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Carpe diem: Intraday tactics for Dax and Dow

  • #25,641
  • Sep 19, 2016 3:10pm Sep 19, 2016 3:10pm
According to my knowledge what is of course on demo.
Support for DAX is 320 and resistance is 430.
We are in the twilight zone. Would say to buy as close as 320 with a reasonable stop for a target of 430. A close below 320 would invalidate it and could make a faceplant.
  • #25,642
  • Sep 19, 2016 3:19pm Sep 19, 2016 3:19pm
Hi Everyone!

I hope everyone here is making a profit trading the market(s)

WOW! I see a few posts with technical illustrations or screenshots? There are few with technical words and sorts. I really do not understand any at all. Nut please let me explain my aforesaid. I am new to replying posts and only started a day or two before the weekend. It was a person who asked about using stop loss. I replied I have never used stop loss since I started trading in 2010. Incidentally, about the time I also registered with Forex Factory website. I wanted to make a post but got frustrated when I did not receive a reply from FF support on 'How to..' and did not think I could even reply to a post then!. So 'Bang!' goes my trying to get involved with FF.

I logged in again after a long hibernation and last week send a request for help again on #How to make a post'. As of yet, to receive a reply. However, I am still confused on where the window is to make a new post. I am not one to engage in any Forum on any website. I just read only and do not even reply. Only this time, BINGO!, I replied to post regarding someone asking, should one need to use S and L trading a Market. I said I did not and have done so. Some came back to me and screen shot of minus Equity of, I believe a sum of 136,000. I guess, it had to do with leverage.

Just looking today and saw this thread and thought maybe someone could assist me with 'How to' open a post in FF. I saw the post heading with DAX interest and thought I want to involve myself in as I have been spread betting on DAX since May this year, but consistently losing thousands up to my last deposit being wiped out within a two weeks in early Aug. I guess, not using stop loss is a habit. But does one need to use a stop loss scalping a trade? Since 2010 I lost many thousands to currency trading and my deposit wiped out less than two weeks. Me? Stupid trader? Yes, I agree with you as a general rule. I have always been a day trader and still emotions gets the better of me. I gave up trading for a six months in 2014-15.

I started trading again in May 2016. Only this time, I thought to look at Indices to hopefully change my luck. After four deposits since then, I lost all within two weeks day trading. I know giving up is not the done thing when one keeps losing. I have been there in the past with other types of lifes issue and recovered.

Sometime in July I started to study DAX periodic charts of past and analysed them. I tried again in Aug with a small deposit to test my luck and this time lost my deposit within a week. I realised, over the years, May and Aug seems to be very high volatility periods.

After the loss I went back to basic and made notes on selected periodic charts. Only this time, I thought to use a DEMO to control my emotions. That's IT! My emotions! I was chasing my loss and spent the whole day trying to retrieve my loss. 'What if', was another problem that shook the seat of rear, thinking useless 'what ifs'. I decide to set myself a 'goal'. I should start the day trading at a given time and stop when it shows a profit, albeit to retracing the losing trade and recover. I looked back at past action records. I found - greed and emotions were my downfall. I would make a profit in the morning trade and loss it and more when I spent the whole day trading.

I decided to spend some time with a DEMO account after the Augusts deposit loss. I concentrated on my discipline and emotions and sustain consistency over a short period. I found it works for me, after all the wrong journey I made in the past. I guess, in the past, discipline was never in my character.

So here I am, still using the DEMO. When and not if I succeed with continuous daily profit trading the DAX, for less than 90 minutes albeit spending time on retracing, to recover loss open trades, so be it. I have never used Stop and Loss or any other technical drawings or whatever. I just go open the DAX Chart, a quick analysis and start at the same time daily and close all trades when profitable including closing Loss trades to take an overall profit. I shall then close the platform for the rest of the day.

Basically, I scalp the trades and any technical drawings or whatever, are useless to me, save for understanding the Chart's trendings.

I do apologize to this long read.
  • #25,643
  • Sep 20, 2016 12:48am Sep 20, 2016 12:48am
Let's see if them gains kick in today instead of yesterday..
  • #25,644
  • Sep 20, 2016 1:07am Sep 20, 2016 1:07am
Quoting stylinex
Let's see if them gains kick in today instead of yesterday..
All eyes focused on tomorrow. FED and BOJ
It's better to be out wishing to be in... than to be in wishing to be out!
  • #25,645
  • Sep 20, 2016 1:12am Sep 20, 2016 1:12am
Quoting Dutchy Daxy
{quote} All eyes focused on tomorrow. FED and BOJ
Probably.
  • #25,646
  • Edited 2:33am Sep 20, 2016 2:21am | Edited 2:33am
Back to the Weekly POC @ 380.
Couldn't cross the Friday High

Now bouncing on Y High
Yesterday POC @ 344. Target???

