Day & Night trading Derivatives Futures

orbit23 said:
Huh? Haven't heard of that before.

And what is the determining factor that decides how long a bar takes to form?

Does it change depending on volatility or is each bar formed when volume threshold is filled or something like that?
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Take for example the above 100 volume gold chart.
A candlestick is formed when 100 contracts have been traded.
How long it takes depends on
the market condition / big boys /
how desperate/calm the buyers/sellers are.

Definitely when there is a major news/event,
a candlestick will be formed in a very short time.
 
maxinger said:
Take for example the above 100 volume gold chart.
A candlestick is formed when 100 contracts have been traded.
How long it takes depends on
the market condition / big boys /
how desperate/calm the buyers/sellers are.

Definitely when there is a major news/event,
a candlestick will be formed in a very short time.
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Interesting. And what platform has this type of candlesticks?

Tradingview has "volume candle" but it is still time-based and only makes the high volume bars wider.
 
orbit23 said:
Interesting. And what platform has this type of candlesticks?

Tradingview has "volume candle" but it is still time-based and only makes the high volume bars wider.
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Only some paid charting s/w (eg Esignal, Sierrachart) have this feature.
 
Why don't you trade Bitcoin? Previously you said the range is small and not suitable for daytrading, but these days it seems to be moving quite a lot?
 
orbit23 said:
Why don't you trade Bitcoin? Previously you said the range is small and not suitable for daytrading, but these days it seems to be moving quite a lot?
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BTC futures day range is decent.
However, the bid-offer spread is horrific;
it is in terms of tens of ticks.
You can't earn $$$ from day trading when the spread is so wide.


BTC futures is quite similar to
Chinese Yuan / USD futures, Lumber futures (low volume, huge spread).


For other futures like gold, ES, copper, dax, natural gas ....
spread is around 1 to 4 ticks.
 
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tony.m said:
@maxinger do you pay attention to day/session High and Low levels ?
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No. I focus on what happened during the past few minutes to the past few hours.
I don't draw any support resistance lines as it is useless/confusing/distracting.

ref posting # 946.
I drew the vertical purple line.
Because I don't want to see what happened to the left side of the purple line.



But I keep a 24-hour record of which futures are moving.
When a particular futures is moving, it might move again during the next few hours
(continuation or reversal pattern)
eg dax, gold, oil, copper movement on 30 Apr 2024.


Also when a particular futures is moving, other futures might move in tandem,
or a few hours later.
eg on 30 Apr 2024, gold, copper, crude oil, Natural gas (all USD denomination)
all move with some delayed intermarket correlation.
 
tony.m said:
Thanks, that is what I'm trying to focus on.
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The purple line which I talked about ...

I drew it at

Asian stock markets open
Europe or the UK stock market opens
1.5 hours before the US stock market opens
US stock market opens
 
maxinger said:
BTC futures day range is decent.
However, the bid-offer spread is horrific;
it is in terms of tens of ticks.
You can't earn $$$ from day trading when the spread is so wide.


BTC futures is quite similar to
Chinese Yuan / USD futures, Lumber futures (low volume, huge spread).


For other futures like gold, ES, copper, dax, natural gas ....
spread is around 1 to 4 ticks.
More...

On Binance futures spread is 0.1$, which is the minimum (if that's what 1 tick means).


For me the hardest to trade is when the market is trending strongly. If i am not in the trade before the move happens, i don't know what to do (even though i know the market is moving strongly).

Because usually there is no meaningful retracement and i have no idea how to enter and where to place stops.


I traded a lot on 1minute timeframe, probably thousands of hours. There were periods when i would make money, but then i would just give it all back when market settled down...

Would get my ass chopped a lot, taking random setups counter-context(mostly counter-trend), many times i got it right on 1min timeframe and market went in my direction but i would hold it hoping for a bigger move only to have it reverse against me :rolleyes: And then when the move finally happened i wasn't in it.

Also lots of top/bottom fishing and i would get it *roughly* right, but then market moved just slightly and stopped me into the bottom or top :vomit:

So i would be getting the bigger moves *right* but end up losing money on 1 minute charts and tight stops :banghead: :)


Bigger timeframes work for me because instead of getting chopped, i get in on limit orders or when there are clear signs of incoming momentum.

But then the problem being is it takes such a long time for setups to happen, it's not very engaging and i lose attention and get distracted. I need something to do/something more fast paced to keep me engaged.
Lower timeframes are engaging and make it easy to keep you glued to the screen (but you find yourself trading a lot of non-sense chop).

But then again, i would guess that is the existential question of every day-trader.


These volume-based candles are ingenious because they adapt depending on market volume(volatility). Of course there is nothing magical about it, but it's an interesting concept and i will be experimenting with it to see if i can make it work.


There was a nice impulsive move down on friday in Bitcoin and i watched it happen but didn't take any trades.
 
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