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DAX Futures June 2020

  • #1,541
  • Apr 1, 2020 8:09am Apr 1, 2020 8:09am
Quoting Brixen
{quote} My dad once said to me "sometimes it's better you burn your fingers, but never let to burn your hand".......... Futures are beasts, specially these days.
what a great advise for life, and for trading! i made stupid mistakes, but gladly not too big
  • #1,542
  • Apr 1, 2020 8:13am Apr 1, 2020 8:13am
Quoting Caiuss
FDXM is a beast for sure. I watch 5sec candles and when a candle is 40 points tall, you get the idea you should not mess with the stuff. This is algo space, not for humans.
Until Dec 2018 I traded only FDAX, as you can se in my previous journals.

Then until last february I always traded FDXM + sometimes rarely FDAX. Never DAX CFDs, last time was probably 2015, more or less.

Since early March I re.started to trade DAX CFDs + rarely FDXM. Exceptional times need counter.measures..........
I call upon my father's spirit , watching over me
  • #1,543
  • Apr 1, 2020 8:16am Apr 1, 2020 8:16am
Quoting Caiuss
FDXM is a beast for sure. I watch 5sec candles and when a candle is 40 points tall, you get the idea you should not mess with the stuff. This is algo space, not for humans.
i wonder who's trading the FDXM. they introduced it some years ago, for retail traders as an alternative to CFDs. but probably for most retailers still too heavy. same reason they introduced the micro-eminis at CME i think. CFD will probably be dead in germany soon, we'll see if the same thing with futures and daytrading in general
  • #1,544
  • Apr 1, 2020 8:25am Apr 1, 2020 8:25am
Quoting karuner
{quote} i wonder who's trading the FDXM. they introduced it some years ago, for retail traders as an alternative to CFDs. but probably for most retailers still too heavy. same reason they introduced the micro-eminis at CME i think. CFD will probably be dead in germany soon, we'll see if the same thing with futures and daytrading in general
I have a dumb question... is the DAX CFD exchange traded or is it an OTC product?
  • #1,545
  • Apr 1, 2020 8:31am Apr 1, 2020 8:31am
Quoting Caiuss
{quote}I have a dumb question... is the DAX CFD exchange traded or is it an OTC product?
it's OTC, a contract between you and the broker (Contract For Difference) to pay to the other side the difference between a) price when entering the contract and b) when closing the contract. they make their own prices but they are normally very close to the real prices you get at the exchange.
  • #1,546
  • Apr 1, 2020 8:35am Apr 1, 2020 8:35am
Quoting Brixen
I have only 1 DAX CFDs 9531,5. I'll wait my internet connection, while I hold some additionals orders as indicated previous post.
OK, I hold my small position from 9531,5.
I have again a reliable internet connection and waiting for 9505/9555 range break....
I call upon my father's spirit , watching over me
  • #1,547
  • Apr 1, 2020 8:37am Apr 1, 2020 8:37am
Quoting Brixen
{quote} OK, I hold my small position from 9531,5. I have again a reliable internet connection and waiting for 9505/9555 range break....
9600 zone on the upside and then 9670/9690

while

9440/9460 zone on the down side
I call upon my father's spirit , watching over me
  • #1,548
  • Edited 8:58am Apr 1, 2020 8:41am | Edited 8:58am
Thanks. I suspected that, but never got to reading the fine print. It makes perfect sense for Brixen's style.
I think a broker would hunt you easily if you try to scalp a CFD (in general you can't win with that type of strat in a bucket shop).
  • #1,549
  • Apr 1, 2020 8:47am Apr 1, 2020 8:47am
Quoting Brixen
{quote} OK, I hold my small position from 9531,5. I have again a reliable internet connection and waiting for 9505/9555 range break....
closed at 9575 seconds ago
I call upon my father's spirit , watching over me
  • #1,550
  • Apr 1, 2020 8:48am Apr 1, 2020 8:48am
Quoting Brixen
{quote} closed at 9575 seconds ago
+43,5 pips DAX CFDs

I have again some internet disconnection. So I prefer to close my last position.
I call upon my father's spirit , watching over me
  • #1,551
  • Apr 1, 2020 8:59am Apr 1, 2020 8:59am
Quoting Caiuss
Thanks. I suspected that, but never got to reading the fine print. It makes perfect sense for Brixen's style. I think a broker would hunt you easily if you try to scalp a CFD (in general you can't with with that type of strat in a bucket shop).
i think they can't really do that, for several reasons. at least nowadays.. i think they live mostly from commissions/spread and from the fact that 75% of retailers lose money.
scalping, i'm actually doing that with the CFDs. if you mean by scalping, jumping in and cutting out 5 or 10 or 20 p mostly, sometimes more. positions open only for a very short time. it's possible but with slippage, etc. and yes if your stoploss is very close to the price, sometimes you see, it tick over just to get your SL, so that's probably what they do, but it's not moving price for 5 or 10 points just to get your stop. it's rather 1 point. therefore i use no stop.
rather like to trade like brixen but can't.
  • #1,552
  • Apr 1, 2020 9:24am Apr 1, 2020 9:24am
Quoting karuner
{quote} i think they can't really do that, for several reasons. at least nowadays.. i think they live mostly from commissions/spread and from the fact that 75% of retailers lose money. scalping, i'm actually doing that with the CFDs. if you mean by scalping, jumping in and cutting out 5 or 10 or 20 p mostly, sometimes more. positions open only for a very short time. it's possible but with slippage, etc. and yes if your stoploss is very close to the price, sometimes you see, it tick over just to get your SL, so that's probably what they do, but it's...
Yes, scalping means very tight stop and close profit. With OTC, if you're profitable, they loose money so they need to hedge your trade in the market. Let's ignore other CFD traders that happen to be trading with the same broker for now.

