The transition to Futures trading

[kid hustlr]

Nice trades.

The second one is interesting, we are right at that consolidation zone from last night, it could easily break lower in a sharp fashion but I like the way you've constructed the trade(s). Take the 16 tick profit now then if she breaks again look to re-enter. Below 6210 it might be bombs away.

Edit:

Pav, thoughts on a buy stop @ 6231?

 

[pavilion103]

Funny you ask...

I just took a very very short one @ 6231


Looked a good setup to me. Took another 6.5 points and closed out.




I only had a small target near that 6240 resistance area, but looking at the different timeframes 3 min and 5 min, looked like some supply on that widespread bar which closed in the middle, so just took my 6.5 points. No point risking more for another 3-4.


That does me for tonight. Off to do something else......

21.5 points tonight (3 trades)

 

[kid hustlr]

Funny you ask...

I just took a very very short one @ 6231


Looked a good setup to me. Took another 6.5 points and closed out.

View attachment 53141


I only had a small target near that 6240 resistance area, but looking at the different timeframes 3 min and 5 min, looked like some supply on that widespread bar which closed in the middle, so just took my 6.5 points. No point risking more for another 3-4.


That does me for tonight. Off to do something else......

21.5 points tonight (3 trades)

Good night.

I was stopped at break even on the sim. In hindsight I think taking the ticks on offer was the better play that time given the previous consolidation area @ 6240 or so as you pointed out.

- - - Updated - - -

Tech/a et.al:

When you get a chance, as well as getting your thoughts on the Nikkei set up at the open from this morning, I'm interested as to whether you see the following chart the same way I do. I took a very small break out trade opportunity this afternoon in the aussie 10 year bonds and ended up scratching it because I had no confidence in the trade. The charts attached shows my thoughts. Is this how you view it?

 

[CanOz]

If thats the rejection of the lower bracket area then we should expect the top of the bracket to be tested....

Price needs to return and be accepted at 6239.5 ish first of course

CanOz

 

[pavilion103]

Couldn't help myself. Entered some shorts for tomorrow. Checked the FTSE and it just happened to be right at strong support. Check this out on the 15 min chart.

Ripper entry. 6221, stop 6216. Stopped moved up within 1 bar.

Might watch for a bit before bed. Almost time for sleep!!


Everything has gone right tonight for some small wins.



- - - Updated - - -

Stuff it. I can't be bothered looking at the screen anymore.

Out at 6229. 8 points on that one.

Resistance at 6240 anyway so no likely big move worth staying up for.

Finished 29 points up this evening. A good night for a small fish like me

 

[kid hustlr]

Found a corker on the open of the Dax.



Edit:

got the numbers wrong on the chart, its more like 14 ticks risk initially and 18 ticks or so locked up.

 

[pavilion103]

Good work.

I likely won't be on tonight.

I'll check it later and see how it's panned out.

 

[mr. jeff]

Found a corker on the open of the Dax.

View attachment 53152

Edit:

got the numbers wrong on the chart, its more like 14 ticks risk initially and 18 ticks or so locked up.

Wow I hope you held into that wide sell down that was a very big move
= dollars for the week

 

[kid hustlr]

Wow I hope you held into that wide sell down that was a very big move
= dollars for the week

I didn't get the final move. I should have re-entered again though it was an excellent set up.

My trade as marked, still need to work on the trailing stop and how it should be managed.

 

[CanOz]

Thats a nice Dax trade, straight from the open virtually.

 

[tech/a]

I didn't get the final move. I should have re-entered again though it was an excellent set up.

My trade as marked, still need to work on the trailing stop and how it should be managed.
View attachment 53154

Great trade
Nothing wrong here.
other than you could have recognized the pattern for a continuation pattern
Volume decreasing as it rose.
I generally swap to a longer time frame if it runs and try and take out the noise of shorter time frames.

If you check out say a 9 min chart you'll see the exhaustion volume coming in at the most recent low. (Clearer)
That would have been my warning to set a stop.

Dont know that you'd have got a lot more in the reality of it.

 

[kid hustlr]

Thats a nice Dax trade, straight from the open virtually.

tx Can, was pretty much a carbon copy of what tech/a was talking about in a chart I posted on the SPI last week. only instead of buying we were selling!!!

As an aside, very crazy night, lots of volatility.

 

[kid hustlr]

tx Tech. In hindsight when I look back I'm kicking myself for trailing the stop so close, as you said its a pretty good continuation pattern and I could have just trailed the stop a little more relaxed than I did.

Mind you hindsight is 20/20 and if I could see into the future I'd have put money on the swannies last year.

 

[CanOz]

tx Can, was pretty much a carbon copy of what tech/a was talking about in a chart I posted on the SPI last week. only instead of buying we were selling!!!

As an aside, very crazy night, lots of volatility.

Yes, i'm very short a couple of stocks in the US so looking for a gap down to sell into...

On your trade i put an ATR stop on it and didn't do much better than you did...

CanOz

 

[mr. jeff]

Yes, i'm very short a couple of stocks in the US so looking for a gap down to sell into...

On your trade i put an ATR stop on it and didn't do much better than you did...

CanOz

There's a significant similarity in a few markets showing a solid resistance level, with a descending triangle. Could pop shortly... Whether it is Euro fear that helps it down or a stop-hunt higher I am not sure.

 

[CanOz]

There's a significant similarity in a few markets showing a solid resistance level, with a descending triangle. Could pop shortly... Whether it is Euro fear that helps it down or a stop-hunt higher I am not sure.

Yeah i noticed that, got the one on the ES outlined...sometimes those patterns are so well defined...my guess is for a messy break out ...lower

 

[pavilion103]

Big consolidation. Triangle.

Very tight range has formed.

Got home just in time. This will be interesting...

 

[pavilion103]

There's a significant similarity in a few markets showing a solid resistance level, with a descending triangle. Could pop shortly... Whether it is Euro fear that helps it down or a stop-hunt higher I am not sure.

Yes noticed this too. See above. Entry set.

 

[CanOz]

Looks like the ADP number thru the cat amongst the pigeons there on that little triangle thingy....trust those pesky news releases to screw up a good pattern....

 

[pavilion103]

Lost 9 points. Only trade for the night.

No opportunity to move the stop further.

That's disappointing was looking forward to a nice juicy move!