Futures blog, GB

[CanOz]

Well I just did...got about 20 odd ticks before my auto trail kicked in....

There is only the actual bid ask spread....if my brokerage was as low as AMPs I could trade 5 tick moves....

Remember, I'm trading the actual futures market...not a synthetic representative.

 

[Gringotts Bank]

Aus200 about to take off.

 

[Wysiwyg]

Aus200 about to take off.

I realise this is your CFD trading thread and can post whatever but when these baseless opinions are posted it detracts from what could be a learned thread.

 

[CanOz]

Wishing I'd just sat on a long gold or treasury position....

 

[Gringotts Bank]

I realise this is your CFD trading thread and can post whatever but when these baseless opinions are posted it detracts from what could be a learned thread.

For me, charts are like surfing waves. You can show me a picture of any of the major breaks in the world and I'll tell you in a split second where it is. The colour of the water, the lighting, the shape of the wave (wedge, barrel, fat, foam ball, pitching, wrapping etc), the number of people in the water, how close it is to shore, whether the surfers are wearing wetsuits, where the picture is taken from (cliff top, boat/jetski, in water, drone), time of day, whether there's wind and and chop, whether you can see through the peak to the other side, the thickness of the lip, whether there's hot girls on the beach (Pipeline!), the slope of the beach, the length of the ride, the types of surf craft in the water (boards, bodyboards, windsurfers, foil boards, skimboards), and so on.

Instruments are like waves - they have signature appearance and behaviour. Chart behaviour (like waves) can change depending on the 'weather'. For perfect surfing conditions, you want a lot of wind a longway offshore, and a light offshore wind close to shore. Tide can make a difference to some breaks and not others. Wind offshore = higher TF - this creates the swell. Wind close to shore = lower TF - this shapes the wave and smooths it out. Tide is akin to 'time of day' for a chart. This is the degree of observation that happens if your mind is attracted to something. I love water, waves, the beach, so it's easy...and I can see a parallel with trading.

In terms of trading, I like watching how a chart moves and what happens with volume (volume = swell size). That's my edge. But psychology is the single most important thing. Find a way that you like to trade, and don't do things that don't suit you. I would never read a NFP report because that would be incredibly boring to me. Same goes for all fundamentals. Movement, shapes, patterns and volume - that's me. I don't know what 'CME' stands for and I have no interest in looking it up on Google- none! But also, I don't want to waste my life looking at charts. I want to know the entire context within a minute, with all relevant info avaliable quickly and on 2 uncluttered chart panes.

The difficulty of the wave should = positions size. Confidence will disappear if things are too big for you, and obviously the best surfers are going hard on the most difficult waves. And confidence is everything. Once you have a small and simple edge, it's all about confidence and fun.

One last thing: if you're making more money than me (and you may well be), you can disregard everything I've written here.

 

[tech/a]

While I understand your ramblings
It’s only about 1 thing ——- PROFIT.

Keep confidence and fun for sport.

 

[precitra]

short CLK8 at 67.31 what is your system say

 

[Gringotts Bank]

Nice surprise that gap, but I think it will get filled.

@precitra, I don't know. Seems choppy, like everything.

Gold has a shape that looks tradable.

 

[Gringotts Bank]

gold flag; should measured move up to 1351.5

 

[precitra]

gc up is trap

 

[precitra]

buy back clk8 at 66.37

 

[Gringotts Bank]

Slow grind up over days ahead. Good enviromnment for spec stocks.

 

[Gringotts Bank]

Bear pennant gold. SHould see it down to the trendline.

 

[CanOz]

I'm short but don't tell the Illuminati....Keep an eye on HG as well...GB

 

[Gringotts Bank]

Looks like broadening wedge now. I think back to the the top line before back down. HG as in copper? Are they correlated?

 

[CanOz]

Somewhat correlated...but they have their quarrels

 

[Gringotts Bank]

I'm fascinated by the way attitude affects decision making in relation to trading. It's almost as if the mind is drawn to take any trade which confirms it's attitude, and cannot go against this. Even if you recognize this dynamic and take the reverse trade, it still holds true.

The only way I can explain this is like so:

1- every experienced trader knows (roughly) what the chart will do into the future, even though they don't recognize it consciously
2- The subconscious craves predictability, so it will choose losers to confirm a negative attitude, and winners to confirm a positive attitude.

@captain black - the feeling when "you just know".

 

[Gringotts Bank]

Somewhat correlated...but they have their quarrels

Like you and me huh?

 

[CanOz]

nice spike lower with gold, all up to my trailing stop now...

 

[precitra]

short ngk8 at2.754 gc should buy back soon