The transition to Futures trading

[pavilion103]

Only you PAV

I find that hard to believe. Trending market like this.

US session is huge now!

I see the DAX potential too!

A 10 point setup on open that I took on the FTSE would be up $6,000. I'm mind blown.

 

[payday]

Surely someone else is on here making some money!!!!!!!!!!!!!

Guilty - but over in the commodities - crude and copper for me have been a LOT of fun

 

[cynic]

I find that hard to believe. Trending market like this.

US session is huge now!

I see the DAX potential too!

A 10 point setup on open that I took on the FTSE would be up $6,000. I'm mind blown.

Some of us trade different angles.

Tonight I opted for early termination of my grail and three geese. Every one of my active accounts somehow managed to take a thorough hammering this week! I was copping it from all directions!

Having endured the unpleasantness of sizable gaps in the past, the mere thought of allowing my exposure to remain open over the weekend was thoroughly shaking my resolve, so termination seemed to be the better option.
(However, some small exposure on two of my geese remains until the relevant exchanges reopen next week).

FTSE it! FTSE it!! FTSE IT!!!

P.S. Well done to those on the other side of my trades this week!
(Please don't spend it too soon, as I expect that I'll be recovering it from you in the not too distant future.)

 

[pavilion103]

This is what I wrote to kid in an email this morning:

Bit annoyed.
I lifted the first one for 35. I only made about the same on the second one!
I (maybe) stupidly left the second one all night in the hope that the US would have one more day where it smashed down.
I was up 120 or so at one stage.

SPI I made $1,400 yesterday but I could give it all back. I don't like trading it much so I figured I'm in this for a position trade. If this is the top and my stop holds I make thousands. If not, no loss.

So although up around $3,500 at one stage, I might only end up with low $1,000s.

 

[kid hustlr]

tech did you say at one stage there was a 'mini ftse' type thing or am I just making that up?

Would be perfect for me if I wanted to hold past intra day time frames.

 

[tech/a]

tech did you say at one stage there was a 'mini ftse' type thing or am I just making that up?

Would be perfect for me if I wanted to hold past intra day time frames.

I'm pretty sure there is an emini

 

[barney]

tech did you say at one stage there was a 'mini ftse' type thing or am I just making that up?

Would be perfect for me if I wanted to hold past intra day time frames.

Hi Kid, I might be misinterpreting what you are after, but maybe a CFD provider will give you the flexibility your are after as opposed to full Futures contracts which you are currently trading??

$1 per tick gives you a lot of room to scale in/out over wide price ranges ... If that is not what you were getting at, my apologies

 

[kid hustlr]

I'm pretty sure there is an emini

Hi Kid, I might be misinterpreting what you are after, but maybe a CFD provider will give you the flexibility your are after as opposed to full Futures contracts which you are currently trading??

$1 per tick gives you a lot of room to scale in/out over wide price ranges ... If that is not what you were getting at, my apologies

Yeah this would have to be the go I think. Ta.

 

[pavilion103]

31/07/2014 - Thursday night - exited this one early



01/08/2014 - Friday night - aggressive trade on open. Not the exact one that I took but a "cleaner one"
I took mine at 70 and 65 I think.

 

[VSntchr]

Nice work PAV. It is very clear that these are the types of markets your trading is built for.

 

[pavilion103]

Been a bit busy. Lack of updates.

I exited the SPI contract (probably stupidly).

Going away on Friday until Tuesday. Going to see Cats play Fremantle.

 

[pavilion103]

Came into the night 25 dow for the week.

Took 2 x 35 profit tonight.

The lost 10 on a long as support.
Went too early.
Should have waited for the retest. Could have been a good trade.

Finished 60 up. Turned it off.

 

[pavilion103]

It looks like price may have found some sort of support in some of these markets.
Downward momentum has been halted for the minute by the looks of it.
It will be interesting to see if we get further consolidation now and then possibly a bit of a push up.

