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Carpe diem: Intraday tactics for Dax and Dow

  • #14,501
  • Oct 29, 2015 4:09am Oct 29, 2015 4:09am
Quoting littspaniard
morning Quick trade in 1 minute chart to post here {image}
closed nine, +225. One short remain open just in case.
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The only constant is change
  • #14,502
  • Oct 29, 2015 4:14am Oct 29, 2015 4:14am
Quoting Islander
{quote} These were the two trades that I was talking about. These were the "safer" entries, there were earler entries using more aggressive tactics that I dont usually post. Regards {image}
I go for 10 TP o the 1m charts. Herewith my three trades from this morning. I could have made more on each but I have learnt to be modest on low TFs. I am not fast enough to post in RT. At my age, I cannot concentrate on 2 things at the same time - actually I never could. I usually trade M15 and only started trading M1 a month ago after listed to Deltaone (many thanks). So far so good. Anyway with 30 points I am done for the day.
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  • #14,503
  • Oct 29, 2015 4:37am Oct 29, 2015 4:37am
Quoting littspaniard
{quote} closed nine, +225. One short remain open just in case. {image} {image}
closed the short remains open, sl HIT +2. a
And open longs
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The only constant is change
  • #14,504
  • Oct 29, 2015 4:40am Oct 29, 2015 4:40am
Quoting Zoog
{quote} I go for 10 TP o the 1m charts. Herewith my three trades from this morning. I could have made more on each but I have learnt to be modest on low TFs. I am not fast enough to post in RT. At my age, I cannot concentrate on 2 things at the same time - actually I never could. I usually trade M15 and only started trading M1 a month ago after listed to Deltaone (many thanks). So far so good. Anyway with 30 points I am done for the day. {image}
That makes no sense whatsoever, if you don't mind me saying so. With a 10TP off of a 1m TF, it's impossible to get ahead unless you have a very high win/loss ratio. I wouldn't open a trade on a 10 second TF if I didn't think it would make at least 20 pips. My opinion anyway.
  • #14,505
  • Oct 29, 2015 4:50am Oct 29, 2015 4:50am
Quoting Zoog
{quote} I go for 10 TP o the 1m charts. Herewith my three trades from this morning. I could have made more on each but I have learnt to be modest on low TFs. I am not fast enough to post in RT. At my age, I cannot concentrate on 2 things at the same time - actually I never could. I usually trade M15 and only started trading M1 a month ago after listed to Deltaone (many thanks). So far so good. Anyway with 30 points I am done for the day. {image}
Well done for hitting your target. However, I do agree with what Cat has just posted that 10 pts TP is too low for most of the time once the cash market is open. As you can see from your chart all of your entries went on for > 20 pts of profit and you might consider trying that.

Edit: chart added showing pts available simply from when price crossed a MA
Attached Image (click to enlarge)
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Trading Levels with WRBs
  • #14,506
  • Oct 29, 2015 4:52am Oct 29, 2015 4:52am
Quoting littspaniard
{quote} closed the short remains open, sl HIT +2. a And open longs {image}
Sl hit at even
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The only constant is change
  • #14,507
  • Oct 29, 2015 5:01am Oct 29, 2015 5:01am
Quoting cat
{quote} That makes no sense whatsoever, if you don't mind me saying so. With a 10TP off of a 1m TF, it's impossible to get ahead unless you have a very high win/loss ratio. I wouldn't open a trade on a 10 second TF if I didn't think it would make at least 20 pips. My opinion anyway.
I do not mind at all. I would have agreed with you a month ago. I started trading M1 with a 15TP four weeks ago then increased it to 25 but then got whipsawed a lot so I brought it down steadily. The last two weeks I have used 10 and am up very nicely but two weeks is hardly a track record so we shall see. . I only trade it from the Frankfurt open until 11.00am and only certain setups. My SL is also 10 and I move to BE after 5. Everyone told me to avoid M1 and low TPs so maybe this strategy will crash and burn. I used to trade M15 with 50 TP and 25 SL with BE at 25 but I thought I would try this. I also have the advantage of low spreads on the Dax We shall see.
  • #14,508
  • Oct 29, 2015 5:10am Oct 29, 2015 5:10am
Quoting Islander
{quote} Well done for hitting your target. However, I do agree with what Cat has just posted that 10 pts TP is too low for most of the time once the cash market is open. As you can see from your chart all of your entries went on for > 20 pts of profit and you might consider trying that. Edit: chart added showing pts available simply from when price crossed a MA {image}
Thank you for that. What I might do is to open two positions. Take 10 on half and the let the other half run.
  • #14,509
  • Edited 5:53am Oct 29, 2015 5:23am | Edited 5:53am
Quoting Forexcube
DAX, Short @ 10'827 (2x)
#14'450

Exit @ 10'799, +28 (x2 = 56)
  • #14,510
  • Oct 29, 2015 5:24am Oct 29, 2015 5:24am
Quoting Forexcube
DAX, Short @ 10'837 (2x), Target @ 10'807
#14'453

