The transition to Futures trading

[beachlife]

What's everyone's theories on the opening shenanigans on the DAX like so, big whip saw, it often does this on the first few bars when cash opens. How can you possibly pick a direction out of that, constant whipping from one extreme to the other

Adjust your price scale. I like a 10 point grid.

 

[ThingyMajiggy]

Adjust your price scale. I like a 10 point grid.

View attachment 58673

That's not the point though, they are decent swings(in the range of 30-40 ticks, which is considerable with the $/tick of the Dax), rather than making my chart better to view, I'm more interested in if/how anyone takes advantage of these initial violent swings.

 

[beachlife]

That's not the point though, they are decent swings(in the range of 30-40 ticks, which is considerable with the $/tick of the Dax), rather than making my chart better to view, I'm more interested in if/how anyone takes advantage of these initial violent swings.

Unless you can pick tops and bottoms you will never get the 30 points from those swings on the open. But there was just an easy 30 points to be taken out of a 50 point move.

 

[tech/a]

Bread and butter short term trading Sam
It's simply a test of resistance clear as a bell on shorter timeframe
Charts. I'll post up a DAX chart on tonight's action.
I'm still longterm short so not watching it.

 

[ThingyMajiggy]

Unless you can pick tops and bottoms you will never get the 30 points from those swings on the open. But there was just an easy 30 points to be taken out of a 50 point move.

View attachment 58675

Yeah was on that, it's not so bad once it gets going, just that initial flurry of activity on the cash open, a lot of prop guys would jump in straight on the open, which amazed me, how can you have any idea which way it's going to go. Surely there's some to be had with those initial swings though.

Bread and butter short term trading Sam
It's simply a test of resistance clear as a bell on shorter timeframe
Charts. I'll post up a DAX chart on tonight's action.
I'm still longterm short so not watching it.

Shorter than a 3 minute chart? Explain, not clear as a bell for me, just looks like all huge equal length bars with just as strong volume as each other, looks like a shakeout after shakeout with no way to tell which way it will fire off in, and it will fire off in one direction, nearly always does.

 

[tech/a]

A couple of charts for you.
9 min DAX

 

[beachlife]

A couple of charts for you.
9 min DAX

What does any of that have to do with trading the first 15 mins of the day?

 

[Wysiwyg]

I can't believe this bloke has progressed so little in regards to trade knowledge. Wants to punt the open noise.

 

[kid hustlr]

jeepers nice little head fake there on the FTSE. I was short and loving it and it all turned pear shaped very quickly! out @ b/e!

 

[tech/a]

What does any of that have to do with trading the first 15 mins of the day?

The test of the high on initial volume failed.
set up the rest of the move so far.

You don't trade much do you B/L?



Remember just about EVERY support and Resistance level is tested.
How price reacts at the test gives you information for price action going forward.
The high of this latest pullback is being tested RIGHT NOW.

Decreasing volume toward the high is indicating this is likely to fail and more than likely RANGE.

Update.
Supply has been proven to have dried up.(At these levels)
Price moving easily through resistance to test the Opening levels.
How it reacts here Higher high or higher low will set the range for the night.
When volume returns we will see if the effort gains results.
Supply will return at some level before or at the top.
That is what we need to analyse as this is a stronger resistance level.

 

[Newt]

Guys, for anyone trading AMP Futures/NT7/CQG, can you help me get my head around the profit values and what currency they're displayed in?

For example, AMP Futures says for FTSE 100 futures (Z), each Pt is 10 UK pounds (about $18.30 AUD).
The AUD I've deposited at AMP look like they're appearing in my account in US dollars.

When I look at the Account Performance tab in NT7 (Trades tab) the profit and Cum. Profit can be shown in Points, Percent or Currency. Points is fine, but Currency seems to show $10 for each Pt profit and loss.


Is that right, or is there a setting for me to see profit/cum. profit in US dollars or AUD?
I gather the "$10.00" value I see may actually be "10 UK Pounds"???


Appreciate explanation from anyone I haven't totally confused!


EDIT: I gather if I adjust the Instrument Manager I can put in whatever US or AUD value I like, rather than $10? Would still be curious to hear what any experts here do?

 

[ThingyMajiggy]

I can't believe this bloke has progressed so little in regards to trade knowledge. Wants to punt the open noise.

