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  • #201
  • Sep 11, 2020 2:06am Sep 11, 2020 2:06am
tempted to buy dax but the daily candles look tricky to build a directional bias.
  • #202
  • Sep 11, 2020 2:21am Sep 11, 2020 2:21am
Quoting goldfish3
{quote} closed. Will decide entry after MPP decides what it wants to do
pending buy AU on retrace above MPP
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  • #203
  • Edited 2:38am Sep 11, 2020 2:21am | Edited 2:38am
DAX - long above D-PP

EDIT: 50% closed at D-R1 +65
EDIT: 50% Closed SL +21

Attached Image (click to enlarge)
Click to Enlarge Name: DAX 20-09-11 A.png Size: 30 KB

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Find out more about trading with Pivot Prof follow this link ► Pivot Prof - Trading An Edge
  • #204
  • Sep 11, 2020 2:22am Sep 11, 2020 2:22am
Quoting goldfish3
tempted to buy dax but the daily candles look tricky to build a directional bias.
I waited to see what the FTSE did with D-R1 before taking the DAX trade
  • #205
  • Sep 11, 2020 2:24am Sep 11, 2020 2:24am
Quoting MaxDoom
{quote} I waited to see what the FTSE did with D-R1 before taking the DAX trade
Max what is the correlation here between ftse and dax?

if money flows into ftse we can expect money to flow into dax?
  • #206
  • Sep 11, 2020 2:32am Sep 11, 2020 2:32am
Quoting goldfish3
{quote} Max what is the correlation here between ftse and dax?
Considering the make up of the DAX companies you would think not a lot, but the indicies tend to price as a pack these days probably due to II algo trading. So a drop on one generally means a drop on another - and this gets refined further at the futures level because you don't need the stocks to actually trade to change a price in the future. and of course it is a future or derivative that we trade for indicies.

In practical terms this can help in the mornings (UK) it can be worth comparing DAX & FTSE if one is sitting below a level then it often means the other will struggle to rise until the level is broken. In the afternoon it is worth adding in the S&P to the equation.
  • #207
  • Sep 11, 2020 3:02am Sep 11, 2020 3:02am
Quoting MaxDoom
{quote} Considering the make up of the DAX companies you would think not a lot, but the indicies tend to price as a pack these days probably due to II algo trading. So a drop on one generally means a drop on another - and this gets refined further at the futures level because you don't need the stocks to actually trade to change a price in the future. and of course it is a future or derivative that we trade for indicies. In practical terms this can help in the mornings (UK) it can be worth comparing DAX & FTSE if one is sitting below a level then...
I think i understand what you mean. ill have to observe the indexes a bit more to be clear on what you just said. I havent traded indexes on margin at all until i joined the group here a few days ago so im still quite new to them.

Although could you help me understand what you mean when you say futures. Because while we trade CFD's on these indices, they are not futures contracts? they are ultimately still indices that we are speculating on. they are derivative, but they are not derivatives like options or forward contracts. we are still betting on the index itself are we not? which would be spot index?
  • #208
  • Sep 11, 2020 3:08am Sep 11, 2020 3:08am
Quoting goldfish3
{quote} pending buy AU on retrace above MPP {image}
active
  • #209
  • Sep 11, 2020 3:20am Sep 11, 2020 3:20am
Quoting MaxDoom
{quote} Considering the make up of the DAX companies you would think not a lot, but the indicies tend to price as a pack these days probably due to II algo trading. So a drop on one generally means a drop on another - and this gets refined further at the futures level because you don't need the stocks to actually trade to change a price in the future. and of course it is a future or derivative that we trade for indicies. In practical terms this can help in the mornings (UK) it can be worth comparing DAX & FTSE if one is sitting below a level then...
look like DAX could hit 13280 soon, ok ok too optimistic ... but maybe 13250
  • #210
  • Sep 11, 2020 3:22am Sep 11, 2020 3:22am
Quoting goldfish3
{quote} I think i understand what you mean. ill have to observe the indexes a bit more to be clear on what you just said. I havent traded indexes on margin at all until i joined the group here a few days ago so im still quite new to them. Although could you help me understand what you mean when you say futures. Because while we trade CFD's on these indices, they are not futures contracts? they are ultimately still indices that we are speculating on. they are derivative, but they are not derivatives like options or forward contracts. we are still...
sure, but you got to keep up

