Velocity Trader DAX Journal

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Interesting indeed......Wiggle room= profit.

You then are looking to exit at the profit end....not using a defensive trailing stop I assume. I have noticed many pro's concentrate the way you describe. Buying/Selling into rallies.......

Some techniques implore highly defensive postures by moving a trailing stop up/down and following by 10 ticks/points. I think some of you ES and NQ traders will get handed your head that way in the DAX especially in the first 2 hrs of trading.

Michael B.

Quote from velocity_trader:



I use the depth of market window alot. Once i get in a trade my eyes are on it until i get some wiggle room. Then I constantly look back and forth between it and my charts.
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Quote from velocity_trader:

IF you want the worst draw down I had while only trading the DAX its $17k. You can use 5.5 contracts as a guesstimate as my average size. IS this what you wanted? If it's something else let me know. I'm not trying to be difficult.
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Yes, thank you. 17k / 5.5 = 3.09k drawdown per 1 lot (or 124 pts). And you're experienced trader. 5k for every dax contract is IMHO too little for a beginner. Now I wonder what's the profit potential ( I guess it's higher than swing trading potential ) and how scalable is your method, probably not much, b/c at 1300 contracts a day you already make 1% of total dax volume.
I can't wait to see your results in an upcoming week :cool:
 
I think X-trader is perfect for scalpers such as what your doing. I think that when trading for longer term intraday moves/trends looking at x-traders vertical depth makes it too tempting for quick in and out trades and its a hindurance IMHO.

Do you ever trade spreads? with autospreader?
 
Quote from market_man76:

I think X-trader is perfect for scalpers such as what your doing. I think that when trading for longer term intraday moves/trends looking at x-traders vertical depth makes it too tempting for quick in and out trades and its a hindurance IMHO.

Do you ever trade spreads? with autospreader?
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Not yet. But when Eurex USA starts trading I will give it a try. We are going to become clearing members so we will have a big saving in costs hopefully that will make it worth my while. But I still have alot to learn and think it will take me a while of playing around with spreads to see if I can find something that I can make money at.
 
I using myTrack/myBroker many years,they have just a few problems almost always when they are attacked by virus.(Like last month).If you using myBroker (UK based myTrack),be sure that they have tech.staff/servers in NY as well.
 
I just want to add to what I said earlier so I am not misunderstood here. I didn't mean to say IB is not a good platform for scalping vs other platforms like TT. I know TT is considered as the best but I suspect trading from home over the internet with Xtrader or any of the "faster" platforms doesn't provide any advantage. And I found it funny when I read the Active trader interview of one TT exec claiming nobody can afford to lose a millisecond or a tick trading on another platform. It seems that scalping is done successfully on site with very high overhead costs. If you ask a couple of firms in London what their trader's costs are, it will be upward of $1500 a month. Now you can spend all that and trade like a madman or you can stay at home and spend a LOT less, and use your brains to devise a method and the profit potential is not necessarily lower. (velocity trader admits he has no system or methodology , even if he is successful you can't learn much from him I am afraid because he probably doesn't even know what exactly he does, it's experience of watching the tape and depth, "instinct") .
 
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