Discussion in 'Journals' started by JSSPMK, Feb 18, 2007.



    Will be posting blotter of daily DAX trades.


    1. Make more than lose;
    2. Limit risk by exiting/reversing @ HOD/LOD adjusting size based on entry/stop range;
    3. Ride a trade (I find that the hardest).


    -11.00 points

    Last buy ticket remains open.

    Personal notes:

    1. Rushed into first 3 trades ignoring price/moving average, hence -11 pts from first 2 trades;

    2. Nothing wrong with 4th trade apart from pt. 3 below:

    3. Last trade should have been closed at MOC, bias/belief interfered with judgement.
  3. Jander


    do you have any kind of profit target in mind? Wondering why you let that one short that showed ~5/6 pt profit go back to a wash?

    i dont trade the dax, what is the tick amount?


    0.50=12.5 Eur

    Like most people new to trading I have no idea when to exit positions, my goal is to try to hold on to a trade. Perhaps I should simply buy the dips for the time being & ignore selling the market.
  5. Are you spreadbetting the DAX?

    You could exit at a FTT or the LTL or +10pts to start with. You need to maintain a neutral bias.

    Good luck.
  6. Hi JSSPMK,

    Don't take another trade with real money until you have a profit target methodology and a initial stop/loss methodology regardless if your using hard stops or mental stops.



    I have no problem with stop levels, absence of estimated profit targets is another matter. I would like to achieve 3 to 1 (reward/risk), whether it is possible or not consistently I couldn't say. So far I manage to pretty much breakeven on an average week.

    I am trading very small size, I consider that better education compared to a simulator. A loss of little money is better than winning big with virtual funds, so I believe anyway.
  8. Eurex DAX, Euronext CAC-40, Euronext FTSE-100, CME EuroFX EC and CME Emini ER2 are volatile trading instruments.

    Volatility trading instruments reacts strongly to european economic events, u.s. economic events and geopolitical events...

    Over-react while other trading instruments with similar like price action have less momentum in comparison.

    Therefore, the DAX requires a volatility based methodology.

    Thus, your profit targets should be based upon volatility analysis and not a fixed risk:reward ratio.


    Fixed risk:reward ratio's assume the price action is the same from one trading day to the next trading day or from one trade to the next trade.

    This is far from the truth especially if your trading the first hour of the DAX opening or trading the DAX during the first hour of the U.S. markets (0930am - 1030am est).

    Read the below thread that contains very useful info about profit targets involving wide range bodies (WRBs)...

    WRBs involving volatility and s/r zones involving volatility.

    Note: Ignore all the Japanese Candlestick info if it doesn't interest you and just concentrate on the WRB profit target info.


    It's a start especially since you don't have a profit target trading plan.



    thanks, I'll give it a look.
  10. JSSPMK


    +16.00 points NQ trades, DAX charts were playing up today

    Closed Y's DAX Long at breakeven, Last NQ sell ticket remains open.

    Personal notes:

    1. 3rd trade Long 1820.00 risk factor was extended, I adjust position as I felt uncomfortable going with using current low at the time & decided to go with major support around 23.6 retracement (I think it was 23.6%);

    2. Overall quite pleased, considering there were trades more of a scalping nature and considering I am paying 2 points spread on NQ at the moment!!! Both losing/winning days will be better when I start trading much smaller spread. I feel that it is a great exercise, it's like jogging with weights attached.
    #10     Feb 20, 2007