I Hate Reversals

maxinger said:
You were talking about 1 Jun DAX trade.
I just checked my trade journal.
I was trading during that timeframe too.


In general, I don't like getting signal from DAX alone because I felt DAX tends to be laggard.
I normally intercorrelate DAX with NQ, and to some extent ES.
DAX has been trading sideway since 29 May.


On 1 Jun asian session, NQ started its uptrend for whatever reason ( US vs world trade matter?).
Then on 1 Jun European session, NQ continued its uptrend.

So I longed both NQ ( with multi lots) and DAX (with reduced quantity);
NQ being lead, and DAX laggard.

NQ has been known to be rather tradable outside US session.
More...


Look at today performance.
ES YM NQ continue to go up, DAX reversing to go down.
I normally avoid trading dax due to the reason stated above.

BUT have to watch out because things / fundamentals might change.
 
maxinger said:
You were talking about 1 Jun DAX trade.
I just checked my trade journal.
I was trading during that timeframe too.


In general, I don't like getting signal from DAX alone because I felt DAX tends to be laggard.
I normally intercorrelate DAX with NQ, and to some extent ES.
DAX has been trading sideway since 29 May.


On 1 Jun asian session, NQ started its uptrend for whatever reason ( US vs world trade matter?).
Then on 1 Jun European session, NQ continued its uptrend.

So I longed both NQ ( with multi lots) and DAX (with reduced quantity);
NQ being lead, and DAX laggard.

NQ has been known to be rather tradable outside US session.
More...

I think YM was a bit ranging at that time.Why NQ and not YM?
 
Laissez Faire said:
What you're really saying is that you hate the market, since the market is nothing but an endless sequence of 'reversals' of various sizes.

If you want to be a sucecssful trader, you need to learn how to play these reversals. It's as simple and as hard as that.

Shorting a triple top on that basis alone might be considered naive if that's your whole rationale, so at least use a tight stop on such an entry.
More...
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I hate sideways slop chop more than trend changes; good thing the stock market seldom changes[ or reverses] its main trend. But since the DAX market never consults me; i look for trends i like. Knowing in the past, July-SEPT, can be the most shallow in US Stock market. If not true in 2018. Your English is fine; i use a much longer time frame, like 52 weeks+ a trend more like your Nasdaq 100 smoother trend/fordewind.Dont know if this help daytrading, but in US stocks, 3 or 4 monthly candles off bottom would not usually be a good short; 4 or 5 day candles up, could be/turn to a down dipTo sell something, i find a stock/sector.... like Deutsche bank, fundamental, funds technicals/price bearish.:cool::cool:
 
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