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What is the Best way to Participate in these two Trades?
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What is the Best way to Participate in these two Trades?

  #1 (permalink)
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Valdosta, GA. U.S.A
 
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What is the Best way to Participate in these two Trades?

What is the Best way to Participate in these two GC 12-13 Trades in the Chart.
The Best way as far as your Risk Tolerance and choice of vehicle used like a Contract , Option, ETF or something else.
The First Trade on Thursday 8-01-13 is Break out to the Downside from Triangle Formation that was Fueled by ISM Mfg Index Report and is an Overnight Position.
The Second Trade occurred on Friday 8-02-13 Generated from the Monthly Non Farm Payroll Report to the upside.
Each Trade Produced Approximately 3500 Ticks or Dollars if Trading with Full size Contract.
Would you use Contract, Option or some other Vehicle like ETF to Trade these two moves.
Please be detailed in how you would Participate if you had taken the Trades, Not in Entry or Exit prices, But in what Vehicle like Contract, Option or ETF or any other vehicle that closely moves with the underlying Contract.
We have hindsight on our side, so i am interested of anyone's input and analysis of how they would have participated.
Thanks in advance for everyone's input on these two scenarios.

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What is the Best way to Participate in these two Trades?-gc-12-13-25-betterrenko-8_2_2013reports.jpg  

Last edited by sandptrader; August 2nd, 2013 at 06:30 PM. Reason: added Dollar amount if trading with full size Contract
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  #2 (permalink)
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  #3 (permalink)
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sandptrader View Post
...
We have hindsight on our side, so i am interested of anyone's input and analysis of how they would have participated.
Thanks in advance for everyone's input on these two scenarios.

Just identify key areas of demand/supply and you'll have a good reason to participate.

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  #4 (permalink)
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Valdosta, GA. U.S.A
 
Futures Experience: Advanced
Platform: Sierra ,NT, TOS
Favorite Futures: 6E, 6J, CL, GC
 
Posts: 480 since Sep 2010
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Trades

Didn't get much response out of this topic ...but the reason i asked how you would trade these 2 short term trends was mainly due to the overnight trade.
What i wanted to see was if there was a safer way to hold the overnight position being that i will not hold a position overnight with a Contract.
Even Options are out of the question unless they will expire soon, because there is still too many dollars at risk overnight.
So, i will stick to Day Trading with Contracts, as i have not found any safe way to hold the overnight positions that would allow me to keep from risking too many dollars.
If i do Trade overnight it would be with an Option that has less than 2 weeks left till expiration, that way i want be risking a fortune if i am wrong.
I did do this on GC about 7 weeks ago which i bought august 1350 call on GC for $ 940 with about 2 weeks left till expiration.
Well in 12 days including weekends i sold the call for $ 5100 after comm.
You can see GC made it back up to the 1350 area on this Daily chart like i was thinking it would, and i sold the call option just before somewhere around 1348 .
Anyway the point is i was curious if anyone used other trading vehicles like this, and what they might be for overnight positions.
Not sure if there is any other way to hold overnight based on not risking a small fortune.

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What is the Best way to Participate in these two Trades?-gc-08-13-daily-4_19_2013-8_1_2013.jpg  
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  #5 (permalink)
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Question

Hi sandptrader,

Are you trading futures options contracts? I have traded options on stocks and etf's before and switched to daytrading cl & gc this year. I have been considering trading options on futures but the spreads are too large. So the only way I can figure to get the spreads in line without being so upside down when buying a call or put would be to trade "GLD" & "OIL" etfs.

Just wondering if that's what you are doing. Any better ideas?

Thanks

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  #6 (permalink)
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Posts: 480 since Sep 2010
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Thanks for your reply

Thanks for your reply dnkhoward2.
Well that was my first Futures option trade in some years now, and it turned out good.
I wasn't concerned with the spread=Bid/Ask on that set up because of the Target on the Daily, if it had been for a daytrading situation i would have traded with a Contract.
As far as ETF i am ignorant in that field, that was one of the reasons i mention that vehicle as to get someone's view on possibly using it for taking positions in those GC trades.
I am in the same situation as what your wanting to know, i am really interested in what vehicles to use mainly for overnight trades when the options are priced too high, or too much time till expiration.
Maybe some type of Credit spread would work?
by the way what ETF's are you looking at?
GLD and OIL are the Etf's actual name/symbol


Last edited by sandptrader; September 6th, 2013 at 01:56 PM. Reason: i see now- GLD AND OIL are the actual ETF name?
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  #7 (permalink)
Elite Member
Dover, Fl
 
Futures Experience: Intermediate
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dnkhoward2's Avatar
 
Posts: 151 since Mar 2013
Thanks: 838 given, 156 received

I have been looking for a while for instuments with the most volume, lowest spreads, and something that follows the futures movement the closest and I believe those are "GLD" for GC, and "OIL" for CL. I look at them on freestockcharts.com or stockcharts.com because the options xpress platform in not that great.

I am seeing that GC is less choppy over the long term over CL and I will probably focus on gold for swing trading.

Nice trade on gold you mentioned earlier.

I forgot to mention 2 more potential option trades for oil. They are "USO" & "OIH".


Last edited by dnkhoward2; September 6th, 2013 at 02:26 PM.
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  #8 (permalink)
Elite Member
Valdosta, GA. U.S.A
 
Futures Experience: Advanced
Platform: Sierra ,NT, TOS
Favorite Futures: 6E, 6J, CL, GC
 
Posts: 480 since Sep 2010
Thanks: 1,825 given, 466 received

1300 call option...Not 1350


sandptrader View Post
Didn't get much response out of this topic ...but the reason i asked how you would trade these 2 short term trends was mainly due to the overnight trade.
What i wanted to see was if there was a safer way to hold the overnight position being that i will not hold a position overnight with a Contract.
Even Options are out of the question unless they will expire soon, because there is still too many dollars at risk overnight.
So, i will stick to Day Trading with Contracts, as i have not found any safe way to hold the overnight positions that would allow me to keep from risking too many dollars.
If i do Trade overnight it would be with an Option that has less than 2 weeks left till expiration, that way i want be risking a fortune if i am wrong.
I did do this on GC about 7 weeks ago which i bought august 1350 call on GC for $ 940 with about 2 weeks left till expiration.
Well in 12 days including weekends i sold the call for $ 5100 after comm.
You can see GC made it back up to the 1350 area on this Daily chart like i was thinking it would, and i sold the call option just before somewhere around 1348 .
Anyway the point is i was curious if anyone used other trading vehicles like this, and what they might be for overnight positions.
Not sure if there is any other way to hold overnight based on not risking a small fortune.

I posted the wrong strike price....it was 1300 call with a Price Target of 1350 in the Chart.

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