FiftyEight Fluffs Around In Futures

[fiftyeight]

Cheers

2 threads I have skimmed over before but will have another look. I have been re-reading threads lately and I am getting a lot more out them on the second read so they will be next on my list.

I have learnt so much from this site, it is a fantastic forum!!!!!!

Ill add Pitbull to my list as well, looks like something I will be able to read late at night or while travelling

 

[fiftyeight]

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.

Finished those 2 threads again. Ivant was an interesting character indeed. Some good advise in the threads.

Before reading the thread, I was pondering something similar. Starting with a tiny bankroll with IG setting a target and then aggressively trading until I reach it, if I reach it. It is how I have built a few poker bankrolls and sports betting accounts. It is how I got my initial money that I started playing with futures. Trick is to know when to cash out.

But I am yet to find an edge or system or something I want to have a crack with yet.

 

[fiftyeight]

With a sample size of 1 week, trading volume spikes was a success haha. My IG account went from $990 to $2300 so this weeks target is $5800 : To be honest I just got lucky fading a couple of the highs and lows. No idea how I will go on the open as I was only able to watch the markets from about 17.30 to 20.00 wst. Home this week so will hopefully catch a few opens.

Looking for something really specific gave me some structure and reduced my trade frequency which has always been way to high. So for now it is something for me to focus on my week home while fluffing around on replay

 

[fiftyeight]

AHHHHH

I hate CFDs. Someone want to spot me $10k so I can play with reals?

 

[Trembling Hand]

AHHHHH

I hate CFDs. Someone want to spot me $10k so I can play with reals?

Just what you need from $2 a tick to $25 Euro per tick!

 

[avion]

AHHHHH

I hate CFDs. Someone want to spot me $10k so I can play with reals?

AMP futures only need 2.5k margin. I recommend more

 

[fiftyeight]

Just what you need from $2 a tick to $25 Euro per tick!

Hence why I would rather someone else fund my bankroll

 

[fiftyeight]

AMP futures only need 2.5k margin. I recommend more

Haha I need much more than $2.5k if I want to play for more than 1 night

 

[CanOz]

Haha I need much more than $2.5k if I want to play for more than 1 night

You don't have to trade the nut case Dax, trade the FESX. It will teach you to read the depth better, you have more time to make decisions, its 95% correlated to the DAX, margin is only 500 eur.

 

[fiftyeight]

I love that it is a nut case

Just because I love it does not mean I am any good at it, will have a look at the FESX tonight

 

[tech/a]

I love that it is a nut case

Just because I love it does not mean I am any good at it, will have a look at the FESX tonight

DAX is fine
Its just those that trade it!

You know the best thing about it-----

When it clearly shows its intentions it generally runs 50 ticks +
with time to jump on.
You can see depth being munched

 

[fiftyeight]

You can see depth being munched

Are you watching the DOM?

 

[fiftyeight]

Stumbled across this while day dreaming, I wonder if these plates belong to any one on ASF

Do me mates rates, I have

 

[fiftyeight]

I have read over and over that many newbs have issues with letting profits run. I have the opposite and tend to let them come way too far back.

Multiple contracts or CFDs help this issue, but where to place my limit order?

DS has argued on another thread and I have since checked for my self a stop or limit will in it self will not increase profitability but I feel it will help in this situation as it is solving an operator error not so much a system error....if that makes sense.

This coupled with the randomness of the market and I am already in the trade and have paid brokerage, would it be better for me to use a really tight stop at a predefined level rather than a limit. It may come back against me or it may take off but I have paid the brokerage so why not have a look?

 

[CanOz]

I have read over and over that many newbs have issues with letting profits run. I have the opposite and tend to let them come way too far back.

Multiple contracts or CFDs help this issue, but where to place my limit order?

DS has argued on another thread and I have since checked for my self a stop or limit will in it self will not increase profitability but I feel it will help in this situation as it is solving an operator error not so much a system error....if that makes sense.

This coupled with the randomness of the market and I am already in the trade and have paid brokerage, would it be better for me to use a really tight stop at a predefined level rather than a limit. It may come back against me or it may take off but I have paid the brokerage so why not have a look?

I think it depends to a degree what you're trading. Fast markets and you'll be just looking for a fill. Sometimes I'll use limits and sometimes stop orders. That's the great thing about using a DOM, its fast. If i can get in on a limit on some kind of pull back then i might try. I may just use a stop order just inside a level that i'm 90% sure will break...I may just want a fill and not care too much about the entry, it just a matter of getting in because i have a belief that the reward will be worth that extra risk. If the market drops 10 points in a matter of seconds to an area that i consider worth participating and shorts cover quickly before 'bam' sellers once again hit the bids, i just want to get short.

If on the other hand you're trading thicker markets, you'll likely be more concerned about que position and using limits. If you have to chase then you'll pay, which is not good on thick markets like the FESX that may only run 3 or 4 ticks and then turn back on you.

Thats my only view on stops versus limit orders....

 

[fiftyeight]

My DOM skills are crap would probably cost me more trying to squeeze out a few extra points.

I was more thinking, say even for a EOD system using a trailing stop if you as usual, then when it come time to take profit instead of simply selling at market or letting a profit limit being taken out jam a stop in real tight. May get taken out may take off again?

 

[fiftyeight]

I have an unsubstantiated overwhelming desire to be short today..... probably should look for for longs

 

[CanOz]

I have an unsubstantiated overwhelming desire to be short today..... probably should look for for longs

I do too, but then the 6J and the 6E just sold off like crazy....the ES has got a flattop where there looks to have been a held offer...

 

[fiftyeight]

Trigger finger is sooo itchy, still waiting for :vader:

:vader: is a "fader" setup I am trying to work on, pretty much just a huge relative volume spike

 

[CanOz]

Well i wasn't going to trade, but my momentum play showed and i stole 10 points, off to the pub, a good weeks in the books.