Pull ya DAX up!

[cynic]

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

Yep. Their stockmarkets will be open but no bonds trading which probably makes it less appealing to the whales.

I'm still a little bit short after last week, and with the speed and size of this upswing, I've managed to haemorrhage all off the previous week's profits.
In essence, it's managed to serve me a slice of heaven sandwiched between two slices of hell, all within the first month of this quarter.

Edit: First line is in relation to availability/unavailability of US stock/bond markets during their Columbus day holiday.

 

[Stratanu]

Trading View Today: The DAX confirmed again a weak closing after a few sessions of mixed closing. However, a daily closing tonight below 9935 could already confirm a s/t top suggesting a resumption of the decline.
The indicators of the daily chart are still well positive showing however potential negative reversals. The indicators of the s/t charts turned instead below the line suggesting for the coming hours a possible test of the 200 hours line at 9780. This decline is corrective based on the hourly chart a little in contrast to the daily one.
The drop below 9939, now s/t resistance, confirmed a small S_H_S formation supporting a deeper correction suggesting even a 9750 undershooting.
I try a short position in case of a 9995 overshooting with a stop above 10’070!!

 

[cynic]

...
I try a short position in case of a 9995 overshooting with a stop above 10’070!!

A 75 point stop on a DAX trade!!

You're a braver trader than I am! A most courageous trade indeed!

All the same, I do wish you the best of fortune with your trading endeavours (provided of course, that you're not on the opposite side of any of my trades).

 

[Stratanu]

Trading View Today: The DAX confirmed a further weak closing below the low of the previous session suggesting that a top could be in place for the DAX. After a possible correction we expect further weakness suggesting even a resumption of the decline!
The indicators of the daily chart are still well positive showing however potential negative reversals. The indicators of the s/t charts are instead still below the line supporting further weakness. Bullish divergences confirm the negative tone. While below 10’025 I favour a move toward the 200 hours line, now found at 9812.
I sold as expected the 9995 overshooting. Put a stop at 10’075!!

 

[Stratanu]

A 75 point stop on a DAX trade!!

If sure of the level of entry, the 75 point stop is not so bad

 

[Trembling Hand]

If sure of the level of entry, the 75 point stop is not so bad

Trading View Today: The DAX confirmed a further weak closing below the low of the previous session suggesting that a top could be in place for the DAX. After a possible correction we expect further weakness suggesting even a resumption of the decline!
The indicators of the daily chart are still well positive showing however potential negative reversals. The indicators of the s/t charts are instead still below the line supporting further weakness. Bullish divergences confirm the negative tone. While below 10’025 I favour a move toward the 200 hours line, now found at 9812.
I sold as expected the 9995 overshooting. Put a stop at 10’075!!

Looks like your cut and paste weasel words are a day behind. You are talking about "confirmed a further weak closing" when the DAX has open up and ran straight through yesterdays high and only one push off your stop.

 

[CanOz]

If sure of the level of entry, the 75 point stop is not so bad

hmmm, 75 x 25 Euro per point is 1950, call it 2k. If you're risking that on a trade you better have a 200k account, or at least a 100k account and its your star play.

Or get a CFD account.

 

[Trembling Hand]

hmmm, 75 x 25 Euro per point is 1950, call it 2k. If you're risking that on a trade you better have a 200k account,

He hasn't got an account. He is just a feeder for affiliate broker commissions. As luck would have it its the same sort of thing that the Financial Conduct Authority in the UK announced today would be looking into.

 

[marknz88]

Thought this might be of interest to some of you - Eurex is releasing mini DAX futures on October 28. The question is, will traders jump on board and pump liquidity into them or will it go the way of other recent mini contracts where it is market maker vs. market maker.

"Eurex Exchange, the international derivatives market of Deutsche Börse Group, will launch a new equity index contract on 28 October 2015. The Mini DAX Futures will be offered in addition to the existing DAX Futures (FDAX). Its key distinguishing feature is the significantly lower contract value, at only a fifth of the DAX Futures.

“The new Mini DAX Futures contract addresses together with the existing DAX Futures the needs of our users for more precise fine-tuning of their hedging positions,” said Mehtap Dinc, member of the Eurex Executive Board. “At the same time, it is also aimed at semi-professional investors who are primarily investing into OTC products like CFDs because of the large contract value of the DAX Futures.”

At the launch of the new product, Eurex Exchange will offer a designated market-making program in order to provide a liquid order book from the outset. A number of Eurex market participants have already expressed their interest in this program.

The Mini DAX Futures have a contract value of €5 per index point; and the minimum tick size is one index point. It will be settled in cash like all Eurex Exchange index derivatives. The product will be tradable from 8 a.m. to 10 p.m. CET."

Eurex Press Release

 

[CanOz]

I wonder if the Dax mini will be taken up this year by brokers? Seems the SPI mini has not as of yet....


Dax Trend day today? Two NR days in a row...When Vol is over 2.2 we don't have many more than two days in a row before a wider ranging day....

 

[CanOz]

What a freak'in day

Missed the open with fatherhood duties, caught some of the bullish momentum and then proceeded to get my a** handed to me buying stupid breakout failures until thankfully, the market broke with the news and i got it all back save a few points....:burn:

 

[subterfuge]

Damn. 6 lost trades in a row on the dax so far today.
Thought it was looking like a trend down day.
I've lost over 8k on my last 400 trades
I wish their was something better than TA and charts patterns etc
Every move seems to go against me.

