TraderJeff
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Posts posted by TraderJeff
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Another reason I prefer DAX to other markets is that I am able to use my own profitable method on it, which I call "Reverse Trades."
In it's simplest form it is a good Entry Point, which is used repeatedly for trades, for as many times as the market price returns to this Entry Point.
This is illustrated in the chart below for 22nd May.
The best Reverse Trades occur when the market beats the Entry Price and then re-crosses the Entry Price.
If this is not clear, feel free to write to me and I will explain in greater detail.
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In a week when reports were few, DAX was affected if perhaps less so, on 14th May, following USA PPI reports.
DAX went down to 18,621 and almost straight back 83 points in one minute. It is very important to have stops and limits in place. My Stop was at 18,741 (my Entry price + 20 points) and Limit at my Third Take Profit Target of 18,650.
The trade on 17th May was more straightforward (see charts below)
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Last week was short on trading days: Monday: UK Bank Holiday, Wednesday: French Holiday, Thursday: German Holiday. But on Friday I went long on DAX (Germany) 40 at 08:28, Entry: 18,774, Stop: 18,754 and closed out my position at 18,848 winning 74 points (see chart below).
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I think another aspect is that DAX has a tendency to make decisive and clean moves - more so than other markets.
For example, I had a really good trade last week, that shows this very clearly (see chart below)
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Another reason I think that DAX is easier to trade than other markets is that the ECB is generally clearer about forward guidance.
For example, I had two really good trades this week, which were helped by Bundesbank President Joachim Nagel's remarks that the ECB's expected June rate cut, will not necessarily be followed by others.
Here are the two trades:
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Yes Goldenbrown, I think you make a good point about being careful when trading.
In my opinion, only trades which are calculated to have a high probability of being correct should be placed.
DAX is a market that can look daunting at first, but after a lot of study and experience with it, I have found it to be easier than the others.
If you would like to see the answers to your other points, please see my IG Community Profile.
Best regards.
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Hello Goldenbrown,
Thank you for your interesting comments. I will answer them tomorrow, when I have some spare time.
Best regards.
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I have been asked to provide annotations for my charts for 15/4/24 and 17/4/24.
In my opinion this helps to show that DAX is easier to trade than other markets.
I would be interested to hear other peoples views.
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Yes I agree Guru, giving current examples is a good way of doing it!
I have been trading for over 20 years and in the last 11 years I found myself mainly trading DAX (Germany) 40, because it is the easiest and most profitable.
Which market do you find easiest to trade, Guru?
Does anybody else find DAX easier to trade than other markets?
I am interested in hearing other traders' experiences.
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Yesterday, the market was divided, so I stayed out.
Today, I predicted that there would be a relief rally on DAX (Germany) 40 in the morning.
Therefore, I went long at the cash open and made 170 points.
Did anyone else have a similar experience?
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For example, look at today's 15/04/24, DAX (Germany) 40 chart action.
I predicted that the market would take off up from the very start and have a positive morning.
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Why do Traders say that DAX 40 (Germany) Daily is the hardest market to trade, when it is the easiest?
Why do Traders say that DAX 40 (Germany) is the hardest market to trade, when it is the easiest?
in Indices and Macro Events
Posted
Another good example of why I prefer DAX to other markets and the use of my own profitable method of Reverse Trades (see my previous post) is illustrated on the chart below for 29th May.
If this is not clear, feel free to write to me and I will explain in greater detail.