The transition to Futures trading

[pavilion103]

There it goes...

6540 entry

 

[Caveroute]

There it goes...

6540 entry

Inertia rules - didn't get past Can's thin area.

 

[pavilion103]

Inertia rules - didn't get past Can's thin area.

BE trade.

Man, I'm spending too much time at the screen. Might allocate myself a couple of hours a night.

 

[CanOz]

The market filled that area right in, so an area that had previously rejected value there, has now been accepted as value.

 

[tech/a]

BE trade.

Man, I'm spending too much time at the screen. Might allocate myself a couple of hours a night.

Pav
Consistent small grabs
Gives you a life
Gives you confidence
Gives you control.
If I think there is a potential strong move then Ill get to B/E and just leave it
with either a target or open trade to go long term.---then go to bed and forget about it.
If you set stops ---no issues.

If your stopped no issue.
if you carry it then you've indeed done well.

Its just a matter of setting up your business so it WORKS FOR YOU!

 

[Trembling Hand]

If you set stops ---no issues.

If your stopped no issue.

Just a little bit on this. Stops on futures are not 100% reliable, depends on the exchange but they are not always true "at Market" orders. It is extremely unlikely event but I've seen about 5 times in my trading via IB where something has happened and they didn't execute.

Just something to have in the back of your mind for position sizing and longer term trading. If you are not running close to the edge then its just one of those thing that happens. But it can happen.

 

[pavilion103]

Pav
Consistent small grabs
Gives you a life
Gives you confidence
Gives you control.
If I think there is a potential strong move then Ill get to B/E and just leave it
with either a target or open trade to go long term.---then go to bed and forget about it.
If you set stops ---no issues.

If your stopped no issue.
if you carry it then you've indeed done well.

Its just a matter of setting up your business so it WORKS FOR YOU!

Yes. Agree completely.

It is actually taking away my free time and I'm going to bed tired and waking up tired from too much time looking at the screen.

I'm trying to do too much too quickly. I need to slow down, take a few good opportunities, build confidence and enjoy my nights!

 

[pavilion103]

What do people think of current market conditions?

Is this a particularly difficult time when things are choppy and there is no clear daily trend?

Are trending conditions, like earlier in the year, ideal for these markets?

Or doesn't it matter too much?

I'm finding individual trades ok. But confused with discerning overall market conditions and thus more difficult to have a long or short bias.

 

[CanOz]

What do people think of current market conditions?

Is this a particularly difficult time when things are choppy and there is no clear daily trend?

Are trending conditions, like earlier in the year, ideal for these markets?

Or doesn't it matter too much?

I'm finding individual trades ok. But confused with discerning overall market conditions and thus more difficult to have a long or short bias.

also, we're entering into summer doldrums. Good time to get away from the market for a while and recharge. Don't burn yourselves out trading thin summer markets that chop around all day...

I mentioned this before, maybe people just don't read what i write because I'm not a Prop trader or Tech / A...but its summer time, the heart of August. Volumes have dropped off substantially on most exchanges. This is normal and why most people take this time off completely and don't trade. I suspect Asia is a little more normal...

 

[kid hustlr]

I mentioned this before, maybe people just don't read what i write because I'm not a Prop trader or Tech / A...but its summer time, the heart of August. Volumes have dropped off substantially on most exchanges. This is normal and why most people take this time off completely and don't trade. I suspect Asia is a little more normal...

I remember you writing this fwiw.

Doesn't mean there aren't opportunities though, maybe they just show their heads in different ways.

 

[CanOz]

I remember you writing this fwiw.

Doesn't mean there aren't opportunities though, maybe they just show their heads in different ways.

For sure, just hate to see you guys get chopped up like i used to before i knew what a thin market was. Some aren't looking at the book either, so you wouldn't know how thin it is at times.

 

[pavilion103]

I agree.

Think I might pull it back a little but still get involved a bit.

When does this period usually end?

 

[CanOz]

I agree.

Think I might pull it back a little but still get involved a bit.

When does this period usually end?

Usually after labor day weekend, which is the first Monday in September in the US.

 

[tech/a]

Just a little bit on this. Stops on futures are not 100% reliable, depends on the exchange but they are not always true "at Market" orders. It is extremely unlikely event but I've seen about 5 times in my trading via IB where something has happened and they didn't execute.

Just something to have in the back of your mind for position sizing and longer term trading. If you are not running close to the edge then its just one of those thing that happens. But it can happen.

Yes you are absolutely correct it has happened to me twice.
Each time I was watching the screen. When it runs really fast
it can jump over the top of you. Particularly if your trading a contract or two.

PAV

Can makes good points

Re market conditions. Chop should give you more opportunities as trades conform to S&R more often and telegraphed by volume--well I see it.
Just shorten up the time frame.
Check on your timing -- entry.
These are times when entry can mean tight stops will work or if you get the timing wrong you'll get Whipped!

 

[Caveroute]

Yes you are absolutely correct it has happened to me twice.
Each time I was watching the screen. When it runs really fast
it can jump over the top of you. Particularly if your trading a contract or two.

PAV

Can makes good points

Re market conditions. Chop should give you more opportunities as trades conform to S&R more often and telegraphed by volume--well I see it.
Just shorten up the time frame.
Check on your timing -- entry.
These are times when entry can mean tight stops will work or if you get the timing wrong you'll get Whipped!

With regards to the stops -

Are we talking stop or stop limit orders here ?

Stop orders should always execute, stop limit orders not necessarily - scary.

 

[tech/a]

With regards to the stops -

Are we talking stop or stop limit orders here ?

Stop orders should always execute, stop limit orders not necessarily - scary.

Well they don't!

 

[Trembling Hand]

With regards to the stops -

Are we talking stop or stop limit orders here ?

Stop orders should always execute, stop limit orders not necessarily - scary.

Nah thats not true. Lots of reason why they don't. Especially if you are using IB.

 

[skyQuake]

Nah thats not true. Lots of reason why they don't. Especially if you are using IB.

Lots?

 

[tech/a]

Lots?

For me twice in a few thousand trades.
each time it was when there was a huge spike DOWN where price fell 50-100 ticks in the FTSE in a few minutes.
Rare in itself let alone hoping over my stop.

HSI must be more often I would have thought!

 

[Trembling Hand]

Lots?

Lots of reasons. Especially if you are trading a market that doesn't have native stop orders at the exchange, which i think is about half of them anyway. So you are relying on the brokers stimulated stops software/hardware. Works great till that 1 time in 1000 when it doesn't.

The other problem is that even some exchanges have @ market orders but also have rules about allowing orders past a certain % from last tick. When you have a sweep the order can be trigged but the broker has set it as a Limit stop and it just doesn't hit the market fast enough.

Remember when that power cable got taken out in the centre of Sydney? It also took out most of the brokers server connections. THE ASX doesn't have native stops so all the stops were on the disconnected servers. Half the market could still trade and half couldn't for a bout 3 hours I think. Was very messy when it came back online.

Etc