Velocity Trader DAX Journal

[Baruch]

According to Reuter's the overall Ifo index is expected to rise to around 96,5 from 95,7 last month.

 

[GoodTrades]

Quote from Baruch:

According to Reuter's the overall Ifo index is expected to rise to around 96,5 from 95,7 last month.

IFO ind. survey 96.5 est range of est.'s (95.4-97.6)

 

[Baruch]

Any trading this morning before the numbers?

 

[GoodTrades]

Yes, but I got chopped up a little.

 

[Baruch]

Did you trade on the numbers?

 

[dpanic]

Mark, Have you always scalp traded the dax, i.e. 4-6 months past when we got more deliberate moves were you still taking the volume of trades you do now or were you staying in more of the trending moves? It's interesting how these markets force you to adapt, I recall not that long ago my typical 1st partial was in the 6-8 point range, now I find myself grabbing 1-2 point here and there hoping for a move to stick it out for a few points in one direction before it starts drifting.

 

[Baruch]

We just had a move on 25 points

 

[dpanic]

yep but look at some charts from 3 months ago. totally different type of move. for me the only setup came right before 4:00am and I held off because of the ifo.

 

[GoodTrades]

Quote from Baruch:

Did you trade on the numbers?

no play "on" the #, but a couple min later bought as we took out the high

 

[GoodTrades]

Quote from dpanic:

Mark, Have you always scalp traded the dax, i.e. 4-6 months past when we got more deliberate moves were you still taking the volume of trades you do now or were you staying in more of the trending moves? It's interesting how these markets force you to adapt, I recall not that long ago my typical 1st partial was in the 6-8 point range, now I find myself grabbing 1-2 point here and there hoping for a move to stick it out for a few points in one direction before it starts drifting.

A few months a go I was making fewer trades and holding a little bit longer. I was still scalping but not as quick to take profits.