DH7 Trades the Bond Futures

[darkhorse70]

Thanks CB.

 

[CanOz]

The other thing to keep in mind there to DH is that many of the Australian prop shops are based on a model that was dependent on rebates... Changes are afoot, there may not be many of those left and what is left spreading will likely be all ADL generated...

 

[darkhorse70]

The other thing to keep in mind there to DH is that many of the Australian prop shops are based on a model that was dependent on rebates... Changes are afoot, there may not be many of those left and what is left spreading will likely be all ADL generated...

ADL?

That would be a great thing. Wonder what would replace it.

Its unfortunate that every where you turn their are con men and you have to be skeptical about each and every firm.

 

[darkhorse70]

By the way made a trade before for and made $60.

Currently shorting the t note. 1 lot just because not sure if the equities are just going to muck around. Also went short so I can average in if the t notes go bid for a while. Oil looks like its having a small rally so we might have some probability of a successful trade.

 

[darkhorse70]

Short 1 x @ 14.0

Bought back 1 x @ 12.5

Profit = $45

 

[darkhorse70]

Currently up 140$. Going to use that as a buffer to trade the NFP.

I think that the equities and oil will probably flush shorts and go upwards. I also think notes will go down.

Will just have to see how the DOM reacts when the figures hit and what type of price structure were at.

 

[darkhorse70]

I got smashed in last nights figure releases.

Figures hit the market, notes went offered, equities went slightly offered and oil was slightly bid.

For a second I concluded markets in the notes would go bid however the sell off was huge. Went bid, got slapped around, whip-lashed for a few seconds, took a big loss, went short, then flipped again.

Equities did sell off eventually as well as CL and notes eventually made a recovery.

Great experience but if that was live, it would have been brutal.

Lesson learnt - correlation can be off at times and dont even jump in too quick during NFP unless you want to cry yourself to sleep. I'll view this as a free lesson with a slightly battered ego but a necessary one.

 

[Trendnomics]

I got smashed in last nights figure releases.

Figures hit the market, notes went offered, equities went slightly offered and oil was slightly bid.

For a second I concluded markets in the notes would go bid however the sell off was huge. Went bid, got slapped around, whip-lashed for a few seconds, took a big loss, went short, then flipped again.

Equities did sell off eventually as well as CL and notes eventually made a recovery.

Great experience but if that was live, it would have been brutal.

Lesson learnt - correlation can be off at times and dont even jump in too quick during NFP unless you want to cry yourself to sleep. I'll view this as a free lesson with a slightly battered ego but a necessary one.

In the long term, the randomness of the markets will shrink all ego's.

 

[darkhorse70]

haha couldnt agree more trend.

 

[darkhorse70]

After taking another huge loss last night I need to re structure my trading strategy. I need to focus on how to minimize big damage. I went to sleep with a position on. I really thought the notes would come in offered and oil and equities would go back bid.

It didnt. Regardless, I think im going to trade more aggressively and bigger on my trades and keep a tighter stop on the trades.

Unfortunately im going to discontinue this diary indefinitely. It probably adds an extra element of stress due to the fact that I feel like a disappointment at times.

Im going to start working as an Uber driver for some pocket money so I can start trading live in August. That is if I can refine my trading style enough not to sustain major damages.

 

[captain black]

Unfortunately im going to discontinue this diary indefinitely. It probably adds an extra element of stress due to the fact that I feel like a disappointment at times.

Im going to start working as an Uber driver for some pocket money so I can start trading live in August. That is if I can refine my trading style enough not to sustain major damages.

Good luck DH, thanks for starting the thread and posting your trades. I've occasionally thought of doing something similar and posting live trades etc. but it's tough to stay focussed and post trades at the same time, I take my hat off to anyone that does it.

 

[darkhorse70]

Good luck DH, thanks for starting the thread and posting your trades. I've occasionally thought of doing something similar and posting live trades etc. but it's tough to stay focussed and post trades at the same time, I take my hat off to anyone that does it.

Thanks CB.

I guess if you have a solid strategy that you find is consistent and you believe you can provide enough value without your idea being "stolen" then it's great. However when your still in the learning phase and you have to change ideas and hop from idea to idea or drastically change it, then your diary goes all over the place.

When you make a bad trade, you have to explain to yourself why that happened and you can justify it and take the lesson from it and become better. But you hate having to re live that by justifying it to people like your parents or partner etc or the entire trading community lol.

Rest assured, once I think ive fixed my faults, ill add more value back here. Till then I bid you fair well CB.

 

[CanOz]

Yeah, good luck DH, i hope the Uber thing goes well...you'll meet some cool people i'm sure.

Hopefully you'll come back to the land of equity index 'outrights' when you return to trading

 

[darkhorse70]

Hey Can, thanks mate. funny you should mention that. I just started trading equities and Im planning on trading oil as well as well as bonds. Since bonds take a while to transpire into a good opportunity, it will mean that my time spent behind the computer will yield more results/hopefully profits and minimize chasing bad trades on the bonds.

I should pull up the FDAX as well

If I can get one or two jobs a day on uber that will get me by and save enough.

 

[OmegaTrader]

Got the felling this will be the theme now. Everyone is chasing the same game of ASX rebates while churning trainees through a program designed to have them flat before costs......



I reckon every few years you have to reinvent yourself as a intraday trader. Markets never stay the same for long.



I understand why prop push you towards small tick per day instruments but I am always perplexed why an independent trader will choose that route. I've always looked at the big movers because I often have my first 3-5 trades go bad while I'm feeling out the market. On the DAX or HSI thats 15 minutes of Monday morning, 30 min into the week and I'm back positive and making money. On the Bonds 5 bad trades and that is the week gone!!!!

Ok, so I didn't end up making the pass through to Propex. Bummer I know but whatever. Frankly I don't have the same faith in the system as I once did. What I mean by that is that I believe willing your going to put in the time and always have the mindset of trying to improve, there's no reason why you can't become a great trader on your own.

Whether this is true or not, I need to believe so if I'm going to succeed at this.

Anyway after trying to trade the way I was taught at Alioms for 6 weeks, I concluded it was impossible due to the commission fees. Trying to scalp when you've got the chance to scratch out of several trades before you score one tick will eat your profits away taking you closer to a negative expectancy.

Anyway while trading under Propex's guidance during the recruitment phase we were trying to spread trade US and Aussie bonds. Every one knows there is a correlation between them and there are several correlations between the equities, bonds etc.

Anyway as the weeks passed I realized my performance was constantly improving.

So I thought i'd give this a shot on the sim before hopefully taking it live in the next few months.

Basically I use the e mini and the t notes plus aussie bonds as confluence for setups. Using a combination of market flow and the short term structure of the market, I scalp small setups and some times hold for a few points.

I prefer a smooth equity curve so taking small consistent profits just works well for me.

Hi Darkhorse,

I was wondering if given your experience at propex and aliom whether you thought it was still a good punt from a newbies point of view in terms of learning and experience.

Also what materials/resources/ could be done to prepare for applying and when being a trainee-What strategies are used for testing trainees?

Finally now that these options have not worked out, what have the results of the other avenues been?

Regards OmegaTrader