The transition to Futures trading

[pavilion103]

Interesting XAO chart.

An unfortunate week for me.

Identified the support area very well.

I had a couple of losses early on the week and it spooked me out of a regulation entry on open (7 point risk). In fact, the entry was texbook for the setups I have been analysing. Psychology wasn't right this time

I'm very interested to see if this now breaks out fo the upside.

 

[subterfuge]

You ever trade Dax, Pav?
I'm getting my ass handed to me most days, lol. Losing 32 ticks so far today.

 

[subterfuge]

L 10028 - STOP at 10018

 

[MikeRR]

Interesting XAO chart.

An unfortunate week for me.

Identified the support area very well.

I had a couple of losses early on the week and it spooked me out of a regulation entry on open (7 point risk). In fact, the entry was texbook for the setups I have been analysing. Psychology wasn't right this time

I'm very interested to see if this now breaks out fo the upside.

View attachment 58556

Pav,

Looks like pretty average volume approaching the upper boundary/ resistance which has rejected prices very regularly. That coupled with the absence of the US markets providing no influence or support may see you get a second chance if it probes back down to the lower boundary. That would complete 5 internal swings in the triangle too.

Cheers

Mike

 

[MikeRR]

You ever trade Dax, Pav?
I'm getting my ass handed to me most days, lol. Losing 32 ticks so far today.

Hi Sub,

What's your approach? Have you identified the problem to work on?

cheers

Mike

 

[pavilion103]

Short SPI - 5479.
Thinking a bit of a longer play here if this looks like the top (and I don't get taken out today!).


Not much posting in this thread, so I think I'll move all my FTSE posting back into here now too.

I only moved it because the thread got a bit hijacked lol.

 

[pavilion103]

Stayed in for most of the day.

Closed out for 10 points profit 15 minutes before close.

If a half-decent push down occurs it will need to re-test the highs anyway.

 

[kid hustlr]

pavvy I took that 79 short but got taken out @ b/e on the retrace. need to talk to u about how u manage risk in those spots I assume u just use high of the day and im an idiot but remind me to ask u next time we chat

 

[kid hustlr]

p.s classic case of 'we should still be short from y/d'

 

[pavilion103]

Yesterday was costly for me.

Very very silly.

Taken out by 1 tick with a stupid trail stop.

Would have certainly held and it been up about 70 points right now.


Tonight I did well and closed out at a bit of a support level.

Because I'm not holding from the yesterday's top I'm not going to hold overnight.

Tonight standard play. Panned out perfectly.

 

[pavilion103]

You ever trade Dax, Pav?
I'm getting my ass handed to me most days, lol. Losing 32 ticks so far today.

Just saw this sorry mate. Haven't been on here much.

Last few months I've been saving the intra day 3 minute chart for DAX to study closely.

I'll tackle it at some point, maybe closer to the end of the year.

 

[pavilion103]

pavvy I took that 79 short but got taken out @ b/e on the retrace. need to talk to u about how u manage risk in those spots I assume u just use high of the day and im an idiot but remind me to ask u next time we chat

Mate, so sorry I had to closed Skype before when you messaged.

I've got my 8 and 9 year old cousins over and they wanted me to play FIFA!

I had set my trade already so just let it run and went and played.

Tonight seriously took up about 30 minutes of my time.
This is a brilliant way to trade.


WHEN THERE IS A CLEAR TREND in place, the entry is the time to go super aggressive IMO.
79 was my entry too.
Stop above the high.
You almost have to just roll the dice and cop the 7 point risk there.
Price moved 40 points before my exit listed above.
That means I only have to get it right one in every 7 times approx to break even - 14%!!!!!!

Trades on open are gold WITH THIS CONTEXT.

 

[subterfuge]

Even a broken clock is right sometimes!
Used up all my luck today.

 

[Newt]

Work has wiped me out for much of the last 2 months, but I've been back sim trading the FTSE in NT7 for the last 5 sessions. Forcing myself to document and take good trades, but to be honest glad its sim. Small losses or break evens most nights.

I had hoped to go live with a dozen or so winning sim nights under my belt, so will keep trying. At least I don't have to be overly optimistic at my sim results!

Glad to see your still posting and sharing regularly Pav.

 

[pavilion103]

OUCH!!!!!

 

[pavilion103]

Gee, not holding the SPI trade from yesterday was another costly blunder.

I'd be about another 50 points to the good right now.


I'm doing all the difficult stuff well, then I'm messing it up.
Walking away from the screen and turning it off is a good idea once my work is done!

 

[pavilion103]

Two cracks at the SPI open.

First one obviously failed - 10 point loss.
Second one - short at 33 stop to BE.

Took some courage to take a second crack.

 

[pavilion103]

No idea how to trade FTSE from here either.

Having missed the big move I'm not sure it will just smash down in the next day or two.

I prefer to trade with confidence of the overall direction and then go from there.

 

[pavilion103]

Closed out for 24 points on that last SPI trade.

FTSE time!

A few thoughts. 6660 to find support very short term? Or this to smash through? Who knows

 

[pavilion103]

Short in first 5 minutes @ 6687 stop 6692.
Stop now moved to 6689.5.