DAX: I’m still struggling

The DAX index had a trend from the open but it reversed the bullish opening bullish gap.
Bar1: long entry on a bullish pin testing the gap support and the uptrend from the previous day’s late rally Bar2: stopped the scalping part of the long, 5.70 pts loss
Bar3: trailing stop hit for the swing part, 7.50 pts loss
The market reversed its bullish opening into a clear donwtrend.
Bar4: short ‘with trend’ entry on strong bearish bar breaking a small bear flag correction Bar5: trapped out with 8.50 pts loss
Bar6: re-entered the short which was another fake
Bar7: stopped with 14.00 pts loss
Bar8: long entry on break above the high of the midday correction
Bar9: stopped out after the US jobless data, it was the second leg of an A-B-C, loss 5.30 pts
After this long string of losses give myself a break until next Tuesday to recover. I suffered 20 losses against 4 winners while the gain/loss ratio has dropped to 4.78/9.59 after I decided to double my entry size and scale out from my positions.


DAX: second losing day in a row

DAX opened with another bearish gap, pressing the channel support of the 1h regression channel

Bar1: entered long for a continuation trade on a bullish trend bar following a 3-bar consolidation.
Bar2: full position stopped at trailing stop with 7.50 pts loss and I reversed the position on the same bar selling short. Trapped out and trapped in. Big mistake. It was a failed break of the micro trendline. Bar3: short stopped with 10.60 pts loss.
Bar4: short entry at trendline resistance.
Bar5: stopped with 12.50 pts loss.

Doesn’t look good so far. Both my short entries were micro trendline failed breakouts. Bar6: short entry on lower high

Bar7: stop with 11.70pts loss
Bar8: H2 short entry
Bar9: stopped out 11.20 pts loss

Dreadful day. I was clearly on the wrong side of the market. Average loss was 10.59 pts without a single winning trade.


DAX: biggest daily loss so far

DAX started the day higher in a corrective manner…

Bar1: long entry on an inside bar breakout
Bar2: sell half of the long position, loss 8.20 pts
Bar3: exit swing part of the trade when trailing stop hit, loss 15.00 pts
Bar4: long entry on breakout after pullback, closed half on the same bar with 10.00 pts profit
Bar5: traling stop hit for remaining long, 4.30 pts loss
Bar6: missed long signal where I should have faded the EMA on a 2HM (2 hours away from the EMA trade)

At this point I had to realize that my entries were late and the trades we slipping away after the setups.

Bar7: long entry on a break above a bullish reversal bar
Bar8: closed half of the long after bearish pin bar with 4.30 pts profit Bar9: trailing stop hit for the second half of the long loss 3.00 pts loss Bar10: missed bullish setup
Bar11: short entry on reversal below the channel line
Bar12: took profit on first half with 4.00 pts profit
Bar13: stop loss hit 0.80 pts profit
Bar14: short sestup with pullback after a long bearish reversal bar
Bar15: long entry after break above doji at the trendline support
Bar16: full position stopped out on the same bar with total loss of 12.50 pts

A tricky day with 36.40 pts total loss and 4:6 win/lose ratio. I have to make note of the three good setups (Bar6, 10 and 14) that I didn’t trade.


Position management

I still have the tendency to close my winning position too early therefore I start trading two lots. I will exit one lot with my discretion and I will set a trailing stop for the other half of the position. With this method I try to stay with the winning trades that has a good run and hopefully can achieve bigger gains.


DAX: range day with small gain

DAX had a bearish gap at the open after the Asian markets started the week with heavy losses. The 1h trend is clearly bearish while the German index trades at the liner regression channel support.

Bar1: long entry just above the S2 level on a long legged doji rejecting the low of the bearish trend bar
Bar2: trailing stop was hit with 5.80 pts profit
Bar3: I did’t enter long on the break above a micro trendline after the second bullish pin bar as I was looking for a second entry (break above a lower high) which didn’t happen and saved me from a losing trade.
After this point the index were ranging with a Barb Wire pattern from 11:30 to 14:00. Later there were two tradeable trendline breakouts at Bar4 and Bar7 and two failed dowside breakouts at Bar5 and Bar6. I decided not to trades any of these setups since there was no sign of conviction on neither side of the market.
Bar8: breakout pullback long entry
Bar9: trailing stop was hit with 2.50 pts loss
The DAX ended the day in a tight range with repeated failed breakouts on both ends. To sum it up we had a range day which I always find hard to trade however today I managed to escape with a tiny 3.30 pts gain.


DAX: Friday’s rundown

I will change my daily rundowns to a more ‘to-the-point’ style so it will be less time consuming to write (and read).

Bar1: short entry at the R1 level just below the previous session’s high Bar2: profit taking 22.50 pts
Bar3: short entry on a bearish engulfing line at the EMA20
Bar4: profit taking 12.30 pts at the bullish trendline and daily pivot level Bar5: missed inside bar entry after a break below the pivot level Bar6: long entry on a bullish 1-2-3 reversal
Bar7: stop-loss -15.00 pts
Bar8: long entry on a bullish pin which turned out to be a breakdown of a small correction
Bar9: stop-loss: -15.00 pts

I stopped trading for the day after the second loss. Closed the day with 4.80 pts profit. I still close my winners too early. I was quite satisfied with the first too trades but missed most of the day’s potential. All in all not a bad day for a Friday.


DAX trading: 19.8 pts gain with 3:1

Another solid day in my DAX trading but I still leave too much profit on the table. The index has extended its upmove from yesterday’s low with a bullish gap at the open then pulled back well into the gap testing the late swing high of the previous session. I entered long at Bar1 and closed the trade at Bar2 for 8.0 pts profit at the primary resistance R1.
I missed a perfect setup for the second part of the upleg. Bar3 was as bullish inside bar setup for a breakout-pullback entry after a consolidation of about ten bars.
My second entry was for a short trade when the index reached the regression channel resistance on the 1h chart. I entered short at Bar4 and scratched the trade with a 3.30 pts gain at the EMA20 at Bar5. It looked liket the market will show a Barb Wire (tight trading range near the EMA with small body bars that overlap) ahead of the US macro data so it was reasonable to exit. There was a bullish gap after the US jobless data but the upmove failed at the session high and I entered short again at Bar6 on a trendline break but covered the short at Bar7 as there was no follow through selling. I lost 5.50 pts on this trade.
The upmove failed at the same level again with a bearish gap followed by a wide ranging bar with a long lower shadow. I was looking for a second entry but the price action was not decisive so I skipped the break lower. I saw the S&P500 index coming lower so I entered short on an inside bar breakout at Bar8 and booked a profit of 14.0 pts at the opening level which proved to be an early exit again.
Nonetheless I closed the day with a 19.80 pts profit which is all right with me.