The transition to Futures trading

[barney]

If this bar closes near the high on the DAX I no longer have a short opinion.

Over 1% push on the DAX with no US and no FTSE "help" into higher highs looks like the start of a retailer trap to me.

DAX has channelled for several days with no accumulation and looks short term unsustainable.

Personally looking a range to develop then a drop back to previous range highs at least. ie. Now looking for Shorts at any Range tops. Interesting to see what develops.

 

[pavilion103]

Over 1% push on the DAX with no US and no FTSE "help" into higher highs looks like the start of a retailer trap to me. DAX has channelled for several days with no accumulation and looks short term unsustainable. Personally looking a range to develop then a drop back to previous range highs at least. ie. Now looking for Shorts at any Range tops. Interesting to see what develops.

I'm not saying the short play is over but I wouldn't jump in right now.

I am still keeping an eye out for a potential opportunity to the short side but I'd need some further confirmation now.

If this continues with strength I'd look then I'd look moreso for longs!

 

[CanOz]

Its just a low liquidity squeeze dudes...Think about it, if you had been short the DAX going into the weekend and wanted to get out when the market opens, after a gap up, what premium for that are you going to pay as you stand in line??

Since i believe its short covering ,the lower value areas WILL get tested sooner rather than later

 

[pavilion103]

Its just a low liquidity squeeze dudes...Think about it, if you had been short the DAX going into the weekend and wanted to get out when the market opens, after a gap up, what premium for that are you going to pay as you stand in line?? Since i believe its short covering ,the lower value areas WILL get tested sooner rather than later

I agree with this.
I'm not trading DAX anyway.
But if I was, I'd need a new setup.

FTSE on the other hand is still holding well below the highs. I think this one is still good for a short if a setup appears tonight.

 

[barney]

I'm not saying the short play is over but I wouldn't jump in right now.

I am still keeping an eye out for a potential opportunity to the short side but I'd need some further confirmation now.

If this continues with strength I'd look then I'd look moreso for longs!

Yeah I agree with that Pav, but only if the "strength" you mention is obviously buying strength ...... Its certainly not a Short trade at the moment, but I think the Professional push into new highs gives yesterday is important information relative to the next round of price action (1/2 weeks) .. Certainly interesting at the moment.

ps. Just noticed the big gap up on the FTSE .... Hope you didn't get hit too hard on that.

 

[pavilion103]

Yeah I agree with that Pav, but only if the "strength" you mention is obviously buying strength ...... Its certainly not a Short trade at the moment, but I think the Professional push into new highs gives yesterday is important information relative to the next round of price action (1/2 weeks) .. Certainly interesting at the moment. ps. Just noticed the big gap up on the FTSE .... Hope you didn't get hit too hard on that.

I agree.
I meant if strength follows. Bad wording.
Interesting week following that push up.

It cost me 40 points total on the 2 contracts.
It didn't even take out my stop though but I exited both positions given that my stop was only about 20 points away and I wasn't willing to risk that on pre-open price action (which would have taken me out as it turned out).

Back in now for 1 contract at 6830.

 

[MichaelD]

Last post. It's been fun.

Some of my "guerrilla" rules of survival.

1. Never risk gapping a profit into a loss.

2. Never let a handsome profit evaporate.

3. If everyone else is zigging, zag.


Happy trading all.

 

[pavilion103]

Last post. It's been fun. Some of my "guerrilla" rules of survival. 1. Never risk gapping a profit into a loss. 2. Never let a handsome profit evaporate. 3. If everyone else is zigging, zag. Happy trading all.

Lol

 

[pavilion103]

My Internet forum posting rules:

1. Never be a keyboard warrior

 

[cynic]

Last post. It's been fun.

...

Please don't abandon this thread Michael.

I've been enjoying your contributions and although there can be significant contextual variances in trading styles and/or methodologies the ensuing debates can at times be very illuminating and worthwhile.

 

[barney]

Last post. Happy trading all.

Why the Last post Mike?? Your input has been very much appreciated.

Of course if you are off to spend the remainder of your days on a boat in the Bahamas, I understand


PS What Mr Cynic said above

 

[beachlife]

My Internet forum posting rules:

1. Never be a keyboard warrior

Wow I think you just blew an opportunity to learn from someone that actually trades for a living.

 

[CanOz]

And so it goes.....

People are people, some will come and some will go....

Michael clearly has better things to do with his time....like make money.

 

[pavilion103]

Wow I think you just blew an opportunity to learn from someone that actually trades for a living.

Did that from Tech who contributed 10 times as much as this guy.

 

[LinRegSlope]

30 min SPI Futures chart. 5560 resistance is still to be tested. Momentum has slowed. The question is whether it is just having a breather or starting to roll over?

 

[LinRegSlope]

Did that from Tech who contributed 10 times as much as this guy.

I certainly don't share the same opinion!

 

[pavilion103]

I dunno. Maybe he left in case the market does push down now and he looks silly for criticizing people for having a short bias and telling them that it's only because they are in a current short trade.

But that's a forum. Many come. Many go.
The discussion continues.

 

[pavilion103]

30 min SPI Futures chart. 5560 resistance is still to be tested. Momentum has slowed. The question is whether it is just having a breather or starting to roll over? <img src="https://www.aussiestockforums.com/forums/attachment.php?attachmentid=58140"/>

Possibly.
Wait for further confirmation I guess.

FTSE struggled a bit last night.
Interesting few days ahead.

 

[beachlife]

Did that from Tech who contributed 10 times as much as this guy.

How can someone that supplements his trading with income from his business teach you about trading for a living without the safety net of a second income to cover losses? It a totally different pressure. Just the pressure of a trading comp with Can turned him to mush.

Don't take this the wrong way, but this thread is over 12 months old, you are still working, and barely comfortable with trading more than 1 contract. If you are happy with that fine, but if you aspire to become a full time trader maybe you should reconsider who you listen to. Please take as a friendly

 

[kid hustlr]

Beachlife care to explain your trading history and where you are currently at in the development process?