Velocity Trader DAX Journal

Dear mark, me again.
I remeber seeing one of teh posts in this thread where you mentioned levelII but lost it.
I use IB with ninja trader and get some idea of bid/ask pressure a couple of ticks either side.
But how do I get the full benefit of level II , I always thought it was more for stock traders?
Robert

 

are there any indicators are there for dax / eurex trading

equivalent to NYSE TICK , TRIN , # of advancing , declining issues

I know this sometimes helps me when trading US index futures

 

The "Bloomberg" I use is an actual bloomberg terminal with a T-1 to them.

 

Once the market gets into a range where I'm looking to buy I use the depth of market to try to identify shift in momentum(bids stop getting hit, offer is taken with size...), I don't trade solely off of it.

It is something that you have to get a feel for. 90% of the time it is useless watching it. I've been watching it for a long time and I can just see the patterns on it, I'm not sure how to describe them. I'm sorry for the vagueness, I think it is just something you pick up with time.

 

I've looked and the exchanges don't disseminate this data in the form of an indicator with a symbol. However, you can program adv/dec yourself, and come up with something similar to the trin for the 30 DAX stocks. The TICK is much trickier.

 

Do you only trade the first 2 or 3 hours of DAX? Do you also trade the hour before close?

 

Why don't you use MACD?

 

I trade the DAX from 2:00 am central time to 10:30 central time when the German Equity market closes.

The majority of my trading occurs between 2:00-4:00 and 8:30(when the U.S. open) - 10:30 when the Geraman equities close.

 

I'm just not into that stuff, I've never really used it. I learned to watch volume and price action and other markets that have an effect what ever I'm trading.

 

Hello sir I've been reading your journal and am finding it very informative and helpful. Thanks for posting it. I am watching the Dax and hope to be trading it during Eurex hours sometime soon. I have a question for you; Is there a website somewhere that lists European Economic News and when it is announced? Just as Yahoo and CNN do for the US.

The Dax moves so quickly to news i would hate to be in a trade during one of these announcements.


Best Regards and thanks

Reaper