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DAX futures

  #31 (permalink)
IndexTrader IT
Sydney
 
Posts: 59 since Feb 2017
Thanks Given: 12
Thanks Received: 45

Will set a BUY LIMIT, pending price action in between:
11943
11927

Need to wait for the right setup to occur price action wise
This trade may or may not come off but is what I'm thinking atpoint

STOP LOSS will be under last pivot low 11900 area
No need to hide this information

13:05 UPDATE: ther may be stiff R @ 11981 may have to close if P/A is not conducive to further gains. If SL not triggered this session there may be further upside all depends on how US sessions go
13:50 We are at 11981 and this is telling time its up from here or reverse, still holding + 43 points
14:00 Have lightened some at 11987 profits were over $1100.00 wanted to lock in some pocket money +50 points on partial sells
Remember to always think for yourself in this game

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  #32 (permalink)
IndexTrader IT
Sydney
 
Posts: 59 since Feb 2017
Thanks Given: 12
Thanks Received: 45

This long trade had been milked for all it's worth, the remainder of my positon with profits locked in got stopped out at 11970
I was expecting some headwind at R 11981 as described in my post, once I saw that price action was not conducive for longs I had no choice but to scale out perserving prior gains.

Never fall in love with your position, lol because of this quote I kept vitually all my gain.

Hope everyone did well, either way comment on how you did.
It would be good to hear how you faired.

+50 points
11937 entry to 11987 bulk scale out then small remainder at 11970

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  #33 (permalink)
IndexTrader IT
Sydney
 
Posts: 59 since Feb 2017
Thanks Given: 12
Thanks Received: 45


The last dax session was interesting indeed, in all the bearishness the dax rose 1.14%
https://www.investing.com/news/stock-market-news/germany-stocks-higher-at-close-of-trade;-dax-up-1.14-468383
The real question is why did it ?
One needs to know right ?
NO
It doesn't matter, trade what you see and don't listen to anyone.
Overtime one learns to block out noise, or if you want to listen use it as a reverse indicator lol

OP = (other person)
What will also be interesting is what result the OP will post, there is no way in hell the result will be positive while maintaining a short bias.
Which brings out mistake #2
To state what the direction the market should take then to add when it's time to go long (tomorrow) is just a bit arrogant don't you think ?
Tell me when is there room for EGO or unsubstantiated trade claims in this game.
It's only serves to discredit
Of course plan B "state no trades taken, too busy" that would work but taken with an extra grain of salt.

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  #34 (permalink)
 choke35 
Germany
 
Experience: Intermediate
Platform: Other
Trading: ES, YM, 6E
Posts: 2,668 since Feb 2013
Thanks Given: 5,101
Thanks Received: 6,558

Guess, few would expect the (F)DAX to fall with tons of retail sheep being short all day long
Combined with the DAX you can watch the drama: The only time the retail sheep were long was
when the (F)DAX was short during the RTH opening ...


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  #35 (permalink)
IndexTrader IT
Sydney
 
Posts: 59 since Feb 2017
Thanks Given: 12
Thanks Received: 45


choke35 View Post
Guess, few would expect the (F)DAX to fall with tons of retail sheep being short all day long

Hi choke35

Try not to be too hard on the sheep they are innocent, plus they provide liquidity for the markets

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  #36 (permalink)
IndexTrader IT
Sydney
 
Posts: 59 since Feb 2017
Thanks Given: 12
Thanks Received: 45

Once I saw P/A put in support for the session I went long. As long as this holds I'm on a winner. If not I make or lose nothing.
"Morning star pattern on one hour"
Now letting this trade run
SL in @ BE 12052
Short term resistance 12066
Target 12125 area

Best Trading IT :>
UPDATE: 16:40 have scaled out most after a warning candle at 12069 resis
Session has been tough going

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  #37 (permalink)
IndexTrader IT
Sydney
 
Posts: 59 since Feb 2017
Thanks Given: 12
Thanks Received: 45

This session became quite volitle, the runner position almost got stopped out with a low retest at 12056
My stop was at break even 12052
Sometimes it's pure luck you make money

This can also slightly disprove the myth the the market is pure stop hunting all the time
3 points is all that stood between winning and losing on this trade
+59 points on runner

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  #38 (permalink)
IndexTrader IT
Sydney
 
Posts: 59 since Feb 2017
Thanks Given: 12
Thanks Received: 45

Not much interaction here seems ppl are trading other things

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  #39 (permalink)
IndexTrader IT
Sydney
 
Posts: 59 since Feb 2017
Thanks Given: 12
Thanks Received: 45

12280 next stop, over extension with signal confirmed
Easy 62 pts @ 100.00 / pt

Best Trading :>

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  #40 (permalink)
IndexTrader IT
Sydney
 
Posts: 59 since Feb 2017
Thanks Given: 12
Thanks Received: 45



IndexTrader IT View Post
12280 next stop, over extension with signal confirmed
Easy 62 pts @ 100.00 / pt

Best Trading :>

Unfortunately the next session after making this observation went much higher
Now this call has come true one session out

Proof a trader can go broke being right but being too early, sometimes just as bad as being wrong

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Last Updated on April 7, 2017


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