ALSI 40 Index - Trading the South African All Share Index

Will she break 600 or will she turn?

OK, small rejection at R1 but maybe today is a day for R2.

Nice little +30 to start my DAX day...
Am I allowed to flame brokers in here?

You wouldn't be the first HP

There goes 600, looking for a retest and she could fly

Ha no, I don't want to bring down the tone but I have just had the most extraordinary experience with a rather large broker, who I suspect have my account (as its a small one) in the bucket shop category. True story.

I have just been given a 'lesson' in what its like to be a desktop/retail user...the old 'price is coming from liquidity providers'. Never mind that I just so happen to be watching the exchange!

On the upside I've met personally with the European VP who has already promised to call. Quite extraordinary.

EDIT: In context, I am a 'licensed' trader with my usual broker in Denmark, and have become accustomed to the price on my screen matching the price on my trading platform (when I split the two as certain instruments I can trade on the chart). I'd forgotten what its like to be quoted a price and then filled 16 ticks, yes folks you read it here first, 16 ticks off the price I was quoted!

Certainly no hold up through 600!!

DAX is a good girl, tests 600 and off she flies!

HP, how do you play the DAX in this situation. There are no levels above 600. Price is at 75% of ADR, but could definitely go a bit further. Move position to BE and hold?

I work on a fixed stop and TP, then re-enter on the deep retracements to the 300 EMA and go again. In this case, I can't give you any advice as my trading system works on the basis that I have an excellent R:R, and profit is only as good as what I have closed and has hit my account. Days like today its hard not to look lovingly at the chart and regret taking the Profit level, but, it means I will do it again tomorrow, and the next day and the next.

Simon if you have any thoughts given your rather more extensive experience of this index it would be great...

If it soothes anyones pain, my first buy was at 08:03 and I got in at 539...(HOWEVER THATS NOT THE FILL I GOT!!!) - Anyone notice I am annoyed?
But I banked a solid 30 at my first reasonable lot size. So it feels good. Even if I'm mad with the broker concerned...

Today is all about the fundamentals. As long as Draghi doesn't drop any unexpected bombshells the QE is going to keep pushing the DAX higher. R2 is a reasonable target today. I always TP at +30 and once I hit +30 for the day I stop trading. Today I broke this rule and took +30 X 2 just because DAX is screaming long atm. Should stick to my rules though, DAX has a habit of whipping my arse when I think I know what I am doing

Thanks for the input HP & simtrad.

I just laughed...I'm SURE we spoke about this yesterday!!?!

Hehe, rules are made to be broken . That'll probably be the epitaph on my paupers grave!!

ALSI: Well the ALSI continues to range with the most spectacular pattern, giving us another 3 x 80 pips without breaking a sweat. Sadly, I wasn't in them before I try to absorb praise. But, it does what it says on the tin.

Given up 200+ pips today and its quite literally at exactly the level it opened on, having run short and long to almost the pip of the 50% level. Again, this is the pony to ride.
Sadly on the DAX I have run out of space to plot my levels as this run up has turned my maths on its tit. But, the good news is its a steady runner. I'm up +30, which we agreed some time ago was a reasonable target and I can be content with the days trading.

DAX has hit R2 as I thought it might. Daily range is at 100% now but it looks like it wants to keep going. Interesting to see where this can go.

Hi anyone can share a good ADR mt4 indicator for DAX? thanks!

Here you are

The DAX was a beauty today. Clean entries and a nice smooth ride up. I finished +52 pips for the day. 4 Trades, 3 Wins & 1 Loss. Very pleased with my result. I'll keep a eye on it, but not to keen to trade at this level.