The transition to Futures trading

[DJG]

I'm also definitely interested in this thread. Keep it going and don't hold back on the graphs, as the visual example is always the best (this includes you tech/a and everyone else that can provide pattern examples etc).

I have one question also, for yourself or others - Who provides a decent simulated/demo trading account for futures?

 

[pavilion103]

I'm also definitely interested in this thread. Keep it going and don't hold back on the graphs, as the visual example is always the best (this includes you tech/a and everyone else that can provide pattern examples etc).

I have one question also, for yourself or others - Who provides a decent simulated/demo trading account for futures?

I use Interactive Brokers (the above chart). It comes with a simulation account as well as the real one with separate logins. I'm going to play around with futures on this one.

 

[DJG]

I use Interactive Brokers (the above chart). It comes with a simulation account as well as the real one with separate logins. I'm going to play around with futures on this one.

Thanks mate,

I tried opening an account with them, but I didn't have the required minimum deposit at the time. - Do you only get access to a demo account if you already have a real one?

 

[waza1960]

I tried opening an account with them, but I didn't have the required minimum deposit at the time. - Do you only get access to a demo account if you already have a real one?

see post #23

Consider using one of the US brokers for testing/sim. I use AMP futures with NT or MC they have CQG data which is top notch +if you have a live account with a few hundred dollars in it data and exchange fees are free.
They also have data for SFE.

+ its real tick data

 

[pavilion103]

Thanks mate,

I tried opening an account with them, but I didn't have the required minimum deposit at the time. - Do you only get access to a demo account if you already have a real one?

Yeh I'm pretty sure you have to have a real one to get the demo. The minimum to open an account is 10,000 but I think the minimum you can leave in is around 2,000 iirc. Can't remember exactly.

 

[DJG]

Yeh I'm pretty sure you have to have a real one to get the demo. The minimum to open an account is 10,000 but I think the minimum you can leave in is around 2,000 iirc. Can't remember exactly.

Luckily for me it's $3000 because I'm under 25. - Have to start saving

 

[pavilion103]

Below is the chart so far tonight. A 3 min chart again with some little consolidation patterns on declining volume, similar to the last chart I posted.

I have a question to pose to the people in here:

Is anyone interested in picking out a particular futures index e.g. the FTSE, or maybe a couple of ones which behave fairly similar and discussing in more detail the things to look for, similar patterns/behavior that repeat etc....I know everyone trades differently, but it would be interesting.

We could either continue it in this thread of I could start another one. I'm not sure if this will gain a big enough following to warrant progressing with but if there is I am keen to get it happening!!!

 

[pavilion103]

Just adding to that. I could post charts a couple of times a week (or more frequently if people are keen) and we can discuss them together. I'm open to ideas.

 

[chops_a_must]

I find the European markets pretty strange.

You need to keep an eye on the US futures, to look for moves into open.

 

[Lone Wolf]

Hi Pav,

I previously compared IB's volume data against a screenshot Tech put up (esignal I think) and I found that they were slightly different. I'll see if I can post a link to the thread:
https://www.aussiestockforums.com/forums/showthread.php?t=23310&p=653223&viewfull=1#post653223

SkyQuake was the only one to respond but he believed IB data to be incorrect. I have no idea if the problem still exists or how much of a problem it is. But if you're using volume analysis it might be an idea to have someone with a reliable feed compare against one of your charts for you. You don't want to be looking for patterns in false data.

Nice thread by the way. I'd certainly like to see more. But what you need is input from people who know what they're talking about when it comes to discretionary trading. That counts me out. :

 

[DJG]

Just adding to that. I could post charts a couple of times a week (or more frequently if people are keen) and we can discuss them together. I'm open to ideas.

the more charts, the better. Especially if they've got commentary and feedback.

 

[CanOz]

I find the European markets pretty strange.

You need to keep an eye on the US futures, to look for moves into open.

That's the type of patterns I'm interested in, does the DAX or FESX retest an area if the ES test the ETH low/high?

Does the DAX break out of its initial balance that often, if so how far does it typically move?

The EU indices are fine to trade but they're a different personality depending on the time of day.

CanOz

 

[CanOz]

As far as chart patterns go, sometimes they work and sometimes they don't. More often than not they don't work on index futures, IMO. If you get into a choppy area you'll get cut to bits.

If you can recognize support or resistance in the book first, you can get in on a pattern before it breaks, giving you a little edge on the typical pattern traders.

CanOz

 

[CanOz]

Yesterdays Eurostoxx session had a nice trend. I guess there would have been a couple of opportunities for pattern traders depending on what each one sees. The session prior was a little more difficult, choppier.

The open, as well as the opening range (initial balance) had opportunities if you can determine where the most pressure is...

CanOz

 

[CanOz]

Here is the same market (5 sessions), this time with a Volume Weighted Average Price channel, and the prior day OHLC levels marked.

Does anyone see any trading opportunities on it?

CanOz

 

[CanOz]

Here is the same chart without the VWAP channel. The reason i picked the FESX is because it is one of the most liquid contracts in existence, fills aren't a problem, its 10 EUR per tick/Contract, and it has a reasonable range.

CanOz

 

[CanOz]

Here's today's chart with a couple of levels to watch...

 

[chops_a_must]

As far as chart patterns go, sometimes they work and sometimes they don't. More often than not they don't work on index futures, IMO. If you get into a choppy area you'll get cut to bits.

Agree.

Not sure if you have it, but there was a classic this morning on the spi 3 minute.

Looked for all money like a runaway gap, a pennant formed. It broke up, and was slammed back through the gap.

Here is the same market (5 sessions), this time with a Volume Weighted Average Price channel, and the prior day OHLC levels marked.

Does anyone see any trading opportunities on it?

CanOz

Plenty of gap fills, and trends to the opposite of the open.

 

[CanOz]

Not really much for patterns on the FESX last night, but there was a rejection of this level. Tough to play and i didn't see it until this morning. 2565 will be interesting today. IF we can bounce there we could test 2597.

Cheers,


CanOz

 

[CanOz]

Agree.

Not sure if you have it, but there was a classic this morning on the spi 3 minute.

Looked for all money like a runaway gap, a pennant formed. It broke up, and was slammed back through the gap.

This?