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Dax - Daily analysis and Discussion

  • #941
  • May 3, 2018 5:54pm May 3, 2018 5:54pm
GER30_03_MAY_2018
https://www.tradingview.com/x/sPefiwmn/
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  • #942
  • May 3, 2018 6:38pm May 3, 2018 6:38pm
Quoting cat
Big potential support zone now for the Dow, anywhere from here down to 400 or so. Beyond that, and stock markets are in big trouble.
I am impressed, you know your Dow
  • #943
  • May 4, 2018 1:21am May 4, 2018 1:21am
Quoting darko2010
{quote} I am impressed, you know your Dow
Not so much the Dow as having a pretty good idea of where the most likely S&R levels are, on any market. Crucial knowledge to have, because one's trading can be based around it.
  • #944
  • May 4, 2018 10:36am May 4, 2018 10:36am
Quoting cat
{quote} I've tried all time frames down to 3 seconds, and after much trial and error, I now don't go below 20 seconds for my entries, which, combined with the 1m tf as the next one up, works best for me. You need around a 30 pip SL though on Dow, even on the 20sec tf, unless the pa is really clean. I wouldn't advise anyone to trade the Dow though unless they have spent a decent amount of time studying and demo trading its moves.
Looking at the 30 sec chart, things seem "cleaner", at least today
Will keep an eye on it and try to learn, this is probably one of the biggest money losers for wannabies
Happy weekend
  • #945
  • May 4, 2018 1:27pm May 4, 2018 1:27pm
Quoting darko2010
{quote} Looking at the 30 sec chart, things seem "cleaner", at least today Will keep an eye on it and try to learn, this is probably one of the biggest money losers for wannabies Happy weekend
15/20/30 doesn't make all that difference really, and I only use sub one minute to nail the entry anyway. I've said before, that for people new to trading who want to get as much experience actually putting on trades as they can, the smallest time frames are the way to go, because you get many more opportunities. No point sitting watching a 30m chart all day with just one or two trades. Also, if you have a small account, as I did when I started, one has no choice but to trade the smaller tfs.

One more thing, people think that say a ten second time frame is unreadable, but it isn't, provided one uses the right moving averages, because it is these which give it structure. My ma set up is the one thing I cannot and would not share though, not because it contains the magic bullet or anything like that, but because it is mine and has taken many years to develop. This is one thing I find so many new, relatively inexperienced traders fail to understand, that any system has to evolve with the trader so that in actuality there is no system at all, just knowledge gained. I just do not believe that anyone can pick up something claimed by someone else to be a money making strategy, and make money with it without really making it their own. This does not exist in the trading world, or if it does, then I've never come across it.

Have a great weekend.
  • #946
  • Edited 1:51pm May 4, 2018 1:40pm | Edited 1:51pm
I will share one thing with you though, and I've written about it before, so I'll be brief.

There is a major psychological flaw that seems to exist is all of us which is the number one reason why we all lose until we've worked out what it is.

I wonder if anyone knows what it is?

Perhaps I'll leave it with you over the weekend.

Actually, it's quite difficult to explain, so without going and looking for my previous post on it which I think was on my trader's academy thread, I'll have to compose it a bit.

Any opinions though are more than welcome. Just why is it that we lose consistently until we figure out all the ins and outs of this game and the inadequacies of our brain, that's if we figure it out at all?
  • #947
  • May 4, 2018 5:36pm May 4, 2018 5:36pm
GER30_04_MAY_2018
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  • #948
  • May 7, 2018 5:39pm May 7, 2018 5:39pm
GER30_07_MAY_2018
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  • #949
  • May 8, 2018 4:51am May 8, 2018 4:51am
Quoting cat
I will share one thing with you though, and I've written about it before, so I'll be brief. There is a major psychological flaw that seems to exist is all of us which is the number one reason why we all lose until we've worked out what it is. I wonder if anyone knows what it is? Perhaps I'll leave it with you over the weekend. Actually, it's quite difficult to explain, so without going and looking for my previous post on it which I think was on my trader's academy thread, I'll have to compose it a bit. Any opinions though are more than welcome....
I am not sure if this question was directed to me, but my work in these last few months made me realize a few things about trading and about myself in general, so here are the few realizations I came to even though they may not answer the question of why traders lose.
Strat (Strat's PASR Long Term, Stress Free Trading), whom I will revere as my mentor for the rest of my life is the one who forced me to come down from my high horse and accept a few truths. He made me realize I control nothing, except how much punishment I am willing to accept, the rest is beyond my power. So I stopped trying to control a thousand billion monster with my own money and instead of engaging in a daily fight, I started a daily conversation where I understand when to speak and when to be silent.

