The transition to Futures trading

[pavilion103]

Might be more interest tomorrow when the Aussie market takes a hit. Not sure how many on this forum trade the overseas markets.

I've been interested in the progress of the Aussie market. I haven't traded the SPI recently, but noticed that a decent down move has been in play, prior to the European markets coming off tonight (and potentially the US).

The DOW looks toppy. Will be interesting to see how that goes over night.


Haven't been on the forum too much, but thought there would be a bit of excitement around now with some volatility.

 

[fiftyeight]

Wow

Feeling not ideal the past few days has not been ideal. If I would of captured any of it who knows, but it would of been good to see it happen live

 

[Newt]

I didn't online until the big move was 2 hours old alas. Took me a moment to comprehend the scale of the slide down at first

 

[CanOz]

OK. I'm excited enough to post a chart lol.

I actually just lifted my second contract. I planned to hold longer but I feel I need to be balanced. I can always re-enter in the coming days to capture a down move if it eventuates.
FWIW I still think it's headed down but I thought I'd take one off prior to the US session due to potential unpredictability.

Also looking at the FTSE daily chart, that is one HUGE bar. Just when you think it can't go lower it will, but it's a brilliant move captured in 24 hours. Happy to pocket the remaining half of the profit and let just the 1 run.

View attachment 59536

Hockey stick, watch for the short covering

 

[pavilion103]

Hockey stick, watch for the short covering

Well there we go.

I'm hoping that Tuesday's bar was wide enough that it won't be taken out.

Yesterday's action not unexpected.

I've still got the 1 running, stop is about 60 points away. Feeling less comfortable than when it was 130 points away.

We will see. If it falls from here it could be good.

 

[Trembling Hand]

TH - So your prop.. Residing in the sunshine state mate. Currently with AMP Futures but not really happy with there customer service or round turn rates considering I'm reasonably active within the market. So far the path has led to either X Trader, CQG or Jigsaw.

Yep - prop. I don't know what the best futs broker is at the mo. Think CanOz would be the one to ask. Lots of active traders hate IB but I never had any problems with them when I was using them.

 

[pavilion103]

This has been my best week so far.

I think it's something life.

MON - + 35
TUES - + 140
WED - (-10)
THURS - +50

CURRENTLY OPEN - +170 (stop has above high of yesterday, locked in 70).


Last night was interesting. I took one at around 86.5, stop 92. Good low risk setup. Because I had one running from earlier in the week I only bothered to take 1 last night. Should have taken another 2, but oh well.

Exciting times.

 

[>Apocalypto<]

last night was the biggest i been a apart of on the DAX enormous moves. took 20 but was scared out due to the size of my stops on most moves after 10pm Aussie time.

 

[pavilion103]

last night was the biggest i been a apart of on the DAX enormous moves. took 20 but was scared out due to the size of my stops on most moves after 10pm Aussie time.

Good work with the profit.

The DAX looks so much more difficult than the FTSE. I haven't had a crack yet.

FTSE I find it quite straightfoward with setups and price action is fairly clean and yet still moves enough to make good profit.

DAX seems a bit more choppy but if you can get on one BOOM!!

I was looking at it at the start of the week and wanted to have a crack because I figured, like the FTSE, it was going to head down. The risk was just too big for where I'm at right now.


In spots like this though I find the risk of holding is worth it once on and stop is at BE.

If you get in near the top and then have a week of price falling strongly it is HUGE. Especially on the DAX. Even 500 points is close to $20,000!!!

 

[>Apocalypto<]

Good work with the profit.

The DAX looks so much more difficult than the FTSE. I haven't had a crack yet.

FTSE I find it quite straightfoward with setups and price action is fairly clean and yet still moves enough to make good profit.

DAX seems a bit more choppy but if you can get on one BOOM!!

I was looking at it at the start of the week and wanted to have a crack because I figured, like the FTSE, it was going to head down. The risk was just too big for where I'm at right now.


In spots like this though I find the risk of holding is worth it once on and stop is at BE.

If you get in near the top and then have a week of price falling strongly it is HUGE. Especially on the DAX. Even 500 points is close to $20,000!!!

Hi Pav,

I hear what your saying. i have looked at the FTSE, but find the DAX moves harder, a lot of days you can have a one trade session and call it a night. but whatever your comfortable with.

some days i ask myself why i trade it! the DAX can be a scary market... it can change on a dime, chop up false push then reverse 20 to clean shop.

it's one for really watching till you see a nice set up with good value entry point. but i love it....

atm flat as a tack still coming to grips with last nights sell off.

 

[pavilion103]

Hi Pav, I hear what your saying. i have looked at the FTSE, but find the DAX moves harder, a lot of days you can have a one trade session and call it a night. but whatever your comfortable with. some days i ask myself why i trade it! the DAX can be a scary market... it can change on a dime, chop up false push then reverse 20 to clean shop. it's one for really watching till you see a nice set up with good value entry point. but i love it.... atm flat as a tack still coming to grips with last nights sell off.

Re-focus and don't miss the next one. This could easily push down from here!

 

[>Apocalypto<]

Re-focus and don't miss the next one. This could easily push down from here!

got ya.... quick buy then might wait till 5.... do u trade the pre LON hour?

 

[pavilion103]

got ya.... quick buy then might wait till 5.... do u trade the pre LON hour?

I trade from the open.

Usually stick around about 1.5-2 hours (if I get a setup to BE can even be 10 mins some days!).

 

[fiftyeight]

Short 6612

 

[tech/a]

Short 6612

Hmmm

 

[fiftyeight]

Hmmmmm indeed, stop is about to be hit........ bang

Some newb errors tonight. Missing moves early in the week and feeling I must trade tonight

 

[Jasonm2310]

Check out DOM on 6B!!!!!!!

 

[fiftyeight]

Had a good night last night, but missed lots of points as I needed to go to bed. Probably should of thought about this issue a while ago.

At least my newb lessons have been cheap..... so far

 

[pavilion103]

Closed last position for 330 points

 

[pavilion103]

Around 500 points for the past 2 weeks now.

A great run