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The Swamp

  • #1,461
  • Mar 22, 2016 11:21am Mar 22, 2016 11:21am
Quoting Marco-Kanto
{quote} hey Max - DAX looks like it might give daily PP a go soon, on a slow day like today would you still see this as strong signal to take a position? Thanks in advance.
DAX at this time of day normally makes a move one way or another.
It may seem a slow day but the DAX has covered 196 points down and then up again.
We won't know if it is strong or not until after it does it's thing.
I tend to take the setups as they come and get out if they fail, doubt I will do any different this time, but consider it is just above the open, the daily high and the big number so a reaction one way or another should normally be expected, question is to wait for confirmation or not? market is somewhat disorganised of late.
  • #1,462
  • Mar 22, 2016 11:23am Mar 22, 2016 11:23am
Quoting priceaction1
1.1240
waited also ….
  • #1,463
  • Mar 22, 2016 11:28am Mar 22, 2016 11:28am
Quoting MaxDoom
{quote} DAX at this time of day normally makes a move one way or another. It may seem a slow day but the DAX has covered 196 points down and then up again. We won't know if it is strong or not until after it does it's thing. I tend to take the setups as they come and get out if they fail, doubt I will do any different this time, but consider it is just above the open, the daily high and the big number so a reaction one way or another should normally be expected, question is to wait for confirmation or not? market is somewhat disorganised of late....
Thanks Max.
Focus.
  • #1,464
  • Edited 11:48am Mar 22, 2016 11:33am | Edited 11:48am
Quoting MaxDoom
{quote} DAX at this time of day normally makes a move one way or another. It may seem a slow day but the DAX has covered 196 points down and then up again. We won't know if it is strong or not until after it does it's thing. I tend to take the setups as they come and get out if they fail, doubt I will do any different this time, but consider it is just above the open, the daily high and the big number so a reaction one way or another should normally be expected, question is to wait for confirmation or not? market is somewhat disorganised of late....
I have taken a long
edit: taken 50% profit +25 SL moved up
Attached Image (click to enlarge)
Click to Enlarge Name: DAX 2016 Mar 22b.PNG Size: 18 KB
  • #1,465
  • Mar 22, 2016 11:42am Mar 22, 2016 11:42am
Quoting Marco-Kanto
{quote} Thanks Max.
Hard to say now if you ask me. Better wait for an opportunity to arise for a good short or buy entry. Still not really up or down for the year yet this year
  • #1,466
  • Mar 22, 2016 11:44am Mar 22, 2016 11:44am
Quoting MaxDoom
{quote} I have taken a long {image}
Max, how do you handle the stop losses on DAX? Do you put a SL at a given level or you wait for confirmation(some candle close?) against you and close your position manually?
Thanks
  • #1,467
  • Mar 22, 2016 11:46am Mar 22, 2016 11:46am
Quoting jaxx80
{quote} Max, how do you handle the stop losses on DAX? Do you put a SL at a given level or you wait for confirmation(some candle close?) against you and close your position manually? Thanks
levels
but I will often close before the SL if my reason for entry is proved wrong
  • #1,468
  • Mar 22, 2016 11:47am Mar 22, 2016 11:47am
Quoting MaxDoom
{quote} I have taken a long {image}
SNAP.

My chart is still using older figures. Can you suggest anywhere I can read up on why this is different and when it will change to the new contract figures. Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: IMG_8246.jpg Size: 131 KB
Focus.
  • #1,469
  • Mar 22, 2016 11:49am Mar 22, 2016 11:49am
Quoting Marco-Kanto
{quote} SNAP. My chart is still using older figures. Can you suggest anywhere I can read up on why this is different and when it will change to the new contract figures. Cheers. {image}
just depends from broker to broker, but they should have rolled by now....

