Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
I must confess, tht I am not familiar with your trading rules.
In DAX trading we are having a pre-XETRA time from 8:00 until 9:00 o'clock. The break out starts eihter at 9:00 or later in the time until 10:00. I am using 2 break out boxes for visualization: 8:00 until 9:00 and 9:00 until 10:00.
The start at 9:30 for a trade is in the middle of the first hour after XETRA-opening. I have heard from some strategies different times for trading "the direction of the day" between 9:05 and 10:00.
The question I have is: is the time 9:30 a good compromise between safety and an early entry? What is the main reason for you to decide in the past, to take this time as a FIX time for your strategy?
Thanks for the question - here a short explanation:
a) My trading rules are based on 30m candles (statistics over a long time). All pre or after cash hours are not included.
b) For every weekday there are different entry/exit rules
c) Normally - after my perception - price is turning very often at 10:30
d) my rules have some rules "above" when certain cases are seen like a gap, moving around in Ichimoku Kumo etc.
e) rules are also depending on last trading day
f) there are rules for special cases like price range >150 points or price range was >250 points on previous day
g) rules omit in most cases the time when US market opens
h) Day rules just look for stronger moves - therefore normally Tuesday and Thursday are not traded
i) plus more...
To summarize - the GFIs1 system (which means 1 trade per day) is only taken when a chance of high probability is given.
This year 2018 I will even skip those weeks that were red in the past 6 years. Means I will just be active during the "gaining" weeks.
My job is to optimize trading / other work - leisure and still have an eye on the development of the DAX.
In a new thread I explain some thoughts about mining crypto currencies. Might be a grea alternative to trading as well.
Lets see
I will make a visual check for changing the direction from the DAX at 10:30.
To evaluate the system as a never ending process is a part of our job description - and you reflect your trade very well. Its a great job in quality. To improving the quality of our trading is our most important task, to be long in the forefront, the most important guarantee- so I think.
I am interessted in Krypto-Currencies, but not in mining its. That is not my place. I am waiting for getting validated my Gateway in EUR in Gatehub.net.
would have given some points - lets see theoretical result (which will not count here):
Short 10:30 to 14:30
entry @ 13352
exit @ 13267
result 85 (theoretical as no trade was taken)
IB volume ok
GFIs1
Just to recall - weeks 2 to 7 are not really full of points
Dax was in a sideways range last days.
Volumes very low.
IB Friday 9:00 to 9:30 was with no direction.
German politics still stuck about the build of the Government. As long there is no working German Government the DAX will not see a new ATH. Such thing will not happen in the next few weeks.
