Grantx intro - Beginners and Introductions | futures.io
futures.io futures trading


Grantx intro
Started: by Grantx Views / Replies:743 / 24
Last Reply: Attachments:1

Welcome to futures io.

Welcome, Guest!

This forum was established to help traders (especially futures traders) by openly sharing indicators, strategies, methods, trading journals and discussing the psychology of trading.

We are fundamentally different than most other trading forums:
  • We work extremely hard to keep things positive on our forums.
  • We do not tolerate rude behavior, trolling, or vendor advertising in posts.
  • We firmly believe in openness and encourage sharing. The holy grail is within you, it is not something tangible you can download.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.


You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple, and we will never resell your private information.

-- Big Mike

Reply
 1  
 
Thread Tools Search this Thread
 

Grantx intro

  #21 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
Favorite Futures: Futures
 
xplorer's Avatar
 
Posts: 2,037 since Sep 2015
Thanks: 3,896 given, 2,734 received
Forum Reputation: Legendary


Grantx View Post
  • I buy a contract at the 1933.75 level. This is just a price level, the contract per tick is $10 (to keep it simple)
    OK
  • I am now behind by the initial $10 + $3 entry commission. Making a total of $13 that I need to now recover to get to breakeven.
    Correct
  • Price advances one tick. I make $10. But I'm still down $3 because of initial entry commission.
    Probably a matter of terminology but 'making $10' after 1 tick equates to breaking even and down 3$ commission. Again, it's about terminology, as for me 'breaking even' means you don't lose anything, whereas with 0 ticks you're actually down because of commissions.
  • Price advances another tick. I'm now in profit by $7.
    Correct
  • If I sell on that 2nd tick, I pay a $3 commission exit meaning I'll be up a total of $4.
    Correct


Bear in mind that 6$ commissions round trip sounds high to me. By shopping around you can get that down. For certain products you can probably halve it.



Grantx View Post
Problem for me right now is that I dont even know what that depth of market chart means. I don't want to annoy anyone on this forum with such newb questions. If you would kindly point me in the direction of a basic tutorial or something I would really appreciate it. I can then come back with something a bit more intelligent to ask.

By the way, how good are those videos in the elite section of this website? I obviously don't have access to them at the moment. Are there beginners to advanced topics covered?

Thanks

One set of videos that goes from the start and I find excellent (and free) can be found here

Free Tape Reading and Order Flow Training Materials

It's actually a fairly comprehensive course made of videos and textual content.

Reply With Quote
The following user says Thank You to xplorer for this post:
 
  #22 (permalink)
Elite Member
Reading UK
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Dorman, CQG
Favorite Futures: US treasuries, Bund, Schatz
 
Posts: 87 since Oct 2016
Thanks: 62 given, 34 received

Thank you all so much xplorer for your help.
Im off to watch some videos and do some reading.
My next question will hopefully be from a more informed understanding.


Reply With Quote
The following user says Thank You to Grantx for this post:
 
  #23 (permalink)
Elite Member
Leeds UK
 
Futures Experience: Intermediate
Platform: FXTrade
Broker/Data: Interactive Brokers, CapitalSpreads, Oanda
Favorite Futures: GBP/USD
 
Tymbeline's Avatar
 
Posts: 372 since Apr 2015
Thanks: 815 given, 453 received



Grantx View Post
Problem for me right now is that I dont even know what that depth of market chart means.


Have you ever seen Betfair, Grantx? It's exactly the same thing - just set out slightly differently. It effectively shows the "money waiting" to buy/sell at given prices.

Reply With Quote
The following user says Thank You to Tymbeline for this post:
 
  #24 (permalink)
Elite Member
Reading UK
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Dorman, CQG
Favorite Futures: US treasuries, Bund, Schatz
 
Posts: 87 since Oct 2016
Thanks: 62 given, 34 received


xplorer View Post
One set of videos that goes from the start and I find excellent (and free) can be found here

Free Tape Reading and Order Flow Training Materials

It's actually a fairly comprehensive course made of videos and textual content.

