• Australian (ASX) Stock Market Forum

Hello and welcome to Aussie Stock Forums!

To gain full access you must register. Registration is free and takes only a few seconds to complete.

Already a member? Log in here.

FiftyEight Fluffs Around In Futures

Discussion in 'Derivatives' started by fiftyeight, Jan 26, 2015.

  1. CanOz

    CanOz Home runs feel good, but base hits pay bills!

    Posts:
    11,531
    Likes Received:
    486
    Joined:
    Jul 11, 2006
    On trend days i have a couple of ways to get into a trade that suits my risk tolerance. On rotational days they still show up, but just not as frequent as they need the follow through order flow or they just don't follow through...They're bread and butter to me because for some reason they work for me, more than they fail.

    TH inspired me to look for ways to trade rotational days and I've got a good play I'm practicing now, but I've not traded it live yet. I'm reluctant to call them plays or setups because its just a way to get involved. :2twocents
     
  2. fiftyeight

    fiftyeight

    Posts:
    972
    Likes Received:
    164
    Joined:
    Apr 3, 2013
    Really need to flip faster.

    I am much better now at not letting my bias get me in to toooooooo much trouble. But while I am waiting paitiently for a retest or something I am missing the next move waaaay too often.

    Also Can, is this what you are talking about when you say its a will bid market, lots of orders going through on the offer

    Screen Shot 2015-12-22 at 7.19.52 pm.png
     
  3. CanOz

    CanOz Home runs feel good, but base hits pay bills!

    Posts:
    11,531
    Likes Received:
    486
    Joined:
    Jul 11, 2006
    Well to me a well bid market is thick on the bids as the offers keep getting swept...like shorts tripping over themselves to hit the exits....

    What's that data feed? Eurex has 20 levels of depth for punters. You can change your setup in jiggy to show all 20.
     
  4. fiftyeight

    fiftyeight

    Posts:
    972
    Likes Received:
    164
    Joined:
    Apr 3, 2013
    CQG, will have a play around with it over the xmas break. I have been paying less attention to the depth recently and more attention to what has actually traded, possibly because its a fancy new piece of information I have not had before. Last night while I was having a brain explosion the offer seemed thicker but it kept on grinding higher.

    Really enjoying jiggy, starting like to see little things happen. Cannot trade off of them yet but something is maybe, kinda, sort of starting to appear
     
  5. fiftyeight

    fiftyeight

    Posts:
    972
    Likes Received:
    164
    Joined:
    Apr 3, 2013
    To my brain explosion. Very disappointing night last night :bad::(:banghead::banghead:, blew through my daily stop and dropped a few $K.

    Did many many things wrong. To list a few, blew through my daily stop, had a target in my head that I wanted to achieve pre xmas, had NT troubles but didnt wait until I got them fixed before trading, was not patient...........

    Things I learnt, daily stops are easy to obey when they are not tested (had a pretty good run recently). I got close to my daily stop before NT decided to cooperate then blasted through it and barely gave it a thought. Then the frustration came in to play and the mistakes kept on coming. The daily stop is in place to stop the brain explosion.

    What I found incredibly frustrating last night was that my bias was correct but I just couldnt get it right. A few initial stops taken out by a tick or 2, a few BE taken out by a tick or 2 and then moving my SL up to lock in some tiny insignificant profit to have it taken out on a pullback by a tick or 2. My bias is wrong so often I do not get frustrated by it but I found last night very frustrating last night.

    I think there was a common theme last night of frustration leading to mistakes which lead to more frustration which caused more mistakes.

    I would like to blame the initial NT issue for it but I should of just stuck to my daily stop.

    May need to review my daily routine, currently getting up at 3 to hit the gym, review the previous nights trade and a bit of study, work 11+ hours, race back to my room, log on to NT by 5.20ish while still wearing my work gear, try fit in shower and dinner, call wife and bed by 10ish.

    Maybe I can blame "Decision Fatigue" for last nights brain explosion (article is worth a read if you have not come across it before)

    http://www.nytimes.com/2011/08/21/magazine/do-you-suffer-from-decision-fatigue.html?_r=0

    Well, a few days to stew over it during xmas. Not sure what is worse, having so long to think about it or being on site over xmas haha

    I hope everyone has a fantastic Xmas and New Year :xmaswave
     
  6. prophesa

    prophesa

    Posts:
    9
    Likes Received:
    0
    Joined:
    Jan 16, 2014

    You have a pretty hectic routine there. We all make mistakes in trading but I think it's positive that you are able to recognise the issue so now you can work on it. Good luck with it and I hope you become a better trader learning from these mistakes.
     
  7. CanOz

    CanOz Home runs feel good, but base hits pay bills!

    Posts:
    11,531
    Likes Received:
    486
    Joined:
    Jul 11, 2006
    58, I can totally relate to the daily stop thing. A couple of scenarios I had recently: One day I hit my daily stop, back in October or November. At that stage I didn't have my planning Checklist. After that daily stop, where I actually exceeded my DS by over 2x, I put together the planning document.

    The next time I stopped trading for the day was just short of my daily stop, not sure exactly why, but I took a shot on a day that didn't play to my strengths and I lost. Something about being better prepared enabled me to get over the FOMO, pack up and call it a night....because I knew on a day that suited my style, I'd get it back and more. This might not help, but it helped me be a little more disciplined with my daily risk.

