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Carpe diem: Intraday tactics for Dax and Dow

  • #22,301
  • May 13, 2016 4:47am May 13, 2016 4:47am
Quoting stylinex
Anyone see a possible retrace to 9840?
struggling at this area......
  • #22,302
  • May 13, 2016 4:59am May 13, 2016 4:59am
Just missed my sell order at 9850
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  • #22,303
  • May 13, 2016 5:05am May 13, 2016 5:05am
Quoting stulic
{quote} It's like any other instrument. Spread is determined by the broker alone.
It's not like any other instrument !!!

If you trade Futures, each trade goes via the Exchange (not like CFDs or Currencies). If I place a Dax bid @9825 and it's the highest, everyone, no matter which Broker can see this bid. If someone else is placing his lowest Ask @9828 and there is nobody offering a lower Ask the Spread would be 3 Points (9825x9828). The Broker is making money, by charging a Comission.
  • #22,304
  • May 13, 2016 5:11am May 13, 2016 5:11am
I wonder what the odds are now of it going back to 9900? The 30 minute green candle this looks possible.
  • #22,305
  • May 13, 2016 5:21am May 13, 2016 5:21am
Quoting Schmidt
{quote} It's not like any other instrument !!! If you trade Futures, each trade goes via the Exchange (not like CFDs or Currencies). If I place a Dax bid @9825 and it's the highest, everyone, no matter which Broker can see this bid. If someone else is placing his lowest Ask @9828 and there is nobody offering a lower Ask the Spread would be 3 Points (9825x9828). The Broker is making money, by charging a Comission.
So does this imply that stops can be seen also? I am constantly amazed and frustrated at how price reaches stops and reverses, not just for me but for other traders also. Makes me nervous about using stops but the the consequences of not using one could be worse.....
  • #22,306
  • May 13, 2016 5:23am May 13, 2016 5:23am
Quoting CathS
{quote} So does this imply that stops can be seen also? I am constantly amazed and frustrated at how price reaches stops and reverses, not just for me but for other traders also. Makes me nervous about using stops but the the consequences of not using one could be worse.....
I have had that problem with stops myself too many times.
  • #22,307
  • May 13, 2016 5:27am May 13, 2016 5:27am
guys, I am not daytrading this but I can only advise you not to short this here in the really short term .... 4H is really bullish double bottom in the making that should only be sold when weekly is in overbought area ...
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  • #22,308
  • May 13, 2016 5:27am May 13, 2016 5:27am
Quoting stylinex
I wonder what the odds are now of it going back to 9900? The 30 minute green candle this looks possible.
I'm long, TP 9985. We will see.
  • #22,309
  • May 13, 2016 5:28am May 13, 2016 5:28am
DAX . currently long. 9892-9895 could be a friction area, but looking at 9920 as a target and possible reverse short.

FYI my feed shows price at 9856 right now.
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Hidden in plain sight.
  • #22,310
  • May 13, 2016 5:28am May 13, 2016 5:28am
I did it and closed my position. Happy for today.
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  • #22,311
  • May 13, 2016 5:29am May 13, 2016 5:29am
Quoting stylinex
I did it and closed my position. Happy for today. {image}
Damn, I wish I had this capital to trade with.
Hidden in plain sight.
  • #22,312
  • May 13, 2016 5:34am May 13, 2016 5:34am
Quoting jakucha
{quote} Damn, I wish I had this capital to trade with.
It would make trading so much easier, wouldn't it!!
  • #22,313
  • May 13, 2016 5:34am May 13, 2016 5:34am
Quoting stylinex
{quote} I have had that problem with stops myself too many times.
It is a very common complaint (I saw yours last night too!!)
  • #22,314
  • May 13, 2016 5:35am May 13, 2016 5:35am
Quoting CathS
{quote} So does this imply that stops can be seen also? I am constantly amazed and frustrated at how price reaches stops and reverses, not just for me but for other traders also. Makes me nervous about using stops but the the consequences of not using one could be worse.....
Well Stops can be seen by your Broker. Joe Average does not see your Stops. You're not the only Market Participant. People place their Stops above Resistance and below Support.
The Big Guys can bid the price up above resistance, which will trigger a lot of buy orders and they then sell into these stops. Once everyone got stopped out, it goes back down.

I don't think real Brokers are hunting for Stops. One Broker alone does not have the Power to move the Markets.
  • #22,315
  • May 13, 2016 5:35am May 13, 2016 5:35am
Quoting CathS
{quote} It would make trading so much easier, wouldn't it!!
It's more about the fact that 200 daily pips on dax would actually be worth something rather that dust slowly accumulating.
Hidden in plain sight.
  • #22,316
  • May 13, 2016 5:46am May 13, 2016 5:46am
Quoting jakucha
{quote} It's more about the fact that 200 daily pips on dax would actually be worth something rather that dust slowly accumulating.
I hear you!!!
  • #22,317
  • May 13, 2016 6:21am May 13, 2016 6:21am
Quoting CathS
{quote} It is a very common complaint (I saw yours last night too!!)
I am going to show you something but because we can only post 1 image I will upload them separately. Yesterday I had a huge short position when the DAX was sitting around 10070. I changed my stop loss order to 10078 (I should not have done this and should have just left it at 10080) but none the less I did. Forex took out my stop loss and executed it at 10085 and my eyes were glued to the screen watching index futures price on two different platforms and neither hit 10078.25
After it took out my stop loss it drops to under 10,000 as we saw yesterday.
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  • #22,318
  • May 13, 2016 6:21am May 13, 2016 6:21am
Quoting Schmidt
{quote} Well Stops can be seen by your Broker. Joe Average does not see your Stops. You're not the only Market Participant. People place their Stops above Resistance and below Support. The Big Guys can bid the price up above resistance, which will trigger a lot of buy orders and they then sell into these stops. Once everyone got stopped out, it goes back down. I don't think real Brokers are hunting for Stops. One Broker alone does not have the Power to move the Markets.
Thanks!
  • #22,319
  • May 13, 2016 6:22am May 13, 2016 6:22am
Quoting stylinex
{quote} I am going to show you something but because we can only post 1 image I will upload them separately. Yesterday I had a huge short position when the DAX was sitting around 10070. I changed my stop loss order to 10078 (I should not have done this and should have just left it at 10080) but none the less I did. Forex took out my stop loss and executed it at 10085 and my eyes were glued to the screen watching index futures price on two different platforms and neither hit 10078.25 After it took out my stop loss it drops to under 10,000 as we saw...
Here it is from another source
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  • #22,320
  • May 13, 2016 6:26am May 13, 2016 6:26am
Quoting stylinex
{quote} I am going to show you something but because we can only post 1 image I will upload them separately. Yesterday I had a huge short position when the DAX was sitting around 10070. I changed my stop loss order to 10078 (I should not have done this and should have just left it at 10080) but none the less I did. Forex took out my stop loss and executed it at 10085 and my eyes were glued to the screen watching index futures price on two different platforms and neither hit 10078.25 After it took out my stop loss it drops to under 10,000 as we saw...
I've had that happen too, sometimes the trade enters at a price that price never reached, if you know what I mean. I put it down to low liquidity but it's so frustrating when the trade starts off underwater when the price you chose would have been good. I've been stopped out of trades too when price hasn't actually reached the price of the stop. I guess that's the price of being a retail trader, doesn't mean we have to like it
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