The transition to Futures trading

[Newt]

Another nice one Pav. Congrats.

 

[pavilion103]

I have been flat out and intend to post charts up again once I have time.
I'll post up last night's one if I can because it was a really solid setup.

I've had to adjust my trading in this market and look at picking off 15-25 point winners.
Once a trend resumes I will look to take 2 contracts again, exit one at around 20-30 points and hold the other for 40 or so or overnight if analysis suggests I should do so.

I've had to become more selective in this current market, so main focus is to take fewer good trades and exit them sooner. Not too exciting, but 20 points here and there is handy, especially if losses are small.

I have 3 weeks off from my classes coming up in 2 weeks which will leave me the whole night of Monday, Tuesday and Thursdays. 4:30pm open time next week allows me to catch the all important open anyway now all the way until October.
So while I'm on holidays I will be looking to get back on here and post more stuff in real time like before.
Hopefully others are on at the same time and we can share setups/thoughts.

The level of interest will determine how much I post (in real time).

- - - Updated - - -

Further to that, I'm curious about the current market (FTSE).

It is very slowly pushing up and the next week or so could tell whether it breaks down out of this "wedge" or if it continues to push up gently.

IF it does break down sharply, then I will look to hammer it hard again with multiple contracts.

Not too exciting right now!

 

[CanOz]

The level of interest will determine how much I post (in real time).

Really? So when everyone else is posting and you're too busy to post should we stop posting?

 

[pavilion103]

Really? So when everyone else is posting and you're too busy to post should we stop posting?

Post however much or little as you choose Can. You don't need my permission!

Clearly I am offering my real time analysis and thoughts. If people are interested then I'll engage in that activity because I enjoy sharing thoughts. But if being on live isn't of interest to people I'll just post my charts of trades after they've occurred like always.

Not sure what the issue is...

 

[CanOz]

Not sure what the issue is...

No issue, i think there is plenty of interest. Personally i think live calls are of little use on a forum, perhaps in a live chat i can see it.

You should start a chat room...

 

[pavilion103]

No issue, i think there is plenty of interest. Personally i think live calls are of little use on a forum, perhaps in a live chat i can see it. You should start a chat room...

Yeh that's a good call.
I wonder if anyone would be keen on the chat idea.
Can it be done over Skype (multiple people in a convo)?

I'm on there with kid most nights for the first hour or so.

 

[CanOz]

Yeh that's a good call.
I wonder if anyone would be keen on the chat idea.
Can it be done over Skype (multiple people in a convo)?

I'm on there with kid most nights for the first hour or so.

Yeah, just setup a skype group. We can PM you our skype details and then you can add us...

I'm on skype almost 24/6 so if you prefer i can setup the group, just PM me your details...

 

[pavilion103]

Yeah, just setup a skype group. We can PM you our skype details and then you can add us...

I'm on skype almost 24/6 so if you prefer i can setup the group, just PM me your details...

Yes I don't really know how to set it all up. That would be much appreciated.
Those who are keen PM CanOz and we can look to kick this off.

Assuming we will get a range of people including those who are keen to just sit back a bit and learn to start off with, which is cool.

We can kick this off and see how it goes. I won't be on all the time but usually the first hour or two I will have Skype up while I'm on.

 

[CanOz]

Ok, maybe for a few days i'll do a market prep for the FTSE, just some bigger picture down to the lower time frame...

 

[CanOz]

Here are the 5m, 60m and daily charts..

 

[CanOz]

Look out beeeelooooowww

If we get some downward momentum we could get a nasty retreat...

 

[CanOz]

Really messy ole day again, Eur numbers out in an hours, think i'll get some exercise until then...

 

[pavilion103]

8 points down in 2 trades.
Now long at 13.5

 

[pavilion103]

My night

3 trades for negative 10 points total.
Then these 2.
1 still open.

Nothing exciting. Feel like I'm on a treadmill. A bit of effort, not going far.

 

[pavilion103]

Sorry last long actually 6604, my mistake.

 

[pavilion103]

Out BE.

Good night.

 

[Newt]

I'm really quite lost being unable to get online until a couple of hours after open. I'll have to go back to school and figure out what my plan is for the next 6 months. In the meantime soaking up all the discussion and charts I can.

 

[CanOz]

Thats been a couple of tough days, choppy action, lots of short stop runs...everyone waiting for NFP.

 

[Lone Wolf]

I'm really quite lost being unable to get online until a couple of hours after open. I'll have to go back to school and figure out what my plan is for the next 6 months. In the meantime soaking up all the discussion and charts I can.

The best move of tonight started about two hours after the open. So it's not all bad, you can still get some nice moves later in the day. But yeah, time of day makes a big difference. There does seem to be a point in the day where there's no real push from anyone and we just slowly grind along.

We're getting some news related volume right now. I'm not trading it though.

 

[Newt]

I just worry that without the initial 2 hrs typical volatility pushing, any move is more likely to get caught in chop. No use jumping to conclusions. Just have to observe, learn, then figure out a new plan.

What's NFP Canoz?