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GFIs1 1 DAX trade per day journal
Started:February 18th, 2012 (07:46 AM) by GFIs1 Views / Replies:263,416 / 2,763
Last Reply:1 Hour Ago (02:49 PM) Attachments:173

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GFIs1 1 DAX trade per day journal

Old February 29th, 2012, 04:42 AM   #41 (permalink)
Trading Apprentice
Ohio
 
Futures Experience: Master
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lets see how the market will go...


GFIs1 View Post
Last day of february

Taking a DAX short here 09:30 @ 6938
exit for 14:30 (before US numbers)

GFIs1

is there any reason for taking a short trade 6970 seams to be
the next resistance level, on the other hand S&P is at the high of the
day so that could lead to an reversal...

at 9:55 we have important job numbers from germany
lets see how the market will go...

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Old February 29th, 2012, 05:14 AM   #42 (permalink)
Market Wizard
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tradereight View Post
is there any reason for taking a short trade 6970 seams to be
the next resistance level, on the other hand S&P is at the high of the
day so that could lead to an reversal...

at 9:55 we have important job numbers from germany
lets see how the market will go...

Hi tradereight

Thanks for your input!
After the rally from the last days the battle for DAX 7000 seems to be a little early.
My short was because:
Following my Rules. :

GFIs1

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Old February 29th, 2012, 05:20 AM   #43 (permalink)
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hi

I am short in the Dax too

my SL is 6963

what SL do you have?

thanks for sharing

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Old February 29th, 2012, 05:26 AM   #44 (permalink)
Market Wizard
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Hi TenCent

My SL is 30 points for this day - means 6968.
As the previous high was 6975 - a SL @ 6978 might be appropriate.
Though I think the SL is not the theme today.
Precision for this statement: Price will not build a double top
here because the the next higher levels are in the view...
7K+
Much more looking
for a nice exit.

GFIs1


Last edited by GFIs1; February 29th, 2012 at 05:38 AM.
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Old February 29th, 2012, 06:34 AM   #45 (permalink)
Market Wizard
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Futures Edge on FIO

Are you a NinjaTrader user?

 
strange enough - even my SL price level was touched
the SL was not filled

Looking forward :-)

GFIs1

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Old February 29th, 2012, 06:57 AM   #46 (permalink)
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theme of the day is LONG to end a bullish month

just exited my long trade at 6970 resistance level

maybe soon we get a short setup, but we should have
longer up trends today as it is the last day of the month (window dressing)

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Old February 29th, 2012, 07:04 AM   #47 (permalink)
Market Wizard
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2 cents:

1) The bulls may come with the US numbers after 14:30h.
2) We note an Up-gap today which is still not closed..

which leads me to be cautious with longs before US numbers mentioned

GFIs1

***looking for 6865 (VWAP yesterday)***


Last edited by GFIs1; February 29th, 2012 at 07:15 AM.
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Old February 29th, 2012, 07:40 AM   #48 (permalink)
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GFIs1 View Post
2 cents:

1) The bulls may come with the US numbers after 14:30h.
2) We note an Up-gap today which is still not closed..

which leads me to be cautious with longs before US numbers mentioned

GFIs1

***looking for 6865 (VWAP yesterday)***

I agree with you, a good correction down to VWAP level would be perfect for us daytraders :-)
at the end of the day for the dax index it will still be a positive day if we close above 6890 on,
i am now also short (now that VWAP line on 1 min chart clearly points south I used the rally to enter
short at 6933)

congratulation to your 30 points :-) but as said entering after news releases might give you a better risk reward factor ...

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Old February 29th, 2012, 08:15 AM   #49 (permalink)
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hi

thanks a lot for sharing your views about the Dax

also my Congratulations for your winning Points

I was away from my PC - and just see now, my SL was hit

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Old February 29th, 2012, 08:17 AM   #50 (permalink)
Market Wizard
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To be honest - I have a rule for the last day in the month which does not include german numbers in any case.
As I am here only doing 1 trade for the day it is not allowed to invert a trade intraday. This is why my entry is in the morning with a high probability for a triggered direction and to follow that trade to close it before US trading is starting.
Congrats for your day high long which worked fine.

GFIs1

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