Hi dpanic, Your post is excellent in pointing out the behavioral differences between DAX and ES. The DAX can be a wonderful vehicle but can really get on your nerves. Although I run a very rigorous campaign for getting at "sensible" drawdown figures on my strategies, the DAX shows sequels you never encounter with the ES. happily this is also true on the positive side. Do you have a theory for explaining this difference between ES and DAX? Would volume be the only factor involved? Be good, nononsense