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DAX Futures Sept 2020

  • #3,321
  • Sep 4, 2020 8:17am Sep 4, 2020 8:17am
Done my week:
mon +223
tue +423
wed +115
yd +747
today +168
TOTAL: +1676 pips FDXM.

Good weekend to all friends here.
I will post something form time, but I will restart my trades only on next tuesday.
I call upon my father's spirit , watching over me
  • #3,322
  • Sep 4, 2020 8:55am Sep 4, 2020 8:55am
Maybe you find some time to, you know... That long post few pages ago
  • #3,323
  • Sep 4, 2020 9:53am Sep 4, 2020 9:53am
Quoting Brixen
otherwise...the hell! {image}
  • #3,324
  • Sep 4, 2020 10:25am Sep 4, 2020 10:25am
Wery good trading week with a lot of possibilities of profitting. Hope all here got green pips. Finished with a lottery buy before employmentdata (tight stop loss!) and it paid off very very good. Maybe pure luck after seing this down movement. 12800 tempted but it is friday and no US action on monday.

And now to some friday food! A receipe i picked up in Sicily:

Tartare di tonno – tuna tartare
Hand chopped raw tuna seasoned with a litle bit dijon mustard and salt/peper. Freshly harvested vegestabels from the garten and a homemade pesto vinaigrette with the famous danish Apple Cider Vinnegar (Made by Mayer/Noma, 3 star Michellin).

Very big Blue Fin Tuna (+500 kg.) has arrived i Denmark and it seems they wil be staying here (climate change?). Last time it was living permenantly in DK was in 1965. But for now it is absolute not alowed to catch or eat the beutyfull fish.

Good weekend Brixen and all.
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You cant beat the MM - so join them!!!
  • #3,325
  • Sep 4, 2020 11:01am Sep 4, 2020 11:01am
Quoting Mahrgell
Maybe you find some time to, you know... That long post few pages ago
Look at this real time Mahrgell: they broken down 900 zone, so next station was 790 zone and then 725.
Around there I'd had bought something, waiting the counter minor trend wave that started from there . Now 900 zone is becoming resistance. Exactly as Swiss watch.
Anyway, I repeat again, ther's no exact science here. Every scenario may change in a while and we humans are not usual to change so rapidly, specially myself!!!
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I call upon my father's spirit , watching over me
  • #3,326
  • Sep 4, 2020 11:19am Sep 4, 2020 11:19am
Quoting Downey50
Wery good trading week with a lot of possibilities of profitting. Hope all here got green pips. Finished with a lottery buy before employmentdata (tight stop loss!) and it paid off very very good. Maybe pure luck after seing this down movement. 12800 tempted but it is friday and no US action on monday. And now to some friday food! A receipe i picked up in Sicily: Tartare di tonno – tuna tartare Hand chopped raw tuna seasoned with a litle bit dijon mustard and salt/peper. Freshly harvested vegestabels from the garten and a homemade pesto vinaigrette...
Good Downey, tuna from South Med Sea, N.1 imho. 1kg tuna spaghetti for 6 people always sold out on my table!!! And luckily we are not fat......
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I call upon my father's spirit , watching over me
  • #3,327
  • Sep 4, 2020 11:23am Sep 4, 2020 11:23am
Quoting karuner
{quote}
Hope you have reduced something this morning......
They were not able to overcome 13100 zone, 3 times they tried but it wasn't a day for longs today!
I call upon my father's spirit , watching over me
  • #3,328
  • Sep 4, 2020 11:25am Sep 4, 2020 11:25am
Quoting Mahrgell
Maybe you find some time to, you know... That long post few pages ago
OK next hours....I've just started with my previous post.
I call upon my father's spirit , watching over me
  • #3,329
  • Sep 4, 2020 11:28am Sep 4, 2020 11:28am
Quoting Brixen
{quote} Look at this real time Mahrgell: they broken down 900 zone, so next station was 790 zone and then 725. Around there I'd had bought something, waiting the counter minor trend wave that started from there . Now 900 zone is becoming resistance. Exactly as Swiss watch. Anyway, I repeat again, ther's no exact science here. Every scenario may change in a while and we humans are not usual to change so rapidly, specially myself!!! {image}
900 zone again right now.
From here, we can't rule out even a shorts squeeze until 13k.....or they willl load new short for a free fall US close.
I call upon my father's spirit , watching over me
  • #3,330
  • Sep 4, 2020 11:30am Sep 4, 2020 11:30am
Friday 31 July it seems the same as today.
More than 300 pts down, specially late afternoon and then.....
I call upon my father's spirit , watching over me
  • #3,331
  • Sep 4, 2020 4:05pm Sep 4, 2020 4:05pm
Quoting Brixen
{quote} Hi Steve, always interesting talking to you from your wonderful NZ. I hope all well for you and for your parents, I remember you were so worried early weeks of Covid explosion. I understand now your working situation and if I may, I guess it's a relief to have no kids at home to support, because I have many on my shoulders yet, while on the other hand it means that years are passing by unfortunately. I must be frank, as usual, about the topic you talked about it. .... Maybe not professional reply to you, but I feel good about this topic...
Thanks Brixen that was a great reply.

