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130: Day Trading the DAX Profitably – Insider Insights From A Professional Trader w/ Daniel Cheung

Hello traders, we have Daniel Cheung back on the show giving us some very helpful tips and insights about trading the DAX.

To give you just a bit of his background, Daniel had his master’s degree and was working full time in finance and trading four years ago. He’s currently trading the Forex, DAX, and Commodity markets. Listen to Daniel’s first interview to hear how he’s grown as a trader.

In this interview, Daniel helps us understand everything about the DAX, one of his favorite markets, and why it’s such a lucrative market (if you know what you’re doing). He also shares the exact strategy he’s uses that helps him profit day in day out.

Free Room

In the show you’ll discover:

  • Why you should start trading the DAX
  • One of the most important things you should be doing in order to succeed in trading
  • One sign you need to pay attention to
  • The right thing to do when you an Forex pair or Index consolidates
  • smarter way to make more money trading
  • What’s an “AOA” and how will it help you understand charts
  • The reasons why Daniel no longer uses Fibonacci in his strategy
  • How you can create your own working trading strategy
  • The importance of Risk-to-Reward
  • The biggest mistake most of the traders are doing which you can avoid falling into
  • Daniel’s informative Cryptocurrency insights

    Key Lessons

    • Screen time is important
    • Practice makes perfect
    • Trading needs talent, however, if you put your time and effort in, you are going to make it
    • DAX has higher ATR
    • In trading nothing works 100% of the time
    • When a pair or an index trends, that’s the sign that you’re going to make money
    • When you see a pair or an index consolidate, just sit and wait for the right opportunity
    • Forex is a very highly volatile market
    • Upward trend means making higher highs and higher lows
    • DAX is now a trending market
    • Fibonacci is a good tool when you are just starting to trade
    • When you start hearing figures, you start becoming motivated
    • You really need to understand the basics of finance and the fundamentals of the markets
    • Don’t overtrade and remember to stick to your trading rules



30: From Broker to Forex Trader, Daniel Cheung Reveals the Truth Behind Currency Trading

Daniel Cheung is a fitness fanatic who fell into trading in 2010 after watching his friend profit from stocks after just 3 years in the markets. Daniel moved on from trading stocks, due to the high fees, and began working at a brokerage firm where he saw guys making $24k in a day trading Forex. These days you can find Daniel running his own free trading room.

In the show Daniel reveals:

  • The strange way bank traders approach the market
  • How to make sure you don’t get stung by a dodgy broker
  • A special type of chart that makes it easier to read trends
  • How his favorite Doji entry signal works