Futures trading journal - GB

[Roller_1]

that was a very nice entry. Are you targeting 3500?

My entry was at the red line but I got stopped out of breakeven. I had to leave the office so I put my stop there but it got hit unfortunately. Green lines were the targets.

I have been trying a few different things on ES as I'm not actively trading it, mainly just in the evenings and afternoons if i see something i like. But if I get my first target then I have been setting a auto stop to trail behind price a certain # of ticks. Trying to capture some outsized gains.

3500 is a long way off? just shorter swings for me

 

[Modest]

Dow at a crucial level of resistance if they dump it in todays session it will bring ES down with it. I am watching to get short... Patience pays

 

[Gringotts Bank]

Gold looking bearish right now. Big volume spikes failing to make new highs. Will drop to 1732 from here, I think.

View attachment 149323

Are you allowed to quote yourself when you make a good call? Modest, I am not.

"Will drop to 1732 from here, I think".

I know, I know... put your money where your mouth is, or shuddup.

 

[Gringotts Bank]

Just realized all this talk of manipulation doesn't serve me. I must stop that - it's a bad habit.

Some potential paths for ES. No trades at present.

View attachment 149260

Following one of those lines, almost exactly.

 

[Gringotts Bank]

ES had a huge burst of selling right near yesterday's close. Wouldn't be surprised if it dumps tonight.

 

[Modest]

ES had a huge burst of selling right near yesterday's close. Wouldn't be surprised if it dumps tonight.

Let’s hope so sir!

Russell and NQ looking weak. Dow at resistance if it’s going to dump it’s going to be here

 

[Gringotts Bank]

4018 looking like a good spot to short, if it gets there.

 

[InsvestoBoy]

So nobody looking for 4200?

 

[Gringotts Bank]

So nobody looking for 4200?

Shorting is hard! 4018 was a nice entry, but it won't be something I do in real trading.

 

[Gringotts Bank]

Down 41 ticks immediately prior to the news, then it rips 177 ticks. 1pm NY time.

YM 1 min.

 

[Modest]

I’ve entered short today on the edges so nice tight stop.

Are you trading live GB?

 

[InsvestoBoy]

Down 41 ticks immediately prior to the news, then it rips 177 ticks. 1pm NY time.

YM 1 min.


View attachment 149667

Again, you are bound to see this kind of price action around news events, but don't read into it. Participants withdraw liquidity, prices can get thrown very around easily on a few dumb market orders. It'd be a mistake to read into it, IMHO.

 

[Gringotts Bank]

I’ve entered short today on the edges so nice tight stop.

Are you trading live GB?

nope. Got a few steps to complete, including some more time paper trading.

 

[Gringotts Bank]

I've decided I want to trade ES, YM and FESX.

At this early stage of development, a guaranteed stop loss seems pretty important, and I can only get that by trading index CFDs. I think CMC will be ok. The CMC platform is very basic, but intuitive and easy to use. Anyone who has used CMC for CFDs - what did you think?

The systems I've developed really need to be automated. This is my biggest sticking point. With TV you can't automate index systems, only FX and crypto. I've had a look at SierraChart and it's amazing for automation, but then no guaranteed stop losses. Right now it seems my only option is to set alerts, but the thought of being woken up in the night to place a trade is very unappealing. Initially I thought it would be ok to trade 6pm-1am Sydney time, but I'm not getting the juicy trades.

Stumped. Any suggestions welcome.

 

[InsvestoBoy]

I've decided I want to trade ES, YM and FESX.

At this early stage of development, a guaranteed stop loss seems pretty important, and I can only get that by trading index CFDs. I think CMC will be ok. The CMC platform is very basic, but intuitive and easy to use. Anyone who has used CMC for CFDs - what did you think?

From memory, IG also offers GSLs.

That said, I doubt you can be profitable using them.

The systems I've developed really need to be automated. This is my biggest sticking point. With TV you can't automate index systems, only FX and crypto. I've had a look at SierraChart and it's amazing for automation, but then no guaranteed stop losses. Right now it seems my only option is to set alerts, but the thought of being woken up in the night to place a trade is very unappealing. Initially I thought it would be ok to trade 6pm-1am Sydney time, but I'm not getting the juicy trades.

Stumped. Any suggestions welcome.

Why do you thinkTradingView can't automate index vs FX/crypto?

Anyway, don't brokers like Pepperstone offer MT4/MT5 and all the usual CFDs?

On the matter of CFDs at all...you do you...but to me it seems insane to trade CFDS intraday or swing. OANDA is what, 0.4 point spread on the SPX500USD CFD.

That's 0.8 points per round trip. After a hundred trades you will be -80 points.

That is a lot of drag on expectancy.

To me, the only sane thing to do if you think you can profit from intraday or swing moves consistently is to have a futures account with a broker like Interactive Brokers and use limit orders to minimise your drag.

 

[Gringotts Bank]

From memory, IG also offers GSLs.

That said, I doubt you can be profitable using them.



Why do you thinkTradingView can't automate index vs FX/crypto?

Anyway, don't brokers like Pepperstone offer MT4/MT5 and all the usual CFDs?

On the matter of CFDs at all...you do you...but to me it seems insane to trade CFDS intraday or swing. OANDA is what, 0.4 point spread on the SPX500USD CFD.

That's 0.8 points per round trip. After a hundred trades you will be -80 points.

That is a lot of drag on expectancy.

To me, the only sane thing to do if you think you can profit from intraday or swing moves consistently is to have a futures account with a broker like Interactive Brokers and use limit orders to minimise your drag.

I'm concerned about major world events causing a sudden 5% drop on indices. If there's some sort of problem with your broker, internet, platform, or maybe even the exchange, it might blast through your stop then what? That's why I want guaranteed SL.

 

[InsvestoBoy]

I'm concerned about major world events causing a sudden 5% drop on indices. If there's some sort of problem with your broker, internet, platform, or maybe even the exchange, it might blast through your stop then what? That's why I want guaranteed SL.

You are over leveraged if a 5% drop is that big of a problem.

 

[DaveTrade]

I'm concerned about major world events causing a sudden 5% drop on indices. If there's some sort of problem with your broker, internet, platform, or maybe even the exchange, it might blast through your stop then what? That's why I want guaranteed SL.

@Gringotts Bank have you thought about trading options, it's the only thing that gives you a hard stop-loss. The other reason why I went to options is the leverage that you get more than compensates for any exchange rate loss.

 

[InsvestoBoy]

Good point @DaveTrade at least for ES and YM there are now 0DTE options that have quickly become quite liquid.

 

[Gringotts Bank]

@Gringotts Bank have you thought about trading options, it's the only thing that gives you a hard stop-loss. The other reason why I went to options is the leverage that you get more than compensates for any exchange rate loss.

Options on futures isn't something I've ever looked at. Thanks for the suggestion. I'm a bit hesitatnt to change everything at this point, but maybe it's needed.

[edit] - Just had a read. The way they do it doesn't fit with my current system. Worth a look but prob not going to be an option for me.