Thank you so much for posting these videos. They are quite long so I am working though them slowly because I want to absorb what he has to say. So far I have found it to be excellent material! Just in the 1st video alone I have learnt so much about how and why the market moves.

Quick question: When trading a futures market, I can see at any time if there is a high volume of pending Ask orders above the current price (when the market is trending up) and also I have the tools to see the volume of Bid orders coming in to eat up the Ask orders?
So to put another way: Spot Forex gives you no clue as to volume or where pending orders are sitting, a trader has to determine that for themselves using technical analysis. But in futures, I can see exactly where the pending orders are (because of centralised exchange) and also how much volume/demand is currently flowing in to consume those limit orders? So when price hits a level on the candle chart, I can take a quick look and see the volume of pending orders above versus the volume of pending orders below? If there is more liquidity (in the form of Bid orders) below than above, the market in theory should go and seek that liquidity out?

Reply With Quote
The following user says Thank You to Grantx for this post:
 
  #25 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
Favorite Futures: Futures
 
xplorer's Avatar
 
Posts: 2,037 since Sep 2015
Thanks: 3,896 given, 2,734 received
Forum Reputation: Legendary

Futures Edge on FIO

Which time slot for our live webinar events works best for you?

 

Grantx View Post
Thank you so much for posting these videos. They are quite long so I am working though them slowly because I want to absorb what he has to say. So far I have found it to be excellent material! Just in the 1st video alone I have learnt so much about how and why the market moves.

Quick question: When trading a futures market, I can see at any time if there is a high volume of pending Ask orders above the current price (when the market is trending up) and also I have the tools to see the volume of Bid orders coming in to eat up the Ask orders?
So to put another way: Spot Forex gives you no clue as to volume or where pending orders are sitting, a trader has to determine that for themselves using technical analysis. But in futures, I can see exactly where the pending orders are (because of centralised exchange) and also how much volume/demand is currently flowing in to consume those limit orders? So when price hits a level on the candle chart, I can take a quick look and see the volume of pending orders above versus the volume of pending orders below? If there is more liquidity (in the form of Bid orders) below than above, the market in theory should go and seek that liquidity out?

Yes, however bear in mind that often the liquidity 'stated', i.e. intent does not necessarily correspond to 'fact', as resting orders can be pulled at any time. If you progress in the videos the concept is well illustrated.

But you can still gauge what liquidity does when price approaches it and then trades through it.

Reply With Quote

Reply



futures io > > > > Grantx intro

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Al Brooks: When A Good Trade Goes Bad (Risk and Probabilities)

Elite only

Ran Aroussi: Quant Trading with Python

Elite only

NinjaTrader 8: Tips and Tricks (part 2)

Mar 2

An Afternoon With FIO member @michaelemoore

Elite only

Jigsaw Trading: Keys to successfully trading the open

Mar 9

Macro view: Trump Market Risk w/Piers Curran @ Amplify Trading

Elite only

Reading the Psychology of the Market w/Brett Steenbarger & Trading Technologies

Elite only

Hybrid Machine Learning (R and TradeStation) w/Murray Ruggiero

Elite only

Spring Grains Outlook w/Sean Lusk @ Walsh Trading

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
INTRO boundji Beginners and Introductions 1 May 27th, 2016 07:08 PM
New here; my intro jshap Beginners and Introductions 3 June 8th, 2015 09:43 PM
Hi, Welcome--my Intro CaveOfPlaton Beginners and Introductions 2 July 27th, 2014 08:48 AM
Intro and hi gammaglory Beginners and Introductions 2 June 2nd, 2014 04:55 AM
Intro! dhewittjr Beginners and Introductions 3 October 24th, 2013 03:07 PM


All times are GMT -4. The time now is 07:17 PM.

no new posts
Page generated 2017-02-21 in 0.11 seconds with 20 queries on phoenix via your IP 54.161.178.52