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Pav, are you a full-time trader now? I notice the title of the thread is "transition to futures trading"... is that transition complete? Just curious.
The transition to Futures trading
- Thread starter pavilion103
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Short 1 x position trade
Plus 2 more
1 @ 6403
1 @ 6396
Since I wrote up the chart price has smashed down.
Exited one for 65 points @ 6336.
Other 2 to run over night.
Plus 2 more
1 @ 6403
1 @ 6396
Since I wrote up the chart price has smashed down.
Exited one for 65 points @ 6336.
Other 2 to run over night.
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Exited the 2nd @ 6249
WOW!!!!!!!
WOW!!!!!!!
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200 points profit locked in for the night.
Position trade up 270.
Almost added a 4th contract tonight for 6 point risk in the triangle consolidation after the initial break
how amazing that would have been.
Wish I had held the first an extra literally 15 mins too! But I'm fine with that decision.
Only the 1 running now!
Position trade up 270.
Almost added a 4th contract tonight for 6 point risk in the triangle consolidation after the initial break
how amazing that would have been. Wish I had held the first an extra literally 15 mins too! But I'm fine with that decision.
Only the 1 running now!
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My exits.
tech/a
No Ordinary Duck
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Matt
Thats an excellent trade.
Perfect reading of price action
AND it reacted exactly as you expected
Doesn't get better than that.
Reaping the payoff off your time spent on education.
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Thanks mate.
You've seen my journey.
Good to get some reward.
Anyone else on tonight?
Many trading the markets at night?
You've seen my journey.
Good to get some reward.
Anyone else on tonight?
Many trading the markets at night?
It's been an interesting night for sure. Covered short at around 9833...right before the sell off...
I flipped though and bought a bunch on that move. Market has been a hard read recently, so will babysit this package. Will see PA at US open.
CanOz
Home runs feel good, but base hits pay bills!
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Nice news trade Pav!
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The "interesting" thing
is the emergency announcement from the Swiss National Bank was not scheduled so anyone holding Longs on the USDCHF (and there were obviously plenty) got slaughtered. Dodgy behaviour by the SNB!The two charts are DAILY charts. Imagine the amount of Accounts which were wiped in a matter of seconds!
Attachments
CanOz
Home runs feel good, but base hits pay bills!
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That's dirty!! I wondered about the timing....looked off a bit.
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I certainly was.
I had the immense delight of being informed by my CFD provider that my limit orders to buy their Germany 30 June 15 weren't filled - apparently they missed the bottom of that particular move by a mere 8 points!!!
Can anybody here confirm whether or not the actual June 15 DAX futures penetrated 9597 (I have to allow 3 points on account of a 6 point spread)?
tech/a
No Ordinary Duck
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Not even close
Why don't you trade the current contract?
That would have been filled.
Enclosed is both charts.
Click to expand
JUNE
MARCH
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Thanks for that Tech/A. After seeing what happened on the Cash and the March futures I was beginning to have doubts about my CFD provider. The chart you provided has thankfully allayed that concern.
My reason for choosing the June contract was influenced by its correlation with another instrument with June expiry that I happen to be trading concurrently with DAX futures.
The 400 points of missed profit, on this occasion, certainly warrants a revision to my approach. It seems that trading the current quarter with a view to rolling forward at expiry may have merit as it would certainly have proved more rewarding.
My reason for choosing the June contract was influenced by its correlation with another instrument with June expiry that I happen to be trading concurrently with DAX futures.
The 400 points of missed profit, on this occasion, certainly warrants a revision to my approach. It seems that trading the current quarter with a view to rolling forward at expiry may have merit as it would certainly have proved more rewarding.
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incredible night. don't think ive ever seen that on the ftse before.
march/june contracts don't trade tick for tick (cost of carry, premium etc etc) but the question still stand of why trade an illiquid contract? spreading of some type I assume?
march/june contracts don't trade tick for tick (cost of carry, premium etc etc) but the question still stand of why trade an illiquid contract? spreading of some type I assume?
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Yes! You assumed correctly. Apart from the carry costs, I'd previously assumed that, despite the lower liquidity, the outer contract would still be pulled roughly into step through arbitrage. Last night has revealed that this is not always the case.
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Some wild moves overnight and as Tech/a said, Pav, excellent job. That trading shows your VSA analysis very clearly.
CanOz
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Liquidity in many markets dried up last night around the time of the SNB announcement. As mentioned in another threads many brokers are not around anymore today after last nights move....nor are a few traders....allot could not get out even with their stops as there simply was no liquidity.
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The main dilema for me was my psition trade.
When the market smashes down so hard I want to take the big profit. At the same time I figure it would take a lot to then turn around and take out the highs. I'm only in by about 110 points now and with current volatility that isn't much.
Given my target was 6150-6200. Maybe lifting at 6240 like I did my other one would have been smart given 50-100 points to gain and 300 to give back. However, my thinking was that things look dire and it could go further. It's always a dilema but just need to make decisions after analysing each day and stick to them.
DOW still looks very weak. That's the other consideration for me.
Interesting.
But one decent push up and I'm gone.
Some resistance above which is good.
Hoping for a down night from the open!
When the market smashes down so hard I want to take the big profit. At the same time I figure it would take a lot to then turn around and take out the highs. I'm only in by about 110 points now and with current volatility that isn't much.
Given my target was 6150-6200. Maybe lifting at 6240 like I did my other one would have been smart given 50-100 points to gain and 300 to give back. However, my thinking was that things look dire and it could go further. It's always a dilema but just need to make decisions after analysing each day and stick to them.
DOW still looks very weak. That's the other consideration for me.
Interesting.
But one decent push up and I'm gone.
Some resistance above which is good.
Hoping for a down night from the open!
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