Daily Bund Positions

[Tray_Dar]

I recently move to the Front Office desk of an investment bank and have been told by the manager that I must put on a long or short positon on the Bund future everyday. I'm not doing a large amount so I guess this is his way of 'training' me (or me training myself!)

As a starting point (while I learn the market) I was thinking of using pivots, fibs and just trading off support and resistance. However, being new to this contract I was wondering if there was anything else (indicators etc) I should be looking at that work better and would help towards an overall strategy. Thanks.

 

[kobeyashi]

Hello Tray_Dar,
If you absolutely insist on entering into a trade every day, I suggest you do this either between 1000-1100 Hrs or between 1500-1600 hrs (GMT). These timeframes, IMO, give the best opportunities to enter a short-term trade with the Bund. Unless of course, if there is a major announcement coming though at that time.

Any indicator, or set of indicators which allow you to gauge short-term price movement/momentum should hold you in good stead for this endeavour, though I don't understand why your boss requires you to trade every single day.

Regards,
Kobeyashi

 

[Tray_Dar]

Thanks for your comments, I will look into this. I also disagree with his stance as I believe in having a setup and only trading when there's a signal. But his response to this was "don't be a c**t and take a punt!". Nuff said.

 

[DC STOXX]

Thanks for your comments, I will look into this. I also disagree with his stance as I believe in having a setup and only trading when there's a signal. But his response to this was "don't be a c**t and take a punt!". Nuff said.

I like the sound of your boss, he should hire me on the first Friday of each month

Seriously though "using pivots, fibs and just trading off support and resistance" is more than you need to make good money from the markets, let us know how you do buddy!

 

[crude_lover]

go on tell us all which investment bank it is. lol im joking

 

[Tray_Dar]

I like the sound of your boss, he should hire me on the first Friday of each month

Seriously though "using pivots, fibs and just trading off support and resistance" is more than you need to make good money from the markets, let us know how you do buddy!

Maybe you missed the bit where I said "as a starting point" above.

 

[grantx]

Traydar,

On open, it's not unusual to see a deluge of orders and the bund making a sudden short-term move. You could trade this by going with the flow - in and out in a few seconds for a few points. Regarding reaction to news events, same thing; go with the flow if one side dominates, ie buyers or sellers (refer to your Time and Sales for the Order flow). Don't go in if the buying/selling seems fairly even and the direction is unclear. Again, good for quick few points.

Are you looking to scalp or take directional trades? In your situation, especially regarding almost zero costs, scalping may be more suitable.

Grant.

 

[Mpoufos]

use gann levels

 

[DC STOXX]

im curious, what clip size does your boss want you to start off with in the Bund?

 

[A Dashing Blade]

I'm even more curious, what exactly does this desk do?

 

[Tray_Dar]

Grant - I have noticed this opening move, generally if it gaps up or down you can go with the flow and should be good for a few points. At the moment I have enough time to scalp but as role evolves I will look place more directional trades. I also look at the Schatz and Bobl and did well on my first Schatz trade yesterday however, gave it back on the Bund today as I placed the stop too close by one tick!

Mpoufos - been looking at fibs at the moment but will experiment with gann as well, cheers

Black-star - 50 Bunds, 100 Schatz /Bobls

Dashing Blade - I can tell you but then I'd have to kill you....

 

[grantx]

Tray-Dar,

Did you see the reaction to the news at 12:30 (US figures)? May get a reaction to the 2:00 pm figures - US Business Inventories, Business Barometer.

Grant.