The transition to Futures trading

tech/a · 24 July 2013

Twiddle said:
Hi Tech/a,

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

If you have a look at the the FTSE trades I've posted 5 in real-time here.
None got hit.
I haven't posted all trades here but Id say these days Initial stop hit 1:10
A stop before B/E 1:5
As stop at B/E again on average 1:3

But of course ill have a great run of catching momentum and have zero.
Over the years and particularly over this year I seem to have sync'd with
momentum ID and I get stopped less.
The reason for getting to B/E as quick as I can was for that reason.
I wasn't good at getting my ID of momentum V my Trade Bias!
I was (it seemed) always on the wrong side!.

Twiddle · 24 July 2013

tech/a said:
If you have a look at the the FTSE trades I've posted 5 in real-time here.
None got hit.
I haven't posted all trades here but Id say these days Initial stop hit 1:10
A stop before B/E 1:5
As stop at B/E again on average 1:3

But of course ill have a great run of catching momentum and have zero.
Over the years and particularly over this year I seem to have sync'd with
momentum ID and I get stopped less.
The reason for getting to B/E as quick as I can was for that reason.
I wasn't good at getting my ID of momentum V my Trade Bias!
I was (it seemed) always on the wrong side!.

Very interesting. Thanks for sharing.

The DAX can provide some very nice opportunities for momentum trading, (as I am sure you are aware) as breakouts at the opening, or massive pushes through stops and violent reversals. I am still in the process of figuring out how best to deal with these though.

tech/a · 24 July 2013

Twiddle said:
Very interesting. Thanks for sharing.

The DAX can provide some very nice opportunities for momentum trading, (as I am sure you are aware) as breakouts at the opening, or massive pushes through stops and violent reversals. I am still in the process of figuring out how best to deal with these though.

I have found and I watch the DAX as I'm trading the FTSE on a tiled window.
That Support and resistance
Volume and range
Speed of movement
and chart landscape (history)
are the best leading indicators.

pavilion103 · 24 July 2013

Tech you've mentioned multiple times about the potential for making money in the first 15-30 minutes of the FTSE.

What type of setups do you look for. I feel uncomfortably often when looking at the first 15-30 minutes because there aren't many bars for the day. I don't know what to look for.

Lone Wolf · 24 July 2013

A bad trade that let me off easy.

Since we are nearer to the top of the weekly range I preferred the short trade. A large triangle/flag was forming, a very low volume bar appeared indicating a lack of pressure.

Shorted it at 6989 on the 9:06 bar, out at break even.

Sounds like a nice explanation, but I'm not sure there was actually a decent setup in there. And if I'm not sure, why trade it? I just wanted to find something to trade.

Caveroute · 24 July 2013

Take a look at - http://ninetrans.blogspot.com.au/p/stages-of-mastering-price-action.html

It might be of interest.

Caveroute · 24 July 2013

Re the first hour - take a look at - http://ninetrans.blogspot.com.au/p/stages-of-mastering-price-action.html

It might be of interest.

tech/a · 24 July 2013

Caveroute said:
Re the first hour - take a look at - http://ninetrans.blogspot.com.au/p/stages-of-mastering-price-action.html

It might be of interest.

Thanks for the link.
Not suprising that others find similar
Price action.

kid hustlr · 24 July 2013

Lone Wolf said:
A bad trade that let me off easy.

Since we are nearer to the top of the weekly range I preferred the short trade. A large triangle/flag was forming, a very low volume bar appeared indicating a lack of pressure.

Shorted it at 6989 on the 9:06 bar, out at break even.

Sounds like a nice explanation, but I'm not sure there was actually a decent setup in there. And if I'm not sure, why trade it? I just wanted to find something to trade.

View attachment 53536

Was watching this. I too wanted to short it and that really low volume bar was almost my trigger, yet I just didn't think there was enough confirmation to do so. I was looking for a re-test of the highs and some exhaustion volume a little higher before looking to get short.

Interestingly enough we kind of had that test just after 7 oclock. rubbish volume and no demand suggests to me it might be going lower. I almost took a short below the 7.18 bar. this would have provided an entry with a nice tight stop. Didn't take the trade though as it's not one of the few specific set ups im looking for.

Lone Wolf · 24 July 2013

kid hustlr said:
Was watching this. I too wanted to short it and that really low volume bar was almost my trigger, yet I just didn't think there was enough confirmation to do so. I was looking for a re-test of the highs and some exhaustion volume a little higher before looking to get short.

Interestingly enough we kind of had that test just after 7 oclock. rubbish volume and no demand suggests to me it might be going lower. I almost took a short below the 7.18 bar. this would have provided an entry with a nice tight stop. Didn't take the trade though as it's not one of the few specific set ups im looking for.

I agree with your assessment of my ealier trade.

I haven't been too keen since. I started getting wary that it might just be meandering sideways. I want a market that moves. I won't do anything until I see some life return to it.

Lone Wolf · 24 July 2013

kid hustlr said:
Didn't take the trade though as it's not one of the few specific set ups im looking for.

Forgot to mention... Good job sticking to your guns. Successful people have suggested that you pick some select setups and master them, note other possibilities but don't get distracted by the noise.

kid hustlr · 24 July 2013

Lone Wolf said:
Forgot to mention... Good job sticking to your guns. Successful people have suggested that you pick some select setups and master them, note other possibilities but don't get distracted by the noise.

Cheers mate,

In time I have no doubt this will be added to the play book but for now I just want to (try) keep it simple.

tech/a · 24 July 2013

Well this is where I am tonight. FTSE

.

We are off---stop now at B/E at the Triangle entry 6596

tech/a · 24 July 2013

Has a way to go yet as it may still resist.
but at least I'm on and at B/E.

skyQuake · 24 July 2013

tech/a said:
Has a way to go yet as it may still resist.
but at least I'm on and at B/E.

First test of the highs. Check.

Lone Wolf · 24 July 2013

tech/a said:
Well this is where I am tonight. FTSE

Thanks Tech, always good to see your point of view.

kid hustlr · 25 July 2013

tested that high 3 times now intra day and turned around each time. Interesting to see how it unfolds.

nice trade tech, break even no harm done!

pavilion103 · 25 July 2013

Caveroute said:
Re the first hour - take a look at - http://ninetrans.blogspot.com.au/p/stages-of-mastering-price-action.html

It might be of interest.

Thanks mate

tech/a · 25 July 2013

Smacking into constant resistance.
Spending a lot of time up at these levels.
A matter of time.

pavilion103 · 25 July 2013

tech/a said:
Smacking into constant resistance.
Spending a lot of time up at these levels.
A matter of time.

What do you look for in terms of a setup for potential break of this resistance?

Do you buy as a normal breakout of a smaller intraday pattern? Or do you buy on a dip and hold in the hope of a break? What's the plan?

The transition to Futures trading

tech/a

No Ordinary Duck

Twiddle

tech/a

No Ordinary Duck

pavilion103

Lone Wolf

Caveroute

Caveroute

tech/a

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kid hustlr

Lone Wolf

Lone Wolf

kid hustlr

tech/a

No Ordinary Duck

tech/a

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skyQuake

Lone Wolf

kid hustlr

pavilion103

tech/a

No Ordinary Duck

pavilion103

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