The transition to Futures trading

[tech/a]

Kid you would be better trying to stand on your own two feet rather than trying to copy someone else's style that seems to have zero edge outside of a roaring market.
Trying to shoehorn an intraday pattern into some sort of perfect setup or "same as last time this happened" is just another trap on the path of the learners demise. All this message in a bar stuff would be somewhat laughable if it wasn't actually people wasting real effort, time and hope on such rubbish.

If you cannot spend a few months observing a few markets and every few days have "Aha moments" that you can then go about refining for the rest of your trading career then simply you're looking at the world all wrong - your context is.... to put it bluntly....F#ked and in desperate need of a rethink. (and believe me I've been there!!)

Welcome back.

Ill reply tonight if only to amuse T/H.

The question is related to this chart not the exercise.
Ill comment on that in black also tonight.
In the exercise thread.
Don't miss it!
Why do you repeat repeat yourself??

 

[Caveroute]

Tech, any chance you have a spare moment?

Several trades from the FTSE last night which have left me a little stumped.

Charts are marked.

The first trade, is that a slam dunk long once you see the no supply bar? In that context is the initial stopping volume + no supply bar enough to merit a long? At the time I was actually leaning towards a short based on all the upthrust bars. I entered on the 2nd downthrust and scratched it quickly once I saw the no supply.

The second trade was a fade trade I took. Even in hindsight this morning I like the trade yet it turned out to be a loss. Anything I'm missing?

View attachment 55398View attachment 55399

My 2 cents –
In the first one you have a trend line break, a higher low [a retest] and a failed first entry short – would have preferred a second entry so it’s aggressive but viable.

In the second one, I can see no reason to go short – at all. Your in a strong bull trend, there has been no trendline break so for me shorting is not an option.

 

[kid hustlr]

My 2 cents –
In the first one you have a trend line break, a higher low [a retest] and a failed first entry short – would have preferred a second entry so it’s aggressive but viable.

In the second one, I can see no reason to go short – at all. Your in a strong bull trend, there has been no trendline break so for me shorting is not an option.

yep all good points. You really do learn a lot more from your losing trades!

 

[tech/a]

Kid you would be better trying to stand on your own two feet rather than trying to copy someone else's style that seems to have zero edge outside of a roaring market.

Trying to shoehorn an intraday pattern into some sort of perfect setup or "same as last time this happened" is just another trap on the path of the learners demise. All this message in a bar stuff would be somewhat laughable if it wasn't actually people wasting real effort, time and hope on such rubbish.

If you cannot spend a few months observing a few markets and every few days have "Aha moments" that you can then go about refining for the rest of your trading career then simply you're looking at the world all wrong - your context is.... to put it bluntly....F#ked and in desperate need of a rethink. (and believe me I've been there!!)

In answer to the blue bit go here.
https://www.aussiestockforums.com/forums/showthread.php?t=26799&page=20&p=803248#post803248

As for your question kid

It is/was pretty simple



by the way bottom right of screen is current FTSE Its bullish in my view
Long 6672 stop below that ---

The question is and will be answered soon is will it resist at resistance or take out the low and move lower
Price action going forward will tell this.
Ill look at it as either one is tested.

 

[tech/a]

Up date



Very weak sold long and reversed--short at 6680
Now looking at 6673 and lower how it reacts.

Off to some R/R
Stop at 81 and buy back stop at 70

Will analyse tomorrow.
Time with missus more valuable----

 

[kid hustlr]

I didn't take the long, saw the reversal on the 3m and whilst I was leaning towards the bull side didn't feel like it was a strong enough signal (no significant stopping volume)

Think its in no mans land now.

appreciate the help tech, once again might be reaching for the trade a little instead of letting them reach me!

 

[kid hustlr]

Kid you would be better trying to stand on your own two feet rather than trying to copy someone else's style that seems to have zero edge outside of a roaring market.

Trying to shoehorn an intraday pattern into some sort of perfect setup or "same as last time this happened" is just another trap on the path of the learners demise. All this message in a bar stuff would be somewhat laughable if it wasn't actually people wasting real effort, time and hope on such rubbish.

If you cannot spend a few months observing a few markets and every few days have "Aha moments" that you can then go about refining for the rest of your trading career then simply you're looking at the world all wrong - your context is.... to put it bluntly....F#ked and in desperate need of a rethink. (and believe me I've been there!!)

You're making a number of assumptions which are wrong about how I'm going about things. Don't assume that because I post a couple of questions on an internet forum I'm trying to be a carbon copy of trader xyz. A lot of the techniques which tech/a uses (mainly VSA related) I can relate to and understand. That doesn't mean I like every trade he takes.

