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GFIs1 1 DAX trade per day journal


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GFIs1 1 DAX trade per day journal

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  #4611 (permalink)
 GFIs1 
Legendary Market Wizard
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Change in the Index: Dax with 40 companies in future

Aircraft manufacturer Airbus is the heavyweight among the ten additions to the Dax. The expanded leading index is intended to be more representative of the German economy. The new rules are also a consequence of the Wirecard scandal.

Growth for the Dax: The German-French aircraft manufacturer Airbus and nine other companies will join the first German stock exchange league on 20 September. The new composition of the German stock index, which has been expanded from 30 to 40 companies, was announced by Deutsche Börse on Friday evening. In return, the Frankfurt market operator is reducing the MDax of medium-sized stocks from 60 to 50 titles, as announced in November.

With Airbus, the Dax is getting another heavyweight on a par with the car manufacturer Daimler or the insurance giant Allianz. The following nine companies will also soon be on the Dax list: chemicals trader Brenntag, cooking box supplier Hellofresh, holding company Porsche, sporting goods manufacturer Puma, biotechnology and diagnostics company Qiagen, pharmaceutical and laboratory supplier Sartorius, medical technology group Siemens Healthineers, flavours and fragrances manufacturer Symrise and online fashion retailer Zalando.

The Deutsche Börse decided to enlarge the Dax last year. For a long time, Germany's most important stock market barometer was dominated by the four sectors chemicals, automotive, energy and financial services. Now the leading index is to reflect the German economy more representatively.

The composition of the Dax, which has existed since July 1988, is to be regularly reviewed twice instead of once a year. In future, Deutsche Börse will only admit profitable companies to the Dax. Whoever wants to become a member must have been profitable at least on the basis of earnings before interest, taxes, depreciation and amortisation (Ebitda) in the previous two financial years. Bankrupt candidates and groups that do not meet their obligation to publish interim reports on time will no longer have any business in the first German stock exchange league.
Reaction to the Wirecard scandal

By tightening the rules for the Dax family, the stock exchange is reacting to the Wirecard balance sheet scandal. The payment service provider had been able to remain in the Dax for months despite billions of euros in inflated bookings, which came to light in the summer of 2020, because the previous rules did not allow for a quick ejection from the leading index. The fact that the food delivery company Delivery Hero was promoted to the Dax in place of Wirecard, and thus a company that has never earned money in its current business since its founding in 2011, also caused criticism.

GFIs1

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  #4612 (permalink)
 GFIs1 
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The Impact of the Index Adjustment

For long-term investors, the increase in shares will be more visible when looking at the Dax index. For the choice of stocks, this will be able to be a gauge for the investor in his strategy.

However, for the day trader, a more broadly based index will result in less volatility. This is the basis for the profit outlook. In my view, the broadening of Dax members is a diminution of short-term trades.

Let's wait and see what develops from 20 September onwards.

GFIs1

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  #4613 (permalink)
 GFIs1 
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Performance of DAX and New Members 2021 (YTD)

The question is if the new members are performing as well or better than the DAX Index members.
I picked the new members with YTD data to see what happened:



We recognize that the new members are even better performers in the same period. This means that we may see on rallies strong movements as well as on negative news some slips that count! Means for the day traders eventually good results.

BUT:

What does it mean for my systems here?

The existing stop loss settings may be in danger and the performance as well as the patterns here in the system need to be under survey and eventual adaption.

THIS is as well the case for the Walzer - which might will have changes of the rules!

Such background is important for all of us day traders if we see a big change in an index - so we need to be cautious and preparing the next steps.

Happy to hear about your inputs on that theme.


GFIs1

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  #4614 (permalink)
 GFIs1 
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US Labor Day - MONDAY

Not much movements ahead as US markets are closed on Monday.

Good trades

GFIs1

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  #4615 (permalink)
 Deetee 
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GFIs1 View Post

Happy to hear about your inputs on that theme.

GFIs1

Hi @GFIs1,
Thanks for this info. It seems logic that this is going to impact the volatility.
Not sure (like in 'no idea') how much it will effect my statistics. Not much I hope.
Cheers
Deetee

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  #4616 (permalink)
 GFIs1 
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Wednesday trade

extra Gap down...

DAX short 9:00 to 15:30 ***
entry @ 15799
exit @ 15612 (where the first leg ended)
result 187 points

GFIs1

edit 9:11 - Where can we find the next support? - We need to look at the weekly chart - and the first support is @ 15539...

edit 9:20 - and from the FIBO view @ 15516
let's see what comes first - one of the goals or a finish at 15:30

***edit 16:35 - the double bottom of the "W" hasn't finished - so waiting for that completing
finally the second leg formed out! (16:42)

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  #4617 (permalink)
redgreen
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interesting to see.
how do you find / draw this possible support level?

thanks

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  #4618 (permalink)
 GFIs1 
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redgreen View Post
interesting to see.
how do you find / draw this possible support level?

thanks

Thanks for asking @redgreen
First support is on the weekly chart - the important yellow line in the Ichimoku chart.
Second is the fibonacci level chart - which shows a slightly different support as well in the same area.
Will show 2 charts to explain later.

Good trades!
GFIs1

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  #4619 (permalink)
 GFIs1 
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Thursday trade

Interestingly the support (discussed above) had not been reached. Today the DAX starts with another down gap - which leads to a trade. Hopefully the support will be reached and a quick long will bring some points.
Important: ECB decision in the afternoon!

DAX long 10:30* changed to 9:30 to 14:00
entry @ 15543
exit @ 15612
result +69 points

GFIs1

edit 9:20 - *entry might be earlier - Fib 138,20% had been reached on IB - price turned up quickly
edit 13:59 - finally back on yesterday's lows

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  #4620 (permalink)
redgreen
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massive moves. where did you put your SL?

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