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I think it is important to inform traders that it is very important that you be well capitalized before you even think of trading the DAX. It's not difficult to lose $1000 in a couple hours of trading just trading a one-lot. For example, I'm already down $700 net and I only have been trading...

Know how you feel. I'm done trading DAX today too. Up 50 Euros gross, but down about $90 net. 27 RTs. Narrowest range I've seen in many, many months.

Futures have the advantage of having 60/40 tax treatment. That means that 60% of your gains are taxed as long term capital gains and 40% of your gains are taxed as short term capital gains. This is regardless of holding period...so a day trader who trades stocks and makes x amount of money...

This is what a DOM (depth of market) screen looks like. You use it both to place orders and to view how many contracts are being bid and offered at various price levels. This can help you pinpoint where support and resistance is sitting. Just be careful though....sometimes a big size sitting on...

I also use eSignal as for my data feed, and I agree that since July eSignal has been excellent for Eurex data.

Hi Mark, I'm looking forward to your journal, as I'm also a DAX scalper...although I only do about 20-30 RTs a day and only trade the first two hours (so I can get some sleep!!!). Like you I also trade mostly off of feel, but I also use pivots and historical support/resistance levels. Show...

Is that how much you've paid in commissions...or are you the broker on the receiving end? :D

I really have to say I agree with what Scientist and Jayford said. In my 7 years of trading, I have traded listed stocks, nasdaq, options, and futures. I would not classify one type of trading vehicle "easier" or "harder" than another....they're just different. I say: Trade what you feel...

How did this poor guy's journal degenerate into a discretionary vs. mechanical scrimmage? Both styles of trading can work. Success in trading is not so black and white, not so mutually exclusive in terms of profitable trading methods. This needless dichotomization of discretionary trading...

Yes, thanks for sharing. I am a fellow DAX trader (I am an American and I trade the first 2 hours), and then I try to get about 4 hours of sleep and trade the open of the S&P. So basically, I'm a DAX/ES trader. One observation I've made about both markets is that, while the DAX ticks up and...

Fast, If you want to trade ES in today's market environment (i.e., narrow intraday ranges), pay very close attention to support and resistance areas. Start with the floor pivots. This will give you a solid start but is only half the equation. If you're not already familiar with these, just...

If you want to learn about market trading, a Series 7 will do absolutely nothing to help you become a better trader. It may, for example, help you identify the pros and cons of corporate debt securities vs. zero-coupon bonds as a long-term investment. If you think this will help your day...

My guess is that they are synonymous with currency futures, as futures used to be known as commodities. Only a guess though. I've never heard the term "commodity currencies" before.

Joey, Obviously, people are reading your journal. But even if not a soul read your journal, it would still not be a waste of time for you to do it because a trading journal is something every good trader ought to keep even if it is a private journal, not one publicly displayed on an online...

5 points a day is a difficult feat in the current low-volatility market conditions. Not impossible, but very hard. Be very skeptical of anyone making big claims.

Scientist, That was a good post. Traders need to adapt or die. It's as simple as that. The markets have no mercy on those who used to have an edge but lost it when market conditions changed...and they didn't change along with it, nor should the markets have any mercy on them. The market...

Hey BigPunkin, If you are using a 4-pt stop, which is similar to the usual stop I use, I think it's best to expect that you will get stopped out at least once (or twice) before you take that eventual 10-20 point move. DAX flutters around a lot, but most of the micro price moves are just...

Yes, great quote. I'm inspired, too. That's exactly the mentality that is needed to succeed as a trader. PEG LEG JOE

Crappy days are where you really learn. You learn what you did wrong, and, more importantly, you learn about yourself...how you deal with stress, how you cope with adversity, and how you bounce back the next day!! (Hopefully) :D I've noticed that you've started trading the DAX futures...

I also vary my stop size based on the setup. Keep in mind I trade mostly ES and DAX, but in general if I am chasing a trend, I find I need to use a wider stop than if I'm trying to catch a reversal at a support or resistance point. For ES, I'll use a 1.5 to 2 pt stop for following a trend...