 

[shodd]

Damn. 6 lost trades in a row on the dax so far today.
Thought it was looking like a trend down day.
I've lost over 8k on my last 400 trades
I wish their was something better than TA and charts patterns etc
Every move seems to go against me.

I would recommend trying to learn reading ordeflow from a DOM - and start out by looking at a more liquid contract like FESX. You have more time to spot orderflow based setups in a thicker market. The DOM is only part of the picture though; you'll need context to go with it (event risk and intermarket relationships in particular).

 

[Trembling Hand]

Damn. 6 lost trades in a row on the dax so far today.
Thought it was looking like a trend down day.
I've lost over 8k on my last 400 trades

We have all been there!!

You trading live or sim?

I wish their was something better than TA and charts patterns etc
Every move seems to go against me.

I think there is,

Could you put up a chart with where the trades were taken. I find when I am having lots of stop outs in a row its comes down to two things,

1. I'm just plain wrong and too silly not to recognise it.

2. I have a longer term idea but not patiently implementing it or trying to squeeze too much out of the idea instead of taking bites of profit from the idea. By that I mean instead of getting in 1 trade and thinking its going to run in a straight line for 200 ticks I should be taking 30-40 ticks closing out and then looking for another setup. This requires observation of the market context.


Its getting harder and harder to ride trends intraday and the ability to read the context or market state is what I find makes the difference between good trading periods and losing a heap of cash. Tradition TA and charts patterns haven't "worked" for a long time and are becoming less and less important. From my observation TA has never been what its about and those that are still hung up on it are either selling you a service/dream/lie that doesn't work or those that have bought into the service/dream/lie and bleeding money.

 

[tech/a]

Both are spot.
Particularly the T/A observation.

For me I want to be involved in fast moving markets.
All boats rise and fall on King Tides.

I generally have little idea (and an open bias) when I sit down on what is going to happen.
But it will happen quickly and decisively often in both directions in a short period of time.
I've been and gone in most cases in 1-2.5 hrs. If it doesn't(in an hr. or so) Ill go.
I don't HAVE TO trade.

Often my best position is no position.

 

[CanOz]

We have all been there!!

You trading live or sim?



I think there is,

Could you put up a chart with where the trades were taken. I find when I am having lots of stop outs in a row its comes down to two things,

1. I'm just plain wrong and too silly not to recognise it.

2. I have a longer term idea but not patiently implementing it or trying to squeeze too much out of the idea instead of taking bites of profit from the idea. By that I mean instead of getting in 1 trade and thinking its going to run in a straight line for 200 ticks I should be taking 30-40 ticks closing out and then looking for another setup. This requires observation of the market context.


Its getting harder and harder to ride trends intraday and the ability to read the context or market state is what I find makes the difference between good trading periods and losing a heap of cash. Tradition TA and charts patterns haven't "worked" for a long time and are becoming less and less important. From my observation TA has never been what its about and those that are still hung up on it are either selling you a service/dream/lie that doesn't work or those that have bought into the service/dream/lie and bleeding money.

Great post TH,

This has been my issue the last two weeks. I've been in dozens of trades that have gone 10-20 ticks in my favor (6 last night alone), only to see them come back on me and stop me out. I'm trying to hit a home run instead of lots of singles (to butcher up an old analogy)....Recognizing that moves have or have no follow through is really important if your staple play needs follow through. If there is none at the time because vol is declining then you need to adjust the play. I ended up clawing back the losses last night to finish up on the day, but still have work to do to get last weeks losses back (not that i'm dwelling on that).

The biggest learning outcome of the last two years has been for me that you can learn more by looking at your own trading than any book can ever teach you.

 

[CanOz]

Both are spot.
Particularly the T/A observation.

For me I want to be involved in fast moving markets.
All boats rise and fall on King Tides.

I generally have little idea (and an open bias) when I sit down on what is going to happen.
But it will happen quickly and decisively often in both directions in a short period of time.
I've been and gone in most cases in 1-2.5 hrs. If it doesn't(in an hr. or so) Ill go.
I don't HAVE TO trade.

Often my best position is no position.

I agree that with the Dax the first two hours is usually the best. The market has fewer choppy periods and tends to do the trending then. There is however an exception. The Dax, if its balanced, will tend to consolidate in choppy trade for a few hours sometimes into a large range and then either breakout of the range after the European lunch or during the open of the US session.

Its also my observation that generally if the post lunch period is bullish, expect continuation into the US session.

Also, i watch the ES, the FTSE, the FESX and 6J for confluence, the Bund and Bobl as well from time to time. If these markets don't agree with my directional bias at the time of a trade i don't tend to pull the trigger.

 

[tech/a]

Can
I agree with what your saying.
But as I'm asleep I miss many trades
2-3 hrs. on days I think are going to be strong
suit me.

 

[CanOz]

Yup, understand, even worse now that daylight savings has ended in Europe. The pre-cash opens at 3 pm here now.

Might be moving day today!

 

[Trembling Hand]

Yup, understand, even worse now that daylight savings has ended in Europe. The pre-cash opens at 3 pm here now.

And cash opens at 7 pm in Eastern Oz!!! Leaves a lot of time for me to fill in the day. Might have to get a day job just to keep me out of trouble....