tombtrader
01-21-2006, 06:02 AM
I struggling with my transition into MTP from a profitable although too active day trading method. I am concentrating on DAX future and Euro FX Future in the European time zone. So far, I have decided to put up 4 different short time frame charts for each of the 2 symbols so I can catch the signals.
Are other futures traders doing this or am I on the wrong track?
However, what I discovered in the DAX is that nearly ALL good moves hit at least the second WPT. That's very cool and a useful observation. However, ther are many moves such as the one on that attached chart where the bar is labeled as a TS1, TS3 etc but the bar is not colored, but the subsequent move is GREAT!!!!
Do I take these trades anyway? The risk/reward on DAX is exceptional so I am taking them as I believe I can recoup losses easily from the winners.
I'd greatly appreciate critique from all. Maybe it will help others also.
TIA
TombTrader
Are other futures traders doing this or am I on the wrong track?
However, what I discovered in the DAX is that nearly ALL good moves hit at least the second WPT. That's very cool and a useful observation. However, ther are many moves such as the one on that attached chart where the bar is labeled as a TS1, TS3 etc but the bar is not colored, but the subsequent move is GREAT!!!!
Do I take these trades anyway? The risk/reward on DAX is exceptional so I am taking them as I believe I can recoup losses easily from the winners.
I'd greatly appreciate critique from all. Maybe it will help others also.
TIA
TombTrader