COMMON SENSE - Trading Journals | futures io social day trading
futures io futures trading


COMMON SENSE
Updated: Views / Replies:79,040 / 1,262
Created: by mfbreakout Attachments:812

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • 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.

-- Big Mike, Site Administrator

Closed Thread
 812  
 
Thread Tools Search this Thread
 

COMMON SENSE

  #771 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading

From Bloomberg this morning

" Oil’s collapse into a bear market is excessive because there’s no oversupply to justify the sell-off, according to Goldman Sachs Group Inc.

The bank is “near-term constructive about prices” after they fell too much, too soon, analysts including Jeffrey Currie, the head of commodities research in New York, wrote in a report e-mailed today. While speculation of a global oversupply drove down prompt oil, there’s no incentive to store because forward contracts are weaker, potentially creating a near-term shortage as stockpiles are depleted, according to the bank.

“The ‘supply glut’ is not yet here today, it exists in expectations,” the analysts wrote. “Prices have also likely overshot to the downside particularly as the lower we go, the tighter the near-term balances become.”

Oil slumped as shale boosts U.S. output to the highest level in almost 30 years amid signs of weakening global demand. The biggest producers in the Organization of Petroleum Exporting Countries are responding by cutting prices, sparking speculation they’ll compete for market share rather than reduce supply. OPEC’s 12 members pump about 40 percent of world supply.

With every 10 percent drop in oil prices, consumption grows by 0.15 percent, Goldman estimated. Brent crude’s slump of almost 30 percent from its June peak may mean additional demand of almost 500,000 barrels a day, according to the bank.

Futures are paring losses as other banks including BNP Paribas SA and Bank of America Corp. predict the rout may be over. West Texas Intermediate, the U.S. benchmark crude, rose as much as 1 percent to $83.52 a barrel in New York. London-traded Brent climbed 1.1 percent to $86.79, also gaining a second day."

Thank You GS, BAC etc but we already know based off yesterday PRICE ACTION that $80 level is support till proven wrong. O.K, we got support, how about resistance? How high CL can bounce? One step at a time. Just like as price moved to the down side and with each support broken we moved to the next one. Similarly, as each resistance is broken we will move to the next one.

For the time being resistance is above 85. Once 85 gets taken out with CONVICTION, we will look for next level.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
The following 6 users say Thank You to mfbreakout for this post:
 
  #772 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading

You should be dancing. For all the aspiring traders.




My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Attached Thumbnails
COMMON SENSE-2014-10-17_0347_trading_space.png  
The following 4 users say Thank You to mfbreakout for this post:
 
  #773 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading



mfbreakout View Post
Time to check in Euro open and CL short i put in during Euro session.


out flat 83.22 on long from 82.60 area.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
The following 2 users say Thank You to mfbreakout for this post:
 
  #774 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading


mfbreakout View Post
out flat 83.22 on long from 82.60 area.

Before heading back to bed, i had a small wish for CL. CL may not hit ultimate target in the time frame and manner i may wish but short set up was as clear as it can get in a UNKNOWN trading world based of probabilities. Context/Probabilities first everything else is a side show. The more side show one likes the more bells and whistles one rely on. Set up was based off edges off the trading floor which unlike dance floor is not fixed.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Attached Thumbnails
COMMON SENSE-2014-10-17_0747_range_short.png   COMMON SENSE-2014-10-17_0742_prayer.png  

Last edited by mfbreakout; October 17th, 2014 at 09:01 AM.
The following 3 users say Thank You to mfbreakout for this post:
 
  #775 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading

I have been banned

I have been ignored

but i can't help myself

because i am a ---------.

I will have to think about filling the blanks.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.

Last edited by mfbreakout; October 17th, 2014 at 04:16 PM.
The following 2 users say Thank You to mfbreakout for this post:
 
  #776 (permalink)
Trading Apprentice
Portugal
 
Futures Experience: Intermediate
Platform: MetaTrader, TradeStation
Favorite Futures: Forex (everything that moves with force)
 
Posts: 11 since Feb 2014
Thanks: 8 given, 14 received

Unemployment Rate updated 14Oct14

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).


The unemployment rate represents unemployed persons as a percentage of the labour force based on International Labour Office (ILO) definition. The labour force is the total number of people employed and unemployed. Unemployed persons comprise persons aged 15 to 74 who:
- are without work during the reference week;
- are available to start work within the next two weeks;
- and have been actively seeking work in the past four weeks or had already found a job to start within the next three months.
Data are presented in seasonally adjusted form.

