The transition to Futures trading

[waterbottle]

I am up to page 66 and have got a few more questions:

1. From what I have seen so far, the most common type of trade is one where a breakout trend is anticipated following a period of consolidation. Is there any reason for this?
2. How frequently do the contributers to this thread trade?
3. Do patterns have an expiry date? In other words, do you continuously have to find new patterns for entries/exits as old ones no longer work?

 

[spydoo]

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

You can still trade with AMP's NT download if you sign up with them. The platform's called NT direct. Orders can be placed on the DOM but trade strategies (preset stoplosses, targets and so on) and OCO orders are greyed out. Chart trader is also missing.

Also, brokerage fees are reduced by around a USD per round trip for a purchased/leased licence through both NT and AMP, I believe. So, while it's possible to trade without a purchased or leased licence, for someone who is going to trade everyday it's probably worth paying for one.

As you say though, you are also restricted in brokers. NT brokerage also offers NT direct, with the same conditions. I think there may be others but I'm not sure.

 

[CanOz]

You can still trade with AMP's NT download if you sign up with them. The platform's called NT direct. Orders can be placed on the DOM but trade strategies (preset stoplosses, targets and so on) and OCO orders are greyed out. Chart trader is also missing.

Also, brokerage fees are reduced by around a USD per round trip for a purchased/leased licence through both NT and AMP, I believe. So, while it's possible to trade without a purchased or leased licence, for someone who is going to trade everyday it's probably worth paying for one.

As you say though, you are also restricted in brokers. NT brokerage also offers NT direct, with the same conditions. I think there may be others but I'm not sure.

Yup, all good points, i forgot that you could actually trade, just not using the more sought after components....

Wild day on the Eurostoxx

 

[pavilion103]

Short FTSE.

Fraction away from a DAX trade at the top.

Short SPI.

Only interested in holding at this point in time.

 

[waterbottle]

I found this video about order flow analysis/DOM if anyone is interested. I've only watched the first 30min and I found it good as an intro.

https://www.youtube.com/watch?v=-rKhybqaNLs

 

[pavilion103]

Open position. Notes below.

63 points open profit = $1,200.

But strategy is to hold because I have only one contract. Has worked in the past.

 

[pavilion103]

Open position on the SPI.

Well aware of the risks of giving back good profit.

But I have decided that these high RR spots for a position trade are worth 2-3 attempts to get on one.

 

[pavilion103]

Here are some pages from my newly created Playbook.
This is my short section on my position trade strategy and only represents one sub section of the playbook which includes: general strategy, psychology, risk management, long setups,short setups, how to trade different markets.

Note (as stated previously) that it may take a few attempts to get on a position trade.

But once on it, it eliminates all the noise and is a semi-passive trading strategy in that I can leave it for a week or two without having to even log on and do a single thing.

So as well as the consideration of profitability versus profits given back, is also the consideration of time and not having to be at the screen to capture subsequent moves.

 

[CanOz]

Nice playbook Pav, lots of work gone into that its plain to see.

I see the FTSE is, as are the other Euro markets, in a balanced bracket area again. We are at a very low volume period of the season though, so next week should bring some interesting participants back into play.

CanOz

 

[pavilion103]

Yes I agree. Difficult to discern during this period.

I've traded nothing intraday in the past 2 weeks.

A good break.

 

[debtfree]

Thanks Pav for a peek into your Playbook.

Once again, as with your informative charts and posts, you keep on giving to help others, I appreciate it very much.

Cheers ... Debtfree

 

[pavilion103]

Some thoughts on DOW and FTSE.

This is my brief weekly analysis of these two particular markets. SPI and DAX reasonably similar to FTSE.

Interested to see if any differing views.

 

[CanOz]

I can't post until I get back home but there is a similar scenario in my head, but it involves a bearish wedge....use the S&Ps Pav, the Dow is only 30 stocks...more relevant I reckon...

 

[CanOz]

Some scenarios i was thinking of....

 

[pavilion103]

Ok I'll do S&P from now on. Cheers

Ok similar thinking. Hopefully accurate

 

[pavilion103]

FTSE - still short 6545 position trade.

Took 1 tonight here. Considered holding which would have been a good idea imo, however plan is to hold one and trade 1 intraday. Finished up 35 points on that one. A few other little trades for overall break even.

Summary
Intra-day trade = +35 points
Poisition trade = +90* points (open profit at risk)


(note: ignore the red entry level and profit at the top corner. Getting in and out a little has distorted this. Net position is above).

 

[pavilion103]

Came back on and saw something.

Short 6453 stop 6456.5 limit order.
Stop to BE quickly.
Took 15 points because I wanted to go to bed.


Finished up 50 points net.

Position trade up 117 points open profit.

Good night.
Had potential for more though.
Still satisfied.

 

[CanOz]

Yowza, that core short of yours is doing well now....see how the S&Ps cover the gap, if they don't find buyers there we're rooted....

 

[tech/a]

Nice---Very Nice PAV

 

[debtfree]

I applaud your discipline Pav, waiting for the right trades to come to you, those low risk entries.

Sure after the fact you could have made more but you stuck to your plan, picked up your cash and let your position trade do it's thing. Excellent ... Will be interesting to follow this position trade to see where the run finishes and how.

Cheers ... Debtfree