Hi Christoffer, If you know what you are doing, you will love this contract. First 2-3 hours (after cash opens 9am-12pm) are usually pretty good. Just ignore that first pre cash hour. Others may comment of crossing hours with US session. Just a word of caution, DAX can be very rough, I assume you profitably traded it with good simulator for some time. If not, do not go live and try the sim trades. Mental trades do not count, you actually need to push the button. Regards, redduke
Hi RedDuke Thanks a lot for your advice, much appreciated! I haven't Sim traded it - just studied charts of it. I might Sim it for a couple of weeks then. Do you trade from Europe as well? How long have you been trading it? Regards, Christoffer
Definitely spend some time on simulator, there is no guarantee of course that after it you will be profitable, but if you will be in a red on sim, then you definitely be in red live. Once sim is successfully behind, the live trading as I am sure you know will present its psychological twists. One of the best sim software is NinjaTrader, and it is free for charting and sim trading. It even gives you slippage on sim when it thinks it is warranted. You only need to pay for it if you want to trade live. I have been trading DAX since 2006, but took more then 1/2 of 2007 to trade Hang Seng (time zone is better for me, I live in New York). While I made some dollars there, they were in no comparisons to DAX, so I switched back to DAX during fall of 2007. Regards, redduke
Hi christoffer I am very new ( only one year trading the dax ), and try to learn new methods all the time. Yes i calculate it myself, it is just another tool like all the others, i always try to combine it with the cash index ( for a strong triggers ). There is alot about MP in the net, here is a link to cbot: http://cbot.com/cbot/pub/page/0,3181,1184,00.html Whish you good luck. SHAKED
I agree with what RD's said, unless you've put in many many hours of screen time trying to better your understanding of price action, then get ready for the pain, on the other hand I do not consider that as a negative, I look at it now as tuition fees (when I totally devastated my trading capital). There is a BIG difference between paper trading and real personal funds being at stake. To be able to pull through and come out on top a trader needs to develop a working method that suits him taking into consideration quite a few variables and learn how to trust that method as there will be losses sometimes even consecutive losing days. My experiences up to now have progressed through 3 stages, 1st being - oh it's pretty simple (say bye to your money), 2nd - bloody hell I am confused here by sheer amount of information & 3rd - back to point 1, but this time it's a different 'simple', when you get to the stage of pattern recognition without having to think too hard about it, it becomes simpler and pieces start to click together a lot quicker. So, which stage are you at? DAX can be very rewarding, but can also make holes in your pockets a lot quicker than any Miss gold digger. All the best!