The transition to Futures trading

CanOz · 20 March 2014

pavilion103 said:
Need to maybe trade 3 in future only for ones on the open in high probability areas.

Would love to exit one if it falls another 30 then hold one overnight.

If I had to go to bed if wait 15 mins now and see if it breaks lower if not close.

Trading 2 though.
Next 30 minutes determines if I hold.

I just got stopped out of my last one at 6499...

pavilion103 · 20 March 2014

Holding mine.
Could take the 40 points but holding has netted me more and I like the short in this spot.
Already 35 in the bank tonight.

Will wake up and check.
Don't mind at all if I give it back but will monitor my holding v exiting early stats to determine what is best overall.
Only holding because of the spot it's in. Not my usual plan on a day.

pavilion103 · 20 March 2014

Post deleted .

Night all

pavilion103 · 20 March 2014

Last minute change of mind.
Stop to 6517.
If this gets taken no reason why it can't go back to my stop.

Guaranteed 25 points on second trade.

60 points locked in for the night.

CanOz · 20 March 2014

pavilion103 said:
Last minute change of mind.
Stop to 6517.
If this gets taken no reason why it can't go back to my stop.

Guaranteed 25 points on second trade.

60 points locked in for the night.

Thanks why they call it "day trading"....

Nothing wrong with taking a profit and having a good night sleep...:sleeping:

kid hustlr · 21 March 2014

Didn't realise you were a swinger CanOz. Do you always trade 4 contracts?

kid hustlr · 21 March 2014

A little point of interest and why it can be beneficial to keep stats/notes on each trade.

I've had a look at the FTSE off and on for the last 6 months or so I'd say, I've taken the odd trade here and there and have been smack bang on break even and never really committed to it. Start of March I made a commitment to myself to really make a go at it and put in the hours and treat is as a job. Working with Pav lately has been very beneficial for me.

Since then (start of March) I've taken 7 trades. (irrelevant)

My net result is + 8 ticks. (irrelevant)

6 of my 7 trades have been longs. (relevant considering we have been in a big down trend)

3 of my 7 trades have been modified (relevant because although there is a level of discretion allowed I shouldn't be modifying that many trades)

Just thought the last couple of stats were interesting. Still excited as all heck to trade the FTSE moving forward.

pavilion103 · 21 March 2014

60 points up in the end.

Didn't break lower.

Consolidation now.

Will only be one one day again next week then everyday from then on.

CanOz I like your 4 contract idea. Thinking in a couple of months of going to 3 (for good setups) but holding for similar moves that I'm making now. If that works, towards the end of the year I'll go to 4 where I will probably stay for a long time. That's my goal.

CanOz · 21 March 2014

kid hustlr said:
Didn't realise you were a swinger CanOz. Do you always trade 4 contracts?

Yup, always on the FTSE. I'm down to 2 on the DAX lately. I don't take many FTSE trades as i only have a chart open for it, no Depth.

kid hustlr · 21 March 2014

CanOz said:
Yup, always on the FTSE. I'm down to 2 on the DAX lately. I don't take many FTSE trades as i only have a chart open for it, no Depth.

well looks like you cleaned up matey so that's good to see.

from memory I thought u said u had given up the intra day stuff, do you mind if I asked what changed?

if you don't want to answer or cant be assed then no problem

CanOz · 21 March 2014

kid hustlr said:
well looks like you cleaned up matey so that's good to see.

from memory I thought u said u had given up the intra day stuff, do you mind if I asked what changed?

if you don't want to answer or cant be assed then no problem

I don't know exactly, perhaps the fact that I'm going back to work...just sort of took the pressure off i think. Even though i was well capitalized, i subconsciously felt that i had to make an income from the market and that affected my thinking. That said my FTSE trading isn't much to write about, I've hardly taken many trades at this month at all.

kid hustlr · 21 March 2014

CanOz said:
I don't know exactly, perhaps the fact that I'm going back to work...just sort of took the pressure off i think. Even though i was well capitalized, i subconsciously felt that i had to make an income from the market and that affected my thinking. That said my FTSE trading isn't much to write about, I've hardly taken many trades at this month at all.

ta mate.

I think u should keep at it, clearly know your stuff.

edit: spelling

CanOz · 21 March 2014

kid hustlr said:
ta mate.

I think u should keep at it, clearly know your stuff.

edit: spelling

Well it looks like another three to four years of my prior career soon. Then after that we'll move back to Australia. If i can't get a job then i'll try out at propex once i get my visa worked out.

By that time you'll be swinging huge size on the bills!

kid hustlr · 21 March 2014

CanOz said:
Well it looks like another three to four years of my prior career soon. Then after that we'll move back to Australia. If i can't get a job then i'll try out at propex once i get my visa worked out.

By that time you'll be swinging huge size on the bills!

haha cant see myself ever touching the bills, much prefer the back end where theres a little more life and far more idiots trying to take money off of each other.

interesting point you make about working and feeling more confident trading, that makes 100% complete sense to me, if you have that steady income coming in you really do have that safety net to trade as you see it and not be concerned about the $$

CanOz · 21 March 2014

We should be rolling today, so I will post the volume after Pre open....

CanOz · 21 March 2014

yup. 06-14

lesm · 21 March 2014

CanOz said:
Hey Lesm, really good to see you around again, what ya been up to for the last 4 years or so?

Hi Can,

It has been quite some time since, I have been on here.

Been lurking for a little while to see who was still around and how the forum had progressed. Still a few of the names I recognise are still here.

I have been extremely busy work wise. Was made an offer I couldn't refuse to join a start-up company, but have now gone back to consulting. Starting to get some time back to focus more on trading again.

Noticed that you are still in China. Looks like your trading has progressed quite bit over the last few years.

I have been upgrading Amibroker and NinjaTrader to get everything set up again, then back into it.

Got knocked around a little bit during the GFC, trading spot and the DAX, but that happens. Nothing devastating, just gave the market some of its money back at times.

Will be back trading the DAX and spot, a little bit older and wiser from experience.

CanOz · 22 March 2014

lesm said:
Hi Can,

It has been quite some time since, I have been on here.

Been lurking for a little while to see who was still around and how the forum had progressed. Still a few of the names I recognise are still here.

I have been extremely busy work wise. Was made an offer I couldn't refuse to join a start-up company, but have now gone back to consulting. Starting to get some time back to focus more on trading again.

Noticed that you are still in China. Looks like your trading has progressed quite bit over the last few years.

I have been upgrading Amibroker and NinjaTrader to get everything set up again, then back into it.

Got knocked around a little bit during the GFC, trading spot and the DAX, but that happens. Nothing devastating, just gave the market some of its money back at times.

Will be back trading the DAX and spot, a little bit older and wiser from experience.

Lesm, we've got to catch up sometime...seriously, I have so much to catch up with you...

Let's do it soon! Great to see ya mate!

pavilion103 · 25 March 2014

A couple of days away and there has been no discussion!

I'm feeling fairly average tonight so I might not go to my class. If I don't I'll stay home and trade. Interesting few days ahead. I'm thinking of attempting to get on the next few nights as it could be a critical time and it shouldn't be too difficult to clear the schedule.

People must get sick of me saying I'm looking for shorts but I will be again. If I get the right setup.

CanOz · 25 March 2014

Hey yeah, i'm a little bearish as well with my Fear Indicator blushing a bit and the daily having failed to hold above the continuous VWAP...

The transition to Futures trading

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Home runs feel good, but base hits pay bills!

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