The transition to Futures trading

[cynic]

Huge gap up on DAX

Low three figures, huge for those heavily leveraged in the short direction perhaps, but as far as the DAX goes - nahhh!!! I've seen bigger!

 

[pavilion103]

This is my position trade.
Happy to finally nail one like this.
The intention next time at a really good spot is to take two contracts for the big move (and then additional for intra day trading).

 

[pavilion103]

The exit coincided with:

1) Some huge volume coming in
2) At a support line which I drew in from the start of the year.

The down move looked exhausted (for now at least).


I almost took a long at 6460ish on Friday but I was actually away and didn't want to put a stop 20 points away. My thoughts were that this looked like an obvious place to spring up from. Wish I had now

I'm looking for longs now. Hoping I can get on a position trade to the long side but mainly trade intra-day.

Might need some consolidation first. We will see.

 

[pavilion103]

Also a little frustration last week despite the profit.

1) Wednesday (I think) got in at 6620 and stopped by 2 points.
2) Thursday got in 6520 and stopped by 2 points.

Based on my exit on the position trade that was

1) 180 points
2) 80 points

260 points almost made

 

[pavilion103]

Long @ 6519.

Considered adding a second @ 6517 after it took out the 6515 mini low.

But 9 point risk on the initial position is large for me. I didn't want to roll the dice on a second.

Not even 100% confident on the first one, but in a decent spot and worth the risk for the upside potential IMO.

We will see.

 

[CanOz]

Nice trade Pav, good to see you finally nail a big move.

 

[pavilion103]

Nice trade Pav, good to see you finally nail a big move.

The frustrating thing for me is that I've nailed the entry 2 or 3 times in that spot but always failed to hold.

Hopefully this gives me confidence in the future to do the same as I did this time when necessary.

Holding one through those big moves certainly eliminates the noise and it's a good feeling to always have one moving in your direction without you having to do anything.

 

[CanOz]

The frustrating thing for me is that I've nailed the entry 2 or 3 times in that spot but always failed to hold.

Hopefully this gives me confidence in the future to do the same as I did this time when necessary.

Holding one through those big moves certainly eliminates the noise and it's a good feeling to always have one moving in your direction without you having to do anything.

Yeah, I'm not as stuck on trends as I used to be but it is mighty satisfying when you get that much of a move in the bank. Sort of like striking the sweet spot on a three iron.

 

[Wysiwyg]

Long @ 6519.

Considered adding a second @ 6517 after it took out the 6515 mini low.

But 9 point risk on the initial position is large for me. I didn't want to roll the dice on a second.

My December data has that low as 6511?

 

[pavilion103]

My December data has that low as 6511?

6515, I didn't mean the low of the day. Simply looking at the one minute chart after the entry as price pushed down.

Yes. 6511 is the low. I had my initial stop 2 ticks below this.

 

[Wysiwyg]

Yes. 6511 is the low. I had my initial stop 2 ticks below this.

Roger that. They missed you with the left jab that time.

 

[fiftyeight]

Long 6515

I got very lucky over the weekend and was let off lightly. I probably wont be so lucky with another stupid mistake

 

[subterfuge]

DAX so far for me today. Down about 50 ticks.
Short again here. HOpefully this one works out to get some money back

 

[subterfuge]

damn. They stopped me again. About max loss for the day down about 80 ticks. Hopefully get some luck tomorrow

 

[>Apocalypto<]

DAX so far for me today. Down about 50 ticks.
Short again here. HOpefully this one works out to get some money back

have you been trading the DAX long? for a while it would reward me then ruin me. started to think it was way to hard... now i wait for moves to prove. dont try to get in on lows or highs. few times i was really cut to hell.

main issue for me atm is my holding get panicked out to fast on normal DAX movements while in the trade.

she's a beast at times.

 

[fiftyeight]

Out at 6543

 

[pavilion103]

Good one.
I wasn't on for the obvious setup at 6511.5, 6503.5 which I would have taken.

I was down 5 points last night.

I won't be too aggressive here.

Waiting for it to settle and give me some clear support and resistance to trade off.

 

[CanOz]

How many Dax traders here get the daily Eurex newsletter I posted on here a couple times? It said yesterday was a slow news day and it was a Monday after NFP. Bearing in mind where the market opened, you had to be thinking inside rotational day rather another's trend day, at least until the US opened. Given all this, would it be better to trade with less risk on Monday's with no news and save the ammo for another day?

All great in hindsight I know, but Monday's are known to be quiet and that's been mentioned allot on ASF.

 

[Trembling Hand]

How many Dax traders here get the daily Eurex newsletter I posted on here a couple times? It said yesterday was a slow news day and it was a Monday after NFP. Bearing in mind where the market opened, you had to be thinking inside rotational day rather another's trend day, at least until the US opened. Given all this, would it be better to trade with less risk on Monday's with no news and save the ammo for another day?

All great in hindsight I know, but Monday's are known to be quiet and that's been mentioned allot on ASF.

Starting with the right plans is a very underestimated edge.

 

[fiftyeight]

Wow, short on the SPI at 72 with a stop now at 32. By far my best attempt