If you don't give them the time to hedge because you're too quick they'll widen the spread in the CFD (this is allowed) and will execute you 1-2-3 ticks out from the current price and will hit your orders.

This is also allowed and legit (if you read the fine print), because in CFD your broker *is* the market and they're the only MM quoting both the bid and the ask. And there's a reason why CFD is illegal in the US.

There are algos that specifically train to maximize your loss and you can't beat them. So, never scalp CFD or any OTC product because you will lose. Ask me how I know
  • #1,553
  • Apr 1, 2020 9:37am Apr 1, 2020 9:37am
Quoting Caiuss
{quote} Yes, scalping means very tight stop and close profit. With OTC, if you're profitable, they loose money so they need to hedge your trade in the market. Let's ignore other CFD traders that happen to be trading with the same broker for now. If you don't give them the time to hedge because you're too quick they'll widen the spread in the CFD (this is allowed) and will execute you 1-2-3 ticks out from the current price and will hit your orders. This is also allowed and legit (if you read the fine print), because in CFD your broker *is* the market...
yeah i know this, but all i can say is that it works for me, as long as i stick to disciplin and high probability entries. i'd prefer to trade eurex, but at the moment 5 eur/point is too much for me.
of course it's not ultra tight orderbookscalping for 1 or 2 points. inclusive spread i long for something like 10+ p

Quote
Ask me how I know
how :-D
  • #1,554
  • Apr 1, 2020 10:37am Apr 1, 2020 10:37am
Dax up by the stairs and down by the (fast) elevator - lift to us Europeans!
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Trading Levels with WRBs
  • #1,555
  • Apr 1, 2020 11:30am Apr 1, 2020 11:30am
Quoting Caiuss
{quote} Yes, scalping means very tight stop and close profit. With OTC, if you're profitable, they loose money so they need to hedge your trade in the market. Let's ignore other CFD traders that happen to be trading with the same broker for now. If you don't give them the time to hedge because you're too quick they'll widen the spread in the CFD (this is allowed) and will execute you 1-2-3 ticks out from the current price and will hit your orders. This is also allowed and legit (if you read the fine print), because in CFD your broker *is* the market...
No sl or wide only way with cfd
  • #1,556
  • Apr 1, 2020 11:46am Apr 1, 2020 11:46am
Quoting Pip-Miner
{quote} No sl or wide only way with cfd
People here could consider Micro Dow Futures and scale up from there. The brokers don't trade against you, so I am told.

https://www.cmegroup.com/trading/equ...-mini-dow.html
every Saint has a past. Every Sinner has a Future
  • #1,557
  • Apr 1, 2020 11:59am Apr 1, 2020 11:59am
Internet seem OK now (I hope so) so BACK TO TRADING:the battle is started now;9425 and down 9200 zone must defend this minor counter.uptrend, otherwise........
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I call upon my father's spirit , watching over me
  • #1,558
  • Apr 1, 2020 12:09pm Apr 1, 2020 12:09pm
Quoting karuner
{quote} it's OTC, a contract between you and the broker (Contract For Difference) to pay to the other side the difference between a) price when entering the contract and b) when closing the contract. they make their own prices but they are normally very close to the real prices you get at the exchange.
1. Yes, price is the same as DAX CASH INDEX (I mean in between ask/bid) but spread may change from broker to broker, I guess.

2. I set an automatic stop loss wide, very wide, let's say impossible to hit even in these wide and wild range we have these days.
So each of my order has a stop that broker can see but it's impossible to hit. Then, as most of you know, I don't use the stop loss, I always stay 100% focused on my trades and I take my losses (hopefully soft losses) when I'm wrong.

3.I totally agree on PipMiner idea to have no stop loss/very wide stop loss, but you MUST stay 100% time focused on your trades, small or big positions don't matter, you must stay totally focused.
I call upon my father's spirit , watching over me
  • #1,559
  • Apr 1, 2020 12:13pm Apr 1, 2020 12:13pm
Quoting Islander
Dax up by the stairs and down by the (fast) elevator - lift to us Europeans! {image}
Yes, the whole US session (US ADP data included) was dedicated to load the shorts and then just before the European Indices close 17:30CET they went down at the speed of light!!!
I call upon my father's spirit , watching over me
  • #1,560
  • Apr 1, 2020 12:20pm Apr 1, 2020 12:20pm
Tremiti Islands (Italy), in between Italy and Croatia, one of the rare place where are no infected cases on the 600 inhabitants!
(but on summer tourists are thousands and thousands, maybe not next summer......).

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I call upon my father's spirit , watching over me
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