I did ok. I am still trading the 512 T, but also look at a 347 vol chart. Both of my trades were taken off the smaller chart today.

market wasn't exactly smooth today had to pick my spots which I have been doing a lot of these days the candles are bigger than normal so my 10 tick stop will get hit more times but the otherside is true getting the 10 back will be easier

was this a setup Harold:

I would see it as a pullback as we were making lower lows it would have resulted as a +1 at worst

but as I look at it now it did form a quasi 123 so yea that could have been a pullback to go long

Yep Spreadbets.

Spreads close to 1 pip (during normal hour's) in UK time, 8:00am start GMT.

I'm not saying goodbye to Futures or the Nas, merely using this as a springboard to increase position sizes. I am trading live, but with small positions. so as to keep the fluidity as if it were a demo account. Started last Wednesday and am plus 180 odd pips so far, with no losing days, (long may that continue!).

The only other factor for me to consider, is that i am GMT+2, thus when trading the Nas, i have to start late afternoon, vs, the Dax, which is a nice mid morning start. It might actually suit me better, but we will see. Hey, there are no rules, i could trade morning sessions of both, if i am at home!)

nice to hear your live and making money

nice finish .. took the hook and held it