The transition to Futures trading

[fiftyeight]

Work got busy and I messed up my exit. Out at 13

 

[pavilion103]

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

Far out! What the heck is going on with the Aussie market recently.

Good work 58. That is an impressive effort.

Cannot believe how much this has moved recently. I'm spewing. I considered taking a position trade at 5,597 on the 10th September. I remember the exact number! GRR.

This, along with the FTSE trade I profited on, really makes me see how beneficial it is to pull the trigger in those spots. The RR is MASSIVE.

I was also looking at the DAX on 22nd September at around 9800 at what looks like a little false break at previous resistance. I couldn't justify 100 points risk ($3,700?).

Part of my strategy going forward is to pull the triggers in those spots. If I'm making a lot of points in between, I can afford to risk a little more to get on at the top/bottom of a good move. This HAS to be the strategy.


FTSE position trade made about $6,000 I think.
SPI one would be up around $10,000.
DAX one would be up over $20,000.


This is so exciting.

I need to be looking at these types of trades across these markets.

Would have been more than happy to have lifted all of them now. Even if further downside movements are ahead.


The best thing is that these aren't all hindsight moves. They are there to be seen in real time, with proper contextual analysis. It is simply a matter of incorporating it into the strategy and being willing to take the risk in those particular places. Sometimes with good, low risk setups (e.g. my FTSE one was 5 points risk and it took off from an intraday trade and I left it) but sometimes needing to take a little more risk with profits made at other times.

 

[CanOz]

Work got busy and I messed up my exit. Out at 13

So was that a 1:1 risk to reward?

 

[fiftyeight]

Yeah just about. Give or take 50 points

 

[pavilion103]

Have I missed the joke?

 

[fiftyeight]

Haha maybe I am missing something as usual. My initail risk was 5 points. No way would I risk 60 points.

I have a plan this arvo if im free and there is another smaller push down. Lets see what happens

 

[pavilion103]

Haha maybe I am missing something as usual. My initail risk was 5 points. No way would I risk 60 points. I have a plan this arvo if im free and there is another smaller push down. Lets see what happens

That's what I thought.
I didn't know what he meant by 1:1 RR

 

[CanOz]

That's what I thought.
I didn't know what he meant by 1:1 RR

Ahh sorry, my bad. I don't have a chart so I thought your initial stop was 60 odd points away from your entry...

 

[pavilion103]

Short 1 contract @ 6526 in the first 30 seconds of trading with an initial 6 point risk. Felt I needed to get in very aggressively. It was too risky to take 2 for me. Wish I had as price smashes down!

 

[pavilion103]

Added a second @ 6506, stop 6511.5

An aggressive addition but I think worth it in this spot. We'll see.

 

[kid hustlr]

Really strange open? TH do you see that very often, 4 very similar volume bars on the open quite rare??

 

[fiftyeight]

Nice work. Misssed the open unfortunately but not sure I would of got on anyway. Now short at 96.5

With your postion trade how did you handle the bigger moves against you?

 

[pavilion103]

1st closed for 30 points.

2nd running with stop at BE.

 

[CanOz]

quietly watching the DAX trap some shorts...

 

[pavilion103]

Nice work. Misssed the open unfortunately but not sure I would of got on anyway. Now short at 96.5 With your postion trade how did you handle the bigger moves against you?

Not sure what you mean?
I closed out of my big position trade the other day.
I've always got fairly specific things in mind that I look for in terms of exit. If not I told. Not too much thinking involved.

 

[ThingyMajiggy]

quietly watching the DAX trap some shorts...

It's killing me, these swings are doing my head in, although I do have no idea what to expect, half expecting it to run but keep getting screwed when I try and jump on. Always the wrong way

 

[pavilion103]

Really strange open? TH do you see that very often, 4 very similar volume bars on the open quite rare?? <img src="https://www.aussiestockforums.com/forums/attachment.php?attachmentid=59723"/>

I noticed this too. Not sure I've seen it before!

 

[fiftyeight]

Yeah that was not very clear sorry. The chart you posted yesterday, it had a move against you of 75 points I think.

 

[CanOz]

Well there was your chance Sam, now you can get it on the break or the retest...

 

[ThingyMajiggy]

Well there was your chance Sam, now you can get it on the break or the retest...

Ahh I just don't know how to trade days like these, just always seem to be wrong and chasing my tail. Looks like its going one way, enter, get slammed, stopped out, waaaaaaaaah