Roller's Intraday futures journey

[eskys]

Yes, a lot of volatility, VIX isn't too alarming, up and technicals recommending strong sell ( I have difficulty understanding this. Not only chart illiterate, I have difficulty with comprehension too, it so appears)

So, better for me to do what I know........take profits before they evaporate (pay close attention to the details) Good luck, Roller.

 

[Roller_1]

Yes, a lot of volatility, VIX isn't too alarming, up and technicals recommending strong sell ( I have difficulty understanding this. Not only chart illiterate, I have difficulty with comprehension too, it so appears)

So, better for me to do what I know........take profits before they evaporate (pay close attention to the details) Good luck, Roller.

From what I can see there is no fundamental factor, just a huge run up on the Nikkei and traders taking profits I believe. Then once it starts dropping there is a bit of panic.

The run in the Nikkei in comparison to ES and our market has been huge

 

[eskys]

From what I can see there is no fundamental factor, just a huge run up on the Nikkei and traders taking profits I believe. Then once it starts dropping there is a bit of panic.

The run in the Nikkei in comparison to ES and our market has been huge

Your last sentence.........have noticed that too since the beginning of the year......huge spike up (down today though)

I'm in a pickle in nabtrade....trader advantage isn't an advantage today......they're in a fix with calls...still waiting.....

 

[Roller_1]

Higher timeframe trend is still up, but after yesterday's meltdown there may still be some selling to come. I will be watching the 750 area for signs of a turnaround back towards the upside.

It is also rollover day which always confuses me, so I am unsure whether I should be trading the June contract or the September contract… I think I will stay with the June contract until tomorrow when I switch. There still seems to be volume on here so it should be okay

 

[eskys]

Hello Roller, are you there? What's news? Our graph has plunged.I've been out all morning and haven't been able to find any news as to why the sudden plunge after 2pm

 

[Roller_1]

Hello Roller, are you there? What's news? Our graph has plunged.I've been out all morning and haven't been able to find any news as to why the sudden plunge after 2pm

Hey, yes there was no news around, just after lunch at 1 PM (SA time) once the stock market reopened it just tanked again. This has happened a few times over the last few weeks, normally there is some volatility at this time but rarely it turns into a sustained move like this. But these are interesting times, very volatile

I was looking short this morning after we pushed up, but I got shaken out on that last push up. I had a few breakeven trades trying to get the bottom but wasn't patient enough. Decided I would take my small daily loss.

If I can limit my daily losses to small size then I should be able to work my way to where I want. I just need to remind myself it's okay not to have a position on, there will still be opportunities tomorrow.

 

[eskys]

I find it tough trading these days, unpredictable. Again, your last sentence....that's gold. I have the same view.
There's always tomorrow. If not, another time....money saved is money won.

Have a great day tomorrow, Roller. I won't be around much.......Friday, so have a great weekend, and thank you for your response.

 

[Roller_1]

I find it tough trading these days, unpredictable. Again, your last sentence....that's gold. I have the same view.
There's always tomorrow. If not, another time....money saved is money won.

Have a great day tomorrow, Roller. I won't be around much.......Friday, so have a great weekend, and thank you for your response.

What are you trading? Futures?

Yes we shall see what tomorrow brings

 

[Roller_1]

Price dug in overnight and pushed up, still a lot of downward momentum on the mid-time frames but overall trend is still up, maybe trying to turn around here.

 

[eskys]

I don't trade futures, only watch and try to determine what the night will bring and I make up my mind what to pick up or keep for the next day.

Not focused today, thinking of the long weekend......can't be bothered with BHP at the moment (sold when I thought it won't hold above 44.8) May visit end of day, but chances are, I won't....on the road then. Good luck, Roller.

 

[Roller_1]

Days like today really made me question if there is anything between my ears

After the open price was looking like it was going to break out so I was ready to take an early long, once some momentum came in I'd got a long and road price up for nearly 50 ticks, there was some serious momentum but I failed to catch the blow off top after it missed my target by two ticks. then my manual orders did not get filled at the ask. I was going to take two contracts off and hold anothr 2 for a push through that upper zone.

Once price started to fall down I said to myself it's okay my initial stop (red line) is in a logical place and it is unlikely to get hit. The reason being that this is where the breakout initiated from (blue line) there is obviously demand at that level. If it does my thesis is wrong and it's okay. This is about where logical thoughts go out the window.

Near the high I was up a lot more than my average win and seeing that come down and thinking it might turn into a loser really messes with your head. So I proceeded to over trade like an absolute mug.

Just the classic Mike Tyson (I think) "everyone has a plan until they get punched in the face"

Very frustrating. Just wasting time

 

[Roller_1]

Very similar set up to a few weeks ago, after a couple of downtrending days price turns around in the US session. And after the open rockets up to a blow off top and then a pullback to the breakout point to pick up any big boys that missed out and then grinds back up to the high of the day.

Making my previous post even worse is I had this day in mind the whole time

 

[Gringotts Bank]

What contract is that pls?

 

[Roller_1]

What contract is that pls?

it's the nikkei mini sept contract

 

[Gringotts Bank]

it's the nikkei mini sept contract

Thanks.

Would you know the date for rollover for ES?

 

[Roller_1]

Small short to slightly redeem myself after a failure to over come the blow off level

 

[Roller_1]

Thanks.

Would you know the date for rollover for ES?

Trading view has the info

 

[Roller_1]

We are starting to get up towards possible areas for short positions. These will be more risky though I believe is the higher timeframe trend is still up. But up around this area is where prices were rejected a few days ago.

A few levels of interest marked up on the chart

 

[Roller_1]

I held through all that consolidation all morning, just for a upthrust to stop me out before falling away to my target. There was a chance to re-enter on a pullback into the consolidation but in the past I have been burnt by taking multiple losses going for the same trade. So that is one thing I am trying to limit.

In hindsight I should have had my stop above the overnight high but it's tough because once these levels get taken it can go five or six points above before reversing. Generally I try to have my stop at least two points above a level like this in case it wants to just push above before reversing. But I probably entered too early so it would have been pushing my risk management.

 

[Roller_1]

Trend is still up, the previous high in this larger timeframe trend is the red line above current price. I'm looking for this to get taken which will provide us with some clues about what price wants to do.

If price dips down to the zone below current levels I will look to get long targeting firstly the redline.