FiftyEight Fluffs Around In Futures

[fiftyeight]

Having a flutter this morning

 

[fiftyeight]

Thats it I am out here

 

[tech/a]

Thats it I am out here

View attachment 61929

16 straight losses
You getting stopped or are you just wrong from the get go?

Are you trading with or against the prevailing trend?
Are you trying to pick reversals?

There has to be a reason for such a spectacular run of losses.
What is it?

Do you feel like your guessing?

 

[fiftyeight]

Its 8 straight losing trades as I am buying 2 lots at a time.

I used to (apparently still do) have a bad habit of trying to pick bottoms. Not really sure why but fell back into old habits and kept trying to buy the whole way down any time I seen something resembling strength (clearly I was wrong)

I am cr@p a picking bottoms which is why I have been attempting to buy and sell pull backs within the prevailing trend...... today not so much.

But yeah I think I was just guessing this morning

 

[tech/a]

Its 8 straight losing trades as I am buying 2 lots at a time.

I used to (apparently still do) have a bad habit of trying to pick bottoms. Not really sure why but fell back into old habits and kept trying to buy the whole way down any time I seen something resembling strength (clearly I was wrong)

I am cr@p a picking bottoms which is why I have been attempting to buy and sell pull backs within the prevailing trend...... today not so much.

But yeah I think I was just guessing this morning

OK next time try one thing.
Identifying setups that are telling you the trend is continuing.
If there is no trend apparent look for indications of what's happening within the consolidation.
Are the big boys buying or selling. Where is the EFFORT?

 

[fiftyeight]

Went and chased a white ball around the bush yesterday and late to the comp this morning. Some good help on my thread and private message that I will read through digest later today.

But for now back at it

 

[fiftyeight]

Dug my self a hole again

Some less than ideal entries again but this time also 2 fat finger trades and profit target missed by a point or 2. Will stick at it this morning and see if I can get back to BE

 

[darkhorse70]

Dont beat yourself up. its going to take hundreds if not thousands of runs before you
See any sort of consistancy imo.
.
Just try to look at what you did and didnt do well and try to not do it again next run.

 

[fiftyeight]

No salvaging done just more digging, might change my name from 58 to the "The Shovel"

Cheers DH, not concerned yet. No even close to where I expect consistent results

I am going for a run and will come back this arvo for some revision and go over a few ideas ppl have suggested

 

[CanOz]

A podcast on using a VWAP in your trading...this is an equity trader.

Inbox is full fiftyeight...

 

[fiftyeight]

Just listened

WOW that guy can freakin talk and talk and talk

 

[CanOz]

Just listened

WOW that guy can freakin talk and talk and talk

Yeah, too right he can. I had to push myself a little bit to get through it all. Nothing new, but not often that you can hear the vwap spoken about...

CanOz

 

[fiftyeight]

So I spent most of the last couple of days doing inductions for my return to work next week.

Would of been nice to finish on a high so I spent the next few weeks on site under the illusion that I can make it as a trader but reality may push me to study harder.

Ill muck around this morning downloading a few weeks of data so I if I get a chance (doubtful) I can sim.

Also after doing a little bit of research on VWAP a lot of people seem to use it. I am not convinced yet as it closely approximates a SMA and that did not help me at all last week. But the SMA was on my chart, was I using it? Not really. So I am going to hunt around for some stuff on VWAP to watch and read while am away.

 

[DaveDaGr8]

Hey FiftyEight,

Just out of curiosity, are you just simming or are you playing with real money ? and how long have you been playing the futures game ?

I only ask because i have been looking at diversifying into futures over the last few weeks. I have read almost half of Pav's thread ( what an eye opener that is ) and anything and everything i can find.

Pav seems to have made his mark in 2 years, so i was eager to follow your road as well.

cheers,

 

[fiftyeight]

Real money for US equities

And after getting a bit lucky on the FTSE last year I have taken a step back and only sim. Every now and then I will donate a small amount of money on the MHI.

I probably started looking at futures at the same time as PAV but due to various reasons never really committed to it as much as PAV. I consider that I have only really started fluffing around in futures when I started this thread.

 

[fiftyeight]

Last post was over a month ago.

I have not given up yet, but my plan kind of fell apart.

Scored a gig with an 8:6 roster . Had to complete some additional training while back at home so no screen time or any trading study at all really. I have finished this lot of training so all ready to get back in to it.

Now we get a roster change to 2:1

I think this pretty much rules out what I was trying to do on the HSI, after I have a break and catch up on stuff I will be lucky to get 3 days at the screen every 3 weeks.

Depending on how the roster is set up, I think I will be able to watch the first 90 mins of the FTSE open about half the time. So I might try figure out something around that.

I do want keep fluffing around with futures just need some freakin consistency. If I find time to make something work I will keep my thread alive

Or I will lose my job and have all the time I need to stare at a screen

 

[fiftyeight]

FTSE 100 Index: Initial $4,500.00 Day Trading Margin $1,500.00

So how does margin actually work, I have had enough in IB to do what I wanted but looking at AMP again.

Is that in Pounds or $US

Is it $4,500 per contract or $1,500 per contract?

Should probably know this already but I was only ever trading a small % of capital so I never looked

 

[fiftyeight]

About to finish "Reminiscence Of A Stock Operator".

I really enjoyed it, recommendations of something similar but maybe more recent?

 

[barney]

About to finish "Reminiscence Of A Stock Operator".

I really enjoyed it, recommendations of something similar but maybe more recent?

In my humble opinion, as far as learning in a real world situation, you can't really do much better than read the below two threads in their entirety ........ Simply some of the most poignant and eye opening stuff ASF has to offer

Young Ivant turned a few thousand dollars into almost half a million before being blind sided by his belief in where the market was heading.

Some of the commentary etc on the threads is worth its weight in gold, and every bit as valuable as Reminiscence of a Stock Operator

The Input from some of the "old ASF brigade" ie. MRC and Co. Nun the Wiser, Cartman, SKC and Trembling Hand to name a few is invaluable. I never get tired of mulling over both the threads, and always seem to pick up a bit more valuable info every time I do!

https://www.aussiestockforums.com/f...=14967&highlight=trading+strategy+blows+goats


https://www.aussiestockforums.com/forums/showthread.php?t=15319

 

[banco]

About to finish "Reminiscence Of A Stock Operator".

I really enjoyed it, recommendations of something similar but maybe more recent?

Pitbull by Marty Schwartz is very good.