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I am interested in discussing futures daytrading with others, if you are willing to share what you do in return. what i am willing to share is a chart for a trade that i took. My tradestation software will show the trade on a chart and i will describe the trade including market context, setup, entry, initial stoploss, profit target, and trade management. once i do that, i would expect you to reply with a chart of a future that you trade and describe the trade in a similar fashion. I don't care if you are using sim or real time trades as long as your trading software displays your trade on the chart and you describe the trade like i outlined above. the chart and trading description exchange should give us common ground for any further trading discussions. I currently daytrade crude, silver, gold, copper and dow futures. i usually trade natural gas, but the spread has been too large for me after the russia/ukraine war started. its ok if you don't trade any of these futures as long as you daytrade futures.
thanks
toucan
Can you help answer these questions from other members on NexusFi?
Ok, fine and lets see your first chart for what you want to discuss about it. Kindly do not forget to mention the time frame you show on your screen shot in case it is not clear recognizable.
Ok… crude often moves after the equities open in the usa, so what I saw was crude dropping down right after the open (context) and then price pulled back up into the low of yesterday (setup). I entered on the second down candle after the pullback (6:43 pacific time) with an initial stoploss of 0.4 points and a profit target of 0.8 points. As profits increased, I moved the stop (0.4) up several times, then changed the stop to 0.2 and the stop order took me out of the trade at 6:48. This chart is a 125 tick chart.
Thank you that you have quickly posted some insight into what you trade so for ideas. I am sure that there is more behind it, since you are already since 2015 here in the forum under away.
I was primarily to encourage you as soon as possible here in the forum to show what many members, like me, interested.
To give you a very specific answer to any questions you may have, I am not in a position, since I neither such TF trade nor such ideas pursue.
I hope, however, that as quickly as possible traders will come forward here in this thread who now know what questions you have on your field of trading.
Its ok if you can't produce your own charts and analysis.. That's why I ask people to post a chart and analysis before any real discussions can be done between us. I have run into many people who say they are traders but when pressed to post, they aren't far enough in trading for any meaningful discussions. Have a good night ... Its late where you are
When reading your post, I was a bit confused to say mildly. Not every body has the same ideas and interests on this, your way of interpreting the topic. Does this now mean that we throw accusations out of the air at the other person without knowing what he is actually doing on the subject? No, certainly not.
Why should I not be able to produce my own charts with any analyses? As you trade on ticks with very low targets and a very tight stop loss, it is not what I analysis on any chart or even would trade or have traded. I look and handle charts in a far other ways compare to what you see and trade on your charts even some, and I say some, chart pattern surely evolves all over the same, regardless if using ticks or what so ever.. Only, what do I look for, value and the way of handling this information then, its a matter of personal choice. So I took the decision not to talk with you about your sincerely idea, trading style and chart as it not would fit for what you are looking for.
Any way: I hope you got the point and I wish you a nice, coming happy new year.
Sorry, but if I read "xy moves very often at..." I always ask what this has to do with analysis or trading???
I've no idea what your first example has anything to do with analysis. I really really don't want to blame you, but I've no idea what you want to tell us with this???
And FYI you will see way better moves 30min before US cash-open (former CL Pit-open)
Sorry, I was confused by your first response and misinterpreted what you were saying.
I was asking for you to show a chart and describe what your thoughts were when you made a trade. My description was an example of what I do. All traders have their own process and we are all different. That’s why I wanted to have a discussion. My description is based on what I see when I am trading. This isn’t about my chart or forcing people into the way that I make decisions and trade. However, if you trade, then I assume that you use some type of chart and think about some type of analysis/decision making when you are looking for trades, deciding to enter a trade, and perform some type of trade management that includes initial stoploss and profit taking. I have found over the years, that if we each put up our own chart and describe what we were thinking when we saw something that we wanted to trade, and the trade management, then it helped with the discussion about daytrading.
Again… sorry for the confusion and I know all traders have different ways of trading. That’s why I was interested in discussing daytrading futures.
we each have our own way of trading and what i described was the thought process and steps that i go through when i am trading. I used that as a simple way of leading into a discussion about futures daytrading. Usually, when we each put up a chart and describe a trade, that leads to a further discussion about daytrading. I agree with you about better moves 30 min prior to the equities open. I look for trades at both 30 min prior and right after the equities open.
Thanks for clarification from your side and let's see how the thread will move on. And yes: Surely it is not a bad idea you have in mind. I guess, and this is just a guess, not every body will post here his actual trading chart ideas. Some are no more much active in the business because of there age and others just want to keep there current trading ideas behind the line. But I am sure, many of us have a huge arsenal from older charts saved in there archives on which trading ideas have been worked out and defined before they went live.
On the other hand: There are live trading journals here in the forum which show such live charts and then the trader explains his thoughts behind it. I will follow this thread and maybe once will post some charts from my world which is/was more from the option strategies side. More or less no more really active, at least for the moment, but I have an archive about what ever in trading done, learned and used..
and let's see how the thread will move on. And yes: Surely it is not a bad idea you have in mind. I guess, and this is just a guess, not every body will post here his actual trading chart ideas. Some are no more much active in the business because of there age and others just want to keep there current trading ideas behind the line. But I am sure, many of us have a huge arsenal from older charts saved in there archives on which trading ideas have been worked out and defined before they went live.