The transition to Futures trading

[pavilion103]

Interesting to see if it pushes up a little today and over the next couple of days. If it moves into the 6600-6650 area on low volume and bearish behaviour, I will look for a position trade shorting opportunity.

 

[Trembling Hand]

Nothin' doin'

Perfect non-example!!

 

[kid hustlr]

I've been a bit lackluster on the FTSE lately to be honest. Plenty of other stuff going on and just haven't had the drive to put in the hours given how many hours I'm doing during the day. Looking forward to a break over xmas and then hitting it again in the new year

 

[pavilion103]

Does anyone else feel that the FTSE would really come off from here?

I'm looking to get short.

 

[tech/a]

Could have been earlier for position trade.
But there will be trades.

 

[pavilion103]

Agree. Shame I was gone at the time I was gone. I saw what was happening but couldn't get on.

I've taken 1 contract tonight. We'll see how it plays out.
As you said, the position trade was there to be taken at the top, not today.

 

[pavilion103]

A good night to come back on.
I had a feeling about this at the start of the night.
Looked bearish and look at it struggling to push up at resistance. 3 attempts after the initial high.

What I also like is that if it holds below 6460ish there is a little bit of clear air to push down.

 

[pavilion103]

A nice push down now.
This is quite interesting on the daily chart.
Some space below.
We'll see how this closes the day.

 

[pavilion103]

A bit annoyed because I took some funds out of my account and have some in CBA short. Placed a 2 contract order initially but it didn't execute. The exact reason was so I could close one if I'm in this position and hold another over night.

We'll see how it plays out!

 

[pavilion103]

I don't trade the DJIA but looking at the chart does anyone else think that it looks like a great time for a position trade short?

 

[kid hustlr]

Nice entry!

How did you manage it from there? Looks like it ripped back up pretty viciously on the US open before sliding off again

 

[pavilion103]

Not much management!
More set and forget.
I didn't get taken out when it pushed back up.
Once I was in I left it.
If I had the 2 contracts that I wanted I would have exited one around 6430-40.

Currently about 50 points in profit.

I think the risk to reward is reasonable.
I see some clear air down to 6300.
Yesterday's bar pushed down on stronger volume and has closed near the low.
US looking a bit weak to me.
Potential talk of stimulus being cut back. If anything is announced this could help too.

I'm surprisingly unemotional about this because I've already made the decision to hold.
If I give it all back well bad luck. I'd regret getting out too soon more than giving back profit.

Would have preferred a position trade from the top but this could be ok.

Trade management.... Either I get taken out or it pushes down near 6300 and I reassess.

 

[pavilion103]

I saw the entry as very clear last night and the fact that there was potential to the downside was a positive.

 

[Trembling Hand]

US looking a bit weak to me.
Potential talk of stimulus being cut back. If anything is announced this could help too.

I'm expecting a wild ride around the fed announcement so ya wanna be watching.

I'm surprisingly unemotional about this because I've already made the decision to hold.
If I give it all back well bad luck. I'd regret getting out too soon more than giving back profit.

And if ya gonna hold don't stuff it up by hanging into expiry.

 

[pavilion103]

All good advice as usual TH.

And yes.... We've been there before haven't we haha. I am very mindful about expiry! This weekend I'll need to check the exact day!

 

[pavilion103]

http://www.reuters.com/article/2013/12/12/us-markets-stocks-poll-britain-idUSBRE9BB0W120131212

Does this article guarantee that the market will fall haha?



But in all seriousness, even if this pushes up and I get taken out, I'll look for a re-entry to the short side. Obviously the Fed stuff to be very catious of as TH mentioned, but I do think this looks bearish. I'll take it one bar at a time and be open minded!

 

[kid hustlr]

Good to hear Pav, I was worried you had been stopped out.

TH whats the fed announcement?

 

[pavilion103]

Tapering...

 

[pavilion103]

Interesting day yesterday on the FTSE. Looking weak still IMO.

Will be interesting to see if my position trade holds here. A big couple of days ahead and fed announcement on Wednesday. I'm not convinced on the tapering yet and wonder if this might take me out if news goes against me.
If it all works out in my favour this could be a good move. Some free air to 6300 at least.

 

[pavilion103]

Does the low volume trading hours mean anything much?

I noticed the FTSE. Has gone from 6437 up to 6450 and now down to 6401.

Does anyone read much into this trading?
What types of people trade at this time?

I don't really understand what occurs and why anyone trades it during these hours?

Can someone please explain this because I have no idea! Is a fall of 50 points here a lot for this type of period? I think volume is around only 2000 soon total from 11:30am when it opened.