Anyone scalping the FTSE Futures??

This is a discussion on Anyone scalping the FTSE Futures?? within the Indices forums, part of the Markets category; MC - I really don't watch the FTSE cash, and maybe I should do. We did get the reversal, but ...

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Old Apr 1, 2011, 11:31am   #33
Joined Jul 2004
Re: Anyone scalping the FTSE Futures??

MartinC-J started this thread MC - I really don't watch the FTSE cash, and maybe I should do. We did get the reversal, but I don't think that's an island reversal. Maybe you can correct me there.

Interesting to see the market opened up this morning and has ignored the irish news from yesterday. Unless there is a delayed reaction. It is all about the non-farms today, and they should be reasonably good. The ES has retraced almost back to the high of the year, so I would have thought it should go on to retest that high. The Eurostoxx 50 is stalling below the 61.8% level, so maybe europe is obsessing over the soverign debt issue more than the US is. Maybe it will retest lows and drag the FTSE down with it. If it wasn't for the US, the world would be a very bearish place. US results season is just over a week away, so I am expecting good results then and sell off shortly afterwards, around the last week of April.
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Old Apr 1, 2011, 1:37pm   #34
 
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Re: Anyone scalping the FTSE Futures??

it reversed enough to fill its gap

I keep an eye on Cash because although futs usually leads it can only maintain its rally if Cash follows

so a lower high on the cash was telling
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Old Apr 7, 2011, 10:28am   #35
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Re: Anyone scalping the FTSE Futures??

MartinC-J started this thread There are times when you are better off using your mental capital to do other things. This morning is a good case in point. Everyone is waiting for the ECB announcement at 12:45pm, when they are expected to raise rates. There are also several things going on on the bond auction front. We have spanish and irish bond auctions this morning. Usually bond auctions have no influence on equities, but right now they are important. Yesterday's expensive bond yields for Portugal's auction triggered the concession later in the day that they would need a bale out.

The volumes this morning have been paltry, and since about 8:20am the market has swung wildly and the price action has been inconsistent. It is very tempting to try and trade the swings on the 1 minute chart using small targets and reversing at extremes, but with such low volumes it is hard to predict what it will do. The 5 minute chart is showing lots of wicks and tails on the candles and that is a clear sign to stay out.

The volume will pick up later in the day, and the price action should be more predictable. There is no need to force any trades when volume is low. I use a 10 period moving average on volume on the 1 minute chart to tell me if I should be trading or not. If the average drops below 100 lots per minute at any time between 8am and 11am, then I am better off sitting it out and waiting for better opportunities.
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Last edited by MartinC-J; Apr 7, 2011 at 3:55pm.
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Old Apr 19, 2011, 3:47pm   #36
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Re: Anyone scalping the FTSE Futures??

MartinC-J started this thread I haven't posted for a few days, but I had to post this morning's chart. This is what I call flip flop price action and it is not easy to trade under normal rules. If you were spreadbetting you would have got killed. There were few established trends and any pullbacks to moving averages were mostly not entry opportunities. The best I can come up with is to use the Boly Bands and sell touches of the high band, and buy the touch of the lower band. Also treat each subsequent candle after the touch as a trend lasting 5 minutes. Set lower price targets of 5 points or possibly less if it starts to stall.

The market is mostly reacting to all the news of soveraign debt problems with Greece and the US. The price action was just breaking up at 9:09am, and literally as a large blocker order was being taken out on the offer, the news came out that the EU believed Greek debt restructuring was unavoidable. This changed the plans for the large traders, and they spent the rest of the morning scrapping around for trades like the rest of us. The resulting price action was just not consistent, and you are better off preserving your capital and sitting it out for something more predictable.

I just mentioned something called a blocker. It is basically a large sell or buy order (usually 300 to 400 lots) , usually set half a point above or below a previous swing high or low. They act like magnets for the price, and almost always get filled. When there is a blocker on the order book, it is worth being aware that most likely the price will end up at that level. Immediately after they are taken out, the price swings back the other way, but not every time. I believe whoever is placing these orders is usually closing a position, but until someone tells me otherwise, I will just watch what happens after they are filled.
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Old Apr 20, 2011, 6:09pm   #37
 
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Re: Anyone scalping the FTSE Futures??

That looks perfect to me for scalping, and i did ok with CFD's on it this morning....

But then again im only looking for 3 pips a trade and did 10 before 9am
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Old Apr 21, 2011, 11:47am   #38
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Re: Anyone scalping the FTSE Futures??

MartinC-J started this thread Well done Doomberg. Nicely done. At what point did you decide it was a ranging market? And what did you use for a trigger to decide entry? I assume you are getting a one point spread from your CFD provider.