Happy trading to all.

The following 2 users say Thank You to mapq for this post:
 
  #777 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading

I have not taken a trade since covering CL short around 83.20 area on short from 84.20 area. NQ, TF is up and up, internals are +ve every where but per my RULES i can not take longs without decent pullbacks. So sitting on hands ,enjoying music and looking for shorts. Just as ES, NQ went down way beyond what everyone thought market will go down to when market internals were -ve, similalry they can move to the upside way beyond what most people think when internals are as +ve as they are today. So be extra careful if thinking about shorts.

I have a small short in TF from 1092 area but nothing so far, just couple of points of back and forth. TF had quite a run over last couple of days and is most due for a pullback. NQ , ES up around 1.70% and TF up only .50 %. It's out of GAS.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.

Last edited by mfbreakout; October 17th, 2014 at 12:18 PM.
The following 4 users say Thank You to mfbreakout for this post:
 
  #778 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading


mfbreakout View Post
I have not taken a trade since covering CL short around 83.20 area on short from 84.20 area. NQ, TF is up and up, internals are +ve every where but per my RULES i can not take longs without decent pullbacks. So sitting on hands ,enjoying music and looking for shorts. Just as ES, NQ went down way beyond what everyone thought market will go down to when market internals were -ve, similalry they can move to the upside way beyond what most people think when internals are as +ve as they are today. So be extra careful if thinking about shorts.

I have a small short in TF from 1092 area but nothing so far, just couple of points of back and forth. TF had quite a run over last couple of days and is most due for a pullback. NQ , ES up around 1.70% and TF up only .50 %. It's out of GAS.

Why no shorts in NQ, ES and only a scalp in TF short for 3 points?



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Attached Thumbnails
COMMON SENSE-2014-10-17_1136_no_shorts.png  
The following 3 users say Thank You to mfbreakout for this post:
 
  #779 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading

How to size a position? It depends on internals plus how much of a hold time one is willing to endure with lots of back and forth.

Either way HOLD TIME is always longer than most traders realize if they want significant portion of intra day opportunities.
Also short TF from 1091 area and around 2 hours of hold time.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.
Attached Thumbnails
COMMON SENSE-2014-10-17_1336_nq_short.png  
The following 3 users say Thank You to mfbreakout for this post:
 
  #780 (permalink)
Elite Member
BOSTON, MA
 
Futures Experience: Advanced
Platform: Tradestation, TOS
Favorite Futures: commodities, TF
 
mfbreakout's Avatar
 
Posts: 7,244 since Oct 2010
Thanks: 3,467 given, 15,240 received

Trading



mfbreakout View Post
How to size a position? It depends on internals plus how much of a hold time one is willing to endure with lots of back and forth.

Either way HOLD TIME is always longer than most traders realize if they want significant portion of intra day opportunities.
Also short TF from 1091 area and around 2 hours of hold time.

Out flat NQ around 3796 and TF 1076. If i had more contracts on, i would have left some from the short side. In summary 2 hours of wait time from NY open to see if short makes sense ( no longs) and than 3 hours of hold time from the short side. It's hard for me to imagine how home gamers can trade by looking at so called order flow via DOM etc if their goal is to clear 50% of intra day moves via 1 or 2 trades. It will be nice to see a FLUSH DOWN while internals staying green to go long. Otherwise, no trade.



My posts are not meant to give financial advice neither do they imply that my method is special. "THIS IS WHAT I COULD BE IF I HAD A TOTALLY CARE FREE STATE OF MIND DURING TRADING" Mark Douglas.

Last edited by mfbreakout; October 17th, 2014 at 03:40 PM.
The following 3 users say Thank You to mfbreakout for this post:

Closed Thread



futures io > > > COMMON SENSE

Thread Tools Search this Thread
Search this Thread:

Advanced Search



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

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
a trade on ICPT that totally makes no sense to me..... mdsvtr Options on Futures 3 May 6th, 2014 07:46 PM
Common sense trading decisions Eric j Psychology and Money Management 75 December 6th, 2012 10:12 PM
A Common-Sense View of the Stock Market kbit News and Current Events 0 August 9th, 2012 03:54 PM
Well, At Least One Thing Made Sense Today... Quick Summary News and Current Events 0 November 3rd, 2011 07:50 PM
Death of Common sense kbit Jokes 2 September 11th, 2011 01:25 PM


All times are GMT -4. The time now is 08:31 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-12 in 0.17 seconds with 20 queries on phoenix via your IP 54.90.207.75