An index is a list of a certain group of traded companies.
When we say FTSE we are really saying the FTSE 100 because there are actually many more than 100 companies in the FTSE.
The value of the FTSE (FTSE100) is simply the combined share price of the 100 companies.
The FTSE like other indexes only trades set hours 08:00 to 16:30

When you trade say £10 per point on the FTSE you are most likely entering a CFD with your broker.
When you close out (assume +ve) for £1000 your broker will not want to give you that out of his own pocket.
The broker cannot practically buy X shares in each of the 100 companies to match your £10 a point stake, apart from anything else the cost of trading would be very high. So instead he will buy a futures contract(s) to an equal value because these a readily available and are traded for longer hours which is why you can trade the FTSE when the markets are not actually open.
So your chart will actually be a CFD price of a futures contract (they normally choose the nearest contract date).

Some brokers will vary this model slightly and offer a continuous price model but they are changing out the futures contracts behind the scenes.
Most brokers will sum up their total client CFD exposure on an instrument and maintain futures contracts just for the difference, that way they make 100% of all the spreads.

see simple
  • #211
  • Edited 4:02am Sep 11, 2020 3:25am | Edited 4:02am
DAX - LONG above D-PP

EDIT: SL -9

Attached Image (click to enlarge)
Click to Enlarge Name: DAX 20-09-11 B.png Size: 33 KB

Find out more about trading with Pivot Prof follow this link ► Pivot Prof - Trading An Edge
  • #212
  • Sep 11, 2020 3:28am Sep 11, 2020 3:28am
Quoting ntk
{quote} look like DAX could hit 13280 soon, ok ok too optimistic ... but maybe 13250
maybe, it's not too far away
  • #213
  • Sep 11, 2020 3:41am Sep 11, 2020 3:41am
Quoting goldfish3
{quote} active
closed half here +10
  • #214
  • Sep 11, 2020 3:45am Sep 11, 2020 3:45am
Quoting MaxDoom
{quote} sure, but you got to keep up An index is a list of a certain group of traded companies. When we say FTSE we are really saying the FTSE 100 because there are actually many more than 100 companies in the FTSE. The value of the FTSE (FTSE100) is simply the combined share price of the 100 companies. The FTSE like other indexes only trades set hours 08:00 to 16:30 When you trade say £10 per point on the FTSE you are most likely entering a CFD with your broker. When you close out (assume +ve) for £1000 your broker will not...
ohh okay. i see your point. totally understood.

so the cfd im trading is essentially a position taken on the broker who is in a futures contract.

makes sense.
  • #215
  • Sep 11, 2020 4:27am Sep 11, 2020 4:27am
Quoting goldfish3
{quote} 50% off at +50. perhaps a bit hasty. rest to run
added more to the short.

so far risked 2% and made 2% on top. risking today's take on S&p bearishness
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  • #216
  • Sep 11, 2020 5:12am Sep 11, 2020 5:12am
tempted to trade EU but confused on direction
  • #217
  • Edited 5:30am Sep 11, 2020 5:19am | Edited 5:30am
DAX SHORT below D-Open

EDIT: Closed BE no momentum ATM


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  • #218
  • Sep 11, 2020 5:31am Sep 11, 2020 5:31am
Quoting MaxDoom
DAX SHORT below D-Open EDIT: Closed BE no momentum ATM {image} Find out more about trading with Pivot Prof follow this link ► Pivot Prof - Trading An Edge
agreed. its slow today
  • #219
  • Sep 11, 2020 5:35am Sep 11, 2020 5:35am
DAX tricky on D1 charts. but perhaps there is a buy at the retrace here on DPP
  • #220
  • Sep 11, 2020 5:45am Sep 11, 2020 5:45am
NU short DR1.
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