The transition to Futures trading

[>Apocalypto<]

first trade long gold... higher low off pre support trend break with ma's in a squeeze... looking for 460 cents profit.

 

[Wysiwyg]

Coming back to easy markets like WTI and Spot Gold : haha

Trading a live acc 500 big ones in there atm.... all trades will be $1 a tick/point 1 hour TF entries due to spreads.

Spreads at present on IC Markets WTI is 5 to 6 cents and better than GO Markets CL-OIL 6 to 8 cents. There is a 1 cent difference in quoted price. At $1 per cent, IC Markets have less to make up before punt turns positive. No commissions to pay.

 

[Wysiwyg]

first trade long gold... higher low off pre support trend break with ma's in a squeeze... looking for 460 cents profit.

That could be a rising wedge in a down trend which is bearish although the price is near lower support as you mentioned, so some upside.

 

[>Apocalypto<]

Spreads at present on IC Markets WTI is 5 to 6 cents and better than GO Markets CL-OIL 6 to 8 cents. There is a 1 cent difference in quoted price. At $1 per cent, IC Markets have less to make up before punt turns positive. No commissions to pay.

that's why i went with them Wysiwyg, coming from the true spreads at IB even 5 cents was so high to me... but IC say they drop to 4 cents in us session... gold to 30 cents.

 

[Lone Wolf]

I've pulled the plug on spot fx under the daily...... too hard for me....

Well nobody can say you didn't try. I remember reading you and tayser "Scalping FX with Cyrox Rainbow" back in 2008. I don't know if that was the best method around, but it sure was nice to look at.

Best of luck with your move back to gold and CL

 

[>Apocalypto<]

first trade long gold... higher low off pre support trend break with ma's in a squeeze... looking for 460 cents profit.

flipped... now short... tighter stop at 1280.20... looking for 420 cents

 

[>Apocalypto<]

Well nobody can say you didn't try. I remember reading you and tayser "Scalping FX with Cyrox Rainbow" back in 2008. I don't know if that was the best method around, but it sure was nice to look at.

Best of luck with your move back to gold and CL

that was so long ago...

thanks... just have keep my head together not create trades.

 

[pavilion103]

FTSE looking potentially toppy on larger timeframes.

I took 2 contracts tonight. See below. I had 2 attempts at a short prior to this one which both failed.

With this trade the first contract I trailed stupidly. Regret having it so tight. 6 lousy points and sacrificed a bigger move

Poor trading there.

Second one I have trailed at the orange line and will leave overnight.

I am fairly confident that we have reached a top at the 6555 area (roughly).
I believe this will either come off over night, or provide a very good short opportunity in the next day or two if it pushes back up.

Anyhow, 1 contract live at the moment (Stop 6544). Will wake up tomorrow and see.

 

[pavilion103]

Uneventful.

Exited before the close at 6530

 

[pavilion103]

Last 3 trading days:

-8.5
-9.5
-5.0

Just happy not to lose too much when the down days come. Even 1 day of 25 points profit wipes these out. Small losses in comparison to my winners.

 

[pavilion103]

Looking at the bigger picture....

I think this is a little toppy.

Looking for a rejection of the 6630-40ish area for a short. The next 2 nights will tell a lot.

IF this are a is rejected then it could be a good opportunity to the short side.

If I took 2 contracts at around 6640, I'd lift one just above 6600 and let one run. There is some room to move below.

 

[pavilion103]

Apologies in the posts above where I wrote 6530, 6544.

Should be 6630 and 6644.

 

[VSntchr]

FTSE slowly marching on up..public holiday for us tomorrow so I might stay up and watch some of the markets while I do some analysis work tonight..interested to see what the usual crew are doing

 

[Lone Wolf]

I went short at 6678 at around 9:00pm. Was up 11 points or so but held since I was expecting a larger move down. Left the screen after getting stopped out for break even. I just came back now to see it down 60 points. There was even a second opportunity to get on at 6666. Never leave the screen... ever.

 

[>Apocalypto<]

Well I had a terrible start to this acc... Totally lost it.... composure and discipline... lost over half the acc very quickly.

Pulled a chuck back today/yesterday... just have to do what i did on demo and relax and wait for good trades... trying to make trades is the worst thing i do. Really have to stick to waiting for the end of the hour.

Was feeling very down, but after toughing it out getting some runs on the board feeling better.

 

[pavilion103]

Uneventful narrow range days

 

[MichaelD]

Fascinating how differently the exact same price action is perceived.

I've been away this week, plus the Australian market has only been open for 3 days, so I have been trading in "holiday mode" - a special lower risk mode I go into when I'm not able to access the market promptly at any given time. This produces about 50% of my usual return for the week, so a bit over 2% return on capital for the week was my lot.

I would have made substantially more than usual this week had I been able to trade the available price action normally and had the week been a full trading week, but no regrets here - the holiday mode exists so I can have a life away from trading.

Next week should be interesting - will we collapse downwards or continue to ascend slowly?

 

[Lone Wolf]

Uneventful narrow range days

Yeah, I should have expected as much since I actually had the week off and had the time to trade.

But if you can avoid taking trades in conditions that aren't suited to your style then that's a win in itself.

 

[ftw129]

Fascinating how differently the exact same price action is perceived.

Couldn't agree more!

The small group of traders I'm affiliated with had a very mixed week.

We're all applying the same trading plan, in the same markets but that doesn't mean our trading "styles" are the same. Our results vary in the same market conditions.

This is actually a good thing for the health of the group. Otherwise there'd only be a need for one of us.

For me, I stayed out. I only make mistakes when I think that I might make mistakes. This has taught me to switch off and stay out.

Whether the markets were actually trading in "holiday mode" or not, and whether or not this would make a difference to my "normal" results, became irrelevant. The fact that I thought it might was the nail in the coffin for the week.

 

[MichaelD]

Whether the markets were actually trading in "holiday mode" or not, and whether or not this would make a difference to my "normal" results, became irrelevant. The fact that I thought it might was the nail in the coffin for the week.

Just a point of clarification - as far as I was concerned, the market behaved normally this week. *I* was away on holidays. Thus, I traded differently as I am not able to as effectively manage risk when I am away from home. Thus, I take substantially less risk. If I was home, I would have had an outstanding week.

In my opinion, the market only ever goes on holidays for the 2 weeks from Dec 24th. Otherwise it's business as usual for the rest of the year.