The transition to Futures trading

[Newt]

Nah its free...

tradingeconomics

Thanks for that - and also offering an explanation why trading ranges are so tight today ahead of news

 

[CanOz]

Given the Interest rate decision may not be a surprise, the press conf., after could be more market moving, just a heads up though of course i have no idea what so ever.

 

[Newt]

Again, interesting to hear. I'm only keeping half an eye on it, sim trading, but good to mention in case someone goes nuts in expectation.

 

[pavilion103]

This is my trade for the night.
25 points.
Didn't take 2 contracts because I wasn't THAT confident. Don't regret it.
Most times I will though.
50 points would have been handy.


Closed in a great spot.
Was chatting about it with kid-hustler. We both saw the profit target around 6745-50.
Talked about getting in for a long.
Both too tired.
Relaxation time then bed.

 

[Caveroute]

Short 79

On Skype with kid at the moment

2 short @86.5, L2 punt on an OR that worked.

scalped 1 at 83.5

Added on / scalped once - should have been more.

Exited at 53, RB after a move down from a TL break into strong support.

 

[pavilion103]

2 short @86.5, L2 punt on an OR that worked.

scalped 1 at 83.5

Added on / scalped once - should have been more.

Exited at 53, RB after a move down from a TL break into strong support.

86.5?
So you got in in the first 10 minutes?
It didn't retest that high.

 

[Caveroute]

86.5?
So you got in in the first 10 minutes?
It didn't retest that high.

As I said a punt on an OR [150 tick chart] - you know the h/l of the day is often in the first hour.

I was at b/e soon after entry.

I agree your entry was was high probability than mine.

 

[pavilion103]

Just curious.
Interesting.
That initial few bars often remains the high.

 

[Caveroute]

As I said a punt on an OR [150 tick chart] - you know the h/l of the day is often in the first hour.

I was at b/e soon after entry.

I agree your entry was was high probability than mine.

Here is the un-annotated chart.

 

[Lone Wolf]

I'd like to re-visit this one in more detail If you guys are keen?

View attachment 57111

Thanks for reminding me, I remember that chart of yours now that I see it again. I think we all agree that the trade in question wasn't ideal.

As for tonight, I actually saw almost the same setup you and Pav did. Except that I got distracted and by the time I saw the setup and put my order on it was already two points past my desired entry. So I put a limit order in hoping for it to come back. Last night I moved my stop to within two points and the market came back to get me. Do you think it came back to get me tonight when I wanted it to? Nooo. You snooze you lose.

There might have been another opportunity to get in on the small pullback, entry 6769.5. But I didn't take that either. If I miss my ideal entry I find it very hard to take a worse one.

 

[pavilion103]

69.5 no.

Put your order in ahead of time. Don't scramble at the last minute.

Good work spotting it though.


We also identified a long which probably would have been taken around 61.
Currently at around 78.
Nice move if I'd been bothered to stay up.


Like I said previously in the other thread.
Work on 10 good trades a week.
2 a day often.
The initial short = check
The long at support = saw it but was keen for relaxation before bed.

25 points on first one.
So far almost 20 on the second and id just about take the profit.

 

[Caveroute]

Thanks for reminding me, I remember that chart of yours now that I see it again. I think we all agree that the trade in question wasn't ideal.

As for tonight, I actually saw almost the same setup you and Pav did. Except that I got distracted and by the time I saw the setup and put my order on it was already two points past my desired entry. So I put a limit order in hoping for it to come back. Last night I moved my stop to within two points and the market came back to get me. Do you think it came back to get me tonight when I wanted it to? Nooo. You snooze you lose.

There might have been another opportunity to get in on the small pullback, entry 6769.5. But I didn't take that either. If I miss my ideal entry I find it very hard to take a worse one.

On my chart, and on another chart it will different, 69.5 is a clear and obvious bull trap.

Take a look at the chart a few posts back.

My only concern was a potential trend channel line just below it, not shown.

I did add on here.

.

 

[pavilion103]

Another short on? 75 stop 80?

 

[CanOz]

Another short on? 75 stop 80?

Be careful of the news mate, theres a ton of it coming up!

 

[CanOz]

Those Europeans are a nervous lot, the Euro banged around a 65 tick range and the Dax a 20 point range....that was leaving rates unchanged!

Anyway, thats me done for the night, pretty much worked for the broker tonight to end up with 11 points net, and 174 EUR in commissions.

 

[Newt]

So was it the news release or discussion aftewards that slammed the DAX around 60 pts......?

 

[kid hustlr]

Thanks for reminding me, I remember that chart of yours now that I see it again. I think we all agree that the trade in question wasn't ideal.

As for tonight, I actually saw almost the same setup you and Pav did. Except that I got distracted and by the time I saw the setup and put my order on it was already two points past my desired entry. So I put a limit order in hoping for it to come back. Last night I moved my stop to within two points and the market came back to get me. Do you think it came back to get me tonight when I wanted it to? Nooo. You snooze you lose.

There might have been another opportunity to get in on the small pullback, entry 6769.5. But I didn't take that either. If I miss my ideal entry I find it very hard to take a worse one.

FWIW I didnt make any money tonight either, missed the short Pav took.

I think the 69.5 would have been marginal, if it had settled for a clear flag type pattern id be more inclined to take it but I'm the same as you where if I miss the entry @ 80 its hard to find a sell 12 points lower.

Pav is trading very well lately, his ability to trust his set up / analysis and then just leave it is what i admire most fwiw.

 

[pavilion103]

Be careful of the news mate, theres a ton of it coming up!

Didn't take anything.
Important to know with the news!

 

[pavilion103]

So was it the news release or discussion aftewards that slammed the DAX around 60 pts......?


View attachment 57130

I don't trade the DAX but if that setup was on the FTSE I'd take it 10/10 times!
Entry 70ish, stop 80.

What is the dollar P/L per tick/point with the DAX?

 

[CanOz]

I don't trade the DAX but if that setup was on the FTSE I'd take it 10/10 times!
Entry 70ish, stop 80.

What is the dollar P/L per tick/point with the DAX?

The Dax is 12.5 eur per tick, or 25 per full point.