The transition to Futures trading

[kid hustlr]

im not sure i understand any of that?

 

[tech/a]

im not sure i understand any of that?

Thinking out load and typing at the same time.

School isn't out on direction for me
I'm short at 17 after closing my 1st short at 15 (10015)
My initial; stop is at 31 (10031 ) but intend to move it to B/E as soon as I can
This 9 min chart will show the sell decision.
The 1 min chart shows why I have in decision.

Once set at B/E ill be going up to watch some TV with the Cheez.

Woah It just popped Lower!!
And reversing again on a high volume sell off to the short side again---all predictable.
(Thats what normally happens after really high volume.---In either direction).

Click to expand.




Now at B/E

 

[tech/a]

Out B/E
5 ticks on indecision.
Night

 

[kid hustlr]

lol @ cheese haven't heard that in years

 

[kid hustlr]

I like the second short better fwiw

 

[tech/a]

I like the second short better fwiw

Yes it was better.
There was an air of strength around in trading
last night. The rebound in the break below 10000 became
prolonged which is often a sign that the move down -- or up
has been arrested.
Didn't expect it to recover as quickly and as sharply so glad
I had the stop in place.
Thought Id be slipping off to bed with 20-30 in the bag.

 

[pavilion103]

Good charts Tech. I miss those. Learnt so much from them.

As I was telling kid I left a small amount in my account, bordering on the margin requirements for the DAX. I got closed out of a position. I made a loss last light then a profit on the second trade. No idea why it closed a trade that was UP?

I traded the SPI and made 54 points today. Still says I don't have enough margin for the DAX weird given that I entered it with less in the account yesterday :S

Any ideas?

 

[pavilion103]

Solved the issue.

I had enough only for intra day trade in my account.

I need double to hold over night.

Makes sense.

 

[CanOz]

Solved the issue.

I had enough only for intra day trade in my account.

I need double to hold over night.

Makes sense.

Initial margin and maintenance margin...

 

[pavilion103]

Is anyone else having issues with IB?

My internet is fine. Working for everything.

My internet on mobile is the same.

Can't log into IB. It won't connect.

 

[pavilion103]

I'm in.

 

[captain black]

Is anyone else having issues with IB?

My internet is fine. Working for everything.

My internet on mobile is the same.

Can't log into IB. It won't connect.

All ok here Pav but I've been logged in since early this morning.

 

[captain black]

I'm in.

 

[pavilion103]

Well I'm glad I got on in time for this decent move.

Would have been annoyed seeing if I hadn't and woke up to see that juicy setup at the high.

 

[pavilion103]

Anyone else had a fairly active week?
Markets trending well at the moment.
I've been waiting for that top to setup up and then break lower. Good time of opportunity this week and maybe going forward.

 

[tech/a]

Anyone else had a fairly active week?
Markets trending well at the moment.
I've been waiting for that top to setup up and then break lower. Good time of opportunity this week and maybe going forward.

Not a lot at all this week.
1 session.
Too many X messy things going on.
Next week is worse.
Then Xmas then New year.

Have 3 weeks off but wont be a holiday!

 

[pavilion103]

That was either my best or second best week ever. So pumped.

I might get the chance to post some charts with my post week analysis being on today or tomorrow. But I've said that before and haven't had time so we'll see.

A clear top formed. It was a very high probability time and RR time to be shorting.

I'm disappointed with my liquidity situation for the DAX. That would have been perfect but I can't be unhappy with the FTSE this week.

Tech taught me some good risk management principles in a chat last week. I implemented them in my trading this week. Never ceases to amaze me how much I can learn from that guy. Champion.

Last time during the fall a couple of moths back I took bigger risks than I should have at times. I was fortunate that the market was moving so well. This time I am thoroughly satisfied. I managed risk at the same time and got the same result.

The next step is learning how to better add to my positions when it's trending like this. A valuable skill. And next on my list!

 

[pavilion103]

Friday just the 1 contract because I wasn't going to be home for long. Didn't want too much open risk. This is my least used type of trade where I jump on momentum when I feel it is warranted. I initially had the high at the very top of the day and then moved it quickly to the red mark and then to BE very quickly.

 

[pavilion103]

Thursday night. Probably my favourite type of setup. Allows me to get one entry with a limit order and the other on the break. If the original one fails I can lose 3-5 points. If the second is triggered I can move the first one to BE and have a total of 7-9 points risk, depending how wide the setup is. In this case the risk was 5 points and 9 points.

 

[pavilion103]

Wednesday night. I lost some points on the open. Didn't want to take too many risks after that. Managed to get on a good one. Just the 1 contract.