I have taken 50% profit +25 and moved the SL
  • #1,470
  • Mar 22, 2016 11:51am Mar 22, 2016 11:51am
Quoting MaxDoom
{quote} just depends from broker to broker, but they should have rolled by now.... I have taken 50% profit +25 and moved the SL
Yeh I can't see it hitting R1 today, regardless of what my TP suggests.
Focus.
  • #1,471
  • Mar 22, 2016 11:51am Mar 22, 2016 11:51am
Quoting gatorinla
apple approaching 108.06, this may pops up as a key level. one way or other.. with uj as a guide. apple breaking august low is a definite possibility. apple in august lead the drop..apple atm 106.63.. personally i have s/p and others in dead cat bounce,
AAPL earnings out 4/25 and I have to bet it will trade >$110 by then; with all CB's on board the dove train I have to bet equities will grind up into and thru the next earnings round, and be set up for an epic "sell in May, go away" slide ahead of the Brexit referendum 6/23....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #1,472
  • Mar 22, 2016 11:58am Mar 22, 2016 11:58am
Quoting MaxDoom
{quote} levels but I will often close before the SL if my reason for entry is proved wrong
But, for example, if you put your SL at the Pivot Point, the price will often fall below it, only to go above it again several minutes later, leaving a wick on the higher time-frames. So the SL will be hit, but the reason for entry will be valid again.
In this case do you allow the position to be closed with a loss on the hit of the SL , but then re-enter again?
  • #1,473
  • Mar 22, 2016 11:59am Mar 22, 2016 11:59am
Quoting Marco-Kanto
{quote} Yeh I can't see it hitting R1 today, regardless of what my TP suggests.
watch the mid-R1 it coincides with a gator level 10061 on my chart
  • #1,474
  • Mar 22, 2016 11:59am Mar 22, 2016 11:59am
can any one help I am trading GBP -CAD will decrease more or it will raise again
  • #1,475
  • Mar 22, 2016 12:03pm Mar 22, 2016 12:03pm
Quoting MaxDoom
{quote} watch the mid-R1 it coincides with a gator level 10061 on my chart
Thanks for the heads up Max.

Can I ask about these difference in figures Max - I've pulled up a DAX chart (June contract) which shows the same chart but with different figures. The June contract DAX is 35 points above my current figures. What will happen when it does rollover? Should I remain in a long position behind the line and wait for the rollover to see the jump? Or am I completely wrong in my reasoning...?

My broker has 3 different options for Dax - Futures (march & June) and then one that uses CFD calculation (as opposed to FX) which is the one I'm using.

Thanks in advance.

M
Focus.
  • #1,476
  • Mar 22, 2016 12:07pm Mar 22, 2016 12:07pm
Quoting jaxx80
{quote} But, for example, if you put your SL at the Pivot Point, the price will often fall below it, only to go above it again several minutes later, leaving a wick on the higher time-frames. So the SL will be hit, but the reason for entry will be valid again. In this case do you allow the position to be closed with a loss on the hit of the SL , but then re-enter again?
now that's a different question

the original question related I assumed to the initial placement of a SL if I was entering off pivot I would not put my stop at pivot.
moving SL after a trade has moved along is not always by level and people have different ways of dealing with it.
in this particular DAX trade I have on now my initial stop was below the open level for a pivot entry. I took 50% profit at +25 and moved stop to be+ at that point which is therefore above pivot. Given the speed of the market, time of day for the market a return to the pivot may see a fall through it, hence my early take of +25 and move of stop to ensure I suffer no loss on the remainder.
  • #1,477
  • Edited 12:50pm Mar 22, 2016 12:36pm | Edited 12:50pm
Quoting gatorinla
Possible kiwi S under 6883, i wasn't around to enter earlier. i will set a pending at 6870 with stops slightly above.. tp unlikely 900 pip at .59xx
st 6704 minimal seems to wanted next ,, above 6772 before, and i am probably wrong. once 6704 is reached, w/o the benefit of hindsight, a possible short may be after (not a call to long atm). in the 6797 area. this s/r area at 6797 will probably be breached if we dont go to 6704 first. subject to change in pa, tweaking may be needed. kiwi
Attached Image
those who can, do. those who cant, talk about those who can
  • #1,478
  • Mar 22, 2016 12:40pm Mar 22, 2016 12:40pm
I need to change my fib setup

Oh look, Max earned a Rolex today

I get a steak, WITH potatoes this time
  • #1,479
  • Mar 22, 2016 12:44pm Mar 22, 2016 12:44pm
Hatch if you don't send me an email soon I'm going to tell everyone you're dead

Welcome AllyB
  • #1,480
  • Mar 22, 2016 12:49pm Mar 22, 2016 12:49pm
Quoting gatorinla
{quote} st 6704 minimal seems to wanted next ,, above 6772 before, and i am probably wrong. once 6704 is reached, w/o the benefit of hindsight, a possible short may be after. in the 6797 area. this s/r area at 6797 will probably be breached if we dont go to 6704 first. subject to change in pa, tweaking may be needed. kiwi {image}
where did the 6704 come from, also why is this needed before 6797 breach? cheers
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