I'm more inclinded to look for longs from this new "base" now for the minute.

 

[pavilion103]

Why the heck did I sell my SPI contract with no sign of bullishness??!!

This is so disappointing. Nailed the entry.

Market now looks terribly weak.

 

[tech/a]

Long on anticipation that this will become a pivot
8974
Stop at B/E.

 

[tech/a]

Taken out at B/E over night. (By 2 ticks)
Pity this is going to be a good move
and I was right (I suspect) about that pivot!

 

[Evolve]

Cheers Minwa and Pav, really appreciate the responses.
I'm letting some of my shares run a bit more and building up some more cash while trying to make my own strategy/trade plan but will hopefully get started in a few months.

 

[barney]

Never try and take a trade as a hedge..................... EVER!

No reason for posting this up other than I logged back in to ASF, clicked on Pav's thread ... and this post of TH's was on the screen ....

I thought to myself ... firstly, I miss his "matter of fact" posts .....

Secondly, I recall recently Pav, that you were taking some "hedge" trades ( I have been guilty of doing the same thing), and I would be interested in TH's further opinions on his above point (if he were still around).

My guess is he is so specific in his trading that he is either long or short, and nothing in between ..... if only we could all be that sure of our position!

Anyway, just thought I'd bring it up Pav as it's your thread, and the great TH suggests hedging is a no no ..... and he is someone I would always take notice of

Have you formulated an opinion on your hedging experience at this stage? .........

I have noticed with my trades, that the moment I hedge, the trade tends to go the original direction I had originally anticipated, and it ends up getting me into more trouble .... therefore I see TH's point!

 

[pavilion103]

Long on anticipation that this will become a pivot
8974
Stop at B/E.

I missed this post.

I've been trying to get on the long side this week too. Didn't nail a bit one.

A couple of premature exits. Last night got on a good one.


Good spot in regards to the pivot Tech. Great place for a long.

 

[pavilion103]

No reason for posting this up other than I logged back in to ASF, clicked on Pav's thread ... and this post of TH's was on the screen ....

I thought to myself ... firstly, I miss his "matter of fact" posts .....

Secondly, I recall recently Pav, that you were taking some "hedge" trades ( I have been guilty of doing the same thing), and I would be interested in TH's further opinions on his above point (if he were still around).

My guess is he is so specific in his trading that he is either long or short, and nothing in between ..... if only we could all be that sure of our position!

Anyway, just thought I'd bring it up Pav as it's your thread, and the great TH suggests hedging is a no no ..... and he is someone I would always take notice of

Have you formulated an opinion on your hedging experience at this stage? .........

I have noticed with my trades, that the moment I hedge, the trade tends to go the original direction I had originally anticipated, and it ends up getting me into more trouble .... therefore I see TH's point!

I'm glad you posted this. Very glad.

I am very much leaning towards this thinking now also.

I have found that analyzing market direction is my strongest point.
My biggest weakness that creeps in is thinking that I have to nail almost every move. Because of this flawed thinking and lack of perspective, I have incorporated the hedge.

It distorts the initial (correct) analysis.
I start seeing things that aren't in the chart because I'm in a "hedge" trade.
It causes confusion.
Not only does it cost me precious points, but it also often causes me to reverse my thinking and exit my good trades in the opposite direction!


Another cause of this confusion is watching the screen too closely.
For me, I trade best when I do my analysis, back my position, take my trade, move stop to BE and then WALK AWAY and set alerts or profit take orders.

I'm amazed at how often watching the screen too closely costs me. I start second-guessing and that's when I look for a hedge trade that isn't there.

Last night, I took a trade in the first 10 minutes (I think 3 minutes actually), and I went and had a nap, set my alerts and checked the trade about an hour later to see that it was well in profit. Had I remained at the screen, I likely may have thought the first "stalling" of the move was signalling that price was about to come off and then put on a stupid hedge.