Derivatives Trading

[ValueInvestor]

as mentioned before, not many can make it.

for my case, I have lost thousands upon thousands of dollars before i make it. and my trading accounts had bursted countless times already.

u lost so much $$, then overall got earn mah??

if got... how many years u took to earn back all your losses and start being profitable?

 

[maxinger]

u lost so much $$, then overall got earn mah??

if got... how many years u took to earn back all your losses and start being profitable?

i started trading part time way before home computer was invented.

i started full time trading about a decade ago.
took me half a decade to get it right.

 

[ValueInvestor]

i started trading part time way before home computer was invented.

i started full time trading about a decade ago.
took me half a decade to get it right.

wow since u have been trading for a decade already, i suppose u must be a multi millionaire already right?

since u can generate such a high % monthly returns

the base capital should grow very very fast

 

[maxinger]

today day trading view

sgp simsci
overall downtrend. level 340 provides temporary support.
however, simsci has habit of sleeping for many days after long candles.

nikkei
level 20950 has been tested 3 times.
day range has been healthy recently

china A50
now in gentle up channel, or bear flag depending on your frame of mind. day range relatively small

Taiwan
overall downtrend

stoxx50
ranging between 3400 to 3720 for few mths already

russell
day range still beyond 1%.
decending converging triangle formation with level 1200 support.

gold
gentle up channel, or bear flag, depending on frame of mind

wti gold
downtrend. now ranging between 49.3 and 49.7

 

[maxinger]

how to day trade better

before market opens, must have view.
after market opens, be on alert as market behaviour could change

don't anticipate trend. let the big boys decide where they want to go. As time goes by, they will give u more candles on the chart and we just decode its meaning.

mind must be agile in trend analysis.
because we don't know what the big boys are trying to do next.

take all signals be it continuation or reversal signals.
use anti DCA approach. ie first signal enter with multi lots or 1 lot if confidence is not high.
progressively cut down position as price moves in your favor.
stop loss level and its adjustment must be clearly defined.

at times big boys are fighting in disorderly manner ended up chart will be jerky / messy. have to backoff from the market.


develop your own trade plan and holy grail.

be mindful. neutralise negative emotions. center the mind.
be calm and alert and confident

 

[maxinger]

forex

usdjpy and eurusd trying to move?

 

[maxinger]

usdjpy and eurusd trying to move?

yep. US $ moving.

 

[nomoreliaola]

good thread .... any good book or link to visit for day trading for derivative? sick of my day job and trying to transit into day trading..

 

[maxinger]

good thread .... any good book or link to visit for day trading for derivative? sick of my day job and trying to transit into day trading..

Not sure how much I can help but anyway ...

i haven't come across books that talk about day trading derivatives in details.
I have seen a book that talk about day trading stocks in details.

similary for links, not sure if there is any link that's better than
http://www.elitetrader.com/et/index.php

then if u talk about courses, some coaches are not full time traders and it is not advisable to learn from them.
and for those who are full time traders, their trading style / methodology may not suit us.
so ended up we have to develop our own trading style/methodology/trade plan.

 

[neanea]

this is day trading mister.
and this is how day trading is done.

the way I trade very different from those
doing swing trading, position trading, or heavy scalping.

What's your trading plan?

 

[nomoreliaola]

much appreciate that ... what software and platform u use for trading?

what analysis do u do? sorry didn't catch up on your previous posts

Not sure how much I can help but anyway ...

i haven't come across books that talk about day trading derivatives in details.
I have seen a book that talk about day trading stocks in details.

similary for links, not sure if there is any link that's better than
http://www.elitetrader.com/et/index.php

then if u talk about courses, some coaches are not full time traders and it is not advisable to learn from them.
and for those who are full time traders, their trading style / methodology may not suit us.
so ended up we have to develop our own trading style/methodology/trade plan.

 

[maxinger]

much appreciate that ... what software and platform u use for trading?

what analysis do u do? sorry didn't catch up on your previous posts

i use esignal, IB, PATS, TOS, Zaner

not sure what u mean by analysis.
but basically trend analysis very important.
when market opens, we have zero idea what the big boys are trying to do for today.

So we have to decode from the chart whether it is

- uptrend / downtrend. for such case, we look for continuation signal

- jerky / garbage (ie big boys still undecided what to do).
for such case, better sit on our hands.

- or price is going to swing up and swing down and up and down .... with wide range.
for such case, we look for reversal signal, not continuation signal.

in real life, trend could be rather crooked / messy / jerky and there could be trend within trend ... so that makes trend analysis challenging

 

[neanea]

What's your trading plan? Give some example trades with explanation?

i use esignal, IB, PATS, TOS, Zaner

not sure what u mean by analysis.
but basically trend analysis very important.
when market opens, we have zero idea what the big boys are trying to do for today.

So we have to decode from the chart whether it is

- uptrend / downtrend. for such case, we look for continuation signal

- jerky / garbage (ie big boys still undecided what to do).
for such case, better sit on our hands.

- or price is going to swing up and swing down and up and down .... with wide range.
for such case, we look for reversal signal, not continuation signal.

in real life, trend could be rather crooked / messy / jerky and there could be trend within trend ... so that makes trend analysis challenging

 

[maxinger]

What's your trading plan? Give some example trades with explanation?

ok. let me give example.
talk about last fri sgp simsci.
there was signal to go long at 9.05am (see first arrow).

set stop loss at 6 ticks and target profit at 12 ticks.

target profit hit within 10 minutes.


12 ticks equivalent to $240 per contract.
for this case, not wise to set high target profit because unlikely price can go up so much.

 

[maxinger]

mon asian markets view

sgp simsci
overall downtrend. 340 provides temporary support.


nikkei
last fri inside day, small day range hovering around 20500.
soon it might breakup / breakdown from recent day range.


china A50
day range shrinked considerably.
now in gentle bull channel / bear flag depending on your frame of mind.

taiwan TW
overall downtrend.
past 2 days day range rather small at 1%.
soon it has to retrace up .
next support level seems to be quite far away.

gold
now in gentle bull channel / bear flag depending on your frame of mind.

forex
not worth analysing.

 

[maxinger]

european markets view

stoxx 50
past few days healthy day range.
day chart shows some downward biased.

WTI Crude oil
obviously downtrend

forex
not analysing. not worth the risk.

10 yrs treasuring bond /eurodollar futures
i'd better get the charts ready. who knows, it might trend soon.

 

[neanea]

Why forex not analysing?

stoxx 50
past few days healthy day range.
day chart shows some downward biased.

WTI Crude oil
obviously downtrend

forex
not analysing. not worth the risk.

10 yrs treasuring bond /eurodollar futures
i'd better get the charts ready. who knows, it might trend soon.

 

[maxinger]

Why forex not analysing?

as of now, i don't find forex moving decisively. since there are other better things to trade, i wouldn't trade forex.

 

[maxinger]

seems like stoxx50 unable to break 3540 level.
so it is going down.
let's see how low it can go.

 

[maxinger]

US markets view

Russell
last fri price moved in open wedge formation.
day chart shows price trapped in descending converging triangle with level 1200 supported.

day range has been healthy past few weeks.
so it might continue to be healthy.

gold futures
overall downtrend. not likely to have signal to short over the next few hrs. daily volume rather low.

wti crude oil
retraced up. not likely to have signal to short over the next few hrs.