Velocity Trader DAX Journal

traderob · Dec 13, 2003

Dear mark, me again.
I remeber seeing one of teh posts in this thread where you mentioned levelII but lost it.
I use IB with ninja trader and get some idea of bid/ask pressure a couple of ticks either side.
But how do I get the full benefit of level II , I always thought it was more for stock traders?
Robert

SethArb · Dec 14, 2003

are there any indicators are there for dax / eurex trading

equivalent to NYSE TICK , TRIN , # of advancing , declining issues

I know this sometimes helps me when trading US index futures

GoodTrades · Dec 14, 2003

The "Bloomberg" I use is an actual bloomberg terminal with a T-1 to them.

GoodTrades · Dec 14, 2003

Once the market gets into a range where I'm looking to buy I use the depth of market to try to identify shift in momentum(bids stop getting hit, offer is taken with size...), I don't trade solely off of it.

It is something that you have to get a feel for. 90% of the time it is useless watching it. I've been watching it for a long time and I can just see the patterns on it, I'm not sure how to describe them. I'm sorry for the vagueness, I think it is just something you pick up with time.

GoodTrades · Dec 14, 2003

Quote from SethArb:

are there any indicators are there for dax / eurex trading

equivalent to NYSE TICK , TRIN , # of advancing , declining issues

I know this sometimes helps me when trading US index futures

I've looked and the exchanges don't disseminate this data in the form of an indicator with a symbol. However, you can program adv/dec yourself, and come up with something similar to the trin for the 30 DAX stocks. The TICK is much trickier.

0008 · Dec 14, 2003

Do you only trade the first 2 or 3 hours of DAX? Do you also trade the hour before close?

Baruch · Dec 14, 2003

Why don't you use MACD?

GoodTrades · Dec 14, 2003

Quote from 0008:

Do you only trade the first 2 or 3 hours of DAX? Do you also trade the hour before close?

I trade the DAX from 2:00 am central time to 10:30 central time when the German Equity market closes.

The majority of my trading occurs between 2:00-4:00 and 8:30(when the U.S. open) - 10:30 when the Geraman equities close.

GoodTrades · Dec 14, 2003

Quote from Baruch:

Why don't you use MACD?

I'm just not into that stuff, I've never really used it. I learned to watch volume and price action and other markets that have an effect what ever I'm trading.

Reaper · Dec 14, 2003

Hello sir I've been reading your journal and am finding it very informative and helpful. Thanks for posting it. I am watching the Dax and hope to be trading it during Eurex hours sometime soon. I have a question for you; Is there a website somewhere that lists European Economic News and when it is announced? Just as Yahoo and CNN do for the US.

The Dax moves so quickly to news i would hate to be in a trade during one of these announcements.

Best Regards and thanks

Reaper