When did I say I wanted to punt the open noise? Just curious if anyone did and how, because I know that some prop guys used to do it, so there could possibly be something there, plus wanted to see what the volume boys had to say about it, if anything, or if it was just that, chop and noise.

Funny how there's a thread saying don't be scared to post elsewhere in the forum, then you get stupid assumption attacks like this crap when someone does ask a question, no wonder people shy away. Answer the question, contribute or zip it

 

[tech/a]

Important action

 

[tech/a]

Guys, for anyone trading AMP Futures/NT7/CQG, can you help me get my head around the profit values and what currency they're displayed in?

For example, AMP Futures says for FTSE 100 futures (Z), each Pt is 10 UK pounds (about $18.30 AUD).
The AUD I've deposited at AMP look like they're appearing in my account in US dollars.

When I look at the Account Performance tab in NT7 (Trades tab) the profit and Cum. Profit can be shown in Points, Percent or Currency. Points is fine, but Currency seems to show $10 for each Pt profit and loss.


Is that right, or is there a setting for me to see profit/cum. profit in US dollars or AUD?
I gather the "$10.00" value I see may actually be "10 UK Pounds"???


Appreciate explanation from anyone I haven't totally confused!

Id say it would be in the base currency of the bourse in which your trading.
If its UK then Pounds

When did I say I wanted to punt the open noise? Just curious if anyone did and how, because I know that some prop guys used to do it, so there could possibly be something there, plus wanted to see what the volume boys had to say about it, if anything, or if it was just that, chop and noise.

Funny how there's a thread saying don't be scared to post elsewhere in the forum, then you get stupid assumption attacks like this crap when someone does ask a question, no wonder people shy away. Answer the question, contribute or zip it

Sam I hear you and I think sometimes I and others get frustrated by the repetitious questions---which Ive seen answered many times.
BUT you've explained yourself and I hope I've helped a little..



Early morning so off to bed.
Enjoy the action.
Fat fingers seem to be winning!

 

[Wysiwyg]

Funny how there's a thread saying don't be scared to post elsewhere in the forum, then you get stupid assumption attacks like this crap when someone does ask a question, no wonder people shy away. Answer the question, contribute or zip it

I said to look at higher time frames. Trend and patterns are easier to see. BUT and it is a big but, your posts exude ignorance and you shall continue seeking the market open profit making solution.
There are some people who no matter how much time you give them to answer a question will remain ignorant. You see, it is part of their personality.

 

[beachlife]

What's everyone's theories on the opening shenanigans on the DAX like so, big whip saw, it often does this on the first few bars when cash opens. How can you possibly pick a direction out of that, constant whipping from one extreme to the other

View attachment 58671

This was why I thought Sam wanted to trade the open...not me. I personally dont trade intra day on the dax, I have two running scripts that do that for me. I was just curious when tech said he was going to show how it was a bread and butter trade.

 

[Newt]

Id say it would be in the base currency of the bourse in which your trading.
If its UK then Pounds

Thanks Tech

 

[ThingyMajiggy]

I said to look at higher time frames. Trend and patterns are easier to see. BUT and it is a big but, your posts exude ignorance and you shall continue seeking the market open profit making solution.
There are some people who no matter how much time you give them to answer a question will remain ignorant. You see, it is part of their personality.

Yes I know trends and patterns are easier to see in higher time frames. I was asking if anyone plays the open noise and if anyone can "see" anything in it, because it seems nuts to me, I was just having a go at it on sim, because I remember some prop guys doing it. I was more curious to see if there was anything in it from the volume perspective.

It's called discussion, seeing as this is a discussion board. Not implying I'm trying to play the open noise, or that it's my entire strategy and it's not working, hell I'm not even trading at the moment, only playing around on sim, always wondered about people playing the opens, hence why I initiated this discussion

Answer it or don't answer it, doesn't bother me. Just don't have silly remarks like you did before, which makes people not want to post anything at all. Especially when you are "just another amateur trader".

 

[ThingyMajiggy]

Sam I hear you and I think sometimes I and others get frustrated by the repetitious questions---which Ive seen answered many times.
BUT you've explained yourself and I hope I've helped a little..

My apologies, didn't realise someone had asked about the noise on the Dax open before.

And yes, thanks tech

 

[kid hustlr]

FWIW I think its worth the time and effort trying to learn how to punt the so called 'noise' in the first 30 mins Sam.