paweldobkowski wrote:LeMercenaire wrote:paweldobkowski wrote:
im scared of DAX!
what you like about it?
The fact that it looks completely unpredictable but actually isn't.
Yes, you don't necessarily know when something is going to happen but when it does happen, it tends to react the same way it did the last time that particular thing happened.
There is a huge element of learned behavior and that suits my mindset. I like to study behaviour patterns.
I also kinda' like the fact that I know it can turn and bite my arm off at any given time. It keeps me honest and on my toes.
It's a Monster but it's my Monster.
the unpredictability can be an edge
amazing point of view
dax is a prop nightmare
i have a huge respect for dax traders
i know it takes dedication
i knew one dax trader
we used to laugh at him for picking dax
and then something clicked for him
and he absolutely BLEW past us
he was saying that you need to watch PA in zones
rather than single levels
you got a similar experience?
Ha, I've never thought of it like that but yes, your friend was onto something there. The DAX will move at the Open and then settle in an area. In the case of FX, that usually means a narrow range at a level and it's difficult to do much until the next move. However, The DAX will sit in, as you say, a zone and it is actually a great place to get to work, as price will follow those repeatable patterns around that zone and it is usually pretty easy to see when the second big move of the day will come. You will notice how often I use fibs inside these zones, that's no random choice.
Lol, I knew something I didn't know I knew!