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The transition to Futures trading

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Next 1000 trades mate.

If those "wanting to learn from me" trade the setups in my playbook in the right context they will do very well for themselves.
 
Bit stiff on that newt I was watching that closely almost took it, will give my worthless 2c as to why I didn't tomoro.
Also took a short near where PAv did tonight so no good. Shame to miss a move like this!!
 
kid hustlr said:
Bit stiff on that newt I was watching that closely almost took it, will give my worthless 2c as to why I didn't tomoro. Also took a short near where PAv did tonight so no good. Shame to miss a move like this!!
Click to expand...

Tough one kid.
I liked my setup.
Would take it 10/10 times.
I guess the most challenging thing was when it wasn't falling like we expected to then reverse our thinking.
Shame given yesterday we were looking for longs at the start (and we're both in profit and out at BE).

My 94,90 miss was annoying. I had it entered in. By the time I went to place it it was at 97 and I wasn't prepared to risk that much. Not for that setup.
 
Kid, similar last night too in terms of the hedge opportunity.

For 3-4 points I don't think it's a bad idea when in an uncertain spot.

Trade on open would have been exceptional RR again btw.
 

fwiw you entered prior to a tl break on the pullback.

Your entry bar was the tl break, the brooks h2 entry was a few bars later.
 
Thanks for the support cave and others. Fair call re Brooks H2. Kid, I'd appreciate hearing your thoughts too if you do get time to write something later. Of course my entry looked a lot stronger when that bar was all green, but promptly reversed into a pin bar dropping back to trend line. It ain't really a bar until its finished painting.

Interesting the less steep trend line is still holding 3.5hrs later. Live and learn, next 1000.
Messing with the tick chart is something I've been trying over the last month and often find useful for shorter trades. Brooks himself said just learn to trade and focus one chart, whatever it is.

Have said before here, but appreciate the honesty on what works (and DOESN'T work as expected) from those here. Its refreshing and charts Pav and Tech have posted here last few pages are invaluable.

 
tech/a said:
Those lessons
What would they be?
Click to expand...

The lessons are
1. You never know when resistance wont hold, so trading short off resistance against the trend is a low probability trade, and the trend was clearly up. (break of trend line, higher lows, higher tops, Fib ratios, moving av...take your pick...and the daily is bouncing off the 200ma again, plus its holding a trend line)
2. When the market tells you your analysis is wrong, put your bias aside and trade what the market is telling you, especially when resistance is broken and then holds. Pav saw the trade but didnt take it. There was no technical reason to not go long once that resistance was broken.

Newt said:
Err, I can proudly announce my return to live trading today after a few months of trying to sim trade honestly, applying what I've read and watched. Lost $100 in 3mins.

1. Broke my personal rule ....
2. Got too excited......
Click to expand...

And thanks to Newt for a great example of why I always say SIM trading is a waste of time. As soon as he brought in real money, his emotions took over and he broke his rules. SIM just cant prepare you for that. Hope you get on top of the mind set quickly.
 
Newt,

Definitely don't beat yourself up over that trade. Firstly its a 5 point loss which is irrelevant in the grand scheme of things. Secondly, and more importantly, I think you summed up everything very well and were just a little trigger happy + unlucky.

I think if you look @ a 5 min chart this morning you'll kick yourself tbh. The 5 minute chart shows it much better and an obvious entry - just needed a fraction of patience.

tech has spoken about high volume areas + 'volume resistance/support' before and I think last night was a pretty good example of it in play.

FWIW, personally I'm spewing because I was looking for that trade, was observing those tight bars on the 3m (they were very tight/low volume @ one stage) and was getting trigger happy myself. Then it spiked up a little (your entry bar) and I pretty much turned it off immediately figuring it was probably just going to run from there and I was over it. The reason I didn't take an entry there was I just couldn't see one in the bars that I felt comfortable with. There was no obvious stop placement. If I'd hung around another 15 mins I'm 99.9999% sure I take that long on the 5m. It really is a classic tbh.

 
Beachlife would love to see your live analysis, like I've been doing in the thread for the past year.
 
An open trade @11 x 2 contracts
"Hedged" short @24 stop 28.5 x 2 contracts

Original 2 longs taken out @16 for total 10 points profit.

Now short the 2 contracts @24.


Hard to gauge market direction this the hedging.

Not as easy as some suggested. In an uptrend but the highs of 30-40 failed for now. Let's see how the night goes!
 
Now zoom out to hourly chart, expect 50% level to become support so set profit target at 9872. Risk now 0, potential profit 48 points. Off to watch TV.

 
Sounds a little Frank Dilernia'ish, Beachlife, looking for trend out from 50% levels?
 



Cheers kid,

Really appreciate your time writing this up. So helpful to pick through someone else's reasoning for a price region you've been dissecting yourself. Great way to find techniques that might resonate. Appreciate particularly the comments on taking time to think through the defensive risk choice - I really should be running the R/R sums in my spreadsheet more frequently if not every time.

Encouragement greatly appreciated too
 
Duckman you must be loving being short right now.

I finally got on one of these!

exited too early though by the looks of it, huge sweep in the FTSE then! looked like a 500 lot order, wooshga!
 
Taken off one on the push down to 85.

Up about 45 with one in open profit of 35 points
 
Shot this off to PAV see time stamp

Closed it just then see chart





Im out of all positions now.
Was stopped on my long term play for 200 ticks last night now this play exited.
Been good.
 
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