The transition to Futures trading

[pavilion103]

Thought you kept the first one live---

We both were filled and I still have the first!
What a clever Dick---err Duck.

Didn't have the balls to hit it with a second contract. I covered incase it found a little support and then put in place a new short for if it fell below.

I'm treading just a little carefully!

 

[pavilion103]

Didn't have the balls to hit it with a second contract. I covered incase it found a little support and then put in place a new short for if it fell below.

I'm treading just a little carefully!

Still mainly about learning for me, but happy to make a decent buck along the way!!

 

[tech/a]

Didn't have the balls to hit it with a second contract. I covered incase it found a little support and then put in place a new short for if it fell below.

I'm treading just a little carefully!

Pav

The first contract was well in the money.(Around 80 ticks)
The risk on the second was a 35 tick risk. If it was taken up with a further move with momentum.
So I set it and went to bed! no need to have concern---well I didnt think so.
Thses moves with so much power and momentum are rare!! Position trade paradise.

Anyway Ive sent you a PM with regard to how Im looking at it from here.

 

[pavilion103]

Taken this setup early this evening. Initial stop already moved to limit risk.

First trade since my June contract debacle on Friday night. By the way thanks for the help with that guys. Much appreciated

 

[pavilion103]

Good start - 60 ticks in 30 mins. Stop at breakeven. Can relax now.

 

[tech/a]

Haha love it.

FTSE up 36----- bored so I take a sauna.
Then your post!

Perfect timing!

 

[pavilion103]

Haha love it.

FTSE up 36----- bored so I take a sauna.
Then your post!

Perfect timing!

No way was I going to miss a move tonight. Made sure I was in front of the screen for the first opportunity.

Might read Weis book while I've got this open.

 

[tech/a]

No way was I going to miss a move tonight. Made sure I was in front of the screen for the first opportunity.

Might read Weis book while I've got this open.

Damn I've missed the trade of the century.

 

[pavilion103]

Damn I've missed the trade of the century.

haha

It did feel good to get this going in the right direction immediately

I've been seething over the weekend about not holding my other one longer. Not sure how I'll play this one.

I hope the market gets belted!!!

 

[tech/a]

Well Done Pav
Most expensive Sauna I've had in a while.

Just got on this though
Will just have a short term trade
I think you got the best of this move.

Closed 10 ticks X 2

 

[pavilion103]

I thought $20 a week at Goodlife gym was expensive!!

Because I'm out of whack with the long term chart, I'm going to have to trade this differently I think.


I'm not sure your thoughts but I really like the idea of exiting near a low (say 4 or 5 ticks near support) and then placing a new sell stop and a new initial stop. Obviously not a longer term play.

This way I really limit the risk of giving back profit on the upside (in the most vulnerable area near support), but am in a great position to capitalise on a new break down if I can identify it.

Not sure about the merits of this idea, but it appeals to me.

- - - Updated - - -

One other big thing I'm noticing is the popping of the stops.

When I'm trading a breakout, having the entry a few ticks away has been much better than 1 or 2 ticks.

Saved me on a couple of false breaks.

 

[DJG]

Well done to both Pav & Tech. I'll be watching eagerly to see how they unfold

 

[pavilion103]

My trade setup.

I exited near the low after the big volume bar and then got in again in that tight little consolidation before it went lower.

 

[Lone Wolf]

Sim traded this. Got home from work too late for the first break, but caught the break of the large wedge at 6026 and rode it down to 5989.

But if trading was always this easy I wouldn't be doing this on the sim. Nice work Pav.

 

[DJG]

Good trading guys, regardless of sim or real account. Especially your nice double whammy Pav. - Appears you sold out pretty damn close to the maximum of profit at the low and didn't even give back any profits, then stuck it to them with the re-enter after the consolidation

Also noticed your above post about placing your entry stop's a few ticks extra than normal. Seems your BUY STOP paid off by having it a couple of extra ticks higher, therefore not being triggered. Textbook!

 

[pavilion103]

Closed out 6004 while I was asleep

 

[tech/a]

Closed out 6004 while I was asleep

I particularly like the chart analysis (That which I can see)

The importance of the un folding story on the chart and the taking advantage of it
has been rewarded.

 

[kid hustlr]

Enjoying the thread boys.

Mind if I get your thoughts on the 10 year aussie bond mkt? Only posting because I value you're opinion.



the huge volume spikes in the daily are contract rollover.

EDIT: I generally find that the bond markets don't chart 'that well' when compared to say an equity index or a big commodity due to the smaller ranges, that being said there still looks to be some good break out opportunites, the volatility has really picked up over the last several weeks

 

[tech/a]

Enjoying the thread boys.

Mind if I get your thoughts on the 10 year aussie bond mkt? Only posting because I value you're opinion.

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the huge volume spikes in the daily are contract rollover.

EDIT: I generally find that the bond markets don't chart 'that well' when compared to say an equity index or a big commodity due to the smaller ranges, that being said there still looks to be some good break out opportunites, the volatility has really picked up over the last several weeks

Which timeframe?

 

[kid hustlr]

Which timeframe?

probably more so the 15 min and or the 60 min as its more applicable to trading the depth, the daily was more for context