The Ultimate DAX Scalping Discussion Thread!
- Thread starter Scientist
- Start date
Haha. Yep, I remember that. In that instance, watching the EUR/USD movement and the German Bund would have been a good idea. It was only good for scalping the tape or standing aside. It would be ridiculous to assume that ES and DAX draw the same charts. As if Germany was completely dependent on the US, anyway!
I am merely a student of the DAX so I hope you understand that I do not have much to offer in this thread.
Did I get this right? During the day if I open up say 3 dom's of ES, NQ and DAX, will I observe that when the ES or the NQ pumps up I get a leveraged reaction in the DAX? So they actually lead the DAX? Is it really that easy?
Michael B.
Did I get this right? During the day if I open up say 3 dom's of ES, NQ and DAX, will I observe that when the ES or the NQ pumps up I get a leveraged reaction in the DAX? So they actually lead the DAX? Is it really that easy?
Michael B.
Quote from Scientist:
Haha. Yep, I remember that. In that instance, watching the EUR/USD movement and the German Bund would have been a good idea. It was only good for scalping the tape or standing aside. It would be ridiculous to assume that ES and DAX draw the same charts. As if Germany was completely dependent on the US, anyway!
Interesting. For you, something like the 18EMA on the 5-min DAX would probably work well as a "trampolin point". On ES, the 15min 8EMA works well.
Interesting about the "phases" on the ESTX50. Perhaps that's why I prefer DAX thus far. It's certainly more "jumpy", similar to the ES. You're certainly right about the fills - That's probably a main point for trading ES - The massive liquidity and flow on the ES will regularly allow you to cross the market for entries. Something that's rather unusual in most markets.
Scalpers, Swing traders and position traders. All are fine if they make money on their way. It is just different view from another angle. I scalp dax and doing the successfully. I tried to hold for 2-3 days I could not do it because of risk management. So I lost in Swing trading. But If I change my style from scalper to swing trader then I should adjust and retouch my trading plan. So I can put more risk reward ratio for that.
I know one person who has 2 accounts and 1 min before the dax futures close he long one account and short another account in dax futures. As all we know dax is very valotile and 80% it opens gap up or gap down. Some times 30-40 point and sometimes less. We also know that 95% gap filled and dax follow the ES and us market. So my buddy knowsthat dax will open high or low after the US mkt close. At the opening of DAX futures, he close the trade in one account which was in his favour and keep another trades open until the gap filled or his trading plan gets him out. As per his saying he has lost money only for 5 days in last 60 business days and he is up around $40000.00 trading 1 dax contract.
It all depends on person's style. On scalping I cannot allow any dax trade go against me more than 5-6 points. (150 euro) at the most. and I always take my profit 9-10 points area.
I know one person who has 2 accounts and 1 min before the dax futures close he long one account and short another account in dax futures. As all we know dax is very valotile and 80% it opens gap up or gap down. Some times 30-40 point and sometimes less. We also know that 95% gap filled and dax follow the ES and us market. So my buddy knowsthat dax will open high or low after the US mkt close. At the opening of DAX futures, he close the trade in one account which was in his favour and keep another trades open until the gap filled or his trading plan gets him out. As per his saying he has lost money only for 5 days in last 60 business days and he is up around $40000.00 trading 1 dax contract.
It all depends on person's style. On scalping I cannot allow any dax trade go against me more than 5-6 points. (150 euro) at the most. and I always take my profit 9-10 points area.
So your friend essentially is net flat and then trades his trading plan or fills the gap.....with more commission cost and execution labor/risk.....
Michael B.
Michael B.
he is net flat when dax open because of 2 accounts. For suppose if dax gap up 10 point (250 euros) then he made 250 in one account and he lost 250 in another account (assurming the buy/short prices were the same). So he closes his trade in account where he made 250 and keeps running another account which he is in hole for 250.00 and keep it until it gets breakeven and or profitable or get out the trade if it goes beyond his risk tolerance exit.
The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those which fail." Napoleon Hill
The majority of men meet with failure because of their lack of persistence in creating new plans to take the place of those which fail." Napoleon Hill
He is playing the gap with twice the commissions? Why not just wait for the open and then make a single trade with the hope that the gap is going to fill?
let me ask him to join this message board and this thread, so it will be easy for all of us to get question and answer straight forward from him.
"Good ideas are not adopted automatically. They must be driven into practice with courageous patience." Admiral Hyman Rickover
"Good ideas are not adopted automatically. They must be driven into practice with courageous patience." Admiral Hyman Rickover