Futures Trader

Diary of a Futures Trader. Not Investment Advice.

[Futures Trader @readthefutures]

@TradingComposur These are all “thoughts” that can be observed without the need to believe in them. You are not your thoughts. You are the one watching them.

[Futures Trader @readthefutures]

Shoutout to all my Indonesian followers with engagement 🇮🇩💪

[Futures Trader @readthefutures]

This 1H candle close could be the swing high candle. Ref: 7854 #ES

[Futures Trader @readthefutures]

We are in price discovery mode right now.

Doesn't seem like buyers have enough juice to get it back up to 7870.

Looking for sellers to take it back below 7847 then looking for 7820 to print.

#ES #SPX #Futures #Trading

[Futures Trader @readthefutures]

If we break and hold 7850 - likely to see 7870 #ES

[Futures Trader @readthefutures]

Buyers struggling to take price past 7850. If rejected, 7830 incoming. #ES

[Futures Trader @readthefutures]

If we break and hold 7850 - likely to see 7870 #ES

[Futures Trader @readthefutures]

Our stop is now at the previous swing high of 7878. Why?

1. If buyers eclipse this swing high, it tells you the auction has shifted and sellers are no longer in control

2. We already took half size off on the initial move to 7845. We make money regardless.

3. Happy to get stopped out and re-enter short. We're not married to any trade. Only risk.

4. You're not a trader. You're a risk manager.

#ReadTheFutures #ES #Trading #Playbook #RiskManagement

[Futures Trader @readthefutures]

You could actually go long here at this 1H candle close and play for a retest of 7870 if you want to get cute

For a swing trade lower, you should wait for the retrace and then add size on a confirmation of rejection.

Does that make sense? #ReadTheFutures #Trading #ES

[Futures Trader @readthefutures]

@Pinescripts101 Stop was at 7898 - above the intraday high. Good call out.

[Futures Trader @readthefutures]

Close below 7870 will lead us to a retest of 7845.

We are short up here, half size, after getting stopped out in the overnight.

This parabolic action is goofy. Any market makers out there care to explain what's happening under the hood?

#ES

[Futures Trader @readthefutures]

🎯Close below 7870 led us to a retest of 7845 and then some. Took off half at 7845 and moved stop to breakeven. This now becomes a risk free trade and a great example of how to manage risk. #ES

[Futures Trader @readthefutures]

Close below 7870 will lead us to a retest of 7845.

We are short up here, half size, after getting stopped out in the overnight.

This parabolic action is goofy. Any market makers out there care to explain what's happening under the hood?

#ES

[Futures Trader @readthefutures]

Currently +100 points from Sundays open. Wouldn't surprise me if the auction stalled here and became range bound between 7870 <> 7894. First one to break decides the next leg.

#ES

[Futures Trader @readthefutures]

Weekly Update: 7812 held and bulls won the auction, sending price up 1%.

We think this reverses at these levels. Ref: 7874

#ES

[Futures Trader @readthefutures]

Week of Oct 4:

Resistance at 7812. If bulls want to start the next leg higher, 7812 has to be claimed and held.

If 7812 fails, we are looking at 7734 with an overextension to 7712.

#ES #ReadTheFutures

[Futures Trader @readthefutures]

Buyers trapped at 7892 #ES

[Futures Trader @readthefutures]

The conservative play would have been to wait for a definitive break of prior resistance (7812) before entering short.

That's why we only went half size on the trade. Entry was great, buyers were strong. Stopped out and moved on to the next play. Another example of good risk management.

Auction is still extended up here. Approaching a 3-sigma move from fair value. We will find liquidity up here - the question is - how far will we retrace?

#ReadtheFutures #ES

[Futures Trader @readthefutures]

Stopped out

[Futures Trader @readthefutures]

Stopped out

[Futures Trader @readthefutures]

This is no man’s land. Sellers likely to appear shortly. First target: 7777.

Short half size here. Will enter full size once we see aggression. Stop 7850. Size responsibly.

Ref: 7832 #ES