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GFIs1 1 DAX trade per day journal


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GFIs1 1 DAX trade per day journal

  #2841 (permalink)
 Canozy 
Sydney, Australia
 
Experience: None
Platform: IG, MT4
Trading: SPI, DAX
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Hi GFIs1

Thanks for continuing to share your trades in this thread. I'm a big fan. Are you able to share a bit more on the direction of your Monday and Friday trades.

I understood Monday's trade is in the same direction of the IB candle (although entry times may vary based on rules that seem to be set prior to the IB candle itself)....

Friday's trade i understood tends to be a reversal day where the trade is in the opposite direction of the IB candle. It looks like this Friday (the 17th), the trade was in the same direction as the IB candle (short).

Any further clarifications on how you treat the direction of Monday's and Friday's trades.

Regards

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  #2842 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
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Hi @Canozy

Thanks for following and your kind words!
The GFIs1 rules depend on the physical observations of every weekday's patterns under
many different aspects.
You have seen the main (90% of the trades) basic directions for Monday and Friday.
They work normally when volume (see below) is "OK or GOOD".
There is NO easy description. And no secret sauce.
But there are some dozen rules that are depending on each other in my trading plan like:
- range of previous day
- gap (my special definition of it)
- today's IB crossing the previous day range
- IB volume (you have seen my "normal vol for IB from 6K to 10K) and more rules upon
- news (with time of the day) like IFO ECB US numbers to stay out of peaks
- holidays - very important: during the week, end of week or beginning of the week - especially US holidays

To be honest - the Wednesday rule set is the most complex of all.

The goal is to have a good pattern for the given situation that works in >70% of the trades positive and
does not step into the risky minutes of known or unknown news.

Conclusion:
You are on the right path. The rule set is to complex to describe it here in detail.

Your hint of the last Friday trade was a reaction (mentioned as a "slight rule change") to my rule set:
Normally I do not trade when volume is really low. But for the holiday rule I tried to anticipate things
for low volumes. I need to backtest that one as well to give it a place in the whole rule set.
And to make it clear: I only take DAX cash hours to detect my patterns. All pricing outside the cash
hours are neglected. Is also true for measuring price range and gaps.

Happy weekend

GFIs1

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  #2843 (permalink)
 Canozy 
Sydney, Australia
 
Experience: None
Platform: IG, MT4
Trading: SPI, DAX
Posts: 29 since Oct 2016
Thanks Given: 126
Thanks Received: 49


Thanks GFIs1 for the reply and sharing the information around the factors you use in determining the direction, entry and exits. I seem to recall you are a user of the Investor RT platform and can see evidence from some of the homework videos in some of your thinking. I'm still a novice at this platform and working my way through the process on becoming more proficient.

Thanks again.

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  #2844 (permalink)
 GFIs1 
who cares
Legendary Market Wizard
 
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Canozy View Post
Thanks GFIs1 for the reply and sharing the information around the factors you use in determining the direction, entry and exits. I seem to recall you are a user of the Investor RT platform and can see evidence from some of the homework videos in some of your thinking....

Thanks for your interest.
Yes - Investor/RT was always part of my strategic thinking. Finding patterns - or discussing Fibonacci - or using
the software to program signals sent to the smartphone: everything is exciting. With the help of the top crew
Chad Payne and Bill Linn I found ways to program the needed parts for my trading that works.
In fact - the software is most potent and you need to formulate your trading plan very well to get it programmed
and let sending you the needed information any time to take THE trades that make you profitable.

BUT: in any case you need to do your homework(s) carefully!

Good trades!
GFIs1

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  #2845 (permalink)
 GFIs1 
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Dax long 9:30 to 15:00h

entry @ 11814
exit @ 11896
result 82 points

IB vol good

GFIs1

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  #2846 (permalink)
 GFIs1 
who cares
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Posts: 6,921 since Feb 2012
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Coming back to "normal" volumes we get good results concerning the daily range.
Even the GFIs1 trade let some coins on the table
The main observation of course means back to normal after those ridiculous election
things in US that was eating months... That is the good news!
With those movements we might see for sure soon some nice Walzer again.

For tomorrow though a short in THIS thread is foreseen. (Only valid for Wednesdays).

Lets see what will happen.
GFIs1

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  #2847 (permalink)
 GFIs1 
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The upper resistance is reached again.
Before jumping over 12K we need to see tomorrow some profit taking which
sends prices down for a short moment.

The next upmove is not far from now - with all the hype of "good numbers" around.

GFIs1

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  #2848 (permalink)
IndexTrader IT
Sydney
 
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GFIs1 View Post
Dax long 9:30 to 15:00h

entry @ 11814
exit @ 11896
result 82 points

IB vol good

GFIs1

Nice to hear of your gains, it pays for those days when it goes nowhere chop etc.
A nice index to trade "when" one times it right.

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  #2849 (permalink)
 GFIs1 
who cares
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IFO Day - numbers 10:00h - things different

Dax short 10:30 to 16:30h

entry @ 11998
exit @ 11991
result 7 pts

IB vol good

GFIs1

edit 11:13
IFO numbers were VERY good - but things were priced in already.
Some taking profits may occur today.

edit 14:03
Goal for 16:30: 11933

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  #2850 (permalink)
ForcefielD
The Netherlands
 
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GFIs1 View Post
IFO Day - numbers 10:00h - things different

Dax short 10:30 to 16:30h

entry @ 11998
exit @
result

IB vol good

GFIs1

edit 11:13
IFO numbers were VERY good - but things were priced in already.
Some taking profits may occur today.

I was hoping too that those IFO numbers were priced in already! Although some volatility always occurs whether its priced in or not. Why do you say IFO numbers were good, when higher IFO numbers were expected? I am not saying they're bad, I always try not to judge, but look at the chart and see if it provides me with an opportunity. Because... you shouldn't care if those numbers are good or bad, right?
I hope to see some profit taking today as I am stuck in a trade from last day, so I definitely hope you are right, well you are so far! Best wishes!

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