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postman
Just wait now.
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postman
Dow bouncing around the 620 - 660 level. Will it hold?
john jackson III
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about 200 pts higher here is my trgt
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postman
lol...I take that back!
john jackson III
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should have at least 100 pt retrace from here, ay?
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postman
We could be looking at a dow 26560 finish tonight followed by a gap up and go higher tomorrow.
john jackson III
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pulling my +200 targt for +100. the uncertainty will this impeachment stuff spooked the markets
john jackson III
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we do '740' from here i be a happy camper
john jackson III
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another contract YM @ 26586
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postman
Good call.
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postman
Yep, s&p down 50 dow 26,000 100% bounce
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SqueakyMouse
Thanks for the encouragement! The tax point definitely makes sense for UK traders.
My setup monitors ~30 futures markets and trades in ~18 of them. There is a (crude) process for monitoring daily range, tick value, and all in RT costs (in instrument currency) to give a guide to which markets are cheap vs expensive to trade. The assumption is I always also pay a spread of 1 tick per RT which isn't 100% accurate but gives a workable guideline. See the "ratio" column in the attached screengrab:
I'd find it very hard to replicate most of what I do on a spreadbetting platform but can see from your posts that you can find sufficient opportunities in YM and execute very accurately. Another question, if you don't mind: your bigger picture calls seem very accurate, but I believe you've stated that higher timeframe trading didn't produce as well for you. Is this purely a personal preference or was it significantly harder to model conditions further out in time?
Last week I see also the need for the US to move lower so not trusting any upside beyond an intraday rally, but two swing buys in the ES 2955 area (similar to your Dow zone but not quite as deep) last week (Tuesday and Friday I believe) worked out well. I've considered allocating some risk to longer term trades via options as I wouldn't want exposure in leveraged outrights overnight. The spreads on IG are quite reasonable on some of them, and you're guaranteed a fill (unlike futures options where you'll frequently not find a counterparty at a fair price and would need to offset your exposure in the underlying and wait for expiry). Nudges gratefully received.
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postman
S&P down 53 dow 26,580 110% chance of bounce
