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Carpe diem: Intraday tactics for Dax and Dow

  • #5,141
  • Feb 10, 2015 12:02am Feb 10, 2015 12:02am
Quoting capetown
{quote} I am waiting to short at 10740 Foot Print and also 27,20% to short pictures are here {image}
Hey Capetown,
Hope you get filled, but even better if you change your mind to short lower
Cheers
  • #5,142
  • Feb 10, 2015 12:14am Feb 10, 2015 12:14am
Quoting Motfund
{quote} Hey Capetown, Hope you get filled, but even better if you change your mind to short lower Cheers
willsee, but it is really lower now good trade..forYou congrats..
I am going to take Karmo's patience pills
  • #5,143
  • Feb 10, 2015 12:25am Feb 10, 2015 12:25am
Quoting capetown
{quote} willsee, but it is really lower now good trade..forYou congrats.. I am going to take Karmo's patience pills
Thanks Capetown,
Stop to entry price now and stop TP not fixed yet, I will adjust manually and maybe scale out progressively.
  • #5,144
  • Feb 10, 2015 12:46am Feb 10, 2015 12:46am
Quoting Motfund
{quote} Thanks Capetown, Stop to entry price now and stop TP not fixed yet, I will adjust manually and maybe scale out progressively.
great job...
I did not get filled and made one mistake again.....did not look at PA chart....nice entry on 10708
Attached Image (click to enlarge)
Click to Enlarge Name: kurnava.jpg Size: 85 KB
  • #5,145
  • Feb 10, 2015 12:57am Feb 10, 2015 12:57am
And now they broke 10600 took all the SL and went back to 10615 and etc....in one second....amazing DAX.....
  • #5,146
  • Feb 10, 2015 1:01am Feb 10, 2015 1:01am
Scaled out half on 10633, keeping other half with stop still on 699;
See you later.
Good trades to all
  • #5,147
  • Feb 10, 2015 1:12am Feb 10, 2015 1:12am
For me we've seen the low of the morning/day, and now we're into some messy stuff for awhile.
  • #5,148
  • Feb 10, 2015 1:28am Feb 10, 2015 1:28am
Quoting cat
For me we've seen the low of the morning/day, and now we're into some messy stuff for awhile.
Jaja
Correct till we break up , I will go out for while..ciao
  • #5,149
  • Feb 10, 2015 1:46am Feb 10, 2015 1:46am
Quoting cat
For me we've seen the low of the morning/day, and now we're into some messy stuff for awhile.

I agree.

A quick question- do you use fixed targets and stops like deltaone does? and Move stop to breakevens say when your trade is in a certain number of pips profit??

Cheers
  • #5,150
  • Feb 10, 2015 1:57am Feb 10, 2015 1:57am
Quoting Cprice76
{quote} I agree. A quick question- do you use fixed targets and stops like deltaone does? and Move stop to breakevens say when your trade is in a certain number of pips profit?? Cheers
I use fixed targets, but do not use an arbitrary points target like he does, I look for technical levels which I think the price will head for. My stops depend upon the volatility, so for example, if I only need to use a 10 pip stop, then I will, but sometimes I will need to use a bigger stop, though it is rarely wider than 20 pips for my sort of trading off of small time frames.

Oh yes, and I halve my stop loss when I get to 10 pips, and move it to break even when I am 20 pips in the clear, usually.
  • #5,151
  • Feb 10, 2015 2:03am Feb 10, 2015 2:03am
Quoting cat
{quote} I use fixed targets, but do not use an arbitrary points target like he does, I look for technical levels which I think the price will head for. My stops depend upon the volatility, so for example, if I only need to use a 10 pip stop, then I will, but sometimes I will need to use a bigger stop, though it is rarely wider than 20 pips for my sort of trading off of small time frames. Oh yes, and I halve my stop loss when I get to 10 pips, and move it to break even when I am 20 pips in the clear, usually.

Ah thank.I am just looking at different trade management set ups.I cannot tell if in the long term moving stop to breakevens is the better way to go- I bet this topic could be discussed until the cows come home!!??

Also, if you have a stop of 10/20 pips how many pips are you looking for as a target approx?? 40? 50? 60?

Col.
  • #5,152
  • Feb 10, 2015 2:11am Feb 10, 2015 2:11am
Quoting Cprice76
{quote} Ah thank.I am just looking at different trade management set ups.I cannot tell if in the long term moving stop to breakevens is the better way to go- I bet this topic could be discussed until the cows come home!!?? Col.
My own experience is that it is always best to safeguard your account as best you can, which means moving your stop to BE as soon as you have a comfortable buffer, otherwise you'll be turning healthy looking winning trades, which for me is anything in excess of 20 pips, into losers, which is unacceptable. If the trade is a good on, with the right entry, then it'll move away from your SL nicely, and if it comes back and knocks you out at BE, so what, you just get ready for the next trade.
  • #5,153
  • Feb 10, 2015 2:17am Feb 10, 2015 2:17am
Quoting cat
{quote} My own experience is that it is always best to safeguard your account as best you can, which means moving your stop to BE as soon as you have a comfortable buffer, otherwise you'll be turning healthy looking winning trades, which for me is anything in excess of 20 pips, into losers, which is unacceptable. If the trade is a good on, with the right entry, then it'll move away from your SL nicely, and if it comes back and knocks you out at BE, so what, you just get ready for the next trade.

