Search results

Gringinho, Watch out for mixing styles/time-frames. I don't know about you but it completely screwed up my trading. I tried to mix 15-20 min time-frames with 4-5 hours and ended up with lot of conflicts and could haves should haves. I think bottom line is to have rigid plans. If you have two...

I went crazy last couple of weeks micromanaging my trades. Now I'm back to my older style, trying to ride intraday trends. This way , I dramatically reduce # of trades. And I have very minimal discretion to use. When I tried to ride the smaller ups and downs, I was initially successful but then...

I don't have a target. I'm trailing the position for now as long as the pullbacks are in low volume. My stop is now couple of ticks over my entry so I'm smooth sailing for now :) Tomorrow, after the FOMC decision, I'll be very careful. Last time, we had 20-30 pip fast moves up and down for a...

It looks like we might have a bottom here. I'm long for now. Chinook

It was a great day for me today! I slept very late and not traded at all :) Something which I should have done mid-week. This weekend I'll go over my trading plan and simplify it so I'll have minimal discretion to use during the trading hours--I ended yp doing too much self-beating this week...

I agree. I usually set the stops couple of ticks apart if I'm scaling out. I think best combination is trailing and setting targets with multiple contracts. However, it requires a lot of prediction and optimum state of mind. Chinook

Hi Gringinho, These are the eurodollar-interest rate futures not the FX futures. I used to get these confused too. Base symbol is ED. Yes, I try to be adaptive but then sometimes I take unnecessary hits since the rules are not rigid. Then I become rigid and then miss decent opportunities...

Do you think there's an actual Market Maker in the book? Sometime ago, somebody mentioned that CME hired a guy to keep the futures in line with the spot by arbing. But I'm not sure. I always thought that some independent firms are arbing the futures vs spot and this is what keeps the futures in...

How are you holding up? Are you still short $ biased? Do you have any wisdom for us about what it really takes to survive in this trading business? I guess bottom line is risk management. But how did you keep fear and greed away from your risk management decisions in the past while getting...

It's variable based on local bar height/volatility. It's usually 8-25 pips--but the intial entry stop is only 10-12 pips. If you want to catch these 50-150 pip moves you really need to sacrifice your stops. If you look at a high range day (let's say trending up), usually you can make sense of...

This trading business rests on such a delicate balance. The utmost important variable is our mental balance. We need this balance to control how much risk we're taking. The market doesn't care about indicators, resistance support levels etc... We can't control the market but we can have very...

Thanks for the reminder. And there's no US # number release except the consumer sentiment. I think the 1.22 and 1.215 range might hold up well going into Monday. Chinook

I also had a hair-pulling day. I went short after the 1.2130 level breakdown but closed it late. Then after the Philly Fed spike retracement, I was long at a good level but couldn't hold on to the trade after two small retracements and closed it at b/e after 8-9 minutes. Both trades were...

Not many buyers are coming in at this dip. I ended up shorting at the bottom but I'll hold on to it. Chinook

Lon Eagle, What's your time zone? I see that GDB has been nicely trending since the EU open. Chinook Edit: I meant GBP!

Not a very interesting day so far for me. Chinook

Interesting. Do the average of all of the customer orders usually end up in the right direction? Also, are you allowed to trade for your own account? Chinook

It's possible but I don't like having biases like this since I trade in short time-frames. What's your time-frame? Chinook

Consumer Price Index 8:30ET Jobless Claims 8:30ET Treasury International Capital 9:00ET Philadelphia Fed Survey 12:00ET These should make the day interesting. I think each of these is capable of creating a spike. What do you guys think? Chinook

Yesterday, I was able to make up for earlier losses but today I made it worse. I looked at my earlier posts and and even though I had a short bias, I ended up trading against my own bias many times. I'm again having what I call a "period of trading insanity". I started getting obsessed...