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The transition to Futures trading

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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:

Trembling Hand said:
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.
Click to expand...

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.

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

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

tech/a said:
I personally trade them differently.
Don't have charts here so will give my view tonight.
My 2 contracts are still open.
Click to expand...

tx mate, look forward to it
 

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.

 

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.
 
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
Click to expand...
 
I cannot get over that. seriously wtf. luckily only lost 7.5 points but wtf I could not have timed that worse
 
TradeTheNews.com EU Market Update: Alleged test launch of ballistic missiles in Mediterranean spooks markets - Source TradeTheNews.com
Click to expand...

Well it certainly did give them a spook..lol
 
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
 
tech/a said:
I personally trade them differently.
Don't have charts here so will give my view tonight.
My 2 contracts are still open.
Click to expand...

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.
 
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