I agree there entirely.After all risk management is the key in this game!!

As I asked before if risking a stop of 10/20 pips how many pips do you look for ( on average ) per trade? I generally work to 1:4 risk/reward.

Col
  • #5,154
  • Feb 10, 2015 2:30am Feb 10, 2015 2:30am
Quoting Cprice76
{quote} I agree there entirely.After all risk management is the key in this game!! As I asked before if risking a stop of 10/20 pips how many pips do you look for ( on average ) per trade? I generally work to 1:4 risk/reward. Col
I ignore risk/reward. If I have a nice set up that looks like it's going to give me 20 pips with a 10 pip SL, I'll take it. I used to make the mistake of looking at a potential trade thinking to myself, ' there aren't going to be enough pips in this one, so better leave it', and then it would go on to make 60 pips. If the set up is right, go for it, if it isn't, leave it. It's that simple.
  • #5,155
  • Feb 10, 2015 3:11am Feb 10, 2015 3:11am
Quoting cat
{quote} I ignore risk/reward. If I have a nice set up that looks like it's going to give me 20 pips with a 10 pip SL, I'll take it. I used to make the mistake of looking at a potential trade thinking to myself, ' there aren't going to be enough pips in this one, so better leave it', and then it would go on to make 60 pips. If the set up is right, go for it, if it isn't, leave it. It's that simple.

I dont understand what you are saying there as regerads leaving th etrades? You mean you leave it now looking for more pips or you take it regardless when you are in profit by 20/30 pips??
Another question- on average how many trades do you conduct a day? I do around 3.

Col.
  • #5,156
  • Feb 10, 2015 3:21am Feb 10, 2015 3:21am
Quoting cat
{quote} I ignore risk/reward. If I have a nice set up that looks like it's going to give me 20 pips with a 10 pip SL, I'll take it. I used to make the mistake of looking at a potential trade thinking to myself, ' there aren't going to be enough pips in this one, so better leave it', and then it would go on to make 60 pips. If the set up is right, go for it, if it isn't, leave it. It's that simple.
Very well written and concluded, CAT That is the way to trade. And stick to your trading plan in set-up.
Trade Your P/L, Trade the Market. Manage your Risk.
  • #5,157
  • Feb 10, 2015 3:32am Feb 10, 2015 3:32am
Quoting Motfund
Scaled out half on 10633, keeping other half with stop still on 699; See you later. Good trades to all
Been stopped on entry point for the last half, Cat and Capetown you were right.
Now looking for new entry for another short today.
Good trades to all
  • #5,158
  • Feb 10, 2015 3:38am Feb 10, 2015 3:38am
S 10688 SL 15 tp 10671 - likely to bounce on 1m 200MA - whats everyones view ??


SL hit
  • #5,159
  • Feb 10, 2015 3:42am Feb 10, 2015 3:42am
Quoting twellve
S 10688 SL 15 tp 10671 - likely to bounce on 1m 200MA - whats everyones view ??
Just joined on you short 90 but wider sl and tp. Not fixed yet.
A bit early in my opinion, let's see.
See you later.
  • #5,160
  • Feb 10, 2015 4:06am Feb 10, 2015 4:06am
Quoting Cprice76
{quote} I dont understand what you are saying there as regerads leaving th etrades? You mean you leave it now looking for more pips or you take it regardless when you are in profit by 20/30 pips?? Another question- on average how many trades do you conduct a day? I do around 3. Col.
I'll try and explain. If you are a multi time-frame trader like I am, each time frame gives its own picture, in isolation as it were, but together, they also form a whole, in that I can see what is happening on my 10 second time frame and how it related to my minute TF, but the further out I go, the less it corresponds. So My 5 min, 20 min and hour time frames may be showing nothing at all in terms of a trading opportunity, but I have a nice signal to trade on my 10 second chart, supported by the minute chart, with an MA on say the 5 or 20 min chart, or even just a TP level on my 1 min chart, that I will aim for, which could be 20, 30 or more pips. If my higher frames indicate that for now, this is as far as the price is likely to go, then I will close the trade. There will be other occasions where I will want to keep the trade open for longer if it looks like the price could be in for a good run. It is all very open-ended, I have my rules, but the market does not like rules, and so you must be prepared to go with the flow. I define what I consider to be the necessary requisite for a trade, and if the price conforms to it, I take the trade - I'll wait for x to cross y or whatever, I'll look for a signal in a candle close, and if I'm satisfied, I pull the trigger, but I always have a pretty fixed idea in my mind of where I am expecting the price to go. You can do no more than that, sometimes it falls short, sometimes it exceeds expectations. The important thing for me though is - if it looks good, take it, and don't worry too much about where it's going to go, because most of the time, we don't know. In terms of the number of trades in a day, it depends. It can just be one or two, or it can be a lot more.

I hope my rather convoluted answer to your question makes some sense.



I hope this rather convoluted
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