Attached is the one minute chart of the first hour, with the strategy I would use for scalping this market. You would sell within 0.5 point the touch of the upper boly band (12 period setting on the one minute chart) and use 3 or 4 point targets and 3 point stops. If it moved down to the middle boly band, you would then move your stop to breakeven. Similarly, you would buy at 0.5 points above the touch of the lower boly band, and move your stop to breakeven once it moved to the middle boly.

If you used an oscillator like a smoothed stochastic or RSI, your entry may have been too late to get your 3 point profit. But maybe you use a different indicator to time your entry.

As for deciding it was ranging for sure was probably around 8:15am when it had tested both up and down, and also the day before was a big down day and it needed to pause for breath.
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flip-flop-price-action-sell-buy-bolys-1mc-19-april-2011.jpg   flip-flop-price-action-sell-buy-stochs-1mc-19-april-2011.jpg  
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Old Apr 28, 2011, 4:41pm   #39
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Re: Anyone scalping the FTSE Futures??

MartinC-J started this thread Would anyone care to explain why the last minute of regular trading produced a volume of 5158 lots traded? Whereas the volume between 9 am and 10 am was 5917, 10am and 11am was 4188, and 11am and 12pm was 4515. I know the last minute is always volatile, but that seems more panic than normal. Usually the FTSE tips its hat as to what direction it will go in the last minute. There is usually a disconnect from the ES. At about 4:05pm the ES was making new highs, whereas the FTSE was not. Showed me there was no appetite for buying and in the closing minutes, 4:25pm to 4:29pm, the FTSE operated on steroids and went in the direction of that that divergence. I went short at 4:23pm at 6044.0, but closed a little too early for 5 points at 4:27pm. Shoulda held on a little longer.

It has been a mincy day with few trends, and more opportunities for range trades than with trend trades. Even the data at 1:30pm was mixed. Roll on the dog days of August!
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Old Aug 3, 2011, 5:39pm   #40
Joined Sep 2006
Re: Anyone scalping the FTSE Futures??

Quote:
Originally Posted by teamwk View Post
Martin C-J
hi
I would like to give this method a try but am not familiar with betfair or how
you do this.
Used to spreadbetting but my brain does not understand the article properly
on how to use beftair.
Please email me at michaelcartz@hotmail.com if successful would either recompense
you or a charity of yuor choice.
regards Michael

I am doing like you but a whole lot diffrently. I started very humbly with zero confidence in what I was doing about 3 months ago and now I have even quit my accounting job and doing this full time.

To be honest, I think I am doing well. Though my method is a hell lot different from yours. The good thing about my method is that its ZERO LOSS.

To cut a long story short- I do my FTSE100 trades in BETFAIR (these are 20mins FINANCIALS). You will find that its much easier if you download and use the BETTING ASSISTANT(Gruss). This might sound like gambling but am not gambling but making profits EVERY 20 minutes on Betfair Financials. My personal finances are now excellent as a result.

All you do is register with Betfair and download the BA(its only £6/month), and start trading.

Then-log-on to the BA and go to Financials - FTSE-20 minutes.

1) You then bring up the (20mins) just before it goes IN-PLAY, noting the level of the FTSE100 at the bigining of that 20mins. (whether its 5780,5560 or what ever it was just before the start of the 20minutes. These run from 9am to 4pm UK time.

2) Wait for any(whether down or up) to reach its MINIMUM-say @1.20(LAY). Then you take that twice (LAY) at say - one as 1.20@£2 and and the other as 1.20@ £100. NOW NOTE that you only do this when the odds START moving UPWARDS.(CRUCIAL)

3) To safeguard yourself -Place a BACK as 1.20@£102 and leave it UNMATCHED as the odds drift upwards. (this is for just in case the market turns against you.If it does-this CONTRAs your original entries.
Suppose the odds reach 100, you then ClOSE the deal by BACKING as 100@£2. This GREENSUP on both sides at £100 each and at end of the 20 minutes, your account inreases by £100. Then quickly cancel the BACK(security) of 1.20@£102 before it gets matched.

You do this 21 times per day and end of day you bank £2 100 or even more depending on your stakes. The main thing here is you LOSE NO PENNY at all and you make profits every 20 minutes. Sometimes out of the 21 events you might make 12 or more. To me this is good money without having to analyse this and that or lose.

I recently bought a brand new car using this method.
Am sure you can find my email on this forum-hook me up-maybe we can share more about this.

Well I had tried what you are doing before but it gave me so much pressure. I hope this might help.

Cheers
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