The transition to Futures trading

[PinguPingu]

Damn, the SPI is like the little engine that could today.

 

[Trembling Hand]

Ooops
22885

That is, unlike the very rare straight running chart I posted the other day, is why I don't normally buy or sell the break.

Stopped.



Although it got there in the end.

 

[dlineinvestor]

Don't mention the SPI ...
I was up a lot then got caught in this box (trading range) PLUS it was the pivot point area
Never again anyone ... learn from this one if u don't already know it. Stay out of these areas
Still in slight profit but argggg.

 

[tech/a]

Think I got my trade in!----

Ok Thanks for the chart I don't Have R/T.
I can see other trades after my stop out.
But that's trading.

I think I got my B/E stop in.
IE Traded to 42 took trade then to 52 then to B/E.

Can you have a look?

 

[dlineinvestor]

Don't mention the SPI ...
I was up a lot then got caught in this box (trading range) PLUS it was the pivot point area
Never again anyone ... learn from this one if u don't already know it. Stay out of these areas
Still in slight profit but argggg.

Never give up ... caught this with a hefty size
What gave me the indication it would pop upward was counting candle types on 15 min (bull vs Bear)and noticing higher lows as trading range moved along !
Sometimes you just have to be patient ... "Correction ALL the time !

 

[Trembling Hand]

But that's trading.

Yes. Yes it is!

The way I play it is buy the support let a little go in the red zone and hope to get a chance to build up more and more until the target is hit. That way I have booked some profit even if it comes back on me. If it doesn't give me another chance well then thats just trading. And it is another day I'm right but make not much... which is also just trading. But what I am trying to do is get an idea (today bullish), get larger term S/R for targets and stop on the initial idea, build a position throughout the session by playing the smaller timeframe charts and hope I can build to full size before it gets to my target.

Today is has been about as perfect a day for that.

 

[tech/a]

Yes. Yes it is!

The way I play it is buy the support let a little go in the red zone and hope to get a chance to build up more and more until the target is hit. That way I have booked some profit even if it comes back on me. If it doesn't give me another chance well then thats just trading. And it is another day I'm right but make not much... which is also just trading. But what I am trying to do is get an idea (today bullish), get larger term S/R for targets and stop on the initial idea, build a position throughout the session by playing the smaller timeframe charts and hope I can build to full size before it gets to my target.

Today is has been about as perfect a day for that.

View attachment 59870

OK

I agree this is excellent trading. I like it.

Now Questions

(1) How far into the blue do you allow further tests before you off load original long orders?
(2) How do you determine when you'll book some profit when it starts coming back on you.
IE how far back does it have to come. I note not far enough in the first and second pullback
infact the second becomes a new buy area.

 

[Trembling Hand]

OK

I agree this is excellent trading. I like it.

Now Questions

(1) How far into the blue do you allow further tests before you off load original long orders?

Until I spew up the order . It can go through it a good bit. In spite of the nice straight boxes my S/R are more about time and a bit more dynamic than a static line. I'll still hang on if I think the original idea is still ok. Unless it absolutely blows through I'll try and wait to see how the next wave up acts.

(2) How do you determine when you'll book some profit when it starts coming back on you.

No I don't wait till it comes back I have orders sitting that will get taken out on pushes up, kinda where people will be entering breakout trades.

I note not far enough in the first and second pullback infact the second becomes a new buy area.

That was just the nice setup today. normally its far more messy.

 

[pavilion103]

What are people's thoughts on the bigger picture?

Does last night's action look like it could make this a point from which prices bounce a little. The DOW looks almost like a shakeout type bar.

FTSE not so much. Tonight's action will be important.

I wonder if it pushes down a little to test the lows and then pushes up.

I don't know. I'm treading with caution particularly following the action on the US last night.


Any other thoughts?

 

[skyQuake]

I thought last night's action in the US was very bullish.

Gap down and start to rally, everyone gets suckered in. Then it makes FRESH LOWS - everyone gets stopped out. Before the final 'real' rally.

 

[CanOz]

Until I spew up the order . It can go through it a good bit. In spite of the nice straight boxes my S/R are more about time and a bit more dynamic than a static line. I'll still hang on if I think the original idea is still ok. Unless it absolutely blows through I'll try and wait to see how the next wave up acts.


No I don't wait till it comes back I have orders sitting that will get taken out on pushes up, kinda where people will be entering breakout trades.


That was just the nice setup today. normally its far more messy.

After the last five years of posts, I have finally got the confirmation I was looking for...you're doing pretty much what I thought you were doing in the HSI, starting with a small core position and working up the size and getting more aggressive as it goes your way....I'm satisfied now.

 

[kid hustlr]

Tech/A I'll post charts on the weekend and you'll see we are on the same side of the fence. I don't disagree with any of your comments. The point I ultimately want to make (and altho I only scanned the posts above quickly I think it already has been) is that if you think its going to break you need to be on before it breaks. ticking new lows and highs is a good way to go broke.

I recall you posted an excellent walk through example of a stock some months back, in the congestion zone you spoke about taking trades at the highs/lows ANTICIPATING the next move. That's good winning trading.

 

[dlineinvestor]

Tech/A I'll post charts on the weekend and you'll see we are on the same side of the fence. I don't disagree with any of your comments. The point I ultimately want to make (and altho I only scanned the posts above quickly I think it already has been) is that if you think its going to break you need to be on before it breaks. ticking new lows and highs is a good way to go broke.

I recall you posted an excellent walk through example of a stock some months back, in the congestion zone you spoke about taking trades at the highs/lows ANTICIPATING the next move. That's good winning trading.

Thank's kid ..
On the subject of "anticipating the next move, how many of you use the DOM
IE: If resistance will look like it will hold or break ? Versa support too.

I've been using "reading candle moves with momentum, if it does move higher than R than I get in.
Just hate those smash downs when they happen

Cheers,

 

[pavilion103]

Missed the move down! Grrr! That was big.

Market 6173 as the area to try and get a long at.


Annoying.

 

[pavilion103]

Wow I've stuffed it tonight.

Was short x 2 @6225.

Exited both to look for a long. Why why why try and guess a low.

This hurts!

Made some losses on open so up a grand total of 10 points

 

[fiftyeight]

So I went to JB HiFi and bought my self a 24 inch monitor the laptop was just not cutting it.

To celebrate I removed my self from exile and managed to get short 6205.

Took one off at 6149 (wish I didn't) and still holding the other.

Some good posts re my question this morning, bit busy will look again asap

 

[>Apocalypto<]

Wow I've stuffed it tonight.

Was short x 2 @6225.

Exited both to look for a long. Why why why try and guess a low.

This hurts!

Made some losses on open so up a grand total of 10 points

Don't worry Pav, i've only had one trade on the DAX for 10pts as well. missed all the juicy stuff taking my son out. didn't expect a repeat of last night to the down side.

 

[>Apocalypto<]

some unbelievable volatility around atm

 

[skyQuake]

I think that quick dip below 6050 on the FTSE = false brk to stop out the last few longs

Long here imo

 

[kid hustlr]

ballsy to buy anything here imo