Here’s A Powerful Addition To Your Trading Arsenal
It’s a Friday
away from the markets for the first time in a while,
and thus a good time to re-energize on an absolutely
beautiful day in the Northeast with the temperature hovering above 60 degrees,
the Red Sox opening their home schedule
(Quick note to Red Sox nation:
Ready, set …. Panic!), and my new trading
office finally nearing completion after five months of construction due
to a horrendous winter of coastal weather.
Anyway, both major markets spend much of the shortened week in ping-pong mode as
the S&P and Nasdaq each gave back a handful of points from last Friday’s close.Â
Intraday ranges and opportunities were, for the most part, sufficient to carve
out weekly profits, although if you managed to stay out of trouble through a few
terror and earnings related land-mines in the thin pre-holiday trade, the week
was a good example of how important playing defense can be over the long term.
Let’s hit the charts and then talk a bit about the DAX, a topic that we’ll be
discussing during next
Tuesday’s conference call.
S&P 500
Nasdaq
Moving Avg
Legend: 15MA
Larger Timeframe 15MA
See https://www.donmillertrading.com
for Setups and Methodologies
Charts © 2003 Tradestation
DAX
Why are many E-Mini traders expanding their trading or market monitoring to the
European markets? As I touched on
last week, expanded trading times and vehicles, along with a helpful
heads-up to US market action are among many benefits traders have discovered.
The German DAX, in particular, can be a powerful addition to one’s trading
arsenal, especially when seeking a low-risk reversal entry or trigger which
often only occurs overnight, or simply seeking an alternative market when the
S&Ps are in their occasional trading range doldrums. In fact this past week, I
was made aware of one trader who moved to Europe simply because he preferred the
trading action of the DAX, and I’ve personally added it as a serious complement
to my US trading.
Yet one doesn’t need to relocate, learn a new language, or rise at 3:00 A.M. ET
for European markets to help your U.S. trading, and we’ll explore these and
other aspects of the DAX in more detail during a live broadcast to which you’re
invited next Tuesday.
Good Trading, Have a Great
Weekend, and an Even Greater Easter!
P.S. My next seminar is just around the corner.
You can spend a full week in the
E-Mini Virtual Trading Pit tracking and trading
e-minis with me. This event is live only. NO ARCHIVE WILL BE AVAILABLE! Last
year’s event sold out immediately, so don’t delay.
Click here to reserve your space.
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