Pull ya DAX up!

[Stratanu]

The DAX confirmed a strong closing last night confirming therefore also Fridays’ positive day reversal. I expect further strength toward the 10’000 level where we expect some good resistance!!
The indicators of the daily chart are now well positive as well as those of the s/t charts supporting further strength. In the hourly chart we have however overbought conditions and potential negative reversals. Nevertheless, while above the 200 hours line at 9758 and expect further strength for this index, move supported also by the confirmation yesterday of the S_H_S formation with an up sloping neck line, today found at 9823!!
I suggest waiting for a possible retest of the 9760 level to go long for a move toward 10’000!!

 

[ThingyMajiggy]

Only traded 2 days last week for +266 ticks on DAX. Took the rest of the week off, unsure why, wasn't feeling in the mood, was focused on other things for a few days, I thought best not to trade when I'm feeling like that.

+220 ticks for today. 2 trades.

Do you prop guys actually increase size and go harder after big days or more lock it in and bugger off to the pub? I guess it's different for each trader, seems like it helps sometimes to have short sweet days and do something else for a while, can sometimes make things clearer.

 

[skc]

This might impact the Dax tonight?

http://www.zerohedge.com/news/2014-...llion-derivatives-20-times-greater-german-gdp

 

[CanOz]

This might impact the Dax tonight?

http://www.zerohedge.com/news/2014-...llion-derivatives-20-times-greater-german-gdp

I doubt it....

 

[VSntchr]

Do you prop guys actually increase size and go harder after big days or more lock it in and bugger off to the pub? I guess it's different for each trader, seems like it helps sometimes to have short sweet days and do something else for a while, can sometimes make things clearer.

Don't trade futures (or prop) but I do trade..so I can offer my input.
I definitely increase size and go harder when my confidence is up. I do the contrary when my results (and hence confidence) are down.
I liken the concept to surfing. If I have been landing every turn on a long wave, then as the wave goes on I am attempting bigger and bigger maneuvers. Whereas if I am surfing sh*t and bogging rail every turn, then I'll be happy to just land a few basic turns.
With my own pairs trading, I just started back after a break by taking sizes that were 10% of my usual full size, but now that I have the equity curve trending up I have been getting closer to full size.

 

[CanOz]

I doubt it....

Sorry SKC, got distracted and hit post before i could finish my thought. The Dax could gap way down, as this news is out...but at the moment, the spread betters (CFDs) have only a .5% gap down on the open priced in, they're usually not that far off. Now i hope it gaps much lower, that could be an open drive opportunity.

 

[skc]

This might impact the Dax tonight?

http://www.zerohedge.com/news/2014-...llion-derivatives-20-times-greater-german-gdp

I doubt it....

Oops. Posted the wrong link

http://www.wsj.com/articles/deutsch...on-write-down-in-corporate-banking-1444249402

Deutsche Bank AG warned it will take a €5.8 billion ($6.5 billion) charge on assets in its investment bank and retail- and private-banking operations for the third quarter and said it could cut its dividend this year.

AND

http://www.zerohedge.com/news/2015-...nk-preannounces-massive-loss-may-cut-dividend

Amid numerous rumors that Deutsche Bank is among the corporations exposed to the VW fiasco, and to be clear there is no news to confirm that, DB has just kitchen-sinked it in a pre-announcement:
•*DEUTSCHE BANK SEES 3Q NET LOSS EUR 6.2 BLN
•*DEUTSCHE BANK TO RECOMMEND DIVIDEND CUT OR POSSIBLE ELIMINATION

Deutsche Bank stock is crashing down around 6% after-hours on the news.

News was out about 6 hours ago... so is it priced in with the Dax? You can still trade the OTC Dax with CFD at around yesterday's close...

 

[skc]

Sorry SKC, got distracted and hit post before i could finish my thought. The Dax could gap way down, as this news is out...but at the moment, the spread betters (CFDs) have only a .5% gap down on the open priced in, they're usually not that far off. Now i hope it gaps much lower, that could be an open drive opportunity.

News was out about 6 hours ago... so is it priced in with the Dax? You can still trade the OTC Dax with CFD at around yesterday's close...

FWIW I am short some DAX CFDs. The CFD maker may or may not have got it right (my guess is they don't)...

DB is some 5% of DAX and after market trade has it pointing down 6%... so that's 0.3% for the DAX as it is. But a news like this will move the whole market...all financials for a start. A 0.5% drop in the DAX is nothing.

it'd be a good reward:risk trade regardless.

 

[CanOz]

I got filled at 56....

Now to wait for cash to open and hopefully not get shaken out....

 

[Trembling Hand]

I got filled at 56....

Now to wait for cash to open and hopefully not get shaken out....

Long or short?

 

[CanOz]

Long or short?

Lol.....you would be able to take me out wouldn't you, it's that thin!

 

[CanOz]

I wonder if this is reflective of a wider crowd....lol

 

[Trembling Hand]

Well that was fun.....

 

[skc]

Well that was fun.....

Took half profit before cash open. Then gave it all back with the remaining stop getting hit.

Then got chopped up nicely on 2 smaller attempts.

:bad:

 

[Trembling Hand]

Took half profit before cash open. Then gave it all back with the remaining stop getting hit.

Then got chopped up nicely on 2 smaller attempts.

:bad:

Ha! I had three attempts at shorting after the cash open up push. First two I cut for not much better than scratch, last one stuck but got jumpy and spewed it to get out. As my luck would have it that was only a few point off the low. : arsy!!

 

[CanOz]

I got shaken, then entered, then stopped....then scratched another half dozen...

 

[skyQuake]

Just go long boys, Deutsche only opened down 2% (and is up 3% now!)

 

[CanOz]

Anyone trading the Dax today? I'm not sure if its my data or not, but it seems a little 'sticky' in the order flow....I've always assumed this was just the way the order flow looked on rotational type days, but not it has me thinking it my connectivity as i had a hard time getting connected today....

 

[Trembling Hand]

Probably just the US holiday trading. Do nothing, then blow one way, then do nothing then repeat....

 

[CanOz]

Probably just the US holiday trading. Do nothing, then blow one way, then do nothing then repeat....

Yeah, ok fair enough. I'm only trading Tues, Wed, Thursdays now. Today was just a catch up day. I'm very pleased i'm not trading this mess. Although i'm also a little surprised it wasn't a little better bid, with the Easing news out of China.