    That's a crazy schedule, agree.

    Not sure I'd be trading a live account in that situation.
     
  8. fiftyeight

    fiftyeight

    Posts:
    972
    Likes Received:
    164
    Joined:
    Apr 3, 2013
    So after a long break over xmas its time to get back to it. Schedule remains roughly the same as about, not ideal but all good. My only change will be to place less pressure on trading every night.

    So I finally went to upgrade my NT and received this email haha

    Any suggestions on who to use if I want to keep using NT?
     
  9. CanOz

    CanOz Home runs feel good, but base hits pay bills!

    Posts:
    11,531
    Likes Received:
    486
    Joined:
    Jul 11, 2006
    Just use their brokerage, they're fairly competitive I think. It's iqfeed data, which is good data.
     
  10. Trembling Hand

    Trembling Hand Can be found on the bid

    Posts:
    8,852
    Likes Received:
    184
    Joined:
    Jun 10, 2007
    Do you know if they let you use Australian servers like CQG?
     
  11. CanOz

    CanOz Home runs feel good, but base hits pay bills!

    Posts:
    11,531
    Likes Received:
    486
    Joined:
    Jul 11, 2006
    Nah, not sure. I know that rhythmic has a server in Japan and they're the same feed. When I asked they didn't mention Australia though.
     
  12. fiftyeight

    fiftyeight

    Posts:
    972
    Likes Received:
    164
    Joined:
    Apr 3, 2013
    A few emails back and forth with NT brokerage this morning . Will give them a go. I don't need anything lighting fast

    Or back to IB. I know people use but I just seen a few annomlies when using IB data with NT compared to TWS and this game is already hard enough to start second guessing data
     
  13. CanOz

    CanOz Home runs feel good, but base hits pay bills!

    Posts:
    11,531
    Likes Received:
    486
    Joined:
    Jul 11, 2006
    So basically you can only use NT to execute trades IF you use thier brokerage?

    The other option is to use NT for charting and analysis and then execute on the IB Dom. Otherwise, if your stuck on the Jigsaw Dom, then maybe use multi-charts or something else? With multi-charts, you could likely use a good data feed like CQG and then execute through IB.

    Also, check out Stage 5 with Sierra chart. From what Future.io members say, its the least resource heavy intraday kit.....I think S5 clear through AMP, so i think thier servers are still accessible.

    Sierra and Jigsaw
     
  14. Caveroute

    Caveroute

    Posts:
    238
    Likes Received:
    0
    Joined:
    Jul 10, 2010
  15. fiftyeight

    fiftyeight

    Posts:
    972
    Likes Received:
    164
    Joined:
    Apr 3, 2013
    Nah you can still use IB and a few others that are listed. You can still use CQG if you already have a license, just no new customers.

    Yeah I definitely want to keep NT, I dont have time to learn something new.

    Cheers guys
     
  16. Modest

    Modest $PEPE

    Posts:
    2,023
    Likes Received:
    262
    Joined:
    Sep 7, 2012
    Does Rithmic include Eurex by default?

    When I switched to XTrader which uses Rithmic (from memory) I did not have to pay an extra $23 per month for EUREX only $15 for CME Bundle.

    Can anyone confirm this?

    Sorry to hijack your thread 58
     
  17. fiftyeight

    fiftyeight

    Posts:
    972
    Likes Received:
    164
    Joined:
    Apr 3, 2013
    Newb question

    How would you go about making a bet that oil will dip below $10 in the next 5 years? Is this even possible (the bet, not oil going that low haha)?
     
  18. CanOz

    CanOz Home runs feel good, but base hits pay bills!

    Posts:
    11,531
    Likes Received:
    486
    Joined:
    Jul 11, 2006
    There are extremely long dated options that you can use, their name escapes me at the moment. If they're only available on equities then an ETF option might be the go. But this is only off the top of my head, maybe WayneL or the like can suggest....
     
  19. fiftyeight

    fiftyeight

    Posts:
    972
    Likes Received:
    164
    Joined:
    Apr 3, 2013
    Might as well give my theories behind this.

    I believe that we struggle with exponential growth, hence why technology always seems to come out of nowhere.

    I wish I was on the bandwagon earlier but funds were lacking. Electric cars, car sharing and self driving cars are about to change the world and it will happen way faster than anyone expected. So I want to have a bet on this via oil.

    Before I was interested in "The Markets" I tried to capitalise on my theory that I would live to 200. I sent out a bunch of emails to see if any of the bookies would bet me my life insurance policy that I would live to over 100 or 150. They paid out on my 100th or 150th birthday or I when I died my life insurance policy was theirs.

    This is what sportsbet replied haha


    Screen Shot 2016-03-10 at 8.47.38 pm.jpg
     
  20. skc

    skc Goldmember

    Posts:
    8,277
    Likes Received:
    303
    Joined:
    Aug 12, 2008
    Hilarious! I didn't know you can even approach them on something like that... careful though if you insurance policy pays a lot, they might make you die of unnatural causes!! On the other hand, if you are with CommInsure then they'd lose no matter how and when you die.
     

Share This Page