Hang Seng (HSI), Kospi 200 (K200) Trading Journal! (14 Year Old Trader)

My analysis for today:

KOSPI:

<a href="http://content.screencast.com/users/UATrading/folders/Market%20Analysis/media/534c4861-7bb6-4653-bbbb-663a40580acf/KOSPI%20200%20March%207th%202011.png"><img class="embeddedObject" src="http://content.screencast.com/users/UATrading/folders/Market%20Analysis/media/534c4861-7bb6-4653-bbbb-663a40580acf/KOSPI%20200%20March%207th%202011.png" width="1059" height="777" border="0" /></a>

HSI:

<a href="http://content.screencast.com/users/UATrading/folders/Market%20Analysis/media/a33527e2-065c-42f8-a7f2-869d73c9e7f9/HSI%20March%207th%202011.png"><img class="embeddedObject" src="http://content.screencast.com/users/UATrading/folders/Market%20Analysis/media/a33527e2-065c-42f8-a7f2-869d73c9e7f9/HSI%20March%207th%202011.png" width="1057" height="774" border="0" /></a>

Feel free to share your charts and analysis! The more participation, the better for all of us!

Good luck trading today!

Julian
 
What is average duration of your trades and how many do you have per day? If you trade short term with lots of trades, I would suggest concentrating on one market only.
 
Quote from RedDuke:

What is average duration of your trades and how many do you have per day? If you trade short term with lots of trades, I would suggest concentrating on one market only.
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Well, mentally I am geared towards scalping as I am naturally an impatient person. I like to be in the market, and once I see a profit, I like to be out.

The reason for this is because I look at money this way:

If there is $100 on the ground, am I going to hesitate to grab it? NO! I am going to bend down and take the money.

Now this is good and bad for me. It limits my exposure in the markets, but it also cuts off winners. I understand that, and I am trying my best to improve that.

I noticed a while back that I have a knack for trading fast markets. I have a feel for the movement. (Oil, gold, dax etc.). Scalping in and out, in and out. This is why I am trading the HSI, and as you can see by yesterday, I made a healthy $80 profit in it.

To tell the truth I agree that I should focus on the HSI as it fits my high speed type of trading personality. However I do want to try and build a strategy with more longerterm intraday trading in liquid contracts.

So I have decided to focus on the HSI, but still watch the KOSPI and post on it.

I would like to build some sort of trading style where I make more longer term trades, but scalp in between for consistent income.

Thanks for the suggestion as I am still once again new to the asian futures :).
 
YESSS!!!

My main futures broker, Global Futures, will be connecting with the CQG data feed on ninja trader! I will be able to access the HSI with better funding, margin, and data in about a weeks time!!!

This is great!!!
 
A few thoughts for you:

- Since you a self-described scalper, and looking at the number of MHI trades you made last night, I wouldn't suggest spending too much time developing a bias for the market before it opens, it may just cloud your judgment. If you're just going to scalp MHI for 10-15 ticks, it doesn't really matter what the key levels for the day are going to be based on the last few days of action, just focus on current momentum. With that said, I do try to develop a bias before the market open, because in addition to scalping, I'm also looking for key levels where a well placed/timed trade could produce 100+ HSI ticks, i.e. the big move(s) of the day. Since you're not holding for the big moves, the multi-day levels don't really matter.
- If you're going to trade MHI, I would suggest you have a minimum target of 20 ticks, although many scalper's setups these days should produce anywhere from 30-50 ticks. The commission to tick ratio on MHI vs. HSI or HHI is quite high, and in the long run it doesn't make sense to pay more to IB than you pay to yourself
- I'm with RedDuke on trading one instrament at a time. If you're trading the KOSPI options because you're bored and waiting for Hong Kong to get started, you are in the wrong frame of mind to be trading. The KOSPI trades very, very differently than HSI, such that I think you would have to approach each differently, and that would be very difficult to do concurrently. I don't perceive the KOSPI to be a scalper friendly contract, if I traded it I would only be looking for 2-4 trades a night max. It's just too choppy in my opinion, but RedDuke could give better advice since he actually trades it every day.
 
Please keep us in the loop on this, and let us know what the commissions are. It's been pretty exciting lately to see other brokers moving into Asia, this is the first I'd heard about Global Futures going there. I'd heard that Amp was expanding there through the CQG feed, but I didn't think they were offering HKFE products yet.

Quote from julian0625:

YESSS!!!

My main futures broker, Global Futures, will be connecting with the CQG data feed on ninja trader! I will be able to access the HSI with better funding, margin, and data in about a weeks time!!!

This is great!!!
More...
 
Quote from filter_sweep:

A few thoughts for you:

- Since you a self-described scalper, and looking at the number of MHI trades you made last night, I wouldn't suggest spending too much time developing a bias for the market before it opens, it may just cloud your judgment. If you're just going to scalp MHI for 10-15 ticks, it doesn't really matter what the key levels for the day are going to be based on the last few days of action, just focus on current momentum. With that said, I do try to develop a bias before the market open, because in addition to scalping, I'm also looking for key levels where a well placed/timed trade could produce 100+ HSI ticks, i.e. the big move(s) of the day. Since you're not holding for the big moves, the multi-day levels don't really matter.
- If you're going to trade MHI, I would suggest you have a minimum target of 20 ticks, although many scalper's setups these days should produce anywhere from 30-50 ticks. The commission to tick ratio on MHI vs. HSI or HHI is quite high, and in the long run it doesn't make sense to pay more to IB than you pay to yourself
- I'm with RedDuke on trading one instrament at a time. If you're trading the KOSPI options because you're bored and waiting for Hong Kong to get started, you are in the wrong frame of mind to be trading. The KOSPI trades very, very differently than HSI, such that I think you would have to approach each differently, and that would be very difficult to do concurrently. I don't perceive the KOSPI to be a scalper friendly contract, if I traded it I would only be looking for 2-4 trades a night max. It's just too choppy in my opinion, but RedDuke could give better advice since he actually trades it every day.
More...

Words of wisdom. I completely agree! Thank you so much for the insight!

Yea I'll keep everyone posted with the Global Futures situation. Sounds exciting!
 
Quote from Dharmakaya:

Good idea to start early. When you are 25 you can trade successfully blindfolded jumping on one leg.
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Haha thanks! I'd like to be that good someday lol
 
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