The transition to Futures trading

[grah33]

So what two s&p contracts are you comparing? What is the exact time on those that you are comparing??

D1 daily timeframe, say the doji on 8-5-18...

Comparing

emini SP 500 june EPM8 : Volumes reads 1238697 (june contract)

emini SP 500 september (current) EPU8 : Volumes reads 1359 (september contract)

(using mt5 connected to futures exchange )

I know the September contract doesn't cover that day, but one might go back in time to look at the chart there, and I'd expect it to display the same value.

For yesterday's daily candle (a sizable up candle), current september contract shows:

805704 (Volumes )

340460 (Tick Volumes )

(using mt5 )

is that correct? hopefully at least these values are correct.

Thanks again

 

[CanOz]

Why would you assume different expires have the same value for volume?

 

[CanOz]

The eminis trade in three month expirys. The June contract rolls to September in mid June. Check the cme website for dates but it rolls on volume anyway. You're comparison involves volume in May where June is the front month, so of course it has more volume than September, which has yet to roll to front.

 

[grah33]

Why would you assume different expires have the same value for volume?

Not in the rollover period, but before it on the chart that displays it (i can view earlier dates in current contract, though they aren't part of this contract). it would be better to just not show anything since the contract doesn't cover those days, or show the same as the previous contract

in any case , is the last candle correct at least ? If so I would assume all the other volumes and tick volumes values in this current contract are correct.

 

[grah33]

(just added)
i responded to early. so now i'm reading your recent second post....

 

[CanOz]

For long term comparison we use continuous futures, either merged back adjusted, or merged non back adjusted. Suggest that Mt does offer that feature

 

[grah33]

Mostly influenced by works of Larry Williams/George Angell/Tony Crabell. FX a former CitiBank trader showed me the ropes. Options is my own maths-based work on volatility/premium/time.

any book in particular with trading methods that work, or maybe VSA is being used by the others here for futures trading?

 

[minwa]

any book in particular with trading methods that work, or maybe VSA is being used by the others here for futures trading?

Williams: how i made one mil
Crabel: opening range breakout (this books costs around 1k unless you can find a good 2nd hand)
Angell: sniper trading

They only teach concepts that you have to develop into your own method. I am not familiar with VSA so search other's posts for that.

 

[grah33]

Williams: how i made one mil
Crabel: opening range breakout (this books costs around 1k unless you can find a good 2nd hand)
Angell: sniper trading

They only teach concepts that you have to develop into your own method. I am not familiar with VSA so search other's posts for that.

Thanks for the tips (definitely appreciated). I had a good look at the Table of Contents of those books on amazon, trying to gleam out what area of technical analyses they use, but the William's book didn't really reveal much in the TOC (you gotta read the chapter itself). Can I ask is there a name for the type of technical analyses that might work in index futures? I'm familiar with forex price action stuff, although it didn't work well with Forex (to me, so far). Maybe this kind of stuff (price action e.g range inflections, trend pullback entries) would work with futures though...

 

[CanOz]

If you want to trade futures check out www.axiafutures.com

Also, a heads up. If you want this bad enough you need to either fork out enough dough for training and education from reputable sources or do the hard work yourself....I'm guessing neither is that appealing to you given you couldn't even be bothered buying a book!

 

[minwa]

Thanks for the tips (definitely appreciated). I had a good look at the Table of Contents of those books on amazon, trying to gleam out what area of technical analyses they use, but the William's book didn't really reveal much in the TOC (you gotta read the chapter itself). Can I ask is there a name for the type of technical analyses that might work in index futures? I'm familiar with forex price action stuff, although it didn't work well with Forex (to me, so far). Maybe this kind of stuff (price action e.g range inflections, trend pullback entries) would work with futures though...

You have to make your own type. Almost every type of TA uses the same input derivative - price/time/volume etc. If you must follow something perhaps try VSA as you've shown interest in it and a few here have good success with it.

