3 Tricks for Trading the DAX - BDSwiss
I have received many emails with questions about the DAX. I am very thankful about the keen interest and the great stories of own experiences. This shows me that I have been able to really positively influence the lives of so many people. I’m very proud of that. That’s why I will show you a few more tricks of the trade in my article today about how you can trade the DAX in a profitable way.
New York und Frankfurt
The DAX is being traded in Frankfurt, so what does this have to do with the Americans? A lot! The time difference is every trader’s best friend! When you plan to trade the DAX at the beginning of the stock market, take a look at how the stock markets of the world have closed the night before. It has been proven that in the first hour after the opening of the Frankfurt stock exchange, trends of other markets will be continued with high probability. This means that if the S & P 500 has closed strongly in positive territory, the DAX is likely to gain as well! It simply means: take profits!
DAX is King
Germany is not only the most important economy in Europe, it is also a model. Other states are based on the DAX and indices often seem to follow the same trends. This means for you: sometimes take a look at neighboring states. If the DAX rises you can probably retract additional good profits in France and England. And best of all: Thanks to binary options you will benefit even when prices fall!
Thank God it’s Friday!
Traders are only humans too. Everybody knows it; you sit in the office on Friday afternoon and can hardly wait for the weekend. This is not any different for traders. But for you this provides a fantastic opportunity for profits! Statistically speaking, the volume of trade is the lowest on Friday afternoons. This means that trends are clear and the chance to win big is higher. For this reason, you should really be there every Friday afternoon! Concentrate when the others only focus on the weekend. Then you’re a lot closer on your way to becoming a successful trader!