The transition to Futures trading

[CanOz]

I know the instrument I trade very well. I like it. Gaps are rare and big dividend gaps are completely foreseeable.

The CFD providers must have changed thier color since TH fleeced them...they let you win.

You should send your track record into Propex and see if they'll fund you

 

[MichaelD]

The CFD providers must have changed thier color since TH fleeced them...they let you win.

You should send your track record into Propex and see if they'll fund you

There are quite specific liquidity limits I have to work within which are artificial, not to mention the artificial up-to-5 point spread after hours. Whilst I stay under the radar (i.e. only take money from other CFD traders) all is well.

I have no need for a prop firm at the moment. I don't need more capital.

 

[CanOz]

I have no need for a prop firm at the moment. I don't need more capital.

Well its not just capital that they provide, but hey if you're happy on your own then more to you!

 

[pavilion103]

No updates guys because last night was break even. Tonight the same.
No action!

 

[>Apocalypto<]

There are quite specific liquidity limits I have to work within which are artificial, not to mention the artificial up-to-5 point spread after hours. Whilst I stay under the radar (i.e. only take money from other CFD traders) all is well.

I have no need for a prop firm at the moment. I don't need more capital.

Agree Michael, if you can achieve what you need at home why bring extra stress/demand/expectation into your life.

My week so far attached, up 282.34 so far this month... if i can keep this consistency going for another few months i plan to get the acc up and trade $5 to $10 a point. Slowly - slowly though.

 

[MichaelD]

Monday - churn
Tuesday - churn
Wednesday - churn

Today - churn, but the close is looking very promising. It's a solid push through a couple of levels which have stood fast for some time.

I've bet long with a smallish position to begin with. Let's see where it leads.

 

[MichaelD]

Well its not just capital that they provide, but hey if you're happy on your own then more to you!

Definitely happy on my own.

Don't need more capital.
Don't need other traders to distract me.
Don't need office supplies.
Happy with the instrument I trade.
Happy with the platforms I use to trade it.
Happy with the room at home I trade from.
Happy with my current lifestyle.

I can't see any benefit in going to a prop firm at the moment.

 

[pavilion103]

This looks potentially interesting.
FTSE.

Upthrust on 5 min chart.
2 very high volume bars relative to what we've seen.
A few no demand bars following.

I've got 2 shorts.
6872 stop 6881 above the high of the day and the upthrust.

S&P looking a little toppy too.
I think this is a good place to attempt a position trade to the downside.
Time will tell.

 

[VSntchr]

This looks potentially interesting.

Going down fast, good call.

 

[MichaelD]

I've bet long with a smallish position to begin with. Let's see where it leads.

Bah.

Out @ breakeven.

Going out tonight so will see if anything develops later on in the evening.

 

[pavilion103]

Going down fast, good call.

Almost disappointed I didn't take the third contract too.

If (big if), this is in fact the top, then I will be holding onto this for the longer term.

 

[Newt]

Was home early today so (sim) traded from the open. Drew in channels from last couple of days and shorted 2 (hypothetical) contracts at 6876.5 and 6877.

Got caught up with family and dinner etc so put on 2 take profits and a stop loss as I had planned to trade. Came back an hr later with +35 pts (first trade off 6867.5) 2nd at 6851. If only it could be that easy every day. Not letting it go to my head.


Disclaimer - last 3 to 4 days of sim trading have been flat or down 5-10 pts stopped out, so not proclaiming to suddenly have clicked. Things I'm slowly getting through my thick skull last week or so:

- If I can't get on until after 8pm don't trade falling price action (ATR)
- Definitely don't try and trade from the middle of expected price action channel for ranging days if starting >couple of hours after the open (wait for support or resistance off lows or highs AND strong price action or STAY OUT)
- WAIT for price action (5min bars) to show where to get in and out, DON'T try to predict just to get in early (and usually incorrectly)
- Once stops are in place chill out and only pay attention to closed bars
- Can still see potential for writing some code to warn me when classic reversal set ups are forming or major breakouts begin - have started furrowing my VB.NET brow again. If I'm going to trade a longer timeframe (5mins) I'm starting to think there are serious benefits actually not sitting in front of the screen watching every tick - I tend to want to do EXACTLY the wrong thing and try to 2nd guess the market. Probably better to leave it on autopilot once stops get to break even.

