The transition to Futures trading

[CanOz]

That down move on the FTSE reached the support area just below 6540. It seems a high percentage play is to get the stop to BE and then let it run, put a buy order around the 6540.

I can see how a lot of people get shaken out and don't get the benefit of such a move.

I see this happening again and again, getting out for 10 or so points profit only to see it take out stops and then go lower to the support level.

Seems especially true in an instance like last night when it had fallen from very well establish resistance around 6590 or so.

I think I'll try a bit more of this set and forget. Get it to BE and let it make me 30-40 points or get taken out at BE.

Then it rallied up from that support level but I was in bed by then.

It's called a "runner"

 

[pavilion103]

It's called a "runner"

Yeh....

 

[CanOz]

Yeh....

Capture the smaller moves with the first couple of contracts and the meat of the move with the runner. You could set the platform to flatten at a certain time, near the close. All in, scale out. You must have a pretty good cushion now, enough margin to trade a few more contracts?

 

[pavilion103]

Interesting.

I've got enough margin. Just not 100% sure of my capabilities yet to be trading too heavy.

Plenty to think about in terms of these sorts of strategies.

 

[CanOz]

Interesting.

I've got enough margin. Just not 100% sure of my capabilities yet to be trading too heavy.

Plenty to think about in terms of these sorts of strategies.

Tech, you trade multiples sometimes, do you scale out and leave the runner?

 

[Trembling Hand]

Tech, you trade multiples sometimes, do you scale out and leave the runner?

Better to have a few contracts and move your stop to 10 point in profit and let them all run.

You trade 3 contracts and cut 2 short and let only 1 go all the way you will end up catching runners that hardly lift your expectancy.

Man up and just hang on!

 

[tech/a]

Tech, you trade multiples sometimes, do you scale out and leave the runner?

I'm more like T/H in regard to holding on.

So no.

If I'm going to let a trade loose then once I'm at B/E or get enough to trail a stop in some profit then let it go.
I've made most on those I've let go for days.
Frankly if you can find a longer term top or bottom and you have a few on it you'll do really well.

So what I should be doing is -----
Place at the appropriate time a set and forget type longer term trade in the direction of the expected long term move.
Then trade separately the short term setups.
Even these you can trade form longer term intra day to minutes.

 

[Caveroute]

Back to grim reality.

Managed to get some of that spike on the open - good start.

now short at 6597.5, stop at b/e

 

[Caveroute]

Back to grim reality.

Managed to get some of that spike on the open - good start.

now short at 6597.5, stop at b/e

Out at 6584.

 

[pavilion103]

A little consolidation here

 

[Caveroute]

short 6574

- - - Updated - - -

short 6574

out, caught in slips, 6574

 

[pavilion103]

short 6574

- - - Updated - - -

out, caught in slips, 6574

Yeh I took that one too. Got out 71 as it struggled. Had a new short at 66 but cancelled now.
I won't be on for the rest of the night. Good luck!

 

[Caveroute]

Yeh I took that one too. Got out 71 as it struggled. Had a new short at 66 but cancelled now.
I won't be on for the rest of the night. Good luck!

ok txs, none of those pesky stop jumps yet .....................

 

[tech/a]

Short 96 FTSE

 

[tech/a]

Stopped 02
That was a dumb trade!

 

[tech/a]

Short again 02




Stop at B/E
Doesn't feel right tonight.

 

[Caveroute]

Short again 02


View attachment 53828

Stop at B/E
Doesn't feel right tonight.

Should feel aright now.

I reckon you were about 30mins to early, the second entry was much better.

I was in two minds,so did nothing.

 

[kid hustlr]

Had to stay awake til midnight.

 

[kid hustlr]

Took the long @ 6547. felt like it had a go at the lows on weak volume then we got the high volume up bar. Used the inside bar next up as my entry.

Initial stop was 6540. New stop 6543, got to go to dinner so gonna let it ride for the next hour or so!

 

[Caveroute]

long 6552.5, stop 6546.5