Hang Seng Futures

Discussion in 'Index Futures' started by ProfitTakgFool, Jul 28, 2008.

  1. I'm looking for an index contract to trade in the evening and the info you provided is fantastic. Thanks for sharing!!

     
    #11     Jul 28, 2008
  2. I misspoke regarding the commission, it's actually $4.60 round trip until you hit the volume breaks (which start after 300 sides / month w/ IB).

    I'll try and post some charts later on tonight between trades to show that it moves just like anything else traded by human beings.
     
    #12     Jul 28, 2008
  3. Glad to be of help, PTF.

    Since I've read many of your posts, and feel that I'm somewhat familiar with your trading style, allow me to make a comment or two regarding counter-trend trading STW.

    This contract can be quite trendy... I might be wrong (haven't done the research) but I'm willing to bet it has one way-directional sessions more often than the US indexes. That said, 38% and 50% retracements are very common on those days. A word of caution though... I've seen this thing rip 50-60 ticks in one direction within 5 minutes with no more than a 3-4 tick pullback during the move. It's quite crazy when you think about the % of the underlying. The action in the DOM is fierce... true panic. I've seen these moves both at the beginning of trends and at the end of trends (capitulation). I am mainly a trend following / scalper but I will occaisionally strap on one of my daughter's diapers and start fading those moves when it's at the end of a trend (meaning it has been a one-way day but there is still at least 1 hour left in the cash market), but I keep lots of powder dry to scale in and won't put on my first unit until it's already moved at least 25 ticks w/o a pullback. I don't fade these moves at the beginning of trends, as I have found pullbacks in the early stages of the Taiwan trends can be very shallow, sometimes only 5 ticks. I haven't had to take a loss on one of those trades yet, but I imagine the day will come that the pullback won't be strong enough to get me out at my minimum profit, and I'll have to bite the bullet. On the other hand I am also prepared to bail if the pullback never comes.

    Anyway, you'll have to do your own research. Unlike some traders, I don't think your trading style is doomed to failure... after all, I think Linda R. said she was buying on Black Monday and made a profit the next day. However, you should at least be aware of what the contract is capable of and be prepared for it.

    Good luck!
     
    #13     Jul 28, 2008
  4. As promised, here are some 1 minute charts from the last couple of weeks for your viewing pleasure:
     
    #14     Jul 28, 2008
  5. Night of 7/15. Ticks are $0.10.
     
    #15     Jul 28, 2008
  6. Night of 7/16
     
    #16     Jul 28, 2008
  7. Night of 7/17
     
    #17     Jul 28, 2008
  8. Night of 7/20
     
    #18     Jul 28, 2008
  9. Night of 7/21
     
    #19     Jul 28, 2008
  10. Night of 7/22. Time is US Central.
     
    #20     Jul 28, 2008