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The transition to Futures trading

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Within 2 bars on the 5 min, stop almost to BE.

Bit tricky with S/R.

If it gets to 6550, I'll watch it there.

Longer term target is 6580. Not sure if it's got that much legs.

Will watch closely
 
Will need some form of pullback/consolidation now.

This is my "ride it out" period.

Where I am willing to give back 10-15 in order to capture the "real move".

Very strong break from the base. Looks promising. Hoping for a shallow pullback/consolidation.
Always a little nervous at this stage of the trade.
 
This is where, as it pulls back, you hope a bar just thrusts back up again away from your stop.



As I speak it's pushed back down to around 6524. Still nervous times. But we are giving it some room.

Deep pullback as expected in this spot.
 
Tricky night tonight. Wonder if its a bit more fickle with volume down pre-Easter?
I too bought the bounce off 6511, but at 6520.5 then 2 more @6529.
Sold them all for +1 profit at 17:56

Then tried a brief short back down to support, but panicked on the strong move up at 1800 and bought it back (-4 for the night so far)

Still expecting a bounce back up to last nights close at the very least, but watching current consolidation.
(Disclaimer - no skin in the game - all paper - but I rarely get a chance to watch in realtime so close to the open)


Enjoying your frequent posts tonight Pav (even if its not all good news)
 
Good to hear you're enjoying it.

If price does take off to the long side from here (which I expect). This shallow pullback will be a bullish sign to flush some out.

Considering a re-entry at 6524, stop 6517.

Could go tighter but tend not to when I'm a little uncertain. I need price action to prove itself to me.

lol as I say that the bar breaks lower AGAIN!
 
Wow. Right back to support and a reversal bar!

I'll still need a setup to take this. We'll see.
 
hmmm 6520, stop 6510 looks ok. Clear reversal bar on different timeframes.

Will this pull back and test the low of the bar? Or is this ready to fly?
 
It looked like a great push down and reversal around 18:22 but we're not getting strong follow through with some nice green bull bars. What a night.

Ah well, I need practice at sitting through real time price action (and learning to sit on my hands).

I'm back in @6519 long (18:24) with 6511 stop......
 

I got 21 entry for 2 contracts.

Already took one off at BE, simply for that reason that it hasn't followed through strongly.

Holding 1 stop at 6515.5.
 
My EA got whipped around last night and gave back $500 so made a few adjustements today. The daily swing charts are setting up for a push down, so tonight will be interesting.
 
Forming nice consolidation area on 2 min chart.
Agree it needs to take off over next 30mins or prognosis poor.

Agree volume very thin compared to usual. Less than half?
 
Well I'm gone for the night fellas.

I'm going to give myself the night off and come back fresh for next week.


Tonight I traded well.
It highlights the importance of defensive trading and risk management.

6 trades all losses (with slippage and commissions) for a total loss of 8.5 points.

1 -0.8
2 -0.9
3 -0.4
4 -2.8
5 -0.5
6 -3.1

Had the chance to get in with 2 contracts twice and cut them.


So important to have small losing days.

When making 40-60 points on many winning days, an 8.5 point loss doesn't make a dent.
 
Strangely enough this is one of the most satisfied feelings I've had after a trading night.

A good sign when satisfaction is based on trading performance and not profitability.

Happy Easter all. Enjoy time with family and friends.
 
pavilion103 said:
6 trades all losses (with slippage and commissions) for a total loss of 8.5 points.
Click to expand...
Very impressive loss control there indeed.

Australia 200 whipsawing away with no direction. Nothing so far for me. Perhaps it will end decisively at the end of the US session.

No matter. A typical week's return for me so far which is pleasing given it's only a 4 day trading week.
 
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