FTSE Futures Trading - Analysis and Discussion

[pavilion103]

Interesting. FTSE gapped up about 20 points. I closed my shorts at around 6820. So I realized some more profit and can look for a reentry if I see fit. Too much uncertainty pre-open. Now I'm out and can reassess tonight!

 

[pavilion103]

Trading largely based on context.

3 point risk. Entry @ 6830

Only the 1 contract.

 

[pavilion103]

Out BE

 

[pavilion103]

Looking at shorting a bearish channel now IF it holds and isn't too prolonged.

60,64, unless this pushes up in which case 68 at the high is an obvious stop.

 

[pavilion103]

61.5 the entry. Multiple contracts.

1) Managing this
2) Finishing off a presentation for church tomorrow night
3) Cats v Swans (Go Cats - not confident though).

Busy!

 

[pavilion103]

Fail on both accounts.

Trading and Footy

 

[Newt]

Tricky night tonight. I fell for the short around 6853 15mins after open. If I'd waited for a 2nd confirming reversal bar I probably would have made 5 or 6 points shorting down from 6861. Nothing else worth trying.

I rarely get a chance to watch the open unfold in real time. Still learning to sit on my hands :frown:

 

[CanOz]

Fail on both accounts.

Trading and Footy

Way to go swans! Chalk up another one.

 

[CanOz]

Tricky night tonight. I fell for the short around 6853 15mins after open. If I'd waited for a 2nd confirming reversal bar I probably would have made 5 or 6 points shorting down from 6861. Nothing else worth trying.

I rarely get a chance to watch the open unfold in real time. Still learning to sit on my hands :frown:

I can't even look at a chart, but guessing you're all in a balance area swinging for the fences when you should be range trading....I swear I can load no charts!

 

[kid hustlr]

Huge volume spike late in the day which got immediately bought back up.

Not sure if its random rollover volume or (more likely) end of month balancing stuff but regardless looks pretty bullish to me that close.

 

[pavilion103]

Huge volume spike late in the day which got immediately bought back up. Not sure if its random rollover volume or (more likely) end of month balancing stuff but regardless looks pretty bullish to me that close.

I'm not too sure.
I wouldn't read into an individual bar in terms of close but the huge volume has caught my attention.

They way that I look at it is that there is some huge volume. Now we will see how price responds around this area.

 

[skyQuake]

MSCI Index Rebalance. Its like a S&P rebal only a bit less volume

 

[kid hustlr]

MSCI Index Rebalance. Its like a S&P rebal only a bit less volume

ta mate, does that happen monthly quarterly?

 

[skyQuake]

ta mate, does that happen monthly quarterly?

May/Nov for high Vol, Aug/Feb for lowish vol

 

[pavilion103]

Hey guys.

There hasn't been too much excitement over the past week or so. Quite boring.

I will probably be less active on here for the time being, as time is an issue at present.

I'm focusing on taking fewer trades.

The way I see it is that 1 good trades a week can be an average income.

1 trades x 30 points (x2contracts) = $1,030 per week.

Putting things into this perspective it makes me realise that attempting too many trades is counterproductive.

1 good trade = $1,030
2 good trades = $2,060
3 good trades = $3,090


Cutting back trades may be challenging psychologically at first but I want to have this mindset.

 

[Lone Wolf]

I'm focusing on taking fewer trades.

The way I see it is that 1 good trades a week can be an average income.

1 trades x 30 points (x2contracts) = $1,030 per week.

Putting things into this perspective it makes me realise that attempting too many trades is counterproductive.

1 good trade = $1,030
2 good trades = $2,060
3 good trades = $3,090


Cutting back trades may be challenging psychologically at first but I want to have this mindset.

I assume by taking less trades you mean that you have ideal setups in your playbook and some other B grade setups. You intend to only take the A+ setups?

Or do you actually mean to limit the number of trades taken regardless of how good the setup is?

It has been said that if you have an edge, then the more opportunities you can find to make that edge work for you the better off you will be.

It has been a bit slow on the FTSE recently. I've just been grinding along. Two quick trades tonight (I only just got home in time for the first entry, so I missed a couple points). Looks like there's more movement tonight, but I'm happy with a quick hit and run.

 

[pavilion103]

I assume by taking less trades you mean that you have ideal setups in your playbook and some other B grade setups. You intend to only take the A+ setups? Or do you actually mean to limit the number of trades taken regardless of how good the setup is? It has been said that if you have an edge, then the more opportunities you can find to make that edge work for you the better off you will be. It has been a bit slow on the FTSE recently. I've just been grinding along. Two quick trades tonight (I only just got home in time for the first entry, so I missed a couple points). Looks like there's more movement tonight, but I'm happy with a quick hit and run. <img src="https://www.aussiestockforums.com/forums/attachment.php?attachmentid=58213"/>

Exactly.
Taking A grade setups only (regardless of how often they occur).

Tonight I am short 6844.5 with stop at BE.
Only 1 contract.
Holding now.
If I had 2 I would have lifted one around 6826.

 

[VSntchr]

Exactly.
Taking A grade setups only (regardless of how often they occur).

Tonight I am short 6844.5 with stop at BE.
Only 1 contract.
Holding now.
If I had 2 I would have lifted one around 6826.

was that entry on open pav?
Wondering what triggered u both to go short?

 

[pavilion103]

was that entry on open pav? Wondering what triggered u both to go short?

Will post a chart tomorrow mate.

An opportunistic entry with good RR based on market context.
Only risked 3.5 points.

 

[Lone Wolf]

In my case the idea for short was - We started the day with a strong move down, the up move that followed lacked volume and was obviously struggling to go higher. When I first opened the chart, the up trend had just broken and I got short looking for a continuation of the original down move.