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The transition to Futures trading

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Trembling Hand said:
LOL I think I should leave this thread alone.....
Click to expand...

plz don't.

recognise it was a bad entry, that being said took a very similar trade on the Dax several weeks back and it was quite successful.

Interesting to see how we react as we approach the lows here.
 
kid hustlr said:
recognise it was a bad entry, that being said took a very similar trade on the Dax several weeks back and it was quite successful.
Click to expand...

Just luck. Have a look at the market we have............ Its nothing.

You can back test that trade with the greatest of ease. Here is the result.......



chop suey.
 
Agree,

probably need to think about things a little more rather than just thinking 'OMG reversal bar!'

I feel like that is ordinary chop suey fwiw
 
Might of missed a chance to get long on the 3min. It came down and tried to test the lows but couldn't get there, bounced out pretty quick, Need to recognise the opportunity to buy that test a little quicker I think.

 
kid hustlr said:
bounced out pretty quick, Need to recognise the opportunity to buy that test a little quicker I think.
Click to expand...

Not if you had a 1 min chart.



Enter at the either of the reversal bars on the retest. Pick your flavour stop.
 
Tech, interested to get your thoughts on the chart marked below.

In your opinion is this a good enough signal to enter short?

 
kid hustlr said:
Tech, interested to get your thoughts on the chart marked below.

In your opinion is this a good enough signal to enter short?

View attachment 53507
Click to expand...

How about the low vol bar two bars earlier (retest of the high)? An earlier high vol bar which closed near its lows. Then a retest of that high on very low volume. I'd be more interested in a break of that low vol retest bar as I could set a stop above the recent high of the day.

But I've had a few beers tonight in celebration of a mates birthday. So maybe don't mind me. :
 
Well, a few of my stocks take out today. I may be back in the futures game!!
 
Kid, easy to be a hindsight genius isn't it?


I think my biggest weakness is assuming which way the market is going to go (or which way I want it to go).

We identified the high volume and possible support, yet did not wait for a retest of this low, in a low risk area.


My motto needs to be "always wait for that retest!!!!!"

 
pavilion103 said:
We identified the high volume and possible support, yet did not wait for a retest of this low, in a low risk area.
Click to expand...

I saw the retest of the low you're referring to, but just sat there thinking about it. I shorted the marked bar. The up move seemed to be running out of steam at resistance. Got stopped out at break even. May have been too tight on the stop. But since I lose often, I like to lose small.

 
Pav when I looked at the chart this morning I was gutted. It was SUCH an obvious trade and I was so keen to get in that I embarrassed myself and didn't wait for the test.

1. I remember tech saying perhaps only 2 weeks ago that you need to wait for the test. You put a chart up with a little duck face and everything.

2. Not only that, but the EXACT same thing happened the night before, and TH even pointed out the entry after the test of the low.

Still didn't stop me from jumping in head first and embarrassing myself.

Good example of a trade though, the last two nights were very similar as I said but last night we even got the small inside bar and everything.

Printing them off now.
 
I guess this is the learning stage where we have to try and keep these things front of mind. For the experienced traders this is all second nature.

I've written in a file where I keep notes on how I want to trade futures.

1. Look for those high vol areas.
2. WAIT FOR RETEST!!!!!!!!!
 
It cost me 8 points. In a trade that was not in a low risk area. Inexcusable.

I lost 2 points on another trade later but was ok with that one. I reduced risk quickly and have myself a chance at a move.
 


Kid the problem is you need to internalise the patterns. With intraday you only have minutes. The confusion of your mind when learning to trade is just overwhelmed with info and possibilities.

Some how you have to learn how to give yourselves a mental slap in the face to concentrate on the unfolding pattern and have the patience to seize the low risk entry to the pattern. Not the need to get in at any cost to the first R in the R:R ratio.

Some run away from you but if thats the case then so what all that means is that it wasn't one of your setups........... next!
 

Execution ---- right there---.

Theory is fine
but without execution---


Patience will serve you well---trades mid range are particularly difficult and trades
without a catalysts are doomed for failure! (Range and or volume) biggest error
is getting on the wrong side! I used to do it all the time!

My experience has been to anticipate momentum in your/my unfolding pattern.
Put a stop below it and then move to B/E as it retests and confirms your momentum.
Its not un common for me to have 1 to 4 setups where I'm stopped but only one
even short trade can bring me to profit very quickly.
 

Hi Tech/a,

How often does it not give you a chance to get to to BE, and hit your stop?
 
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