Anyone scalping the FTSE Futures??

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Old Sep 18, 2012, 5:39pm   #14393
 
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Re: Anyone scalping the FTSE Futures??

This may be of interest to Spread Bettors.......
Apologies if it has been reported elsewhere........

City Trader On Trial For Fraud Lost £123,000 Spread Betting
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Old Sep 18, 2012, 5:57pm   #14394
 
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Re: Anyone scalping the FTSE Futures??

Quote:
Originally Posted by et. View Post
Thanks, this is good advice. I always use a stop. A short one, and am prepared to cut losses. Here is where I need to improve:

1. Reward to risk ratio. I've often made trades at 1 minute level expecting 6 point move. while my stop is only six. My most recent trades a week or so ago attempted to rectify this by trading at higher level where I expected 10-20, but I failed to predict the bottom/top. This error lead to my current strategy which is a slight improvement.

2. "it is where you exit a trade that moves your account, not where you enter". In the time before it moves in which you get to think, I can come up with all sorts of ideas. If it moves in my favour straight away, I'm fine, but if it just hovers or goes against me slightly, I have doubted myself and tried to imagine scenarios where I'm wrong. All of a sudden I notice something I hadn't picked up on before and think "made a mistake!" and exit, then once I've exited I have another look and then work out I was making a mistake in the reanalysis and I was right the first time. One solution to this could be to enter trade and walk away. There are very few instances when I've made a mistake compared to those when I've reanalysed and incorrectly thought I had made a mistake.
et

OK, Forget prediction and think "here's where I'm going to make an assumption".

Questions:

1. what will confirm that my assumption looks like being right? - entry or addition
2. what will confirm that my assumption looks like being wrong? - stoploss
3. what do I need to get out of this to meet my money management criteria?
4. Is that feasible?

You may, of course, have a much better target in mind, but it's probably worth thinking of that as a bonus to 3 above if price goes on towards your assumption of where it might go.

If you get nervous about your trades then maybe working with zones rather than line prices may help. Or you could enter with half position and make up to full on the answer to 1 above - if you were stopped you could always re-enter with another half position if your analysis assumption hadn't changed. If you were stopped on that too, then you'd have only suffered a one position loss overall.
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Old Sep 18, 2012, 6:02pm   #14395
 
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Re: Anyone scalping the FTSE Futures??

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Originally Posted by jungerns View Post
This may be of interest to Spread Bettors.......
Apologies if it has been reported elsewhere........

City Trader On Trial For Fraud Lost £123,000 Spread Betting

spreadbetting is a good way to launder money and avoid capital gains tax

Last edited by SuddenDeath; Sep 18, 2012 at 6:11pm.
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Old Sep 18, 2012, 6:08pm   #14396
et.
Joined Mar 2012
Re: Anyone scalping the FTSE Futures??

To those 50+ rogue hedge fund traders out there following my every word... I have made many terrible calls prior to getting the 5933 and some other good ones, and cannot myself trade. I was wrong this morning thinking it would find support at a higher price. I don't think it is advisable that you should mirror trade my calls. I found 7 min + in SuddenDeath's recent vid very useful.

That said, I'm hoping this is a head and shoulders. Neckline to top of head would be 24 points, which would take us down to 5834. However, that doesn't always work, and I'm calling c5846.
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LT outlook: FTSE to preliminary 7500 with possibility of flash crash to 4500 first (last updated: 14/09/2012).
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Old Sep 18, 2012, 6:21pm   #14397
et.
Joined Mar 2012
Re: Anyone scalping the FTSE Futures??

Quote:
Originally Posted by barjon View Post
et

OK, Forget prediction and think "here's where I'm going to make an assumption".

Questions:

1. what will confirm that my assumption looks like being right? - entry or addition
2. what will confirm that my assumption looks like being wrong? - stoploss
3. what do I need to get out of this to meet my money management criteria?
4. Is that feasible?

You may, of course, have a much better target in mind, but it's probably worth thinking of that as a bonus to 3 above if price goes on towards your assumption of where it might go.
Again good advice but I have this all written down. Main issue is that I stop thinking, panic. Need a psychologist. Some might say a straight jacket


Quote:
If you get nervous about your trades the maybe working with zones rather than line prices may help.
I like lines, and I recognise them as zones too.

Pivot points offer another possible basis of zonal trading. I worked out pivot points from annual HLOC. Zone would be e.g. 10 pips either side. 5871 is an annual pivot and it is currently behaving as a resistance zone.

Quote:
Or you could enter with half position and make up to full on the answer to 1 above - if you were stopped you could always re-enter with another half position if your analysis assumption hadn't changed. If you were stopped on that too, then you'd have only suffered a one position loss overall.
Thanks for the idea. I've tried re-entering after getting stopped but it is a very good idea to re-enter with half you did before. You were wrong the first time so it's possible you are simply wrong, so it would not be wise to enter with a whole stake. If you are in right the second time, you may be entering at a much better value position.
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The trend shines ahead a light which shows the wall, where it has to turn back. But the torch can be turned by a higher power before it gets to the wall and the light will shine on a different wall.

LT outlook: FTSE to preliminary 7500 with possibility of flash crash to 4500 first (last updated: 14/09/2012).
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Old Sep 18, 2012, 6:26pm   #14398
 
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Re: Anyone scalping the FTSE Futures??

Quote:
Originally Posted by et. View Post
To those 50+ rogue hedge fund traders out there following my every word... I have made many terrible calls prior to getting the 5933 and some other good ones, and cannot myself trade. I was wrong this morning thinking it would find support at a higher price. I don't think it is advisable that you should mirror trade my calls. I found 7 min + in SuddenDeath's recent vid very useful.

That said, I'm hoping this is a head and shoulders. Neckline to top of head would be 24 points, which would take us down to 5834. However, that doesn't always work, and I'm calling c5846.
et, how did u come to the ftse level 5834 ? i got there by converting contract fib levels from ES`Z
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Old Sep 18, 2012, 6:28pm   #14399
 
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Re: Anyone scalping the FTSE Futures??

Quote:
Originally Posted by SuddenDeath View Post
VIX 14.40 (below 14.71) so sluggish markets

Fedex, to find the truth about their report is very hard. I trust FT,..

FedEx warns on slowing global trade
posted above at 3.22pm today.

VIX below 14.71 and market is very sluggish, its out of juice, but no one running for the parachutes (bidding up VIX)
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