Australian (ASX) Stock Market Forum

The transition to Futures trading

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tech/a said:
Yup
Some one bought that just to peeve me.
Its a conspiracy!

Cant read the FTSE
But shorted the DAX--8425

And Im not saying where my stop is!
Click to expand...

That was a DAX trade.

Looking back at the FTSE
The trade was right and the exit was 1.5 ticks
too far away had I left it and not been stopped.

But that's trading.
 
A great week on the FTSE for me.

Some great trades and some near misses which is always going to happen. Last night I was close twice and ended up with a 3 point loss overall (2 attempts), earlier in the week stuffing around and missing out on that 40 point profit, not holding Thursday night and missing 60 points.

These things are coulda woulda and shoulda and happen to everyone. But with a bit more polish I can take away some of the silly errors at least, although these were not all silly errors by any means.

I think it's a lot about opportunity. If you can get in and reduce risk to BE enough times you have a strong upside of 30-50 points. Do it enough times and you'll capture enough of these big moves to really boost profitability.


Very happy with the week and I guess with a bit more luck could have had another 100 points. These near misses will always be there but then so will the weeks when everything goes right.
 
pavilion103 said:
A great week on the FTSE for me.

Some great trades and some near misses which is always going to happen. Last night I was close twice and ended up with a 3 point loss overall (2 attempts), earlier in the week stuffing around and missing out on that 40 point profit, not holding Thursday night and missing 60 points.

These things are coulda woulda and shoulda and happen to everyone. But with a bit more polish I can take away some of the silly errors at least, although these were not all silly errors by any means.

I think it's a lot about opportunity. If you can get in and reduce risk to BE enough times you have a strong upside of 30-50 points. Do it enough times and you'll capture enough of these big moves to really boost profitability.


Very happy with the week and I guess with a bit more luck could have had another 100 points. These near misses will always be there but then so will the weeks when everything goes right.
Click to expand...

Considering your limited experience, limited time frame to play, using 1 contract only...i think you are doing extremely well Pav, really. Most people that would trade futures would struggle allot more than what you have. I've seen many traders lose their account after a couple of weeks on Big Mike's, so Kudos.

I hope you post your stats after 50-100 trades so we can see results, in points.
 
CanOz said:
Considering your limited experience, limited time frame to play, using 1 contract only...i think you are doing extremely well Pav, really. Most people that would trade futures would struggle allot more than what you have. I've seen many traders lose their account after a couple of weeks on Big Mike's, so Kudos.

I hope you post your stats after 50-100 trades so we can see results, in points.
Click to expand...

Thanks for the kind words CanOz. There are many things that I suck at but this just seems to suit my personality so well. Even as a kid when playing cricket video games I couldn't just play. I had to record all the stats, all the averages, promote players, relegate players. The same with watching F1, I can have the time sheets up and get excited about tenths of a second. I love statistics, details and probabilities. In school I was very maths focused.
It has probably prepared me better than most.

I'm passionate about trading but I don't get too excited as I'm in each trade. I just think in terms of points and statistics rather than thinking "wow I've just made $800 in the last hour. It's simply a mental game to me.

My stat keeping hasn't been as precise as every trade. I keep a total of points profit or loss for each entire night.

It would be an interesting exercise in how it impacts my psychology by posting up stats. Something I'd definitely consider doing though. I'll have a think about it.
 
Yeah, that's another weak point regarding IB, reporting sucks. NinjaTrader has a pretty good reporting system. Lots of stats and ou can export it and manipulate it however you like.
 
CanOz said:
Yeah, that's another weak point regarding IB, reporting sucks. NinjaTrader has a pretty good reporting system. Lots of stats and ou can export it and manipulate it however you like.
Click to expand...

I absolutely detest the fact that if u hold a position through Midnight, all hell breaks loose and P/L figures in TWS get stuffed for that contract get stuffed for the nxt 24hrs.
 
skyQuake said:
I absolutely detest the fact that if u hold a position through Midnight, all hell breaks loose and P/L figures in TWS get stuffed for that contract get stuffed for the nxt 24hrs.
Click to expand...

Yeah, WTF is with that? I can recall swing trading stocks in 2008-09 and i was happily in profit on a bunch of shorts one night, then i got up for a bathroom trip and though "i wonder what the P/L is up to" and did a WTF:eek: when i saw all my profits had disappeared even though the market had not done anything similar...it took me a good ten minutes to literally wake up and figure it out that my P/L had reset...

I think TWS was either designed by IT guys for IT guys that think they know what trading is, or designed by investors types...beats me:confused:
 
How different is the DAX to the FTSE in terms of its price action?

Will it take much adjusting.

I'm thinking it would be handy to learn that too so that I have more opportunity.
 
pavilion103 said:
How different is the DAX to the FTSE in terms of its price action?

Will it take much adjusting.

I'm thinking it would be handy to learn that too so that I have more opportunity.
Click to expand...

Well, that depends what you mean by adjustment.

My annual rate of toilet paper consumption increased fourfold after the DAX tore me a few new ones!
 
I'm certainly open to suggestions.

I'm anticipating putting Monday, Tuesday and Thursday nights aside for trading futures. Pretty much all night locked aside with the screen open and I can work on other trading related things in the meantime.

But I'd be interested to hear thoughts on what other markets are good during these hours.

So far I've got Crude and DAX to look into. I don't need to even trade multiple ones but worth me looking into. No harm.
 
Nice work Pav,

I'll be back at it again this week.

Think the Dax + CL are interesting beasts but lets walk before we can run!

Didn't trade Friday night but found a nice little on in the bonds in the afternoon.

020813 Example triangle entry XT.jpg
 

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