Hey city kid Thank for your post how have u been doing on the DAX Everyone keep saying it is very voilatle
ksonsinc, I also went to expo yesterday. Few new companies, few bucket shops, the rest were the same crowd as last year. citykid, I would not make my decisions based on news. I used to in forex and got burned. My primarily focus on news it be on sidelines when they come out. I have Bloomberg and news wires, so I know about all major economic news that come out, but if you can share from your experience what other news affect DAX and where you get them, it would be great. Regards, redduke
u have to keep into consideration the leverage and the fact that stocks are not all over the place as futs; stocks might move and trend more in % but they have much less noise and short term whipsawing.
For small time trading most anyone will do, but if you really go to 30+ a clip you'll have to go with an X-Trader firm, and then preferably one who has a seat on the EUREX...you'll get your fills faster and better quote stream...watch out, lots of the US firms use intermediary clearers for their EUREX business, and they pay on average 20% extra on top of the normal exchange fees and clearing. GET a strategy for the DAX, dont just trade it, shooting from the hip, the contract volatility and tick value is high, although the Eurex has extended the hours to 22:00 now...this has definitely lowered the risk a bit. If you're looking for Day-Trading margins the lowest i've seen is Global Futures at 2k Euro...it can help if you're going to undertake a scalping strategy and want to go in with large positions. If you can read German (I can) check out some of the german/european chat rooms/websites about trading, search on google.de, and then use yahoo-babelfish to translate the pages for you...all the big Eurex traders are over there, Germany, France, Spain. Good Luck...more US traders should checkout European Contracts...I think they differently played, less overplayed as compared to the US indices.
First day trading DAX (sim mode of course). Got 48 ticks out on 1 contract. Plenty of trading opportunities in this market. Big learning curve ahead of me though, since I never traded futures before. redduke
Yeah...two bigger ones I use are www.elitetrader.de (no clue if its related to this .com one) www.broker-test.de, this is a big whopper of a site too, probably better than the ET one. Good luck, get it automatically translated, sure it wont be perfect, but youll get 90% of it right, with babelfish translator. http://world.altavista.com/
Hey red duke What time did u start trading the DAX and till what time how was it - ? Any persoanl advice : )
Ksonsink, I started at the open (3am my time) and traded for about 3 hours. I can not give any advices on this market, and Iââ¬â¢m a total newbie trading futures and DAX. I trade of 3 and 1 min charts. These are the time frames which I use for forex. I went over morning sessions for as many days as I could get from e-signal download, and these time frames seem to have a lot of opportunities. Regards, redduke
Preston Forbes, Thanks for the info. I'll give German forum a shot. Never tried reading forums with translators. redduke