If for every 10 posts where I get called a 'poor sucker' I get a reply which helps me out even a little - giving me that 'aha' moment, then the time and effort is worth it.

y

+1

Great input.

 

[Trembling Hand]

You're making a number of assumptions which are wrong about how I'm going about things. Don't assume that because I post a couple of questions on an internet forum I'm trying to be a carbon copy of trader xyz. A lot of the techniques which tech/a uses (mainly VSA related) I can relate to and understand. That doesn't mean I like every trade he takes.

Fair enough. I have actually been keeping up with this thread and the impression I got was that you were struggling to get on top of it. Certainly the bits I got (which clearly is not the whole story) was that your analysis and trade ideas mostly lack context and you are often trying to make something "fit". Something you can see when someone uses a tool that is not original.

But you are probably going fine so I'll butt out.

 

[kid hustlr]

Fair enough. I have actually been keeping up with this thread and the impression I got was that you were struggling to get on top of it. Certainly the bits I got (which clearly is not the whole story) was that your analysis and trade ideas mostly lack context and you are often trying to make something "fit". Something you can see when someone uses a tool that is not original.

But you are probably going fine so I'll butt out.

There's no point me posting winning trades.

No doubt context is the biggest issue I need to work on. In fact it's probably the same for most traders who are trying to move from break even to profitable. Right now I'm sitting here with 3-4 months (not even) of free education from the FTSE. Not that bad.

No point you butting out if you have a sh*t one on the seng and want to take it out on internet randoms then so be it, just be careful you might drop accidently drop a nugget of knowledge along the way.

 

[Trembling Hand]

No point you butting out if you have a sh*t one on the seng and want to take it out on internet randoms then so be it, just be careful you might drop accidently drop a nugget of knowledge along the way.

Actually my posting came from smugness in finding trading particularly easy at the moment. I was going to try and share some of the success but alas it seems the path you are on you are happy with.

 

[kid hustlr]

Actually my posting came from smugness in finding trading particularly easy at the moment. I was going to try and share some of the success but alas it seems the path you are on you are happy with.

Ongoing internet feuds aren't my thing and I'd be lying if I said I haven't learned things off of you and that I wanted to do really well at this some day. That being said when someone gets my sense of character wrong I'm going to defend myself.

Congratulations on all of your successes.

 

[avion]

Woooohooooo, TH is back!!! Thanks Tech, he, he...

TH that international markets banter tread is just about dead without you to chime in....

Please tell us what have you been up to during this absentism from forum, just the same old HSI or was there more (more travels, ...getting married perhaps...)

 

[fiftyeight]

I am sure there are no short cuts to trading. I spent some time looking for them with no success. Thankfully this lesson was free as I learnt a lot from this forum. I learnt from others mistakes.

Can I not keep learning from others mistakes TH? Having an experienced trader critique your trades and guide you through the learning curve will be a lot more efficient than a newbie like me blindly watching hours of NT?

 

[Trembling Hand]

Can I not keep learning from others mistakes TH? Having an experienced trader critique your trades and guide you through the learning curve will be a lot more efficient than a newbie like me blindly watching hours of NT?

Yeah to some degree and then to only a small initial effect. But nothing beats knowing what you want to trade and how. If a discretionary trader that is live doesn't know exactly what you are trying to trade well then you shouldn't be trading with real money and therefore should be straight back onto sim gaining more experience until you do.

Its really that simple. Keep looking until you understand then trade. There is no "way" to trade, no "this guy said this works this way so thats what I do". You will shoehorn rubbish into everything that comes along because you are not reading signals you are trying to fit a square peg into an ever changing shape. IMO. (thats my six pence

 

[avion]

l.... then you shouldn't be trading with real money and therefore should be straight back onto sim gaining more experience until you do.

But part of the learning process is getting punched into your mouth too, the bitter aftertaste and choking feeling after loosing day, finding the strength to recover only to become stronger, ...what a journey!

 

[kid hustlr]

But part of the learning process is getting punched into your mouth too, the bitter aftertaste and choking feeling after loosing day, finding the strength to recover only to become stronger, ...what a journey!

Yeah but perhaps having someone blast you on the internet is their way of trying to save you an expensive lesson

 

[avion]

...in that case ASF is full of saints!

 

[fiftyeight]

But part of the learning process is getting punched into your mouth too, the bitter aftertaste and choking feeling after loosing day, finding the strength to recover only to become stronger, ...what a journey!

I have had enough punches in the face from poker.

I much prefer a "friendly" blast from someone on a forum, does much less damage to the bankroll.

Still being in the "initial" stage of the learning curve ill take listen to any advice. Ill figure out if it useful later

 

[tech/a]

Bit of FTSE.

 

[fiftyeight]

How much of the move did you to catch Tech?