The target was hit.
Exit @ 10'807, + 30 (x2 = 60)
  • #14,511
  • Oct 29, 2015 5:26am Oct 29, 2015 5:26am
Quoting Zoog
{quote} I do not mind at all. I would have agreed with you a month ago. I started trading M1 with a 15TP four weeks ago then increased it to 25 but then got whipsawed a lot so I brought it down steadily. The last two weeks I have used 10 and am up very nicely but two weeks is hardly a track record so we shall see. . I only trade it from the Frankfurt open until 11.00am and only certain setups. My SL is also 10 and I move to BE after 5. Everyone told me to avoid M1 and low TPs so maybe this strategy will crash and burn. I used to trade M15 with 50...
I would add that for me, 10 pip SL is way too small for a 1 min chart. You need to be incredibly precise with your entries to get away with such a tight stop. You will certainly take many losses, but if you limit yourself to 10, or even 20 pips TP, you will continually be pegged back, not to mention the damage this will do to your psyche. You may find it worth your while to study smaller time frames than the 1m, as the smaller you go, the more precise your entries will become, provided you keep higher time frames open at the same time so that you can see where the most likely S&R levels are. 20 sec or even 10 sec charts will enable you to do this with practice. Best of luck
  • #14,512
  • Oct 29, 2015 5:32am Oct 29, 2015 5:32am
longs
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The only constant is change
  • #14,513
  • Oct 29, 2015 6:37am Oct 29, 2015 6:37am
Quoting littspaniard
longs {image}
sl hit -145
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The only constant is change
  • #14,514
  • Edited 7:04am Oct 29, 2015 6:47am | Edited 7:04am
10,777 61.8%. 76.4% @ 742.

The 76.4% is just above my 30m 200ema @ 735, so that's my candidate for support if we get there, as it is currently on S1. Below that, and I'm looking at the hourly chart, and the next level there if the selling keeps going is S2 down to S3 @ 10,524.

ps - with the 10m 200ema/sma now coming over the price at around 827, I'd expect a pullback fairly soon to engage with that before either deciding to push back up a bit, or roll over for further selling. We'll see.
  • #14,515
  • Oct 29, 2015 7:14am Oct 29, 2015 7:14am
Quoting stylinex
{quote} Thank you. I expect a .50-1.0% pullback from highs either today or tomorrow. A least one of those roller coaster reversal days.
First target of -.50% pullback hit
  • #14,516
  • Edited 8:30am Oct 29, 2015 7:28am | Edited 8:30am
Quoting Islander
{quote} These were the two trades that I was talking about. These were the "safer" entries, there were earler entries using more aggressive tactics that I dont usually post. Regards {image}
Okey thank you very much. I really appreciate it.
I bought few minutes sooner. in the area of Doji/pinbars. As I assumed its higher low of higher TF. But low was a bit lower so I got stopped. 10point SL. I guess this entry was too agressive?

And today around LO you had 3 possible sell entries (3 arrows) But two of them would be stopped. Last one was the best. My point is sometimes price goes a little higher/lower than just 10points and creates spike. Do you use hard stoploss of 10points or do you wait to spike and then use 10p SL. I know it can be road to hell to wait for spike coz there's always possibilty that price go further. I'd like to know your oppinion. Thank you again for all the charts, kindness and patience you have.

Best wishes and a lot of points.

Quoting cat
{quote} I would add that for me, 10 pip SL is way too small for a 1 min chart. You need to be incredibly precise with your entries to get away with such a tight stop. You will certainly take many losses, but if you limit yourself to 10, or even 20 pips TP, you will continually be pegged back, not to mention the damage this will do to your psyche. You may find it worth your while to study smaller time frames than the 1m, as the smaller you go, the more precise your entries will become, provided you keep higher time frames open at the same time so...
On the other hand Today I had 2 trades which were around 20+ and get back to BE to kick me out...Coz I hoped It will go higher. And ofc it turned out on ressistance. So I get furious and take nonsense trade for -15. Yep instead of +40 I'm -15. And this situation wasn't just today. TO be honest other days were worse. So I really start to think about bank what I have.. Today were a lot of opportunities to bank 20+ I counted at least 6. Too bad I stopped trading coz I don't have needed margin. I'd have at least half of looses back form this week. I agree that if price has will to go higher people should not limit it just for 10 or 20. But there has to be the will!

I also agree 10p SL can be sometimes small. But depends on precision of trader. Anyway I'm curious about smaller TFs. Is there a way(free) how to view history charts in smaller TFs?
  • #14,517
  • Oct 29, 2015 8:02am Oct 29, 2015 8:02am
People here now buying the dips or selling the pops...? I got a feeling we may dip from here.
  • #14,518
  • Oct 29, 2015 8:34am Oct 29, 2015 8:34am
Quoting stylinex
People here now buying the dips or selling the pops...? I got a feeling we may dip from here.

Quoting NWGstudent
short dax @ 10910
Quoting NWGstudent
{quote} out for +5 i figured out i wouldnt stay in this trade so late probably gonna fall anyway

Shorting, sold short again london open, i dont carry positions overnight
  • #14,519
  • Oct 29, 2015 8:47am Oct 29, 2015 8:47am
Quoting drammen
{quote} Check out my signature As for DAX, i have a good feeling it will reach 11111 either this week or next. Update : disregard what i said about 11111. Price action didnt behave the way i thought it would.
I take that back! Good place to short when price decides to reach 11054-11111. Not sure when it will, just be careful around that level.
Energy, frequency and vibration.
  • #14,520
  • Oct 29, 2015 9:21am Oct 29, 2015 9:21am
Quoting drammen
{quote} I take that back! Good place to short when price decides to reach 11054-11111. Not sure when it will, just be careful around that level.

You from drammen? in Norway?
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