I perhaps should state the NZ tax position on Futures trading: it is treated just like any other income (eg a salary earned from employment). So my net trading result for the year is taxed as Income. If I had a net loss for the year, I would be able to offset it against other income earned (eg from salary) or carry forward that loss to the next tax year as long as I could show the Futures Trading activity can make money at some point ie if you had say five years of losses from trading the tax authorities could argue that activity has no real chance of making a profit and therefore deny me the ability to carny forward the losses. Any losses from trading can be offset against any other income that is taxable (eg interest earned or salary from employment). There is no concept of capital gains tax in NZ.

The current tax rates that apply to all income an individual earns (ie the sum of all income/losses from salary, trading, interest earned etc) is taxed at various marginal rates up to NZ$70k and thereafter any net income above $70k pa is taxed at 33%. So the maximum rate of tax on the next $ earned can never be more than 33%. As an example a total net income (from all sources) for the year of NZ$100k would have tax due of $23,920 ie an average tax rate of 23.9%. Currently NZ$1.00 buys about Euro$0.57.

I hope you are right re the FTT.

Do you have any fallback profession you would go back to if say a FTT made trading nonviable?

PS: enjoy your long weekend. I will probably still trade Monday on the HKFE as it may well not be impacted by the US holiday - in fact it may get a few more US players trading it given it is their Sunday evening and their own markets wont have opened for the week due to the US holiday on Monday.
  • #3,332
  • Sep 5, 2020 4:23pm Sep 5, 2020 4:23pm
Quoting steve2222
{quote} Thanks Brixen that was a great reply. I perhaps should state the NZ tax position on Futures trading: it is treated just like any other income (eg a salary earned from employment). So my net trading result for the year is taxed as Income. If I had a net loss for the year, I would be able to offset it against other income earned (eg from salary) or carry forward that loss to the next tax year as long as I could show the Futures Trading activity can make money at some point ie if you had say five years of losses from trading the tax authorities...
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Fallback profession if FTT made trading nonviable?
You scared me with this question Steve.....

Anyway,

1st of all on worst case scenario FTT: we have to check when and what is included, so I guess we have time to evaluate when and what we could do as today or not. We are talking on futuristic way, let's say Metals are out, so let's start trading silver and gold.

2nd if worst scenario become a nightmare for me, for us, I will probably try to become an Amazon slave, or a truck/van driver, a car sharing driver or I will become partner in my eldest son start up real estate smal small company, taking into account that the funds to start are coming from my pockets and not from a Bank. For this reason I worked as a dog under the hot sun for weeks this summer, while at the same time I was trading the wild horse.

In the end Steve, better to do not think too much about this possibly event.
Last time I was scared by this FTT was a decade ago, and nothing or very small things have changed on last 10 years on trading taxation.
So, as Lorenzo de Medici in Firenze wrote 1492.....let us enjoy for the present (as I did today at
the sea here below) because nothing's sure about tomorrow for anyone, taxation or not taxation!
Good weekend to you too Steve and see you here next.
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I call upon my father's spirit , watching over me
  • #3,333
  • Sep 5, 2020 4:26pm Sep 5, 2020 4:26pm
Quoting Mahrgell
Maybe you find some time to, you know... That long post few pages ago
Post # 1631 and #3050 my previous journal DAX Futures JUNE 2020.

