Swing Trading Futures

[karoshiman 10]

Long in Crude Oil (mini) at 96.80. Strong reversal yesterday after retracement.

[karoshiman 10]

Long British Pound at 1.5785 (March). This weeks high just been taken out. Looks like move back into triangle.

[karoshiman 10]

Covered Crude Oil long at 96.05 (March) with a loss.

[karoshiman 10]

Covered British Pound long at 1.5704 (March) with a loss.

[karoshiman 10]

Trying a long in Euro FX at 1.3386 (March). Uptrend intact, entry near support.

[karoshiman 10]

Covered short in Australian Dollar at 1.0212 (March) with a profit.

[karoshiman 10]

Covered Soybean long at 1414 (March) with a loss.

[karoshiman 10]

Added further to Cotton long position at 80.94 (March).

[karoshiman 10]

Covered today's Cotton long at 80.79 (March) with a small loss. Want to reduce risk here...

[karoshiman 10]

Covered Euro FX long at 1.3348 (March) with a loss.

[karoshiman 10]

Covered YM long position at 13908 (March) with a profit. Watch out, might re-enter again long, if up move continues...

[karoshiman 10]

Back in YM again long at 13960 (March).

[karoshiman 10]

Added to YM long at 13939 (March)

 

Long NQ at 2766.25 (March)

[karoshiman 10]

Short again Australian Dollar at 1.0305 (March).

[karoshiman 10]

Covered 50% of short position in Australian Dollar at 1.0277 with a profit. That was fast...

[karoshiman 10]

Covered remaining 50% of short position in Australian Dollar at 1.0314 with a profit on overall position, thanks to early profit taking.

[karoshiman 10]

Long again in Euro FX at 1.3367 (March). Same idea as before.

[karoshiman 10]

Out of Euro FX long at 1.3365 (March) at about breakeven.

 

Added to Cotton long at 82.94 (March).

[karoshiman 10]

Out of YM long at 13844 and NQ long at 2727 with a loss.

 

Short now YM at 13844. All March contracts.

[lastninja2 10]

Hi Karo,

 

I appreciate the sentiment of this thread - swing trading is increasingly of interest to me (very short-term background) particularly since I re-read Jessie Livermore + Stanley Kroll books.

 

I don't like to clog up someone else's thread, but I'd like to share a few of my favourite quotes from Kroll & Livermore...

 

"The experts are frequently wrong. A good technical approach to investing and timing, coupled with sound money management and a focus on trend following rather than trend predicting, are really the recommended ways to operate for optimum success."

ed: It is so true that analysts like to wheel out explanations for large market moves long after the fact became apparent on the chart isn't it?

 

"Every time you take a with-the-trend position, you should premise that you are in for a mega-move. By so doing, you will be encouraged to hold the position and not look for short-term trades. Let your stops take you out of those trades which fizzle"

ed: With this in mind, I think it really should be no surprise if the swing trader takes several small losses to every winner.

 

"Disregarding the big swing and trying to jump in and out was fatal to me. Nobody can catch all the fluctuations. In a bull market your game is to buy and hold until you believe that the bull market is near its end. To do this you must study general conditions and not tips or special factors affecting individual stocks."

Ed: And with that last one I'd simply like to give my very general thoughts, like Mr Partridge did in Jessie Livermores books, on the major stock index futures.

 

Displaying FDAX here, but FESX, ES would show the same story

 

http://s17.postimage.org/nyw96313h/FDAX_UP.png

 

I ask myself - what would Jessie do? Would he try and pick a top here on account of the bearish Fed Statement last night about curbing QE?

No, I believe he would be looking to buy simply on account of the path of least resistance being to the upside!

[clmacdougall 11]

Out of Euro FX long at 1.3365 (March) at about breakeven.

 

Added to Cotton long at 82.94 (March).

 

Are you still in this cotton position? It got a little bumpy yesterday for sure.

[karoshiman 10]

Out of all Cotton long positions at 81.92 (March) with a profit.

[karoshiman 10]

Are you still in this cotton position? It got a little bumpy yesterday for sure.

 

Yes, just got out. Expect some more consolidation...

[karoshiman 10]

Shorted more YM. Now average entry at 13852.75 (March).

[clmacdougall 11]

Shorted more YM. Now average entry at 13852.75 (March).

 

Do you have any profit/stop targets you are presently holding?