The transition to Futures trading

[CanOz]

It's been described as playing a video game - you just need to get good at it !

The first 25 years are the worst !

Well i tell ya, I'd rather be watching the markets intra-day than playing GTA 5, COD, or Battlefield. I love the passive learning you pick up by watching the screens. I'm far better at EOD trading though and i think that's where I'll be most consistent over the next few years.

Another 17 years to go...

 

[CanOz]

Woo hoo....clean those shorts out!

 

[kid hustlr]

Woo hoo....clean those shorts out!

Yeah quite a rally

Duckman, Pav, Cave, ANYONE, get a piece of this? the consolidation pattern near the bottom of the range recent range was probably enough to warrant an entry, i was too busy eating my dinner!

 

[CanOz]

Yeah quite a rally

Duckman, Pav, Cave, ANYONE, get a piece of this? the consolidation pattern near the bottom of the range recent range was probably enough to warrant an entry, i was too busy eating my dinner!

Must have been some news, i was peeling potatoes...

 

[Caveroute]

Yeah quite a rally

Duckman, Pav, Cave, ANYONE, get a piece of this? the consolidation pattern near the bottom of the range recent range was probably enough to warrant an entry, i was too busy eating my dinner!

Nah, I was cooking dinner !

Second entry long following a failed bo.

I reckon we could be looking at the reverse shortly - second entry short on the 150 tick chart at ~ 6685, come on down.

 

[kid hustlr]

im looking at a possible short also

 

[kid hustlr]

Short ant not really liking it.

EDIT: stopped.

lame.

 

[Caveroute]

Short ant not really liking it.

EDIT: stopped.

lame.

I didn't enter, that outside up bar spoiled the party.

 

[tech/a]

Short ant not really liking it.

EDIT: stopped.

lame.

Went short 6688
got out same reason.

Up to TV ---more interesting.

 

[kid hustlr]

Will re-assess the trade in the morning. In a nutshell right now I don't hate it but will have a re-think in the morning with a clear head.

I swear I should just start clicking to enter the fills I get using a buy and sell stop seem to be really bad lately.

 

[Caveroute]

Will re-assess the trade in the morning. In a nutshell right now I don't hate it but will have a re-think in the morning with a clear head.

I swear I should just start clicking to enter the fills I get using a buy and sell stop seem to be really bad lately.

fyi - my snapshot at 9:55

 

[kid hustlr]

Yeah I like your thoughts Cave.

I think my thought process was correct but perhaps my execution was a little off. This is just something which comes with practice.

I slight re-adjustment of my entry + exit criteria might be in order.

 

[tech/a]

Yeah I like your thoughts Cave.

I think my thought process was correct but perhaps my execution was a little off. This is just something which comes with practice.

I slight re-adjustment of my entry + exit criteria might be in order.

Easy in hind site to question your method.
You can bet your bottom dollar that you'll change your
Criteria just to see it hit just like your original plan!

Sure we miss some.

 

[Caveroute]

Yeah I like your thoughts Cave.

I think my thought process was correct but perhaps my execution was a little off. This is just something which comes with practice.

I slight re-adjustment of my entry + exit criteria might be in order.

Hi,

I try and review each chart at the end of day - to complete our earlier discussion ,and in hindsight, this is what I saw from the ftse last night.

The entries shown are all almost mechanical price action entries once you have taken a bearish view.

Sure some are subjective and open interpretation - but they all conform to simple price action rules.

 

[Caveroute]

A little more ...

 

[kid hustlr]

Hi,

I try and review each chart at the end of day - to complete our earlier discussion ,and in hindsight, this is what I saw from the ftse last night.

The entries shown are all almost mechanical price action entries once you have taken a bearish view.

Sure some are subjective and open interpretation - but they all conform to simple price action rules.

Completely agree, in hindsight, my short entry was either slightly to hasty or I didn't give the trade enough room to roll over. I learned a lot last night. All important lessons and in a weird way I got some gratitude out of the fact that it did come off, but its not about being right, its about being PROFITABLE!

 

[Caveroute]

Firstly all of what follows was done in hindsight - I'm just throwing up my interpretation of the FTSE action from last Friday night for comment.

It's all price action based stuff - following simple and regular rules, that provide an excellent perspective of whats going down.

Once you can do this in real time that is.

It's a 150 tick chart, there are probably too many bars, finding a happy compromise is one of areas under investigation.

However, 5min, 3 min, 250 tick whatever - the interpretation will basically be the same or very similar.

 

[Trembling Hand]

That's what I'm curious to know.

If it will be reasonably straightforward to go from trading the FTSE to the HSI for example because the markets are based on similar principles.

I know it was a difference going from stocks to futures but I'm curious about how much difference here is within different futures contracts.

Well you may find it Ok but you will want to have a pretty robust approach. Its not that uncommon to have 5, 10 or even 20R losses in the HSI. If you cannot make that back fast you could find yourself falling into a hole.

 

[tech/a]

Well you may find it Ok but you will want to have a pretty robust approach. Its not that uncommon to have 5, 10 or even 20R losses in the HSI. If you cannot make that back fast you could find yourself falling into a hole.

You must have altered your method T/H
20R loss is not something I've seen you accept in the past (Scatter charts).
Of course--what's your R?

 

[Trembling Hand]

You must have altered your method T/H
20R loss is not something I've seen you accept in the past (Scatter charts).
Of course--what's your R?

Its not a matter of accepting it its just reality of trading a thin order book. If someone throws out a 1000 lot sweep order, which is a weekly event on the Seng, you will be luck to get filled 120 ticks past your stop trigger. I've seen a few 350 tick sweeps . If you are going to trade it for long enough you will be hit by them soon enough.... if not often..

My R amount is..... whatever it takes... I don't really use hard stops.