Anyone scalping the FTSE Futures??

This is a discussion on Anyone scalping the FTSE Futures?? within the Indices forums, part of the Markets category; Originally Posted by ctlpast oops, sorry did not intentionally mean to encourage any illegal activity by posting threads deemed inappropriate ...

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Old Oct 18, 2011, 11:34am   #2045
 
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Re: Anyone scalping the FTSE Futures??

Quote:
Originally Posted by ctlpast View Post
oops, sorry did not intentionally mean to
encourage any illegal activity by posting
threads deemed inappropriate which may contain material
that infringe copyright laws, wherever you may be located.

I assumed scribd was a legit site, maybe it is not, I must research more.
Thankfully I think the post has been removed.

Try again

The Taylor Trading Technique

by George Douglass Taylor

A book describing a 1950's trading style, recently
made popular, on this thread anyway, by a certain DC2000.

Maybe not available from all good book shops near you but should be
available from a bookseller with a name like a fierce female single breasted warrior.

Hope this information might help someone.

Sorry again for my post yesterday.
no problem..
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Old Oct 18, 2011, 11:47am   #2046
 
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Re: Anyone scalping the FTSE Futures??

now exit and short FTSE 5389 looking for 5089 and out of half DOW and short 11355 looking for 11022
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Old Oct 18, 2011, 11:57am   #2047
 
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Re: Anyone scalping the FTSE Futures??

a move and a half for the FTSE but no rush by thursday will do
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Old Oct 18, 2011, 11:59am   #2048
 
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Re: Anyone scalping the FTSE Futures??

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Originally Posted by dc2000 View Post
now exit and short FTSE 5389 looking for 5089 and out of half DOW and short 11355 looking for 11022
why the about turn DC? if we break 5370 in futures then your long target is a real possibility - we have also bounce off a nice channel this morning
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Old Oct 18, 2011, 12:19pm   #2049
 
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Re: Anyone scalping the FTSE Futures??

Quote:
Originally Posted by ctlpast View Post
Maybe not available from all good book shops near you but should be
available from a bookseller with a name like a fierce female single breasted warrior.
wow that shop sounds better than fleebay probably cheaper to

book should come with warning "May give you prolonged headache" "do not use whilst operating machinery" etc
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Old Oct 18, 2011, 12:25pm   #2050
 
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Re: Anyone scalping the FTSE Futures??

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Originally Posted by DaddyJohn View Post
why the about turn DC? if we break 5370 in futures then your long target is a real possibility - we have also bounce off a nice channel this morning
two targets in play 100 points upside 300 downside and Iooks like I may be off later today and tomorrow
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Old Oct 18, 2011, 12:35pm   #2051
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Re: Anyone scalping the FTSE Futures??

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now exit and short FTSE 5389 looking for 5089 and out of half DOW and short 11355 looking for 11022
many thanks for the heads up DC. Your call of short at 5389 equates to roughly 5364 in the FTSE futures. As a short term trader, entering short at 5364, which is at the top of the range of the last 2 hours, gives good risk reward. If you got the call wrong, you would be stopped out around 5374, but your target should be at the minimum the bottom of the range around 5340. That's over 2:1.

I know you don't use stops, and you are prepared to take some heat on your position. A short term trader can only take a limited amount of heat. How high could the price go before you would consider that your call short is not happening immediately?

I went short on the Bk of America news, basically sell the news no matter how good, and I closed at 5342 at the bottom of the range. Now I am tempted to hold on much longer and wait for a bigger sell off as you suggest, but the price action has not followed through yet with a break to the downside of the current range. That's when I would be looking to go short again or if we tested the top of the range one more time.

As a scalper it is critical you get your entry right. As a swing trader, entry seems to be less important, but there has to be a limit to the amount of heat a swing trader should take.
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