The transition to Futures trading

[ThingyMajiggy]

Left a trade on last night when I went to bed on the dax with target orders at a certain point below...


....well that was close...

 

[pavilion103]

No good last night. Worst night in 2 weeks.

Position trades to the kingside from here I think.

Intra day = be more careful and take smaller wins off support and resistance.

 

[Trembling Hand]

lost 35 pips today. Better than yeterday at least

Or 35 ticks?

Ticks and or points for futures. Pips for the children trading FX.

 

[fiftyeight]

Hmmm, wanted to be short today on the SPI but all I am seeing is longs. Maybe I just trying to pick tops

 

[barney]

Hmmm, wanted to be short today on the SPI but all I am seeing is longs. Maybe I just trying to pick tops

At a glance ..... the 10% down moves have historically been areas of caution for Shorts ... except at the very tops .....

 

[fiftyeight]

Thanks Barney that gives some good context.

 

[pavilion103]

I don't trade the SPI often at all but am only using it now for potential position trades.

Today I thought was a good place contextually for a potential long.

Open looked good I thought. I got in at 5272 with a wide stop.

Stop now moved to 5267 with 5 points of open risk.

Let's see where it goes from here. A good place to be in IF it does take off to the upside.

 

[fiftyeight]

Managed a few points on the initial push up. Will use this for cautious short at 88.

Barney thinking about your chart, when these types of trends fail, is this where you can find bigger moves?

 

[fiftyeight]

Ooops back to the drawing board

 

[>Apocalypto<]

Or 35 ticks?

Ticks and or points for futures. Pips for the children trading FX.

LOL

TH the HK50 on IC just opened about 15-20 min ago is that right?

Anyway just took my first trade, trend break with a high break, Green line ent point... quick one out for 6ish points. will keep looking at her...

Dow was really moving on open last night... 20 point swings.

 

[pavilion103]

I'm holding. All or nothing position trade.

Tempting to take 40 points but not the plan.

 

[Trembling Hand]

TH the HK50 on IC just opened about 15-20 min ago is that right?

Errr not sure what that is? A HSI CFD? The HK futs open at 12:15 with the cash equities opening 12:30 Melb time.

 

[barney]

Managed a few points on the initial push up. Will use this for cautious short at 88.

Barney thinking about your chart, when these types of trends fail, is this where you can find bigger moves?

Howdy 58,

Based solely on the quick eyeball on the chart, I would need a larger than 10% dip to get real bearish. On top of that I wouldn't be shorting at the lows, I'd be waiting for the retest areas.

If it were Forex, I'd be looking at a couple of scenarios as per charts. Bear in mind I am still searching for my own edge in all this stuff, so treat my ideas as simply my ideas

Maybe TH or Sam can run an Excel test on something like .... If the SPI drops 9-10% from its highs, followed by a 60-70% retrace of the first down move ... what happens etc etc. Then maybe simply, if the SPI drops more than 10% from its highs, what happens etc.

My gut feel would be any moves greater than 10% would be an indication to start looking for Short entries on any bounces cause they may be dead cats .... particularly if the next up move is sharp and into new highs (red flag!) If it just grinds upwards slowly its likely heading back into a trading range.

Cheers.

 

[>Apocalypto<]

Errr not sure what that is? A HSI CFD? The HK futs open at 12:15 with the cash equities opening 12:30 Melb time.

IC open their CFD at 12:15 Melb Time, i would say they base it off the future. Just wanted to check with you. As you know it inside out.

TH the HK50 seems to charge then settle... I have noticed that last few sessions. normally it can have very wide short term moves? still watching it not sure if it's really do able on this 8 point spread CFD.

 

[barney]

not sure if it's really do able on this 8 point spread CFD.

Joe,

These are Axi trader and City Index synthetic HSI spreads.

 

[>Apocalypto<]

Joe,

These are Axi trader and City Index synthetic HSI spreads.

City are tight.

I miss my IB account.

 

[avion]

City are tight.

I miss my IB account.

Why did you give up your IB account?

 

[>Apocalypto<]

Why did you give up your IB account?

Hi Avion,

2011 I bought an Automotive parts supply business. Had to use the funds in my IB account for part of the payment.

Was trading trading CL mainly back then.

 

[avion]

Hi Avion,

2011 I bought an Automotive parts supply business. Had to use the funds in my IB account for part of the payment.

Was trading trading CL mainly back then.

All the best mate. Hope you get back your account soon.

 

[>Apocalypto<]

All the best mate. Hope you get back your account soon.

One day mate one day , i really miss book trader the most. nice to see BIDASK VOL around your entry idea points. not that was very good at reading it.

One of those open rally to profit taking on the spi today. looks like it's into the 50% point of the march up. DOW DAX rather flat before EURO hour