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The transition to Futures trading

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171,000 plus views, you are an inspiration to a lot of people here Pav thanks for your posting
 
Some of my struggles....

My mind can become obsessive with analysis. I find the best times for me are when I set the trade in the first hour, trail and leave it. If I stare at the screen needlessly is consumes my mind before bed and I find myself keep checking it and analysing things in my head before bed. I often wake up in the middle of the night because of this, check the trade and have bad sleep, waking up tired. If I stop looking at it from 6-7pm (when the market opens earlier in winter), I find I can sleep and forget about it, but if it's 9pm or 10pm and I'm still checking it will ruin my sleep.

Last night with the NFP I was anxious to see what would happen. I woke up about 1am or 2am I reckon and was looking at it for about 20 minutes as it was falling. My mind races and I struggle to get back to sleep. Last night I actually exited (successfully) during this time.

I find during the day the same issue with the SPI. I sit at work checking it and my mind starts analysing everything and it drains me. I keep refreshing emails, ASF and my IB app on the phone.


Having the 2 weeks off over Christmas was brilliant and cleared my mind so much.

This issue is more a habit than anything. If I just look at the trade for the first hour or so, place it, get it to BE and set alerts I'm fine. I go to bed, wake up and emotionally, I don't really care. But when I look at it for too long it consumes me at times.


So balance is the key. The beauty of trading is you can literally make thousands in a night with little effort and no need to stress or think about it. You can go watch a movie, go for a walk and the job is done. So I need to think along these lines more often.


I see this as simply a habit and it is one of my goals to work on. I don't think it's a major issue at the moment but more of an issue than I want it to be. I don't want to be waking up at 12, 2, 4 etc.
 
PAV

I think we have all been there----those of us who trade O/N

I had a couple of questions that needed answering in my analysis
so set about getting the answers so I could be definitive with my own
trading---mind you when I'm asleep the market answers those questions without me!

So initially when deciding to take a trade.

(1) How long will this signal be valid?
(2) Are subsequent signals supporting my view.
(3) Are these signals during or prior to momentum.
(4) Are they clear---UN ambiguous.

Currently I have found (without rigorous testing) that any two consecutive signals in one direction in a lower time-frame and one in a higher time-frame constitute a valid buy signal.
Two in the opposite direction and one in higher time-frame invalidate a position or a setup.

Personally I like momentum as it gives me space to trade. There are often many signals confirming a trade direction before momentum starts.

(1) We can wait
(2) We can place a buy or sell stop order.

Or if in a trade set a stop
OR if we have enough wiggle room set a stop to B/E
OR set a trailing stop.

These are our only options (unless anyone can throw in another couple).

This is a chart I sent to Kris next morning with my own commentary on how it could have been played and what to look for. Maybe of interest to others. Read in conjunction with my post here earlier in the evening.

tech/a
Re: The transition to Futures trading

Expecting everything to come off pretty hard from here!
DAX short 9818 ---- Current Stop 9872
Click to expand...

Click to expand

 
pavilion103 said:
Are we all thinking short. Re-test of Friday's levels or consolidation around here and fall?
Click to expand...

Sorry about my flippancy!

I tend to agree.

Short or probably a flat start to the week.
No indication at this stage of a long signal.
 
A really good place on the daily for a short if it were to come off.

Short 5,400. Stop 5,407.

I find SPI more tricky than FTSE.

Very easy to drop $200.

A lot more limit entries than FTSE for me.
 
I was sitting pretty with a few contracts.

All out for close to BE. (Minus 3)

Short again at the high for one final attempt.

I've been all over the place. Always had the same goal in mind though.

10 points at risk here.

Hoping for a chance to move stop.



SPI down 9.5 for the day.
 
DAX fell back at first resistance and now testing the second.
 
I've lifted one FTSE. Stuff it. It's battling a bit.

I'm at least over BE for the night.

Position trade running plus my other one.

Worst case +1.5 pints haha. What an adventure tonight to get here.


Thought I was laughing after that big down move with 3 on + SPI.
Not to be tonight!
 
FTSE trade and SPI trade both kept in by 1 single tick!

1 x FTSE exited for 90 points at 6389.

1 x FTSE running - 6545

1 x SPI running - 5400


Would have just held the first FTSE one but with other contracts on I'd rather lift some profits. If it falls further now I'll still capture points through them.
 
tech/a said:
2.10 am PAV

You've got it bad!
Click to expand...

Haha.

Got in 5 points from the top. Got out 5 points from the bottom. Take a photo of that one lol.

I woke up. I saw it smashing down on US open. Had to watch for 10 mins (lucky that's all it was this time).

Why is waking up so easy but getting back to sleep so difficult?!
 
Anyone in here who is more intune than me (not hard), have any thoughts on the week ahead of reporting?
 
Not trading tonight.
Out to dinner.

Last night as expected.
 
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