The transition to Futures trading

[tech/a]

You chasing it Tech?

Think its sustained.
Have one at this time wide stop--well for me
13 ticks.

Its a crap entry I know---now!!
Might not be a little later!

 

[CanOz]

Think its sustained.
Have one at this time wide stop--well for me
13 ticks.

Its a crap entry I know---now!!
Might not be a little later!

Pretty bullish move i guess. Caught me off guard, i was long on the FESX, then thought it looked like a trap so i exited and got short at an iceberg, then it swept everything, me included.

 

[Boggo]

Short on Z at 6580.5

 

[CanOz]

Quite a stop run on the DAX there...

 

[Boggo]

Short on Z at 6580.5

Stop tightened to 6567.5

Edit, done

 

[tech/a]

Stopped last night.
Thought it was sustainable!

 

[kid hustlr]

Gone for it in a big way.

Tech, TH, anyone, any thoughts?

 

[kid hustlr]

Gone for it in a big way.

Tech, TH, anyone, any thoughts?

View attachment 54443

Just to summarise this, I bought them back @ 965 for a nice little win, nothing major.

I remember a few weeks back when I got fisted over the missile launch thing on the ftse and then I ran through the charts with you guys and you said me trying to buy the dip was stupid as a lot of longs get caught on that chart pattern where it grinds down over time making lower highs.

Happy with myself that in this case I was able to recognise it again and do the opposite.

My major issue is whether I should have perhaps held onto them (or maybe some) in the hope we get the big break lower?

 

[CanOz]

Why do you have to decide now? Can you wait until the market reaches your "line in the sand" and then watch the depth and see who is winning? If that level is going to be rejected, which is at least likely initally, then there should be some responsive buyers and selling into the level may diminish somewhat. If its going to break, then you should see the market tapping on the level (in the depth) until it pops...Or depending on how thick your market is, you could see a lean, where the market refuses to go offer...

 

[kid hustlr]

Why do you have to decide now? Can you wait until the market reaches your "line in the sand" and then watch the depth and see who is winning? If that level is going to be rejected, which is at least likely initally, then there should be some responsive buyers and selling into the level may diminish somewhat. If its going to break, then you should see the market tapping on the level (in the depth) until it pops...Or depending on how thick your market is, you could see a lean, where the market refuses to go offer...

Obviously I can take it as it comes and that's actually what I did, I was just inquiring as to how the guys who generally trade the charts would view this set up, would they hold for the long haul or take the profit available. As you said though, and this is so true of so much in trading, 'it depends'.

The problem with trading something like XT 'off the charts' is, apart from the fact you don't get many chart set ups, it doesn't take much for your expectation to be smashed. For example If I'm bidding 95.965 and don't get them because one big order comes and lifts 95.970, all of a sudden for me to get out I might need to pay up the next price.

 

[CanOz]

Obviously I can take it as it comes and that's actually what I did, I was just inquiring as to how the guys who generally trade the charts would view this set up, would they hold for the long haul or take the profit available. As you said though, and this is so true of so much in trading, 'it depends'.

The problem with trading something like XT 'off the charts' is, apart from the fact you don't get many chart set ups, it doesn't take much for your expectation to be smashed. For example If I'm bidding 95.965 and don't get them because one big order comes and lifts 95.970, all of a sudden for me to get out I might need to pay up the next price.

Hmmm, its a pretty thick market?

Nevermind, i'll try and load a workspace up for it, curious to see how the VWAPs plot on it and what the depth is like.

 

[kid hustlr]

Hmmm, its a pretty thick market?

Nevermind, i'll try and load a workspace up for it, curious to see how the VWAPs plot on it and what the depth is like.

I'd actually be interested to see how the vwaps plot on it fwiw.

It'sa very thick market until an important data release comes out or a bomb goes off haha

 

[CanOz]

I'd actually be interested to see how the vwaps plot on it fwiw.

It'sa very thick market until an important data release comes out or a bomb goes off haha

Heres a look at the TPO, the VWAPs and the depth and sales...

 

[ThingyMajiggy]

Hey Can how did you get the colours changed just on the numbers bits of the bids and offers, I see you have a lighter blue and a brighter red where the orders are on bid and offer, tried to do that yesterday but must have missed it

 

[CanOz]

Hey Can how did you get the colours changed just on the numbers bits of the bids and offers, I see you have a lighter blue and a brighter red where the orders are on bid and offer, tried to do that yesterday but must have missed it

In the settings, under appearance, bid and ask...you select the quantity that you want to highlight. I just happened to have it set on a very low value while in the that instrument. I generally use it to highlight size on the bid or offer.

I would show you a practical example but my data provider is really being an **shole today....

 

[ThingyMajiggy]

In the settings, under appearance, bid and ask...you select the quantity that you want to highlight. I just happened to have it set on a very low value while in the that instrument. I generally use it to highlight size on the bid or offer.

I would show you a practical example but my data provider is really being an **shole today....

Ohh duuh, didn't even think of that cheers.

Who's your data provider?

 

[kid hustlr]

Don't have time to post a chart but the FTSE weekly is really starting to get back up towards the highs. Perhaps a chance to establish a longer term position?

 

[tech/a]

Don't have time to post a chart but the FTSE weekly is really starting to get back up towards the highs. Perhaps a chance to establish a longer term position?

Yes its looking like a time to develop something longer term.

Its pretty obvious the Yanks don't want to stop stimulus
---they know the catastrophic consequences.

 

[CanOz]

FTSE100, D,W,M...D is the futures contract, the lower ones the index.

 

[kid hustlr]

Yes its looking like a time to develop something longer term.

Its pretty obvious the Yanks don't want to stop stimulus
---they know the catastrophic consequences.

Hmmm sounds like someone has a bullish undertone