T1 +11 x 3 lot
1 lot to go.
SL BE
FLAT BE last lot
Attached Image (click to enlarge)
Click to Enlarge Name: FDXM 12-16 (15 Min) 20-9-2016.jpg Size: 63 KB
It's better to be out wishing to be in... than to be in wishing to be out!
  • #25,647
  • Sep 20, 2016 2:37am Sep 20, 2016 2:37am
DAX up targets:
Friday High @ 416 (Just tested)
GAP to close @ 439 (Sept 15)
@ 450 zone we have two Highs in last week and a POC in last week.
It's better to be out wishing to be in... than to be in wishing to be out!
  • #25,648
  • Sep 20, 2016 2:46am Sep 20, 2016 2:46am
According to my calculations, DAX is now at resistance and could retrace.
DEMO testing so take it with a grain of salt.
  • #25,649
  • Sep 20, 2016 2:46am Sep 20, 2016 2:46am
Quoting Dutchy Daxy
@ 450 zone we have two Highs in last week and a POC in last week.
Do you mean the POC from 14.09.16 ? (Just trying to follow your posts on my charts)
"Men Who Can Both Be Right & Sit Tight Are Uncommon" ~ Jesse Livermore
  • #25,650
  • Sep 20, 2016 2:49am Sep 20, 2016 2:49am
Quoting avibe
{image}
to the pip 435 resistance

it's crunch time
practising coitus interruptus
  • #25,651
  • Sep 20, 2016 2:50am Sep 20, 2016 2:50am
Quoting attilafx
According to my calculations, DAX is now at resistance and could retrace. DEMO testing so take it with a grain of salt.
agreed, but DAX can always "overextend"
Attached Image (click to enlarge)
Click to Enlarge Name: 2016-09-20_1050.png Size: 107 KB
  • #25,652
  • Sep 20, 2016 2:56am Sep 20, 2016 2:56am
Sorry for the chart, just for trend watching while I am at the office...

target ~10480-10520
maybe short from there.
Attached Image (click to enlarge)
Click to Enlarge Name: 10min_dax.png Size: 134 KB
  • #25,653
  • Edited 3:10am Sep 20, 2016 2:57am | Edited 3:10am
Quoting michisuperfr
{quote} Do you mean the POC from 14.09.16 ? (Just trying to follow your posts on my charts)
On my chart that POC is from Sept 13 (Tuesday)
and Highs from Wednesday and Thursday

50 in the DAX is anyway a kind of level where price is hesitating.
Attached Image (click to enlarge)
Click to Enlarge Name: FDXM 12-16 (15 Min) 20-9-2016.jpg Size: 124 KB
It's better to be out wishing to be in... than to be in wishing to be out!
  • #25,654
  • Sep 20, 2016 3:12am Sep 20, 2016 3:12am
it is now possible short, to find the equilibrium price is overbought
Attached Image (click to enlarge)
Click to Enlarge Name: dax 20-09-16.jpg Size: 400 KB
  • #25,655
  • Sep 20, 2016 3:15am Sep 20, 2016 3:15am
I just entered long, the price and volatility bands POC listed above 50% and the average
  • #25,656
  • Sep 20, 2016 3:15am Sep 20, 2016 3:15am
DAX Opening Range (also called Initial Balance):
10.430/10.355

50% middle @ 395
It's better to be out wishing to be in... than to be in wishing to be out!
  • #25,657
  • Sep 20, 2016 3:22am Sep 20, 2016 3:22am
Quoting Dutchy Daxy
{quote} On my chart that POC is from Sept 13 (Tuesday) and Highs from Wednesday and Thursday 50 in the DAX is anyway a kind of level where price is hesitating. {image}
Next one would be 455
Went flat. Would go long in the 360 area if we could get there.
  • #25,658
  • Edited 3:47am Sep 20, 2016 3:23am | Edited 3:47am
DAX Short @ 405
See if it wants to test the Weekly POC one more time @380

T1 +11 x 2 lot (E110,00)
1 lot to go/SL BE
FLAT last lot BE

Yesterday was hard to trade.
Today will not be much different I gues

S&P (ES) bounced of its Y OR @ 2138.50
Didn't wanted to follow the DAX to the upside

DAX in the middle of the OR @ 395
So far the 50% of the OR (400 zone) support
It's better to be out wishing to be in... than to be in wishing to be out!
  • #25,659
  • Sep 20, 2016 3:24am Sep 20, 2016 3:24am
the price has reached the breakeven 10400-10390 from this zone have to wait long to get signals
  • #25,660
  • Sep 20, 2016 3:41am Sep 20, 2016 3:41am
There is 9 points difference in the DAX between Futures and CDF's
DAX Futures 9 points lower then CDF price.

ES (S&P) Futures 7 points lower then CDF price
It's better to be out wishing to be in... than to be in wishing to be out!
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