Jump to content

DAX


Recommended Posts

short at 13186.9, stop at 13225.  minimum size.  looks relatively quiet.  drop earlier accelerated after h&s pattern formation with declining neckline - rebound stopped below right shoulder level.  no significant news.  don't expect  US consumer price release to have much impact on Dax. Expecting US starting to give back most of their overnight gains before open - and pulling Dax down with them.  medium conviction. semi-experimental trade.  (risk 20 quid).  if it moves in favor, review at 13130 the latest.  if not, staying out of DAX for today.

 

 

Germany 30_20200911_07.00 (1).png

Link to post
  • Replies 198
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

good luck though that's a pretty strong run back up to the pivot, wouldn't be willing to bet against it myself. certainly if the Dow heads lower dax likely to follow.

Look at how the Fibs line up with monthly Pivots here 🤓  

mate, your weakness is you've got a gambling addiction, the only way out is a rules based system that you can stick with because testing proves it works or just giving up and seeking professional help

Posted Images

3 minutes ago, Caseynotes said:

good luck though that's a pretty strong run back up to the pivot, wouldn't be willing to bet against it myself. certainly if the Dow heads lower dax likely to follow.

thanks, yea, looks like it was wrong - perceived weak support at 13182 held very well...  and 13205 didn't prove much of a resistance..  watching..

Link to post
1 minute ago, dmedin said:

Nah, don't go short...

 

Germany 30_20200911_12.17.png

how do you get those funny points into your charts...?  seriously, just read the basics about pivot points, another one yet to become confident in...  

Link to post
2 minutes ago, HMB said:

how do you get those funny points into your charts...?  seriously, just read the basics about pivot points, another one yet to become confident in...  

Parabolic SAR :)

Pivot Points will often line up nicely with Fibonacci ratios...

Use a filter to stop you going long and short indiscriminately, I won't go short if price is above 200 EMA

Edited by dmedin
  • Like 1
Link to post
2 minutes ago, dmedin said:

Parabolic SAR :)

Pivot Points will often line up nicely with Fibonacci ratios...

Use a filter to stop you going long and short indiscriminately, I won't go short if price is above 200 EMA

great - got it! thanks

  • Great! 1
Link to post
22 minutes ago, HMB said:

short at 13186.9, stop at 13225.  minimum size.  looks relatively quiet.  drop earlier accelerated after h&s pattern formation with declining neckline - rebound stopped below right shoulder level.  no significant news.  don't expect  US consumer price release to have much impact on Dax. Expecting US starting to give back most of their overnight gains before open - and pulling Dax down with them.  medium conviction. semi-experimental trade.  (risk 20 quid).  if it moves in favor, review at 13130 the latest.  if not, staying out of DAX for today.

 

 

Germany 30_20200911_07.00 (1).png

closed at 13186.4.  don't like the 13182 support

Link to post
2 minutes ago, HMB said:

yea.  just again confirmed support around there.  closed the trade.

...and now a Doji and hamemr - confirming my conspiracy theory..: the market against me...

Edited by HMB
Link to post
1 minute ago, HMB said:

went long after the green 1M candle rising above the weak short-term resistance 

Germany 30_20200911_07.36.png

admittedly not the most thought-through trade...  but minimum size (less than 12 quid max loss)

  • Great! 1
Link to post
3 minutes ago, Caseynotes said:

I was in a long off the pivot earlier but when it started back down off the flat top I just bailed at break even but it looks like it's got a better chance this time.

ok

Link to post

btw - probably nothing, but if I was a US broker, I'd reluctantly let the market fall today as a matter of principle if I don't have to..

13 years when it was a weekday  - 3 days close below the open.  open to close up half a percent on average

 

911_performance.png.6e91e0a7d06c8bb146ae9cbb54033dce.png 

 

 

Edited by HMB
  • Thanks 1
Link to post

ok, that's it.  went short NDX after open, made 50 quid, then lost it by going long with weak support - didn't take a break to think but tried to make it back immediately with larger bets with nano stop distances - like out of my mind -  took minutes to reduce my account from 300 to 13.  then one last short, stop hit, account size moved to 0.01.  incredibly tempted to refund.  but will at least avoid that.  guess I need an emergency break.  another instant of the same lesson I just won't learn: avoid trading in a state of complete mental unpreparedness..! you probably won't hear from me for a while.    

  • Like 1
  • Sad 1
Link to post
2 minutes ago, dmedin said:

 

Start from the daily chart and work your way down.

The 15 minute time frame is crazy.  Anything less is insane.

this would probably help to avoid reacting too quickly, yes.

Link to post
Just now, HMB said:

this would probably help to avoid reacting too quickly, yes.

Look at how the Nasdaq is clinging to the 50 MA on the daily chart.

That is screaming 'WAIT'.

Wait for a decisive break one way or the other...

  • Like 1
Link to post
5 minutes ago, dmedin said:

Look at how the Nasdaq is clinging to the 50 MA on the daily chart.

That is screaming 'WAIT'.

Wait for a decisive break one way or the other...

In general waiting protects you, I would say. 

Link to post

There is a trading psychologist Steve Ira phrases it like this:  you must deeply, emotionally accept losses.  Now what I see more clearly today than before, is that this requires me every time, to take time to consciously mentally prepare for losses before even looking at the screen.

In my case, not being mentally prepared for losses leads to trying to make them back immediately when they happen, which leads to large size trades with tightest stops, which come with highest probability of failure - and eventually send me into an account -burning spiral.

Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • General Statistics

    • Total Topics
      13,817
    • Total Posts
      68,850
    • Total Members
      57,575
    • Most Online
      5,137
      14/01/21 09:51

    Newest Member
    uareddy
    Joined 27/01/21 20:42
  • Posts

×
×
  • Create New...