this thread is dedicated to the daytraders of dax and dow, scalpers are welcome.
rule no. 1) posting trades after they are closed is an absolute no go (like "i got long this morning, hours later i made profit.")
rule no. 2) if you have a trade idea, please be so kind and post long entry/short entry, sl and tp before entering the market or within minutes after doing so.
rule no. 3) make sure that it is clear for others which market you are trading (cash or future), and which instrument you are using (cfds/futures/options).
rule no. 4) please state a reason for your trade idea. charts are welcome, but not a must.
although the focus of this thread is on the mentioned indices above, trade ideas related to their components are also welcome, especially when they are event-driven.
good luck - viel erfolg!
Edit: when i started „carpe diem – intraday tactics for dax and dow“ in 2014 as an interactive trading thread , it had two objectives:
1) leading by example in order to prove that consistent profitable daytrading is possible.
2) to see other traders live trade calls.
it was never intended to be a trading system thread nor a trading dicsussion one. although iīm not a fan of long postings and not in the education business, i know for sure that my way of trading inspired other traders – and a handful of them influenced me vice versa. this thread has more than 10 million views.
i donīt know any other member with more live trade calls on ff (correct me if iīm wrong). over the years, iīve received many pmīs with questions. some questions where intelligent, others not.
in any case, this is not a trading manual cause there are many ways to do daytrading.
to whom it may concern:
1) basics
the real traders here are rare. most of them, esp. the hindsight gurus either post with a big time lag and/or only winners. others are hiding their huge drawdowns. those members see their membership here like a second life financial avatar in order to find compensation for their lousy lifes irl in form of likes/subscribers. they need attraction and they want followers to hail and praise them day in and out, posting on weekends, even on holidays. many use retail tools designed for retail fools (like mt4/mt5) and believe in foolish trading techniques like martingales or what they call „hedging“ = being long and short in the same underlying with the same instrument at the same time which is no hedging in professional terms.
advice: stay away from 100% win rate liars and martingale freaks or hedging maniacs. no professional trader is doing so. be careful when you see a guru stopping his non-stop posting, followed by silence or soap stories, especially with posted open positions: no smoke without fire!
specialise on one market and learn as much as possible about the specifics: which news/fundamentals drive this market, at which times high volume is generated. which are the main players. are there special events that repeat over time etc.
2) broker/entries and exits/money management
a) chose a well regulated broker, at best one where you can use your stocks portfolio as a collateral for your margin trading. take a look at broker reviews. avoid brokers that offer bonus for deposit. stay away from low regulated offshore brokers. be sure your deposit is secured by a protection sceme. donīt use extreme high leverage even if itīs offered.
b) entries are by nature technical for a daytrader - beside big news. levels of interest i use: todays open/yesterdays high/low/close, daily pivots, brns. candle stick patterns on 1m/5m chart. bulkowskis work might be helpful. no spoon-feeding here: if you are eager to learn more, read my post on carpe diem. as long as price is above 200d-line, your bias should be bullish.
c) use only money for your trading that you can loose without any harm of your every day life and long term financial goals. use a maximum loss budget for the day (f.e. -5% of your trading capital) and the week (f.e. -10%). stop trading for the day/week if budget is reached. all orders should have at minimum a hard sl at the beginning. try to avoid open orders before big news release if you donīt know much about economics. taking event-risk is not a job for newbies. start with a sl that equals lets say 1% per trade in order to protect your trading capital and to survive shocks/black swan events. set tp with a good rrr like -10/+30, -20/+60. close all orders at the end of the trading day: next day, new chances! if you feel the heat of a loosing position or a bad run, your position might be too big for your mental strength – you should reduce size. if you are in a bad situation, ask yourself if you would enter the same trade at actual price level again because your scenario is still valid. if not, close it.
hope that helps…
rule no. 1) posting trades after they are closed is an absolute no go (like "i got long this morning, hours later i made profit.")
rule no. 2) if you have a trade idea, please be so kind and post long entry/short entry, sl and tp before entering the market or within minutes after doing so.
rule no. 3) make sure that it is clear for others which market you are trading (cash or future), and which instrument you are using (cfds/futures/options).
rule no. 4) please state a reason for your trade idea. charts are welcome, but not a must.
although the focus of this thread is on the mentioned indices above, trade ideas related to their components are also welcome, especially when they are event-driven.
good luck - viel erfolg!
Edit: when i started „carpe diem – intraday tactics for dax and dow“ in 2014 as an interactive trading thread , it had two objectives:
1) leading by example in order to prove that consistent profitable daytrading is possible.
2) to see other traders live trade calls.
it was never intended to be a trading system thread nor a trading dicsussion one. although iīm not a fan of long postings and not in the education business, i know for sure that my way of trading inspired other traders – and a handful of them influenced me vice versa. this thread has more than 10 million views.
i donīt know any other member with more live trade calls on ff (correct me if iīm wrong). over the years, iīve received many pmīs with questions. some questions where intelligent, others not.
in any case, this is not a trading manual cause there are many ways to do daytrading.
to whom it may concern:
1) basics
the real traders here are rare. most of them, esp. the hindsight gurus either post with a big time lag and/or only winners. others are hiding their huge drawdowns. those members see their membership here like a second life financial avatar in order to find compensation for their lousy lifes irl in form of likes/subscribers. they need attraction and they want followers to hail and praise them day in and out, posting on weekends, even on holidays. many use retail tools designed for retail fools (like mt4/mt5) and believe in foolish trading techniques like martingales or what they call „hedging“ = being long and short in the same underlying with the same instrument at the same time which is no hedging in professional terms.
advice: stay away from 100% win rate liars and martingale freaks or hedging maniacs. no professional trader is doing so. be careful when you see a guru stopping his non-stop posting, followed by silence or soap stories, especially with posted open positions: no smoke without fire!
specialise on one market and learn as much as possible about the specifics: which news/fundamentals drive this market, at which times high volume is generated. which are the main players. are there special events that repeat over time etc.
2) broker/entries and exits/money management
a) chose a well regulated broker, at best one where you can use your stocks portfolio as a collateral for your margin trading. take a look at broker reviews. avoid brokers that offer bonus for deposit. stay away from low regulated offshore brokers. be sure your deposit is secured by a protection sceme. donīt use extreme high leverage even if itīs offered.
b) entries are by nature technical for a daytrader - beside big news. levels of interest i use: todays open/yesterdays high/low/close, daily pivots, brns. candle stick patterns on 1m/5m chart. bulkowskis work might be helpful. no spoon-feeding here: if you are eager to learn more, read my post on carpe diem. as long as price is above 200d-line, your bias should be bullish.
c) use only money for your trading that you can loose without any harm of your every day life and long term financial goals. use a maximum loss budget for the day (f.e. -5% of your trading capital) and the week (f.e. -10%). stop trading for the day/week if budget is reached. all orders should have at minimum a hard sl at the beginning. try to avoid open orders before big news release if you donīt know much about economics. taking event-risk is not a job for newbies. start with a sl that equals lets say 1% per trade in order to protect your trading capital and to survive shocks/black swan events. set tp with a good rrr like -10/+30, -20/+60. close all orders at the end of the trading day: next day, new chances! if you feel the heat of a loosing position or a bad run, your position might be too big for your mental strength – you should reduce size. if you are in a bad situation, ask yourself if you would enter the same trade at actual price level again because your scenario is still valid. if not, close it.
hope that helps…
fortis fortuna adiuvat
