This time like GFIs1's Dax trading journal - as already seen on futures.io (formerly BMT) - a very different trading approach will be on track for testing reasons.
*** IMPORTANT NOTE to ALL followers first:
This thread has NO indication about entry or exit nor does it provide ANY signals! (live or not) ***
That thread has the goal to compare a intraday trading system (like https://futures.io/trading-journals/17862-gfis1-1-dax-trade-per-day-journal.html) with a swing trading system on the same instrument.
The compared results seen here shall give a hint, how to get the most of market moves under different conditions.
It is all here about the bigger picture - aka trading with nerves stronger than steel ;-)
Trading approach by different types of Traders:
1) Scalping: intraday trading with small gains and tight stops / many trades per day
2) Intraday trading: taking profit on intraday moves, wider stops, looking to get the most out of a move / one to five trades per day
3) Swing trading: waiting for a setup with high probability to let win a trader on a wave during several days - wide stop / one trade per wave.
Several members here on futures.io (formerly BMT) state that swing trading is for experienced traders taking some risk overnight/over weekend etc. only - without a possibility to interfere during these off-times - to cash in the highest possible gain per move/wave.
Here we go:
The Dax BIG MOVE Swing Trade Approach is based on a volume chart instead of a time chart. The chart shows for the
Dax future one candle meaning a cumulated volume of 5'000 contracts before the next candle will be formed.
The moves are outlined by a zigzag indicator (setting: more than 20 bars) to see smaller and bigger waves.
As the small waves end - a signal is generated to enter a trade. The exit is defined by 2,5 to ~3 times the range of the
smaller waves and should (hopefully) cash in some significant points.
These results will be compared with the intraday GFIs1 Dax system - I count two to four comparisons per month.
Let's see how these two systems will gallop in the next weeks :-)
The following 9 users say Thank You to GFIs1 for this post:
As the 7000 had been passed (was no longer a strong resistance)
I assume to see our first TP soon be reached.
Depending on how fast we reach the first TP - we might "let run" the
second long above the second TP.
This decision is foreseen for end of today or tomorrow. Expecting
a reverse pricing on Wednesday.