 

[grah33]

If you want to trade futures check out www.axiafutures.com

Also, a heads up. If you want this bad enough you need to either fork out enough dough for training and education from reputable sources or do the hard work yourself....I'm guessing neither is that appealing to you given you couldn't even be bothered buying a book!

The link looks interesting. I scoped their strategies (includes using order flow and volume profiling), similar to what you're doing (initially those side histograms threw me off). The courses are expensive though, but it would be great to get it all done fast I suppose. Regards Minwas book, I could have bought it but I'm not sure if that's the direction for me. But i might get it anyway.

 

[grah33]

You have to make your own type. Almost every type of TA uses the same input derivative - price/time/volume etc. If you must follow something perhaps try VSA as you've shown interest in it and a few here have good success with it.

Yeah, that is what is luring me, the VSA, as it's popular around here .But i'll keep being open minded and see. You probably use volume just in a different way or similar. I got to pick a TA way and go for it. Either VSA , or explore those books u mentioned, or the profiling and order flow methods out there. Or maybe keep trying price action with no volume stuff at all (as in the babypips course).

 

[minwa]

Yeah, that is what is luring me, the VSA, as it's popular around here .But i'll keep being open minded and see. You probably use volume just in a different way or similar. I got to pick a TA way and go for it. Either VSA , or explore those books u mentioned, or the profiling and order flow methods out there. Or maybe keep trying price action with no volume stuff at all (as in the babypips course).

I do not use volume at all. There are some who swear by it. So have a explore and see if it suits you. If you wish you can youtube some Larry Williams materials to see if it resonates with you before you purchase the book. Do the same with VSA/profiling/orderflow.

PS. George Angell's book only applies to day trading so if you wan't to trade longer term no need to consider it.

 

[CanOz]

If you're going to do this, then start writing a plan. What market? You need a market that suits your time zone or hours where you can sit in front of the screen. What time frame? Are you only technical or fundamental? What about economic news?

 

[CanOz]

If you're going to do this, then start writing a plan. What market? You need a market that suits your time zone or hours where you can sit in front of the screen. What time frame? Are you only technical or fundamental? What about economic news?

 

[grah33]

If you're going to do this, then start writing a plan. What market? You need a market that suits your time zone or hours where you can sit in front of the screen. What time frame? Are you only technical or fundamental? What about economic news?

I'll probably try the emini 500 SP first, since that's what everyone else is doing , and it's liquid, good for learning. Just a technical trader, short term only .

 

[jjbinks]

If learning is what you really want to do. Here would be my steps to learning futs if I was to do it again.

Spend some time learning basic NT (5 -10 hours)

... Turn on NTs playback function. Set it to 10x speed and hit with all you have. Trade it seriously with 2 lots and don't kid yourself. Keep stats (which NT is good at) and really work on them. Win rate, R:R hold time etc. You will do 20 hours of intense trading and training in two hours. After a few months you will literately have years of examples played out in your head.

Is Ninjatrader still the best platform from playback perspective. I use metatrader but replay is "manual" (i.e. scroll through old charts at your own pace and then have to calculate your own winloss ratios/hold time etc.)

 

[grah33]

If you want to trade futures check out www.axiafutures.com

Also, a heads up. If you want this bad enough you need to either fork out enough dough for training and education from reputable sources or do the hard work yourself....I'm guessing neither is that appealing to you given you couldn't even be bothered buying a book!

It's been a while since I've been around, but I've been learning and I'm still in the game. I wouldn't mind getting your opinion on something. I got jigsaw DOM and did the course that goes with it (almost finished). I can either do the Axia price ladder (preferred choice) course, or the Axia volume profile course, or the No BS course. No_BS day trading course is just so much cheaper (under 100 bucks). U reckon it teaches one how to actually make money? Maybe it can teach me how to scalp gold and oil (London time), while the price ladder Axia course is position day trading. Dk. Thought I'd ask as you give good advice often enough.

 

[CanOz]

The ladder is the ladder, there's not allot the guys at Axia will teach you that Pete can't. They have plenty of free vids too that are well worth watching. However, any course on market/volume profile is worth the money if it can teach you how to develop context.