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The transition to Futures trading

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pavilion103 said:
Anyone else thinking a short tonight?
Maybe a push up on open either near the high of yesterday or just below.

Not sure what range we will get tonight. Not expecting huge.
Click to expand...

I've been short on the DAX since the middle of last week, and up until recently those shorts have been burning my account!

Generally I prefer boring (market monotony is easier to manage) , but this should prove to be an interesting night just the same!
 
pavilion103 said:
I should look at the DAX. Purely for more trading opportunities.

Do you ever look at the FTSE?
Click to expand...

Yes I do!

The FTSE is a soporific sloth in comparison to that misbaved son of a bourse from a heretofore undiscovered level of hades, namely the demonic DAX.
Abandon hope all ye who trade this bourse!

The DAX demands more than 99% of my attention. At times my EURO account will experience five figure drawdowns (often within a mere one or two days!), whereas the FTSE is sufficiently tame to only require periodic monitoring. (Daily fluctuations in my Sterling account are rarely greater than three figures).
 
I've sometimes noticed my DAX drawdowns coinciding with reports of healthy profits by a certain T/A trading black duck!

Anyone enjoying the benefits of said duck's tutelage might have better prospects when challenging this bourse!
 
You talk about the DAX being challenging, but surely you're doing well on it.
Or else you'd be trading the FTSE if you find that easier?
 
pavilion103 said:
You talk about the DAX being challenging, but surely you're doing well on it.
Or else you'd be trading the FTSE if you find that easier?
Click to expand...

Did I neglect to inform you that I'm moonlightling as a masochist?
Also did you overlook what I said about demonic sons of bourses from heretofore undiscovered levels of Hades?

Happily I am trading the FTSE as well. FYTD the FTSE accounts for over 75% of my trading profits.
 
Short FTSE 6796

Looking like it could provide a good short.

Daily chart may need some more consolidation before any decent fall however.
 
Thanks for the update pav.

Yesterday my grail narrowly missed an opportunity to short the Dax at 9750 (June futures).
That DAX continues to be an annoyingly demonic son of a bourse from lower Hades!
 
Exited 6765.5 early this morning at the S/R level I identified when I took the trade.

30 points

May post a chart tonight when I do my usual analysis.
 
I did a couple of things that could have cost me.

Remember I mentioned adding a contract on the break lower?
I did that. Only lost 3 points though.

At the same time I moved the stop on my first position to 6790.5.

Then I thought that this is the exact error that I've made in the past and that 90 may just get taken out.

So I thought I'd move my stop back to 96.
But then I thought I'd take off the 3 points I lost and move it to 93.
Not exactly my finest trading haha.

Fortunately it only reached 92 and I stayed in by 2 ticks.

Leaving it at 96 was the wisest thing to do.
Next time I just won't touch it at all!

Woke up early.
Saw it around 65 and thought that that was the original goal at the start of the trade so I'd take it.

Wouldn't have minded having one to hold but figured I'd be on tonight anyway so hopefully could capture a good trade if it does smash lower.
 
I think now would be a good time to get some discussion happening.

What are people's thoughts on the respective futures indexes that you are trading?

The FTSE is struggling at resistance.
The XAO looks to have mushroomed over a bit too.

Who is anticipating another strong push down?
Anyone planning to prepare for a position trade?
 

The ES is a good one to start with, its in a tight bracket and looks ready to pop. As for up or down, no idea but its a good time to be paying attention if you want to trade a break from a decent range.
 

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The DAX is looking much the same but with a few key levels that everyone will be watching... 9800, 9600 and 9500.
 

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  • FDAX 03-14 (60 Min) 2_27_2014.jpg
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The FTSE looks the most trendy, with two ranges stacked on each other its got some stuff to get through before going much lower...

Some key levels are the range extremes....6857, 6700 and a thin area at 6690 to 6650.
 

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Currency futures and what used to be the poster child for the carry trade...the 6A

Getting close to the bottom of the bracket and .8900
 

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  • 6A 03-14 (60 Min) 2_27_2014.jpg
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Just to complete the picture, here are the rest of the stars....

The dollar index with the Aussie and the Euro...and Gold, Oil and Bonds...

Looks like the bonds have/are breaking out.
 

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  • Gold Oil and Bonds.jpg
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Things look ripe for a pullback, all we need is a catalyst....
 

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  • econ news feb 27.GIF
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