Is anyone here CFD trading the DAX 30? It's good entertauinment at €25 per 1.0.
I drink a lot of coffee, Bahman!
Seriously, I don't skip but I watch this index like little girls might watch a rope go round. I don't wait for either extreme of the swing because I want to get into the game, of course I also want to get out again without grazing my knee.
If you have a decent wedge to tide you over a mishap, you needn't lose. I know that many here say you must set and take a loss but that's not usually what I do. I recognise an unambitous range and trade that. If it goes against me, I am confident that it will come back and I have enough margin with the broker for a bad (or even worst) set of circumstances.
For example, I am about 55% sure that the DAX won't go below 4400 today. I am 85% sure that it won't go below 4000 this week and I am 99% sure that it won't go below 3500 this month. These are my 'moving averages', if you like. I am going long because there is better potential, IMO for upside. I set an entry point which is pretty low but not the lowest that I expect for the day because I want to play. I set a sell limit at least 40 points up from entry but may make that level the stop if I'm watching when it triggers and the DAX looks like overshooting. Midterm, I think that 4850 is very achievable. If one is patient, that is €8750. Who's with me?!
It's been suggested by some that the DAX is a lot easier to trade, less volatile than the US/UK and is more agreeable with charting. May get back into the indices here after the rollercoaster that is known as the US markets!
I traded the DAX a little bit this evening, only $2 a tick though.
Its range is better than the FTSE, eg tonight it was +110 while the FTSE100 was only +60. As Monaco says, the range is your friend. I'm pretty new to spread betting but play on inordinate movements. If the DAX or FTSE are up/down by more than 3% then I'm pretty sure there'll be a correction. With a generous buffer (as much as my account allows, perhaps 400 points) I'm sure that I can make a gain of 20-30 points, if not immediately within a couple of days. If the index falls further in the wrong direction I forget about the first trade and work the new ranges.
From what I've seen the FTSE is safe(ish) within 3850-4050. If it strays to within 40 points of each extreme I take the opposite. The highs have been tested, but the lows could be tested next, hence staying well within the limits and taking small quick profits of 20-30 points. Tonight I was successful 5 times out of 5 and made $16 average each trade. Small fry but I'm still only learning. If I did it all day I could make $400 a day, which is a decent income, just need to hone the skill.
Currently $48 down on a $2 per point long on the DOW. It fell 110 points today, overcooked in my opinion. My buffer allows it to fall to 7497, which I hope it wont, I've set my limit to take profit at 7944.
As for the DAX, what's your opinions of a safe range at the moment? Sell at 4590, buy at 4420?
DOW's opened again, now improved to $22 down.
Should've made myself clearer above. What I mean is that if I open a spread and it falls further then I forget about it and open another. I leave the first one open until it recovers, and trade on the new ranges with the old one in the background, if that makes any sense!
Cheers bahman, still lacking the confidence to trade on anything other than wild swings away from what I would call the 'safe zone'!
Oil's proving to be a decent trade from $50 to $53 though
DAX up to 4900 briefly, triggered a short at 4840. Fingers crossed it'll touch 4700 soon again! Yikes
I really think that the DAX and FTSE are getting overdone at 5465 and 4930 respectively. That is a whopping 1.75% and 1.5% rise on a day when Wall St is on holiday. It points me to a sell.
DAX is rocking out at 5850. This is the level it was at in Sept 2006. Hell of a recovery from 3666 in March this year. Almost 60% plus currency appreciation.
"once the quarter-end jam job is passed, the vacuum under the market could become apparent", I love it! How did you find this guy?
"Of course the bulls could give you a plethora of wrong-headed arguments...as crazy as the gibberish you hear on CNBC day in and day out as they continually promote the gaming of stocks higher at the behest of their corporate sponsors. Here, the better arguments would point to the inventories that need replacing, and the ‘new normal’ when it comes to perceiving largely worsening news. Less bad, history doesn’t matter this time around – you name it, these bozos are never lacking for words – only conscience and common sense."
Monaco - totally agree, great article for the bears out there! and made me chuckle. kinda gives confidence to our way of thinking.
fantastic website for analysis on just about everything!
I said it yesterday, i do believe we are about to turn the corner, and the falls yesterday were a precurser to that.
Feels like this is it, the peak. Many people with only a casual interest in the market will have heard or read this morning that all the indices are at their highest levels in over 12 months. DJIA does not look confident of staying above 10000. It's too early to be sure with Wall St calling the shots and GS results to be digested but 5850 on DAX and 5250 on FTSE are such massive achievements, where do people expect it to go from there? There's only one way to go, and that is down.
Are you the king of the swingers or are you just going ape in Morocco?
Miss you guys , best wishes
cheers Mark - I'm still swinging some 2hrs on! searched youtube for all the classics from junglebook - great:-)
(just realised about the swinging connotation)
DAX is nearing 5630, going as low as it has been for 3 weeks.
i think this has potential to get to 5560. i'm gonna short here
I would say that this is certainly dragging its heels after yesterdays sharp sell off compared to some of the other indices and does drop off pro rata more so on the DOW future's slightest downwards movements. Consumer confidence state side dropped more than expected and the DAX fell big time so it to lacking more than a little confidence I feel.