The transition to Futures trading

[CanOz]

Haven't seen this happen for a while on the DAX...

[video=youtube_share;do_QryxGsMM]http://youtu.be/do_QryxGsMM[/video]

 

[ThingyMajiggy]

It used to do that a lot when I used to trade it regularly.

What is that a sign of though? Strength or weakness, could be arguments for both, the fact that someone just smashed through it without thinking and took out the whole lot, or the fact that someone was wanting to REALLY sell that much up there and didn't pull it, is it good because someone big is buying, or bad because someone big was selling?

 

[CanOz]

It used to do that a lot when I used to trade it regularly.

What is that a sign of though? Strength or weakness, could be arguments for both, the fact that someone just smashed through it without thinking and took out the whole lot, or the fact that someone was wanting to REALLY sell that much up there and didn't pull it, is it good because someone big is buying, or bad because someone big was selling?

I have no idea really, it boggles the mind to think of the possibilities. For whatever reason that lot is like a magnet...

Maybe TH or SKC can speculate what the heck it all means

 

[skc]

I have no idea really, it boggles the mind to think of the possibilities. For whatever reason that lot is like a magnet...

Maybe TH or SKC can speculate what the heck it all means

May be someone just needed to go flat aginst the hedge and it wasn't really a directional play.

May be someone was just playing DOM game by putting in a large offer and actually scalping a few levels below that. And they got caught with the sweep (although the sweep wasn't actually that quick).

BTW I've never traded DAX. Is 175 lots really that big? I know it is much larger than the volume at other levels but it really is just 2-3 minutes of volume by the looks.

I agree though... when the chart looks like a breakout and there's a large lot keeping a lid on it, every man and their dog would like to give it a kick to see if it is real or not.

 

[CanOz]

May be someone just needed to go flat aginst the hedge and it wasn't really a directional play.

May be someone was just playing DOM game by putting in a large offer and actually scalping a few levels below that. And they got caught with the sweep (although the sweep wasn't actually that quick).

BTW I've never traded DAX. Is 175 lots really that big? I know it is much larger than the volume at other levels but it really is just 2-3 minutes of volume by the looks.

I agree though... when the chart looks like a breakout and there's a large lot keeping a lid on it, every man and their dog would like to give it a kick to see if it is real or not.

lol...so true..:hammer:

I usually highlight lots over 100 on the DAX. There are many times now where you'll see the depth just thicken up at several levels, seemingly pushing the market in the opposite direction only to thin up a little later and go in the direction of thickening....

There was an energy trading company in the US that was charged over 'spoofing' and i can't help but wonder if that changed the way other participants behaved in other markets as the timing seemed relevant when these large lots disappeared...

 

[pavilion103]

FTSE unclear.
Lost some on Tuesday.
Made a little yesterday.
Not good conditions for how I trade.
I need a lot of clear support and resistance.
This range isn't providing that.

 

[CanOz]

Its seems the HHI has rolled where as the HSI is still trading March...I would have thought these two contracts rolled at a similar time....

 

[Trembling Hand]

Its seems the HHI has rolled where as the HSI is still trading March...I would have thought these two contracts rolled at a similar time....

Nah May on both.....

 

[CanOz]

So my IB volume is stuffed up then

 

[Trembling Hand]

So my IB volume is stuffed up then

Yep


Try hitting "Ctrl" "Alt" "T"

 

[CanOz]

Thanks, but you are showing more volume in April as well

 

[Trembling Hand]

Thanks, but you are showing more volume in April as well

Yeah sorry not May We are now on April as of today, yesty was last of March.

 

[CanOz]

Yeah sorry not May We are now on April as of today, yesty was last of March.

Ahh ok, phew! Thought i was crazy

 

[pavilion103]

Rather in eventful week for me. Was on weird hours so didn't post I here, plus nothing to report.

Finished down around 25 points.

Told myself at the start if the week to take maybe 2-3 selective good trades with this unclear range at the moment. Psychologically I couldn't do this. I overtraded and was a little arrogant with my recent success.

A small price to pay. Some good lessons learnt. Could have blown a lot this week. Overall content. If this is my worst week I'm fairly happy.


I look forward to seeing how this moves out of the consolidation in coming weeks. A push down could signal a decent move. A push back to the highs will also provide some good setups.

 

[CanOz]

Here's one for all you price action traders...

I took a fair reaming yesterday trying to fade the DAX...

...even though this large consolidation, a symmetrical triangle in classical technical analysis terms, had formed and the target was 9573 or so from a measured move calculation.

I was down about 40+ points and called it a day as i had a really good week and didn't want to blow it...As well i was going out to dinner and pool.

So, as an experiment I placed a sell limit order on my sim account near the target for four contracts...then went out for the evening...

Here is the result...

Coincidence, self fulfilling? I don't know but i find it interesting.

 

[Newt]

Interesting to hear how people have found the week. Friday was my first live trading day in futures (FTSE), but realised fairly quickly the usual reversals over a decent price range weren't going to happen. Persisted with some very conservative breakouts late just to come to grips with IB's safety warnings etc in a real environment.

On the good side, was pleased price reversed back down around opening levels after a few hours as I felt it might, on the bad, annoyed I didn't stay out during consolidations. I wouldn't have been game to put on a decent stop loss and sit out the gradual downward move anyway. Doesn't fit with the very limited number of plays with conservative expectations I plan to follow for coming months.

After being up a few points at one stage, I'm not sure if I should be proud or embarrassed my very first day eventually ended in profit for the grand sum of 1 GBP

Its amazing just how much more attention you pay to slippage, commissions and everything for that matter when its real money.....

 

[Newt]

I leave the DAX up while trading the FTSE, purely because my education in recent months has been on the DAX. I had planned to trade the DAX until almost dying of heart failure at the intraday margins IB expects.

Question - what other indicies, news, or even stocks do FTSE day-traders like to have open while at work?

 

[pavilion103]

FTSE opens 1 hour earlier tonight with UK D/L savings.
Next week it opens another hour earlier with AUS D/L savings.

 

[pavilion103]

Short 95.
Heading out

 

[Lone Wolf]

After being up a few points at one stage, I'm not sure if I should be proud or embarrassed my very first day eventually ended in profit for the grand sum of 1 GBP

Its amazing just how much more attention you pay to slippage, commissions and everything for that matter when its real money.....

Hi Newt,

Congrats on the start of your winning streak. What's your style based on? Price action, VSA, reading the DOM...?

If you haven't already, I suggest setting up a paper account with IB and testing everything on that. I've been caught a couple times with technical mistakes that I'm glad I found on demo. Such as the close position button not actually closing out my position immediately like it does with ninjatrader.