As I read what I just wrote, I realized I could have spoken about my relationship with wife as much as about my trading...
  • #950
  • May 8, 2018 5:02pm May 8, 2018 5:02pm
GER30_08_MAY_2018
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  • #951
  • May 9, 2018 6:17pm May 9, 2018 6:17pm
GER30_09_MAY_2018
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  • #952
  • May 10, 2018 5:39pm May 10, 2018 5:39pm
GER30_10_MAY_2018
https://www.tradingview.com/x/3mGw1uEI/
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  • #953
  • May 11, 2018 8:57am May 11, 2018 8:57am
Big potential resistance level just hit on the Dow. This afternoon will either see it hold or break.
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  • #954
  • May 11, 2018 9:03am May 11, 2018 9:03am
Quoting darko2010
{quote} I am not sure if this question was directed to me, but my work in these last few months made me realize a few things about trading and about myself in general, so here are the few realizations I came to even though they may not answer the question of why traders lose. Strat (Strat's PASR Long Term, Stress Free Trading), whom I will revere as my mentor for the rest of my life is the one who forced me to come down from my high horse and accept a few truths. He made me realize I control nothing, except how much punishment I am willing to accept,...
It was just a general ? darko, not to you personally, but thanks for the reply. I'm not bothering to follow up on my initial post, as I sometimes feel like a talking to a brick wall on this thread...little interest it seems, and I only veer post for the benefit of others, or for those who may be interested, not myself. Besides, everything I could possibly share is all on my other threads anyway.

" When to speak and when to be silent "...great lesson for life as well as trading.
  • #955
  • May 11, 2018 9:27am May 11, 2018 9:27am
Quoting cat
{quote} It was just a general ? darko, not to you personally, but thanks for the reply. I'm not bothering to follow up on my initial post, as I sometimes feel like a talking to a brick wall on this thread...little interest it seems, and I only veer post for the benefit of others, or for those who may be interested, not myself. Besides, everything I could possibly share is all on my other threads anyway. " When to speak and when to be silent "...great lesson for life as well as trading.
I was actually about to answer.

There are few physiological flaws. The one that sticks out to me is the confirmation, over confirmation seeking nature in us. we have to see something work before being involved .. for example in business coffee shops are booming, Yep let me open one. by the time most get encouraged to start a business, it's to late. same in trading. Not sure if this specifically the thing one has to fix in trading but it sure results in many people failing.
It's in fear when people show what they truly value.
  • #956
  • May 11, 2018 9:34am May 11, 2018 9:34am
Quoting ensale
{quote} I was actually about to answer. There are few physiological flaws. The one that sticks out to me is the confirmation, over confirmation seeking nature in us. we have to see something work before being involved .. for example in business coffee shops are booming, Yep let me open one. by the time most get encouraged to start a business, it's to late. same in trading. Not sure if this specifically the thing one has to fix in trading but it sure results in many people failing.
Exactly what I tried to explain on my post regarding "Domestication" on Strat's thread...
We are educated (or raised), to react more than act, and seek reward for not taking initiatives out of turn, i.e. the opposite of what trading requires so long as you understand the market flow and PA
  • #957
  • May 11, 2018 9:44am May 11, 2018 9:44am
Quoting darko2010
{quote} Exactly what I tried to explain on my post regarding "Domestication" on Strat's thread... We are educated (or raised), to react more than act, and seek reward for not taking initiatives out of turn, i.e. the opposite of what trading requires so long as you understand the market flow and PA
Yes Remember the post. we are saying the same thing in our own words.

Meanwhile dax is asleep .. Bull break expected into the close.
It's in fear when people show what they truly value.
  • #958
  • May 11, 2018 9:50am May 11, 2018 9:50am
Thanks guys!

There are in fact so many psychological flaws in us all that it's difficult to list them or choose the most important. Somehow seeing every challenge as an adversary is one of them, which for traders usually translates to attempting to outsmart the market, to get one over it so to speak, which in turn translates into trading against it rather than with it. It is a natural tendency to miss a move only to trade the other way rather than wait patiently for a pullback or just accept that we missed it and wait for another set up. This counter productive intuitiveness is a killer for most traders.

I actually think women make much better traders, because they are not troubled by the Alpha male ego gene which most men bring with them into trading. Yes, we need to be aggressive when the time is right to be aggressive, but we need a good cool head on our shoulders, which many of us do not have. One of the many things we have to learn.

Have a great weekend!
  • #959
  • May 11, 2018 9:52am May 11, 2018 9:52am
Quoting cat
I actually think women make much better traders, because they are not troubled by the Alpha male ego gene which most men bring with them into trading.
You clearly haven't seen my wife trade...
  • #960
  • May 11, 2018 12:13pm May 11, 2018 12:13pm
Quoting darko2010
{quote} You clearly haven't seen my wife trade...
You mean you actually let her!!??
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