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Yeh very similar setup
The transition to Futures trading
- Thread starter pavilion103
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Looking good!
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Now I'm out. I'll take that.
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I'd identified around the 6520 as my target so I won't push my luck. Happy to turn it off now and do something else.
Maybe another setup forming here but not for me tonight
Maybe another setup forming here but not for me tonight
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Managed to botch this trade up and I lost money even though I exited before it hit my stop. Note to self when I enter a trade of this nature, it is exactly that, a trade of this nature. We are using charts to identify entry's and exits NOT other factors.
lesson learned.
lesson learned.
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I think I might adhere to this rule. I think the open provides super opportunity but its also probably higher variance/higher swings trading. As an example that opening bar on the 3min I have used before as a reason to get short (and I know tech has spoken about this as well). I would have been creamed in this case. Obviously only one example but I think mentally I'd rather observe the open, identify possible support/resistance areas, then look for the break outs / continutation / reversals etc.
tech/a
No Ordinary Duck
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Today's a no brainer
short since 6556
I'm marking up a couple of charts as its tanking.
READ THE BOOK!
short since 6556
I'm marking up a couple of charts as its tanking.
READ THE BOOK!
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Wouldn't you get stopped on the VERY next bar?
or is this a classic 'keep the stops wide' off the open bar.
EDIT: I'll post chart example in a sec
or is this a classic 'keep the stops wide' off the open bar.
EDIT: I'll post chart example in a sec
tech/a
No Ordinary Duck
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READ THE BOOK
Stop at B/E
Now set and forget for a while.
Stop at B/E
Now set and forget for a while.
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See picture,
I think I would have been stopped out on the next bar?
I think I would have been stopped out on the next bar?
tech/a
No Ordinary Duck
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?????????
Sorry Im not talking about or showing your trade.
Just mine---sorry for the confusion.
Its STILL crapping!
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No worries tech, I'm just trying to learn off you!
maybe I should structure it in this way.
Do you ever simply set the sell stop a tick below the reversal bar?
maybe I should structure it in this way.
Do you ever simply set the sell stop a tick below the reversal bar?
tech/a
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Terminology.
Sell stop do you mean a short position 1 tick below the reversal bar?
Or do you mean a buy for my short as a stop?
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I mean do you ever enter a short position by setting a sell stop one tick below the reversal bar. In this case it would have been 6550 on the 3min chart.
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Tech, what are your reasons for using the 3min? That no demand bar won't show up on the 5min; not that its a bad thing but seems a bit odd.
tech/a
No Ordinary Duck
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Love it.
Back from tea and stopped at B/E!
If I was watching Id have seen that failed test of the low.
NEXT!
KID
I used to but have found better entry techniques with less risk and better R/R.
SKY
I find 3 min for the FTSE gives me enough volume to be significant and enough range to also be significant.
It is just enough time to cut out a fair deal of the noise.
Back from tea and stopped at B/E!
If I was watching Id have seen that failed test of the low.
NEXT!
KID
I used to but have found better entry techniques with less risk and better R/R.
SKY
I find 3 min for the FTSE gives me enough volume to be significant and enough range to also be significant.
It is just enough time to cut out a fair deal of the noise.
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Surprised you don't maybe use a limit buy at a support level when you leave it to go have dinner?
I know it limits the profit potential, but it locks in some at a level of support likely to encounter resistance.
What are you thoughts?
I was a little disappointed. I was going to take a similar trade to yours, but by the time I logged on I had just missed it. It looked good. Glad I can at least identify some of this stuff.
I know it limits the profit potential, but it locks in some at a level of support likely to encounter resistance.
What are you thoughts?
I was a little disappointed. I was going to take a similar trade to yours, but by the time I logged on I had just missed it. It looked good. Glad I can at least identify some of this stuff.
tech/a
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I think I'm going to use the of the limit buy order near support (for short trades) at times because there are times I'd love to 'set and forget' once at break even. Not all the time of course. But when it stops me from going to dinner etc, its just silly.
It usually seems like there is about 2 or 3 real good opportunities a night most nights that I've been watching. It obviously varies though.
Most of my focus on our momentum portfolio for the minute though
It usually seems like there is about 2 or 3 real good opportunities a night most nights that I've been watching. It obviously varies though.
Most of my focus on our momentum portfolio for the minute though
Last night just about all the b/e stops on the obvious trades were ran, very quickly.
So, the question becomes,
- when do I move to b/e AND
- where do I put my targets AND
- do I want to scalp or swing ?
A standard strategy is after n ticks move stops to b/e and sell half [the scalp portion] , set a target for the swing portion but dynamically monitor how events unfold and press the eject button if necessary.
So, the question becomes,
- when do I move to b/e AND
- where do I put my targets AND
- do I want to scalp or swing ?
A standard strategy is after n ticks move stops to b/e and sell half [the scalp portion] , set a target for the swing portion but dynamically monitor how events unfold and press the eject button if necessary.
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