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Carpe diem: Intraday tactics for Dax and Dow

  • #19,481
  • Feb 2, 2016 4:02am Feb 2, 2016 4:02am
My first trade for today. In just over 9600
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  • #19,482
  • Feb 2, 2016 4:14am Feb 2, 2016 4:14am
Quoting stylinex
My first trade for today. In just over 9600 {image}
Well done. Share some of your trades as per post one so we can learn. Thx.
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #19,483
  • Feb 2, 2016 4:26am Feb 2, 2016 4:26am
Quoting revoli
{quote} It's not the age it's the mileage and the road you travel. As mentioned in the academy it is why I now trade on a scalping system where I can walk away after an hour. Took profits on my short at 9600ish. It's made my daily target and I may not have the patience to wait for another leg
Only joking,,,none of us are immune no matter what age we are
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  • #19,484
  • Feb 2, 2016 4:45am Feb 2, 2016 4:45am
Quoting revoli
{quote} Hi Tiago. Well done. A bit worried by your statement it's hard to explain. If you cannot explain it to others are you sure you have it clear in your own head? I would try writing out your rules explicitly so you are absolutely clear what you are doing and when you are doing it. Do not allow yourself just to act on gut instinct, you must be able to clearly understand what system you are following to be able to establish how well it performs in any given market condition. When things do not go according to plan you can then review which of...
Thank you Revoli, you definitely have a point.

Basically I only use trendlines and resistance/support lines. Then, I analyze the chart at the end(midnight) of the London day (where I live).
The way I analyze is quite simple:

Most of the times, the DAX moves from 250 to 350 points a day. The first move is generally quite aggressive (by first move I mean everything that happens until about 2pm London time). So I put a sell stop bellow the lines I consider the lowest "point of no return" and a buy stop above the highest "point of no return".

That let's me catch any significant movement that happens after the usual "noise", and also leaves the decision (up or down) to the market.

The setup is 100pip T/P and 50pip S/L. If I have time I will change the S/L to BE in the morning, but it happens quite often that the trade is closed by the time I wake up.


The issues:

When the market is acting choppy like last week, it's possible that both trades get triggered and stopped out.


Anyway, today's trade was:
Short @9625 ; S/L @9675 ; TP @9525
(And the long that didn't trigger: Long @9855; S/L @9805; T/P @9955
  • #19,485
  • Feb 2, 2016 4:54am Feb 2, 2016 4:54am
Hi All,
DOW 6H looks like it wants to turn
[correction over]?
It's Crossed the MA's.
Waiting to see the 6H and 4H close [London 12pm].
Looking for a Long if it turns [US session].
Cheers, U2
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Wait, or you will be slaughtered!
  • #19,486
  • Feb 2, 2016 5:19am Feb 2, 2016 5:19am
Quoting revoli
{quote} You could well be right. Missed the party this morning - caught napping. Short from 9639 after pull back to 9650 and selling from there. Taken on an S5 chart.
Here are a couple of charts related to my earlier posts. It is important to note I trade in a very specific way, using 10 point stops and aim for 30 points a day. This is the system that best suits my circumstances. Match your system to your own situation. There were entries I missed but that does not matter. What matters is having the patience to wait for the next one. Each trade must be viewed as an individual entity. It is the same with a loss or a win. After the battle tighten your helmet strap (my new signature stolen from Zen in the Markets).

