ALSI 40 Index - Trading the South African All Share Index

DAX: Banked another +28 pips. Great long trade off the 780 level!

Shot Rooi. Things are shaping up nicely for me this year. I didn't think I'll intraday trading like I'm doing now, but so far it's working out great for me. I feel a lot more comfortable with my current method. Got to keep on practicing though.

Hi HedgePiglet, hope you are well.

If possible, can you tell me what range you specify for your range bars for ALSI and DAX ?

Thanks

There you go Signal.

Morning.

The market seems very quite today. No trades taken yet. How is everyone else doing? Or should I ask what are you up to?

+10 on the DAX and +4.5 live. Very quiet...

Did you short the 830 level?

Finally some decent movement. My bias was short this morning on the DAX to fill the gap back to the XETRA close yesterday evening @ 11799, took 2 shorts but got shaken out of both @ BE, mainly due to poor entries. Followed this with -10 on a long @11780 trying to pick the bottom (will I never learn). Shorted from the same spot and took +20, would've hit +30 but I'm not on the ball today.
I'm calling it a day @ +10, lucky to have got that the way I'm trading today. (It's all HP's fault for filling my head with Guppies and pretty charts, don't know if I'm coming or going now )
Have a good weekend guys.
Simon

My first short was 815, went 17 for a +10. The long I took at 817 went +11 so that was a BE, (though I only closed it on a -3) but I think I got a little lucky and then I took the short at 814 again which went 70, banked a +30. I think I am done for the day...

Ignored a short 10 minutes ago that is already a +20, it certainly does move beautifully when it moves.

Ha ha, glad to be of service!
Have a splendid weekend...

Hi HP

Could you post a chart of your Dax with settings of the GMAs you use for entries

Thank you

Hi Howard and welcome to the thread.
I use two sets of charts, one is time-based (candles) with areas of support and resistance, bit of a mare trying to describe them in here and not really the theme of the thread, though I will be happy to chat with you in more detail if you wish?

The actual trade entry chart is this one:

This is a 1tick (0.5R) Range Bar chart with two sets of MA filters enabled, helping me see clear trend change in colour. I try to keep it visually as 'pretty' (Simon) as possible to reduce my analysis paralysis. The dotted turquoise line is a market profile indicator and I have found price will ALWAYS move away from this line, this is not mine and is commercially available though I am not sure of the rules around discussing commercial indicators so have a blanket policy of only answering these questions via PM.

Additionally, I have a set of studies I overlay which are our own, which give clear buy and sell signals in line with the rules I have described.

You will note two sets of red and green triangles above the occasional range bar, the lighter of the two being a call to action with the bright green/red ones being clear entry conditions are in play. These are supported by my time based chart above and the accuracy has proven to be nothing short of eye-watering. (Note the nice little short currently in play which opened right on the 300EMA and has already moved +10, making a zero risk trade. Personally I have been surprised at how 'predictable' this chart has been, a term I use loosely as I have seen charts turn ugly the moment you think you've got the sum of them. So far with 3 weeks of live testing I have begun this week actually putting my own money on it and results look promising.

The GMMA's are a personal adaptation of Daryl's Fast and Slow groups, where we eradicated his fast group, made his slow group our fast and added an extra SuperGuppy (as we call it) which shows deep retracement to the 300EMA, the industry standard are for price activity.

My plan is to start a dedicated DAX discussion thread which uses this method, which I have personally enjoyed a particularly good success with a more aggressive version on the ALSI Index, which is probably the wildest pony I have ever met. The theory was if it can make it work there, it will work anywhere and so far this has been the case. Touch wood.

There are a handful of chaps in here who know of the background to my trading and I am happy to provide my professional credentials in person, again, this is my personal account and is meant to be enjoyable and interactive, with no specific agenda other than to talk about what we are all up to.

I hope this makes some sense.

Thank you for the great explanation, I will be in touch and await your dedicated dax thread too

My pleasure. I'm a much bigger fan of showing rather than telling, my goal is to share my screens live and talk/trade live, which is the only way anybody else might benefit.

Morê manne.

I hope you all had a good weekend.

Dag se

More... .... .... slow market

Jip

Not uncommon for a Monday morning

Rooi

Good morning / Molweni.

DAX: 12000 has been hit.