- Remember I'm a dumb beginner that will be trading one contract and needs all the help he can get from high probability set ups


Hey, my post count is 100, not out


(extra buy order 6873.5 was mistake must confess, mucking around learning to use the DOM)

 

[pavilion103]

I've lifted one contract when it looked a little stronger than hoped!

I've still got one that I'll hold with my stop at 6881.

Not sure if it was silly to take one off or not. Expected price to struggle before the high but probably not pullback as much!

 

[pavilion103]

Was home early today so (sim) traded from the open. Drew in channels from last couple of days and shorted 2 (hypothetical) contracts at 6876.5 and 6877. Got caught up with family and dinner etc so put on 2 take profits and a stop loss as I had planned to trade. Came back an hr later with +35 pts (first trade off 6867.5) 2nd at 6851. If only it could be that easy every day. Not letting it go to my head. Disclaimer - last 3 to 4 days of sim trading have been flat or down 5-10 pts stopped out, so not proclaiming to suddenly have clicked. Things I'm slowly getting through my thick skull last week or so: - If I can't get on until after 8pm don't trade falling price action (ATR) - Definitely don't try and trade from the middle of expected price action channel for ranging days if starting >couple of hours after the open (wait for support or resistance off lows or highs AND strong price action or STAY OUT) - WAIT for price action (5min bars) to show where to get in and out, DON'T try to predict just to get in early (and usually incorrectly) - Once stops are in place chill out and only pay attention to closed bars - Can still see potential for writing some code to warn me when classic reversal set ups are forming or major breakouts begin - have started furrowing my VB.NET brow again. If I'm going to trade a longer timeframe (5mins) I'm starting to think there are serious benefits actually not sitting in front of the screen watching every tick - I tend to want to do EXACTLY the wrong thing and try to 2nd guess the market. Probably better to leave it on autopilot once stops get to break even. - Remember I'm a dumb beginner that will be trading one contract and needs all the help he can get from high probability set ups Hey, my post count is 100, not out (extra buy order 6873.5 was mistake must confess, mucking around learning to use the DOM) <img src="https://www.aussiestockforums.com/forums/attachment.php?attachmentid=57973"/>

Upthrust on 5 min chart followed by no demand = great setup.

Stood out massively to me.

 

[Caveroute]

Upthrust on 5 min chart followed by no demand = great setup.

Stood out massively to me.

Or in PA terms it was a TL break, LH retest, fBO and OD bar trap and 2nd entry short

Dogs balls really :

 

[CanOz]

...... mucking around learning to use the DOM)

Good lad...use it to get prices on sale too!

 

[pavilion103]

6880 holding by the looks of it.

My stuffing around has cost me by taking off a contract and losing 10 points scalping when I shouldn't do that at all!!

Annoyed.

Deep breath... 1 contract is better than none.

Hugely important rest of the night now to see how this plays out.

 

[CanOz]

6880 holding by the looks of it.

My stuffing around has cost me by taking off a contract and losing 10 points scalping when I shouldn't do that at all!!

Annoyed.

Deep breath... 1 contract is better than none.

Hugely important rest of the night now to see how this plays out.

Keep an eye out for all the news coming out Pav, big news night.

 

[Newt]

Or in PA terms it was a TL break, LH retest, fBO and OD bar trap and 2nd entry short

Dogs balls really :

Agggghhhh. Speak English Caver!

TL = trend line break? When did you mean?
LH = Lower high retest? 1730?
fBO = Failed breakout (17:35, on reducing volume?)
OD bar trap and 2nd entry short? Hey?

 

[Newt]

Good lad...use it to get prices on sale too!

Thanks CanOz - do appreciate you describing how to trade with DOM, but I'm yet to "see the matrix" yet! Can see benefits in saving a tick or two with limit orders though if things aren't moving too fast....