To be continued. next post.......
I call upon my father's spirit , watching over me
  • #3,334
  • Sep 6, 2020 3:25am Sep 6, 2020 3:25am
Quoting Mahrgell
Maybe you find some time to, you know... That long post few pages ago
3 September afternoon M1 chart for you Mahrgell here below, I guess it's a good example.
Anyway:
1. Basically my performances were good last years because losses are not allowed on my trading style, so my positions keep on fighting until potential losses will become gains. I'm aware that this is a dangerous behavior and one day I will pay for this, as happened a couple of weeks last years. exaclty 3 weeks since 2017.
2. Money mgmt between, DAX CFDs, FDXM and some time FDAX is crucial for this trading style. Then I need to stay close to current price, adding+scaling out the most I can.
3. At least 1rd my previous gains are saved in NO TRADING account , and luckily they remain there as I was able to recover by myself all 3 weeks losses I had last years.
4. I'm not proud of my current syle, I'm working to improve it (price levels were added last months for instance) and I'm aware that a large capital (at least for my parameter) is needed to trade this way. Finally I do not recommend to anyone to trade this way.
5. I don't care if I'm good or not in trading, if I'm right or wrong. I urgently need to take a piece of the cake every day to bring to my family, as I run a large family with this wild horse trading, and I currently have no other options in my life than to succeed here.
Mahrgell I guess it's enough for a decent reply....what do you think about it? OK, now I can back to the sea......
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I call upon my father's spirit , watching over me
  • #3,335
  • Sep 6, 2020 6:11am Sep 6, 2020 6:11am
Quoting Brixen
{quote} 3 September afternoon M1 chart for you Mahrgell here below, I guess it's a good example. Anyway: 1. Basically my performances were good last years because losses are not allowed on my trading style, so my positions keep on fighting until potential losses will become gains. I'm aware that this is a dangerous behavior and one day I will pay for this, as happened a couple of weeks last years. exaclty 3 weeks since 2017. 2. Money mgmt between, DAX CFDs, FDXM and some time FDAX is crucial for this trading style. Then I need to stay close to current...
Hey mate ,
1 if your trading style works for you keep doing it . From what I’ve seen you recover your losses within a few days anyway and they hardly ever happen .
2 Be proud of your style it’s different and unique to your personality which is popular here, mixed in with the rock and Mediterranean life style most would love to have.
3 It may be unorthodox but not many people come close to your gains. A large account is required , experience and mental toughness only years of experience can provide
4 you do tell people not to follow you so there is no issues and it’s a journal anyway.
  • #3,336
  • Edited 3:41pm Sep 6, 2020 3:09pm | Edited 3:41pm
Just some sunday gut fealings. If i am wrong i learn . if i am right i learn. I cant loose on this setup .
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You cant beat the MM - so join them!!!
  • #3,337
  • Sep 6, 2020 4:59pm Sep 6, 2020 4:59pm
Quoting Pip-Miner
{quote} Hey mate , 1 if your trading style works for you keep doing it . From what I’ve seen you recover your losses within a few days anyway and they hardly ever happen . 2 Be proud of your style it’s different and unique to your personality which is popular here, mixed in with the rock and Mediterranean life style most would love to have. 3 It may be unorthodox but not many people come close to your gains. A large account is required , experience and mental toughness only years of experience can provide 4 you do tell people not to follow you so...
1. Yes, of course, no need to change, but I must take into serious account warning signals that sometimes happen and try to improve method and avoid some usual mistakes.
2. Maybe I could be proud what I've done in my life so far, family, respect and reputation I have from many people around, not for a trading style.
1st of all to be a good man every day and to have strong values as a person (and it's not easy for everyone, me included of course) then, only after, to be a decent worker, a decent trader.
3, I spent so many weeks, so many years to have a large trading account, that every time I shot some order....I only wait it to come back home safely, possibly with some gain included.
4. You know, sometimes I feel responsible to do not create false expectations on this job, specially on rookies here.
The same responsability I feel as a father, maybe this sound a little bit weird......but you know , I'm a little bit naive yet after so many years

Ciao PipMiner, see you next, summer seems want lasts forever here and I hope it's coming strongly down under for you and your people.
I call upon my father's spirit , watching over me
  • #3,338
  • Sep 6, 2020 5:10pm Sep 6, 2020 5:10pm
Quoting Downey50
Just some sunday gut fealings. If i am wrong i learn . if i am right i learn. I cant loose on this setup . {image}
Last 2 times we had US on holiday on 2020, DAX moved for 300 and for 200 pts day range, so not as usual on 2019 and years before a boring, strict narrow day trade.
Your scenario makes sense, but prices must regain 910/920 zone to start a recovery, otherwise below that zone, almost sure retest 790 zone. We'll see tomorrow.....
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I call upon my father's spirit , watching over me
  • #3,339
  • Sep 7, 2020 1:40am Sep 7, 2020 1:40am
Placed some DAX CFDs buy orders 85..86..zone, few orders. Then around 810/790.
As I previously wrote last week 725 zone could be another good entry point and around there I probably start some FDXM buy orders + DAX CFDs.

Strange day today: they can push prices wherever they want, they can frozen markets, they can do what they wish. 600/650 zone the lows last month.

On the upside only stable prices above 910/920 zone will change the scenario, looking for 13080 zone, after psychological 13k resistance.
I call upon my father's spirit , watching over me
  • #3,340
  • Sep 7, 2020 2:04am Sep 7, 2020 2:04am
Quoting Brixen
Placed some DAX CFDs buy orders 85..86..zone, few orders. Then around 810/790. As I previously wrote last week 725 zone could be another good entry point and around there I probably start some FDXM buy orders + DAX CFDs. Strange day today: they can push prices wherever they want, they can frozen markets, they can do what they wish. 600/650 zone the lows last month. On the upside only stable prices above 910/920 zone will change the scenario, looking for 13080 zone, after psychological 13k resistance.
Waiitng until 10 CET to check if something has been triggered. Then I will not stand in front of Pc for the rest of the day, if they will be triggered I hold them no problem. I mean DAX CFDs.
Anyway real games only starting tomorrow.
I call upon my father's spirit , watching over me
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