GFIs1 1 DAX trade per day journal

May 2nd, 2014, 04:17 AM

ijcarruthers

Morning GFIs

Newbie to your thread and ran through last night

What is the stop on these trades? Is it 30 as standard? I noticed on occasions there was different levels. i.e. tighter stop?

Thanks

Hi @ijcarruthers
Thanks for following. Yes - normal stop is 30 points.
Tight stops might occur when a setup is seen but price is moving opposite right away.
Example price is near a resistance and should turn but does not.
So these stops can vary depending of the situation from 10 to 20 points.

GFIs1

May 2nd, 2014, 05:27 AM

Thanks GFIs1

I the case of a tighter stop you will advise of at that time? Therefore unless advised otherwise the stop is 30 points.

All interesting viewed your thread as I also focus on the Dax opening range trades albeit the first phase .... just after the open. All good stuff.

May 2nd, 2014, 05:40 AM

ijcarruthers

Thanks GFIs1

I the case of a tighter stop you will advise of at that time? Therefore unless advised otherwise the stop is 30 points.

All interesting viewed your thread as I also focus on the Dax opening range trades albeit the first phase .... just after the open. All good stuff.

Thanks - normally if the stop is tight - it is announced at entry time.
Very rarely I stop a trade manually - but 98% of trades are playing out - either
stopped or taking the gain.

Good trades
GFIs1

May 2nd, 2014, 06:05 AM

Hi GFIs 1

Assumption is that close prior to 14-30 CET due to Non Farm Payrolls at that time?

Thanks

May 2nd, 2014, 06:18 AM

ijcarruthers

Hi GFIs 1

Assumption is that close prior to 14-30 CET due to Non Farm Payrolls at that time?

Thanks

To keep the risk of stop hunting little I prefer to get out of a trade before important US numbers.
There are of course exceptions - especially before longer weekends where the numbers will no longer
attack the morning entry but will continue the path since opening.

GFIs1

May 2nd, 2014, 05:22 PM

This week had 3 trades during a bit a shaky phase:

Two negative: minus 30 points SL, minus 13 points
One positive: plus 37 points
Weekly result: minus 6 points
Points since week 2: 412

GFIs1

May 3rd, 2014, 03:03 AM

GFIs1

And we get to normal next week.

Nearly, it's another bank holiday Monday in the UK.

May 3rd, 2014, 04:51 AM

ratfink

Nearly, it's another bank holiday Monday in the UK.

..the Dax will be traded though. As I think that US futures are influencing the Dax more than GB's there
should be a normal week in the Dax.

The main point is that if there is a US or German holiday during the week - the normal money flow in
the markets and flow out of the markets is no longer in order (aka higher vola with lower volume).
In those weeks trading futures is of higher risk.
Just a thought.

Happy weekend!
GFIs1

May 5th, 2014, 03:34 AM

Dax short 09:30 to 14:00

entry @ 9549
exit @ 9436
result 113 points

low volume..
thin signal..
tight stop

GFIs1

plays out.. today 9350 highly possible

edit II: will close the short @ 14:30 as the downmove started 30 min. later than
the system had foreseen..

May 5th, 2014, 04:59 AM

Morning GFIs1

Thought there was no post this morning and just saw just now posted around 9am London Time.

Just for clarification the trade is also always the direction of the 9-30 CET 5mb?

As indicated my strategy is the earlier phase therefore had the breakdown as well huge move @ 10-25 CET

I have scaled out on way down on fib levels completely out now as we're getting consolidation.

Thanks

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GFIs1 1 DAX trade per day journal