FDXS1! trade ideas
dax must go downAC in 4hour is full and ready to turn red,seller pressure coming
gap on 13900 and daily Ema200 in 12900 important targets
these are powerful place you can put order but with sl=40 tp=120
in my idea down trend(correction) still is alive ,if you see daily chart dax can see 12800-12700 trend line ,so be carefull from buy,100% put sl
4hour chart AC show dax little can go down,they upin upside we have 2 open gap on cash xetra dax
in downside we have daily Ema200 and gap
you can put limit order on gap with sl=40 trail stop 40 and buylimit above daily ema200(for hold until min 14400)
monitor AC(or stoch) 30-240min and ema200 15-60-1440min and draw every morning fibo extention in 30min last N shape zigzag ,specialy 100% level
13470 was our target, now 13900 then 14400 is target on friday AC in 4hour chart ,turn red,so many traders start sell , next week dax can go up sharply
fibo extention show 13900 is buyer target , in monday morning we will buy dax(buy gold) but if bad news comes we will buy dax near orange line(ema200 daily) and hold it 2-3 week until 14400-14600
cash xetra dax gap on 13888 is open , our buy targetwith bad corona , germany gdp comes good ,so we looking for buy when AC30min is full red (or stochastic 5-3-3 is under 20)
on fill gap we will sell limit with sl on high or 40
80% note = dax can explode up to 14400,be carefull from sel,put sl on 15min high
20% note2= if ema200 daily 12900 break in down,mean new - trend start
I LOST 70% OF MY CAPITAL WITH THE SAME MISTAKE => OVERTRADINGHello Traders,
today I want show you a point of my live, that I constantly overlooked. I want sensitize you for it and also make me so a reminder for the future!
1. OVERTRADING
It's the truth: In the past I lost 70% of my capital with overtrading. If you find yourself there then I would be sensitize you to rethink your approach of trading.
On the chart above you can see how I take at the beginning all rules what I learned before:
Only 1% of my capital I choose for risk with using StoppLoss
Support and Resistance are STOPPLOSS and TAKEPROFIT, depence on trading direction
I choose a Takeprofit more then 2 times of my risk
=> I lost the most time with this rules
But the rules are not the problem!
The problem was my overtrading. I see only "ONE" signal to take action => then it overcomes to reaction buy, no no, sell... dame, better buy and so on => always if I was in loss I tried to rethink my trade 24/7 hours in front of the screen.
2. SUPPORT AND RESISTANCE: THE WORST ENTRY POINTS EVER, BUT GOOD STOPLOSS AND TAKEPROFIT AREAS
Another thing is, that support and resistance areas are good reverse moments. Every greedy trader like I used to be, try to catch the early trade to make more money than anyone can imagine. Then back to reality: you get stopped. The market takes your money and you don't realize why!
On this moment, you have your own opinion of the market and this your mistake to believe you are right. You hadn't wait enough!
3. BE PATIENCE - TRADE LATE AND RIGHT THEN EARLY AND WRONG (MULTIPLE)
The headline above in point 3. is since my realizing the importast rule. Trade late and right!
Because the other thing of trading you can: the right risk, the winning opportunity.
Sometimes it helps to look in deeper timeframes, to get enough win-risk-ratio.
Hopefully it helps you!
Kind regards
NXT2017
witch show fdax better target? fibo or extention draw on your chart this fibo and trend base fibo extention(ninjatrader=fibo projection) and see witch will give you low better
on dax ,dow i prefer TREND BASE EXTENTION for find high,low
fibo raytrace show dax low=13380 or 13340
fibo extention show low=13200 or 12850
witch is true low?
my pre vote=extention will win (in metrader you must load it by right ckick on drawing menu)
in zigzag market like dax extention win, in trendy markets like gold fibo raytrace win always
NOTE=NEVER USE THIS FOR PUT BUYLIMIT,THESE TOOLS ONLY FOR FIND TARGET,TP ,,, FOR REVERSE POSATION YOU NEED 2ND SIGNAL LIKE TREND LINE OR POWERFUL SUPPORT NEAR THESE LEVELS
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