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Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #19,487
  • Feb 2, 2016 5:20am Feb 2, 2016 5:20am
Quoting revoli
{quote} Here are a couple of charts related to my earlier posts. It is important to note I trade in a very specific way, using 10 point stops and aim for 30 points a day. This is the system that best suits my circumstances. Match your system to your own situation. There were entries I missed but that does not matter. What matters is having the patience to wait for the next one. Each trade must be viewed as an individual entity. It is the same with a loss or a win. After the battle tighten your helmet strap (my new signature stolen from Zen in the...
It seems you can only post one pic from an iPad, here is the second. This is a lower timeframe chart I was watching as price action this morning was quite difficult to judge a good entry just on M1.
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Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #19,488
  • Feb 2, 2016 5:28am Feb 2, 2016 5:28am
Quoting TiagoF
{quote} Thank you Revoli, you definitely have a point. Basically I only use trendlines and resistance/support lines. Then, I analyze the chart at the end(midnight) of the London day (where I live). The way I analyze is quite simple: Most of the times, the DAX moves from 250 to 350 points a day. The first move is generally quite aggressive (by first move I mean everything that happens until about 2pm London time). So I put a sell stop bellow the lines I consider the lowest "point of no return" and a buy stop above the highest "point of no return"....
Excellent. You have a clear set of rules you can get some solid statistics behind to ascertain success rates in different market conditions. With a risk reward ratio of 1:2 you need a success rate of over 50%. Doable. Just remember a system can run for weeks even months showing positive results and then fail catastrophically if market conditions change. Anything can happen. Our job is to stack the odds in our favour through probabilities. Good luck.
Katte, kabuto no o wo shime yo. Size doesn't matter, leverage is the killer
  • #19,489
  • Feb 2, 2016 5:34am Feb 2, 2016 5:34am
Quoting revoli
{quote} Here are a couple of charts related to my earlier posts. It is important to note I trade in a very specific way, using 10 point stops and aim for 30 points a day. This is the system that best suits my circumstances. Match your system to your own situation. There were entries I missed but that does not matter. What matters is having the patience to wait for the next one. Each trade must be viewed as an individual entity. It is the same with a loss or a win. After the battle tighten your helmet strap (my new signature stolen from Zen in the...
Great stuff ...Great clear charts.. saved to study.. THKS
  • #19,490
  • Feb 2, 2016 5:35am Feb 2, 2016 5:35am
Quoting revoli
{quote} Here are a couple of charts related to my earlier posts. It is important to note I trade in a very specific way, using 10 point stops and aim for 30 points a day. This is the system that best suits my circumstances. Match your system to your own situation. There were entries I missed but that does not matter. What matters is having the patience to wait for the next one. Each trade must be viewed as an individual entity. It is the same with a loss or a win. After the battle tighten your helmet strap (my new signature stolen from Zen in the...


Lol what's a "BRN"???
  • #19,491
  • Feb 2, 2016 6:04am Feb 2, 2016 6:04am
larga 9642.4
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  • #19,492
  • Feb 2, 2016 6:04am Feb 2, 2016 6:04am
big round number
https://www.google.com/?gfe_rd=cr&ei=LpuwVvgd6KvzB5CFhJgC&gws_rd=ssl#q=forex+brn
  • #19,493
  • Feb 2, 2016 6:06am Feb 2, 2016 6:06am
[Quote = jmss59; 8726470] 9.642,4 larga {image} [/ quote]
SER
closed +10
  • #19,494
  • Feb 2, 2016 6:15am Feb 2, 2016 6:15am
Quoting Karpa
big round number https://www.google.com/?gfe_rd=cr&ei=LpuwVvgd6KvzB5CFhJgC&gws_rd=ssl#q=forex+brn

Thanks Karpa, good stuff...

For those that may not know, the technical term used by the institutions and banks is "The figure", as an example 1500, 1100 round numbers...

D
  • #19,495
  • Feb 2, 2016 6:16am Feb 2, 2016 6:16am
Quoting TiagoF
{quote} Thank you Revoli, you definitely have a point. Basically I only use trendlines and resistance/support lines. Then, I analyze the chart at the end(midnight) of the London day (where I live). The way I analyze is quite simple: Most of the times, the DAX moves from 250 to 350 points a day. The first move is generally quite aggressive (by first move I mean everything that happens until about 2pm London time). So I put a sell stop bellow the lines I consider the lowest "point of no return" and a buy stop above the highest "point of no return"....
Hello Tiago
Thanks for the explanation, could you show us your "points of no return" on a chart, I did not manage to spot them based on the short and long entries which you mention above.
Regards
  • #19,496
  • Feb 2, 2016 6:28am Feb 2, 2016 6:28am
Quoting revoli
{quote} Well done. Share some of your trades as per post one so we can learn. Thx.
I expected a bounce around 9600 so I entered around there with 3 different position of 30 contracts each. Movement was choppy at that time so my buy order did not exactly up through at 9600. Ended up averaging around 9605. Sold too early though.

Quiet trading in Asia. No government intervention buying this week from what I have seen so far which is a bad sign. Stocks mainly ended up down or flat with little activity. Oil is down so Gulf States are not buying either. Should get quiet or drop as Chinese and Middle Eastern buyers will be away these next two weeks or so.
  • #19,497
  • Feb 2, 2016 6:59am Feb 2, 2016 6:59am
My second trade today. Closed at around 9640
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  • #19,498
  • Feb 2, 2016 7:11am Feb 2, 2016 7:11am
Hi All,
2H DOW turning?
Await 4H to confirm.
Entered Small Long with Hedge Stop Loss.
Cheers, U2
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Wait, or you will be slaughtered!
  • #19,499
  • Feb 2, 2016 7:31am Feb 2, 2016 7:31am
Looking for short pattern on Dax at 9674..
  • #19,500
  • Feb 2, 2016 7:34am Feb 2, 2016 7:34am
Quoting stylinex
My second trade today. Closed at around 9640 {image}
Nice but maybe will be useful if u would inform us before doing the trade..
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