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When I just started dedicating myself fulltime to trading, the first months I was lost. I needed a mentor or something, who I could ask my questions. Then I found FIO, and here I found a lot of answers.
And I found GFIs1’s journal. I checked it out, and started copying his trades with FDXM.
It was kind of my first real day-trading. After a few trades with a positive outcome in general, I thought, ‘great, this works’.
On the next trade , I joined the trade with 2 FDAX futures (50 euro per point).
That trade blew me away as I saw the P&L growing rapidly. Full of excitement, I took this picture, with EUR 6k of profits.
I was thinking I hit the jackpot and this system was going to secure early retirement.
DAX short 9:30 to 14:30 *
entry @ 15157
exit @ 15106 (16:30)
result + 51 points
GFIs1
* 14:22 - let it run further - expecting some lower prices after US numbers 14:30
14:30 Boom! down within seconds
Expecting to see the 15k line again today
14:59 - impressive 30m candle down! Hi @ 15186, Lo 15033 - means - 153 points in this short moment
Trading is sort of waiting for the right moment. Today we see a up and down. Including some strong 30m candles: up and down.
Waiting for the exit of this trade today - then we can sum up the total week.
Thanks for your question. My DAX ETF is traded over 'stock3' in Germany. From that platform you can see the charts I posted since some years in this journal.
Other possibilities are from Swissquote Bank - where you can choose from thousands of ETF's. As it is named - a Swiss Online Bank which I frequent since many years.
Have been a very long time I haven't read your journal. You are doing well (as always). Let me ask you the same question I asked (I think) you again a long time ago:
Today, 13.00-13.30 candle high minus your entry point = 54pts. against you. After 14.30 all went ok. Normally you post a SL of 40 or 30 pts (if I remember well). Why don't you post (set) your SL point together with the opening of your position? (at the same time). Most of the people here set the SL point immediately and strictly with the opening of the position to avoid disasters, and this is the biggest problem with DAX trading - erratic moves to hit all the stops-being in the noise and not at the noise. If the US numbers at 14.30 were fine and DAX jumped 100 pts more against you, what would have you post as SL?
Welcome back! Nice to read you again.
You are right: The SL I gave in advance in the past.
Things have changed though.
I do have stop loss of 30 or 40 points during normal moves.
Is the case when I am away from keyboard (afk).
My analysis pre trade has increased in the last years.
So I define "battle lines" like the 16k which was important
for the DAX and now back to the 15k line once again.
On those support & resistance lines price volatility is triple
of normal. So I use the larger moves to my benefit.
Example: Did not trade yesterday as it was sideways.
The today trade was exactly in my sense: As announced
the trade should have stopped 14:30 before US numbers.
As the move up until then was green with a resistance - I knew
the rebound was on the way. Which I noted in the posts above.
And it came so - especially before the weekend.
To get back into history of the DAX: when we were @ 10k or
12k the moves were not making such up's or down's. In
percentage the same with a 16k line things quite different.
This is why I have set wider stops. And don't worry - the
movements are within my risk plan so far.
Have a great weekend and thanks for following!
SCENARIO: the double bottom @ 14944 must be reached. If it will not hold some lower prices at stake... quickly
GFIs1
How do actual HAMAS' attacks on Israel influence the stock markets worldwide?
• Oil prices are rising quickly - around the world
• Strong insecurity of how the markets will continue... - you know my opinion since the last ATH: DOWN
• Israel stock market made a minus of 7% in one day...
• We need to make an analysis of the bigger markets within the today's development
There is HOPE - but sudden insecurity in the markets kill longtime strategies! Never forget.
So: daytrading is a chance to stay on board by tomorrow
