DAX closed up 10.50 pts while ES and NQ weren't all that positive. What do you guys make of that? -Fast
OK...but I'm just wondering why it closed up 10.50 whereas ES and NQ were in the red most of the day (assuming the Eurpoean market is enslaved during US trading hours) -Fast
I haven't followed it closely today, but my guess is that Europe gapped down more (relatively to US) due to the action in Japan, which was corrected during the course of the day.
I watch and trade NQ ES DAX YM...in order of volume.....I love the DAX.....definitely an added income source for me.....some people swear they can only trade 1 index or that you should only trade 1 index...I say what whatever works....I find I tend to get hypnotized just watching 1 thing...or trying to trade one thing......I observe how they move relative to each other and try and get in the groove, during the current session, and keeping track of how have been acting.
Hey spider, i agree completely, i just oppose to the idea that the index you trade is going to make a difference. Forget about that, you need a winning strategy and the mental fortitude to execute it, THEN you will extract profits from DAX, DIXX or whatever.
Dax is approximately twice as volatile as ES . SO it gapped down more and closed up when ES when slightly positive. It should probably gap down tomorrow unless US futures are positive in which case it will likely gap down and quickly fill the gap. Trading DAX requires good stops and entries: it can easily move 20 points in under 5 minutes (equivalent to 6.5 ES points..).. You can also make the best entry possible but if your stops are 2 tight get stopped out on the next bar - which could then close with you in profit if you are not stopped out.. Makes trading both interesting and rewarding.. It's one of those indices where volume spikes clearly signify tops and bottoms or short term direction changes...
Keep it comin', dude, i'm learning all the time, so gap down 40 points, gap fill up 40 points, makes 80 points in first two hours, stop at 3 points, right?