Get it while it's HOT

Discussion in 'Index Futures' started by mikeriley, Aug 4, 2022.

  1. schizo

    schizo

    Man, you got too many damn lines on that chart. o_O

    Anyway, happy you scored 76 ticks. But, if I may point out 1 thing, your risk is almost twice as your reward. I've been told it should be the reverse.
     
    #11     Aug 4, 2022
  2. maxinger

    maxinger


    Soon OP has to top up his trading account.
    OP should revamp his trade plan.


    Reward : risk ratio should not be 0.5.
    It should be 5 for better.


    If he had traded the Taiwan index futures (which I mentioned in my earlier posting),
    he would have achieved an RR of > 5.
     
    #12     Aug 4, 2022
  3. The entry was posted AFTER the screaming up bar.
    Thats why I discount it

    Sadly, we know if it went the other way, we would never hear about it .
    Live entries or nothing.
    upload_2022-8-4_22-39-56.png
     
    #13     Aug 4, 2022
  4. .

    That's a nice chart.

    Was wondering - if the horizontal green, brown and red lines are the target, entry and stop-loss prices, what is the horizontal blue line?
     
    #14     Aug 4, 2022
  5. mikeriley

    mikeriley

    Yes, that's true. I actually use a reverse strategy IF price
    goes against me. NQ needs "room" to move, or the short
    back & forth price action will stop you out.
     
    #15     Aug 4, 2022
  6. mikeriley

    mikeriley

    Actually, only 2 lines should be on the chart. I was just sloppy
    and did not remove my lines from earlier days this week.

    Green line is absolute top 13356.00 (Last session)
    Red Line is absolute bottom 13184.75 (Last session)
    Blue Line is a ZLEMA - I use as a guide on some trades.
    Brown line is just a price line/entry level (Looks beige/whitish on my screen)

    My plan for this Trade.
    The high was 13356.00. I knew many would be looking
    to see if price broke that level. I looked left, and saw at least 6+ hours of price steady climbing. That was enough to assume price might break the 13356 level.

    In anticipation of price continuing to climb, I subtracted 10 ticks, and took entry at 13346.50

    On 2nd trade I did eventually reenter at 13370 and Exit at 13378.
     
    Last edited: Aug 4, 2022
    #16     Aug 4, 2022
    MACD and Slope Trader like this.
  7. easymon1

    easymon1

    This is Music to my ears. Thank you max.
     
    #17     Aug 4, 2022
  8. The highest in the past 1 year (ie. TTM) was about 16628 on about Nov 19 last year.
    Currently it's at 13321. That's a change of about -20% in about 8 months.
    Let's suppose a trader makes this ideally timed short trade on the said date.
    What would the profit be as of now, based on the collateral the trader had to put on the table (ie. margin or cash requirement)?
    Is the net profit more than +20%, or is here +20% the max possible?
    Sorry, I'm not a futures trader, am just curious to learn the maths & the rules of the game. Thx.

    The main advantage seems to be the big liquidity (AvgVolume * AvgPrice) for trading some big money.

    And: can one say that tensions like the current ones are useful (at least for the sellers) as then the uncertainty (--> volatility) rises, causing the premiums to rise?
     
    Last edited: Aug 5, 2022
    #18     Aug 5, 2022
  9. mikeriley

    mikeriley

    I know there's people on this site more qualified
    than me to answer your questions. Especially
    since I'm not a math guy. But I found this
    book to be very helpful. Just click the link
    below to get the book.

    https://u1lib.org/book/2871310/9f97e4

    Screenshot_2.png
     
    #19     Aug 5, 2022
  10. Man, you are the guy who opened this thread recommending this trade.
    And then even recommending the above book on futures trading.
    But still you can't even say how much profit one would make with this trade, not even after studying this book on futures trading.
    Is the book that bad that it didn't teach you even this simple thing, or is there maybe another reason? :)
    Are you maybe just making some advertisements or so?
    Come on! I think not much credibility remains... :)
     
    #20     Aug 5, 2022