Why would you feel like a dingus? Did you follow your plan when you took the profit? Was that your target or did you break your rules (or even worse - you don't have any rules)? Just because it keeps running without you on board does not mean you have done anything wrong. Think about this - what if price reversed right at 6430 and is up 100 points from there. Would you still feel like a dingus or like a trading god? I make trades like this day in day out - small singles here and there and I turn quite a nice profit each and every day (mostly). Occasionally I might hit a six but they are few and far between. For example - just the other day I entered a AUD futures short at 0.92 and covered at 0.9180 - hit my target and I took the profits. Of course - about 5 minutes later it plunged and "if" only I held on for another hour or 2 I would have been up over 70 pips and not the 20 pips I covered at. Hell - if I still held onto it until today I would have been up over 200 pips. Doesn't bother me at all. That's just part and parcel of trading.
The transition to Futures trading
- Thread starter pavilion103
- Start date
Why would you feel like a dingus? Did you follow your plan when you took the profit? Was that your target or did you break your rules (or even worse - you don't have any rules)? Just because it keeps running without you on board does not mean you have done anything wrong. Think about this - what if price reversed right at 6430 and is up 100 points from there. Would you still feel like a dingus or like a trading god? I make trades like this day in day out - small singles here and there and I turn quite a nice profit each and every day (mostly). Occasionally I might hit a six but they are few and far between. For example - just the other day I entered a AUD futures short at 0.92 and covered at 0.9180 - hit my target and I took the profits. Of course - about 5 minutes later it plunged and "if" only I held on for another hour or 2 I would have been up over 70 pips and not the 20 pips I covered at. Hell - if I still held onto it until today I would have been up over 200 pips. Doesn't bother me at all. That's just part and parcel of trading.
- Joined
- 14 December 2010
- Posts
- 3,472
- Reactions
- 248
What was your setup?
Trembling Hand
Can be found on the bid
- Joined
- 10 June 2007
- Posts
- 8,852
- Reactions
- 204
Pav two days ago you were talking about holding over night. You know that overnight margin is considerably more? X2 on most contracts.
tech/a
No Ordinary Duck
- Joined
- 14 October 2004
- Posts
- 20,400
- Reactions
- 6,317
Here is a perfect example of jumping over a price level.
Re the latest discussion on stops.
Jumped straight through it.
Back filled now but it DOES happen.
Re the latest discussion on stops.
Jumped straight through it.
Back filled now but it DOES happen.
- Joined
- 9 June 2011
- Posts
- 1,926
- Reactions
- 480
Agreed payday. I had my reasons for exiting but perhaps im a little jumpy at times. all part and parcel.
T/H with a monthly result like that you should put up the extra margin for pav!
T/H with a monthly result like that you should put up the extra margin for pav!
- Joined
- 14 December 2010
- Posts
- 3,472
- Reactions
- 248
Obviously I'll either need to hold less Aussie stocks or put more money in my account.
- Joined
- 4 December 2008
- Posts
- 486
- Reactions
- 281
Short at 23. I advise others to go long.
- Joined
- 1 May 2007
- Posts
- 2,904
- Reactions
- 52
only have access to IB atm, what figure do u guys have for the 6:15pm low?
My chart looks different:
My chart looks different:
- Joined
- 14 December 2010
- Posts
- 3,472
- Reactions
- 248
What a load of crap this is.
As obvious short as you'd like.
If this keeps going and today smashes down I will be pissed!!!
As obvious short as you'd like.
If this keeps going and today smashes down I will be pissed!!!
- Joined
- 4 December 2008
- Posts
- 486
- Reactions
- 281
6411.5 for me.
- Joined
- 4 December 2008
- Posts
- 486
- Reactions
- 281
Out at 6395. Vol died away after that spike down. Probably doesn't mean much, but I'm happy to put some monopoly money in the bank for a change. This should clear out my previous small losses, then some.
- - - Updated - - -
I'm on sim by the way, I thought the feeds were the same, but maybe not.
- - - Updated - - -
I'm on sim by the way, I thought the feeds were the same, but maybe not.
CanOz
Home runs feel good, but base hits pay bills!
- Joined
- 11 July 2006
- Posts
- 11,543
- Reactions
- 519
6397....
tech/a
No Ordinary Duck
- Joined
- 14 October 2004
- Posts
- 20,400
- Reactions
- 6,317
Dont know which low you are referring to.
This is a 1 min of the "Z" not the Index.
Showing the closest low to 6.30 I have.
Its not like either of yours??
Click to enlarge so you can see it!
The figures are in the top left.
Ah I see I'm same as L/W
Nice trade by the way.
Support at the low.
This is a 1 min of the "Z" not the Index.
Showing the closest low to 6.30 I have.
Its not like either of yours??
Click to enlarge so you can see it!
The figures are in the top left.
Ah I see I'm same as L/W
Nice trade by the way.
Support at the low.
Attachments
CanOz
Home runs feel good, but base hits pay bills!
- Joined
- 11 July 2006
- Posts
- 11,543
- Reactions
- 519
My chart is the same as that...
- Joined
- 12 January 2008
- Posts
- 7,169
- Reactions
- 17,744
Nice trade Lone Wolf. I suggest you document the setup and add it to your playbook.
btw: Canoz, you'll enjoy Bella's latest book, "The Playbook". I know you liked his first one, "One Good Trade".
btw: Canoz, you'll enjoy Bella's latest book, "The Playbook". I know you liked his first one, "One Good Trade".
CanOz
Home runs feel good, but base hits pay bills!
- Joined
- 11 July 2006
- Posts
- 11,543
- Reactions
- 519
This market is too short...
tech/a
No Ordinary Duck
- Joined
- 14 October 2004
- Posts
- 20,400
- Reactions
- 6,317
Have 2 a 26 and just added 1 at 402---short
CanOz
Home runs feel good, but base hits pay bills!
- Joined
- 11 July 2006
- Posts
- 11,543
- Reactions
- 519
...got four books on the go so i need to clean up a few first
Similar threads
