What are the common mistakes to avoid when trading DAX intraday?

3 answers

• Jan 14, 2022 · 3 years ago
  One common mistake to avoid when trading DAX intraday is not having a clear trading plan. It's important to set specific entry and exit points, as well as stop-loss levels, before entering a trade. This will help you stay disciplined and avoid making impulsive decisions based on short-term market fluctuations. Additionally, it's crucial to manage your risk properly by not risking too much capital on a single trade. Diversifying your portfolio and using proper position sizing can help protect your capital in case of unexpected market movements.
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• Jan 14, 2022 · 3 years ago
  Another mistake to avoid is chasing the market. It's easy to get caught up in the excitement and try to enter a trade at the peak of a price movement. However, this can often lead to buying at a high price and selling at a low price, resulting in losses. Instead, it's important to wait for confirmation signals and trade with the trend. This will increase your chances of making profitable trades and reduce the risk of getting caught in a market reversal.
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• Jan 14, 2022 · 3 years ago
  When trading DAX intraday, it's crucial to stay updated with the latest news and market developments. This can help you make informed trading decisions and avoid potential pitfalls. By staying informed about economic indicators, corporate earnings reports, and geopolitical events, you can anticipate market movements and adjust your trading strategy accordingly. Additionally, using technical analysis tools and indicators can provide valuable insights into market trends and help you identify potential entry and exit points.
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