Short DAX at 7740

[shaked]

HI there ASusilovic & younouss

i am new here, and just try to learn and expand my limited knowledge of daytrading the DAX.

sorry for my question, but is it possible to have any idea about the trigger or any other clue for the reason of the trade ?

have a happy and profit year.

shaked

 

[JSSPMK]

Quote from JSSPMK:

I am struggling here

Short 10 min high channel

Sell Hi please

Scaled out 2/3 +10

BREAKDOWN YOU KACKE

Here is a visual of my last entry, last 1/3 was trailed.


<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1739692>

 

[shaked]

Quote from JSSPMK:

Here is a visual of my last entry, last 1/3 was trailed.

Thank you VERY MUCH for your time and explains, i study alot from you.
I hope one day i will be able to give back as much as you do for people here.

do you use fibonacci as well?

wish you best of all.

 

[JSSPMK]

Quote from shaked:

Quote from JSSPMK:

Here is a visual of my last entry, last 1/3 was trailed.

Thank you VERY MUCH for your time and explains, i study alot from you.
I hope one day i will be able to give back as much as you do for people here.

do you use fibonacci as well?

wish you best of all.

I mainly use fibs as a secondary tool in conjunction with standard pivots.

Forgot to TY!

The more you follow intraday price action the more you will develop a sense of anticipation be it catching a falling knife or getting on board a train once it has already left. Whatever method you choose in the end will still be very dependable on your anticipation skills, that's why same method will work for some and not work for others, it's all to do with timely interpretation of price action and money management. All the best!

Just like in certain sports, the one that can anticipate (foresee) opponents most likely next move consistently has an edge over opponent, that is a very basic comparison as there are other variables, although 'frontrunning' provides a huge edge.

Gold bullish formation was identified last night, considering metal's strength and stock market's uncertainty in continuation of bull made me consider hourly and 10 min price action as very bullish.

http://www.elitetrader.com/vb/showthread.php?s=&postid=1739721#post1739721

 

[shaked]

Quote from JSSPMK:

I mainly use fibs as a secondary tool in conjunction with standard pivots.

Forgot to TY!

The more you follow intraday price action the more you will develop a sense of anticipation be it catching a falling knife or getting on board a train once it has already left. Whatever method you choose in the end will still be very dependable on your anticipation skills, that's why same method will work for some and not work for others, it's all to do with timely interpretation of price action and money management. All the best!

Just like in certain sports, the one that can anticipate (foresee) opponents most likely next move consistently has an edge over opponent, that is a very basic comparison as there are other variables, although 'frontrunning' provides a huge edge.

Gold bullish formation was identified last night, considering metal's strength and stock market's uncertainty in continuation of bull made me consider hourly and 10 min price action as very bullish.

http://www.elitetrader.com/vb/showthread.php?s=&postid=1739721#post1739721

THANK YOU VERY MUCH

 

[ASusilovic]

Quote from shaked:

Quote from JSSPMK:

Here is a visual of my last entry, last 1/3 was trailed.

Thank you VERY MUCH for your time and explains, i study alot from you.
I hope one day i will be able to give back as much as you do for people here.

do you use fibonacci as well?

wish you best of all.

shaked,

it´s not important to watch a particular technical indicator like Fibonacci. There are much more issues to be addressed :

Basics

1) What´s your capital base / initial equity?
2) Based on your capital, what´s the maximum margin / equity ratio you want to initiate into one single position ( exposure, asset allocation ) ?
3) If you initiate a trade ( and most probably that´s your question relating to Fibonacci ), WHEN are you initate at WHICH PRICE ? In short : market timing.
4) Risk / reward Ratio :
what part of your equity are you putting at risk in order to achieve your goal ? Example : 25 points risk / 50 points reward.
5) Exit strategy - as important as entries ! I can tell you anecdotes about missing my exits for a single tick and loosing millions in profits therefore...
6) Money management

Conclusion :
the ideal mixture is kind of differential equation with 6 or 7 unknowns...
Never tried to solve this equation because there is never !!! a unique outcome...some smart people trying to solve these kind of problems with decission trees...

More about decision trees :

http://en.wikipedia.org/wiki/Decision_tree

 

[shaked]

Quote from JSSPMK:

I mainly use fibs as a secondary tool in conjunction with standard pivots.

Forgot to TY!


BY the way, when looking back few weeks/months at a FUTURE chart, which one do you prefer. the chart of the current contract ( H8 ) or the continuation one ( there is a big differences between them ) ?


ASusilovic

i agree with you, this are the basics.

i am looking for learning more MIND SETS and open my mind to other's strategies about future daytrading.

all of the successful traders i met always told me that you must never stop learning, always feed your brain with some fresh ideas, strategies. it doesn't mean you have to change your own one. you just have to be aware of others point of view.

i think everyone can teach someone else something new, even if it's a very small thing ( it can be very helpful one day ).

THANK YOU VERY MUCH

 

[JSSPMK]

Quote from shaked:

Quote from JSSPMK:

I mainly use fibs as a secondary tool in conjunction with standard pivots.

Forgot to TY!


BY the way, when looking back few weeks/months at a FUTURE chart, which one do you prefer. the chart of the current contract ( H8 ) or the continuation one ( there is a big differences between them ) ?

I use both, basically continuous (DAX index) for longer term market analyses (purely to feed my mind, I don't trade off long term charts) and during the day I use more or less 24hr chart to see opportunities which at times lead right into the fDAX open, which can not be seen on the RTH chart.

 

[JSSPMK]

Quote from shaked:

Quote from JSSPMK:

I mainly use fibs as a secondary tool in conjunction with standard pivots.

Forgot to TY!


BY the way, when looking back few weeks/months at a FUTURE chart, which one do you prefer. the chart of the current contract ( H8 ) or the continuation one ( there is a big differences between them ) ?


ASusilovic

i agree with you, this are the basics.

i am looking for learning more MIND SETS and open my mind to other's strategies about future daytrading.

all of the successful traders i met always told me that you must never stop learning, always feed your brain with some fresh ideas, strategies. it doesn't mean you have to change your own one. you just have to be aware of others point of view.

i think everyone can teach someone else something new, even if it's a very small thing ( it can be very helpful one day ).

THANK YOU VERY MUCH

Re - fibs

Have a look at 2 minute gold chart now, we had a lift - retrace via a bull flag, now buyers coming in on 23.6%, but R2 coincides almost with 38.2% so that could be a better place to re-enter the run. If entering at 23.6 then it would be prudent (ImO) practise to reduce position size in light of possible further retracement towards R2/38.2 zone, even so that to me has to be confirmed by 1/2/3 minute chart's histograms.

 

[shaked]

Quote from JSSPMK:

Re - fibs

Have a look at 2 minute gold chart now, we had a lift - retrace via a bull flag, now buyers coming in on 23.6%, but R2 coincides almost with 38.2% so that could be a better place to re-enter the run. If entering at 23.6 then it would be prudent (ImO) practise to reduce position size in light of possible further retracement towards R2/38.2 zone, even so that to me has to be confirmed by 1/2/3 minute chart's histograms.

I only have charts for INDEX'S futures but not commodities.
your explanation is very clear and very helpful, thank you.