The transition to Futures trading

[fiftyeight]

I want to have a play around with simply as it seems a popular choice. Also the plugins seem like the might be useful.

As Can Oz pointed out AMP does not support the HSI. So are people paying for a data feed and paying for NT? Then executing through IB? Does this get a bit messy or NT submits the trade through IB automatically.

 

[payday]

So are people paying for a data feed and paying for NT? Then executing through IB? Does this get a bit messy or NT submits the trade through IB automatically.

That's how I do it. It doesn't get messy not for me anyways. You can trade through NT using their DOM which links with your IB account. I don't trade the HSI btw - just US futures. I have my charts on one of my monitors and the IB screen is always up on another monitor so when I see a setup I just put the order in manually. My data provider is IQFeed which supplies data for both my NT platform and amibroker as well.

 

[fiftyeight]

Thanks heaps for that payday.

What features are you using in NT that TWS does not have.

Part of the reason I wanted try out NT is so I can reply my days trading and take another look at my trades, as well as review all the stats. Not sure how this would work if I am not executing through NT. But if NT talks to IB then all good

 

[CanOz]

The DJ Eurostoxx50 at a key level here...will be watching for a position here when we open after Christmas.

 

[CanOz]

The HS Mini is also at a key level...

 

[pavilion103]

Interesting levels and price behavior in most markets that I'm following. Definitely looking for a position trade.

My "long filter" now turned off and watching price action at this level for the next move.

 

[fiftyeight]

Yeah time to start paying attention to the hsm.

 

[fiftyeight]

If I get NT through AMP, am I able to use a different data feed or I am restricted to theirs?

 

[CanOz]

If I get NT through AMP, am I able to use a different data feed or I am restricted to theirs?

What you will be restricted to is brokers, not data feeds. You need to either lease or own a copy of NT to trade.

 

[fiftyeight]

Haha yeah that would make sense. Ill bite the bullet in the near future

 

[CanOz]

The HS Mini is also at a key level...

Well the market jumped the creek here, gapping open significantly. Shorts are risky but return to close the gap may provide a buying opportunity if buyers respond!

I wonder if the FESX does a similar thing this arvo?

CanOz

 

[CanOz]

Another trade opportunity could be happening soon in crude oil. We could get a decent short squeeze starting somewhere above 56.00, im only on my iPad so if someone else could post a chart, it's quite obvious. I would look at trading the mini here though, the QM 02-15.

 

[payday]

Another trade opportunity could be happening soon in crude oil. We could get a decent short squeeze starting somewhere above 56.00, im only on my iPad so if someone else could post a chart, it's quite obvious. I would look at trading the mini here though, the QM 02-15.

 

[fiftyeight]

Only managed to glance at the HSI on my mobile a few times with sketchy reception. Haha 400 gap

 

[fiftyeight]

Only managed to glance at the HSI on my mobile a few times with sketchy reception. Haha 400 gap

 

[dead trader]

Haha 400 gap

Looks like the big money is trying to get the little money to follow it - for that little bit more before chewing them up... I feel sorry for the mum and dad investors in HK already...

 

[CanOz]

Looks like the big money is trying to get the little money to follow it - for that little bit more before chewing them up... I feel sorry for the mum and dad investors in HK already...

I haven't checked lately but I think the gap filled, the key now is if that level can find buyers, no buyers, or more selling? I'd want to buy any decent buying there, but if price gets rejected there I would be bearish. Similar situ on the FESX actually, it's turned out quite bearish, for now...

 

[waterbottle]

Hi All,

Very informative thread here. I have only read the first 10 pages but plan to read the rest.
I am currently trying to work out how to trade forex (mostly because I can do so between 7:30pm and 9:30 pm) but some of the talk about futures seems interesting.

I have a few questions:

1. How do you work out a R:R before you enter a trade? I know that risk = entry - stop loss and reward = profit target - entry, but then aren't you assuming that your trade will hit a particular target (which it may not)?
2. Are there any good resources on how to read the DOM? Is it applicable to FX or is it useless because of the lack of volume data?
3. How do you build up the statistics which characterise your market? e.g. average size/duration of a trend, average range, average retracement etc. I realise that some of this can be done in Excel, but if I want more detail (e.g. the average retracement for a 100 pip trend), then it gets tediuous and requires too much time/manual work
4. Any websites out there that you can recommend to teach you futures? e.g. FX has forexfactory and babypips

Cheers

 

[CanOz]

[*]How do you work out a R:R before you enter a trade? I know that risk = entry - stop loss and reward = profit target - entry, but then aren't you assuming that your trade will hit a particular target (which it may not)?

R:R is just a way to try and make sure you are aiming for targets that will pay you more in the long run. By assuming a target, whther that be a value area, a measured move etc., you can estimate what the reward will be and try and stick in the trade until its reached.

[*]Are there any good resources on how to read the DOM? Is it applicable to FX or is it useless because of the lack of volume data?

There are no secrets to reading the DOM but there are a few things that go on in the depth that are handy to learn. Its also a great way to execute trades, especially when the market pulls back to your limit order. I have some videos on here somewhere showing the games that go on in the depth, DAX mostly. Its useless with FX but fine for Currency futures.

[*]How do you build up the statistics which characterise your market? e.g. average size/duration of a trend, average range, average retracement etc. I realise that some of this can be done in Excel, but if I want more detail (e.g. the average retracement for a 100 pip trend), then it gets tediuous and requires too much time/manual work

There are tons of posts around the internet on stats or homework as some call it. You can use excel to mine the data, or write code. I have a good eLancer that helps me with this from time to time.

[*]Any websites out there that you can recommend to teach you futures? e.g. FX has forexfactory and babypips
[/LIST]

ASF has some good threads. There are some good books around too but the best way is to just open a sim account and get some screen time.


Ask me anything, I'll do my best to help you out.

CanOz

 

[waterbottle]

R:R is just a way to try and make sure you are aiming for targets that will pay you more in the long run. By assuming a target, whther that be a value area, a measured move etc., you can estimate what the reward will be and try and stick in the trade until its reached.

There are no secrets to reading the DOM but there are a few things that go on in the depth that are handy to learn. Its also a great way to execute trades, especially when the market pulls back to your limit order. I have some videos on here somewhere showing the games that go on in the depth, DAX mostly. Its useless with FX but fine for Currency futures.
There are tons of posts around the internet on stats or homework as some call it. You can use excel to mine the data, or write code. I have a good eLancer that helps me with this from time to time.
ASF has some good threads. There are some good books around too but the best way is to just open a sim account and get some screen time.


Ask me anything, I'll do my best to help you out.

CanOz

Thanks CanOz.

I am a bit wary of entering futures so soon as I'm still trying to get a hold on FX. I will play around with currency futures on NT.