The transition to Futures trading

[kid hustlr]

As I mentioned the other day I'm noticing my most comfortable trade is to fade highs/lows which appear to have failed.

I note this example from TH a few weeks back:

Not if you had a 1 min chart.

View attachment 53506

Enter at the either of the reversal bars on the retest. Pick your flavour stop.

See the picture below for my question. With these fade trades, do we have to wait for a set up/reversal bar or can we just enter and use a tight stop? The risk is going to be super low if we can get a fill just a couple of ticks from where our stop is.

 

[payday]

These are some of my favourite trades too. What I do is wait for the second candle to break under 50% of the entire move of the the bullish dominant candle in the first area that you have circled. This makes for a very high percentage play and with a decent sized order makes for a very profitable few minutes (hours). I tend to trade from the 30 minute charts though and not as short term as you. That second circled area is also another good place to have entered as the second candle broke down past the 50% mark of the previous candle.

 

[tech/a]

I personally trade them differently.
Don't have charts here so will give my view tonight.
My 2 contracts are still open.

 

[kid hustlr]

These are some of my favourite trades too. What I do is wait for the second candle to break under 50% of the entire move of the the bullish dominant candle in the first area that you have circled. This makes for a very high percentage play and with a decent sized order makes for a very profitable few minutes (hours). I tend to trade from the 30 minute charts though and not as short term as you. That second circled area is also another good place to have entered as the second candle broke down past the 50% mark of the previous candle.

Interesting ideas payday, I may experiment with this. I don't think the time frame should matter for something like this.

I personally trade them differently.
Don't have charts here so will give my view tonight.
My 2 contracts are still open.

tx mate, look forward to it

 

[Trembling Hand]

As I mentioned the other day I'm noticing my most comfortable trade is to fade highs/lows which appear to have failed.

I note this example from TH a few weeks back:



See the picture below for my question. With these fade trades, do we have to wait for a set up/reversal bar or can we just enter and use a tight stop? The risk is going to be super low if we can get a fill just a couple of ticks from where our stop is.

The bar numbered 2 is way too late for me to be entering a trade. I would be exiting any short on that bar and the few bars after. Considering yesterdays context with all markets so strong its a reasonable set up but by delaying all you have done is stuffed up the R:R, at best you would think that kind of play, given the market, was only ever a 1:2. I wouldn't even enter on bar 1 without feeling somewhat uneasy.

 

[kid hustlr]

Gee bullish first half hour on the Z

 

[Caveroute]

The bar numbered 2 is way too late for me to be entering a trade. I would be exiting any short on that bar and the few bars after. Considering yesterdays context with all markets so strong its a reasonable set up but by delaying all you have done is stuffed up the R:R, at best you would think that kind of play, given the market, was only ever a 1:2. I wouldn't even enter on bar 1 without feeling somewhat uneasy.

View attachment 54213

My 2 cents -

This is a classic trend reversal pattern, trendline break, lower high re-test, another double top [bonus xtra].

It didn't reverse, just went sideways into a trading range, often the case.

I agree, a good R:R trade - even if it didn't really trigger here.

Whoops, sorry TH replied to the wrong note.

 

[kid hustlr]

LOLOLOL have the worst day ever then just as I take a long set up apparently 2 missiles go off

 

[CanOz]

Fark....

(RU) Russia Defense Ministry has detected the launch of 2 ballistic missiles in the Mediterranean - RIA- Missiles seen headed towards the East Mediterranean - Source TradeTheNews.com

 

[Caveroute]

I personally trade them differently.
Don't have charts here so will give my view tonight.
My 2 contracts are still open.

From last night ?

Nice one.

 

[kid hustlr]

I cannot get over that. seriously wtf. luckily only lost 7.5 points but wtf I could not have timed that worse

 

[CanOz]

I cannot get over that. seriously wtf. luckily only lost 7.5 points but wtf I could not have timed that worse

(SY) Syria gas pipeline has been blown up - Source TradeTheNews.com

There ya go....

 

[skyQuake]

Apparently Russia detected some ballistic missile launches.

Tech you sly dog you KNEW!

 

[CanOz]

TradeTheNews.com EU Market Update: Alleged test launch of ballistic missiles in Mediterranean spooks markets - Source TradeTheNews.com

Well it certainly did give them a spook..lol

 

[kid hustlr]

Can et. al whats the best way to get updates on random political occurences/events like what happened yesterday.

Obviously you can pay for the sqwauk box and anything important gets read over the wires but is there a free online service that gives updates every 5 mins or so?

 

[tech/a]

Apparently Russia detected some ballistic missile launches.

Tech you sly dog you KNEW!

Sorry
Been away---- Black ops.

 

[havaiana]

Can et. al whats the best way to get updates on random political occurences/events like what happened yesterday.

Obviously you can pay for the sqwauk box and anything important gets read over the wires but is there a free online service that gives updates every 5 mins or so?

forexlive

Covers everything that will move forex so they report on commod's, indices, bonds etc too. Updates aren't as quick as a paid service, but quick enough considering. You can also have it set for auto updates. I can't recall a time that something significant has happened to the market and they have not had an accurate answer posted within a couple of minutes. They watch the paid services and seem to be pretty well connected to the market chatter. For example i saw the everbright securities fat finger posted there before i saw it anywhere else. They also highlight speeches and stuff that will be happening that aren't on a lot of calenders.

Would also like to know of any other resources myself

 

[havaiana]

Just to add, not sure what time the market reacted, but this is the time stamp of the mediterranean missile thing you were caught up in

"September 3rd, 2013 09:00:34 GMT'

http://www.forexlive.com/blog/2013/09/03/russian-defence-ministry-detects-two-ballistic-objects-fired-toward-eastern-mediterranean/

They would have posted the heading quickly first then updated it as more info come in, not sure if the time stamp is the initial posting time, or time of last update

 

[kid hustlr]

ta bud

 

[tech/a]

I personally trade them differently.
Don't have charts here so will give my view tonight.
My 2 contracts are still open.

My rules.

Not saying they are the best rules just mine!



Meant to mention I only tend to use this with lower time frames Under 5 min as the move is generally short.
Any longer and its all over.