Australian (ASX) Stock Market Forum

The transition to Futures trading

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Yeah that's a huge fall, see my post in the other thread about them smashing the e-mini. It's all out of hours though I'm not sure you can 'read' too much into it, that being said if its going your way its a good thing!
 
I just posted in there. I don't usually check these hours. I'm only checking because I'm in the trade.
Even checking it just before the open I can't remember it having moved that much from the night before
 
It doesn't seem like too many people on here are following the FTSE closely at the moment.

Struggling to get any sort of dialogue going. Maybe in the new year people will be back on board.

I thought the the Fed meeting coming up in the next couple of days there would be a bit more interest in terms of the new potential move.
 
pavilion103 said:
It doesn't seem like too many people on here are following the FTSE closely at the moment.

Struggling to get any sort of dialogue going. Maybe in the new year people will be back on board.

I thought the the Fed meeting coming up in the next couple of days there would be a bit more interest in terms of the new potential move.
Click to expand...

I haven't commented much because you have a longer term position on. You don't need me telling what I think your trade will do.

But as per my Int banter thread comment its not surprising that the index has closed the gap from a Monday morn sweep.
 
Yeh longer term position doesn't need analysis every 2 minutes.

Usually just a few more on here trading it. I guess it's also a busy time of the year.
 
The tough situation when in a position trade and wanting to take a short term long setup!

My stop is almost taken out on my longer term position. Not too disappointed. I know longer term I am able to make these work.

In future at the really opportune times I will take 2 contracts on a potential position trade and look to trade one of those shorter term.

Excited about the opportunities ahead.
 
pavilion103 said:
The tough situation when in a position trade and wanting to take a short term long setup!

My stop is almost taken out on my longer term position. Not too disappointed. I know longer term I am able to make these work.

In future at the really opportune times I will take 2 contracts on a potential position trade and look to trade one of those shorter term.

Excited about the opportunities ahead.
Click to expand...

All is not done yet!
 
I had read a few Linda Bradford Raschke articles in the past and didn't think they were anything special, but found this webinar really practical (better than the last video I posted, this one i have actually watched the whole way through before posting). It starts a bit slow and it's long, but you can skip the questions at the end which take up nearly half the video

 
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Out.

Can't allow holding a short stop me from taking a long.

50 points profit from 7 points risk. Annoying.

But this is good. So eye opening. Learning little lessons all the time. I'm enjoying it.
Potential is enormous. Will get there!!
 
Argh lame Pav.

big move over night. Interesting to hear TH's thoughts about the Monday gap usually filling, will put that in the back of my mind.

----

I guess we look towards the FOMC meeting Thursday morning now. It's funny you know on the weekend one of my friends was talking about the sharemarket and tapering etc etc. The fact he even knows what tapering is makes me think a big sell off on Thursday is even more unlikely. If he knows, everyone knows.

Not quite sure how to approach this now, I figured there would be a few shorts going into FOMC and that would be the ammo to cause a rally. Given last night's action I wonder if that's less likely and if we just stay flat for the next couple of days the announcement might be a fizzer and everyone goes off and enjoys an early xmas.
 
Didn't quite work out but that's ok.

Yeh I don't know what to expect with this announcement now. It does seem like a lot of people know about it.

We'll see
 
To be honest Pav it is a silly time to try and do a position trade. The volatility is going to be nutz. There is a very low likelyhood of being able to hang onto anything over the next few days. That stop sweep yesterday is a classic example of how the market will be searching for some fun.

Further more you should be on this action, taking bits out of it rather than trying to guess the big trade over a week. These are the times to be making hay.......... in small bunches..... rather than trying to fill the barn in one big grab.
 
Thanks for all your posts on the FTSE pav. In fact I think I'l trade it instead of the ESTX50. Although I do like the ESTX50, the FTSE is a higher index.

Sori I missed out on your longer term position. Where did you enter at and in what direction?
 
Trembling Hand said:
To be honest Pav it is a silly time to try and do a position trade. The volatility is going to be nutz. There is a very low likelyhood of being able to hang onto anything over the next few days. That stop sweep yesterday is a classic example of how the market will be searching for some fun. Further more you should be on this action, taking bits out of it rather than trying to guess the big trade over a week. These are the times to be making hay.......... in small bunches..... rather than trying to fill the barn in one big grab.
Click to expand...

Thanks for the advice. I guess being I aquatinted with these sorts if times I assumed if I could get on one before the announcement (plus the chart looked bearish), that it might be a high RR play.

I should be looking for a position trade from support resistance levels rather than here.

50 points given back. Then 50 lost last night by being short when I wanted that long. My psychology is strong. It doesn't matter much to me. The bigger picture is what I care about. These lessons are gold. In 2-3 years I will be very very good if I can continue to learn at this rate.

Having said that I'm very confident of a big 2014!
 
tech/a said:
Back on track and duly frustrating eh PAV!
Click to expand...

Tech all good.
I'm more excited that I got on the 50 point move and then identified the one last night too, rather than being disappointed with the end result.

I WILL get on 300 or 400 point moved at some point and it will be great. They will be few and far between but in the meantime I need to make as many 20-50 point intra day moved as possible.

I've got a good playbook forming. Learning rapidly. Bring it on!
 

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