Anyone scalping the FTSE Futures??

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Old Aug 12, 2011, 11:40am   #91
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Re: Anyone scalping the FTSE Futures??

MartinC-J started this thread Good to see you are friendly with Tom. I think he is a great guy, and has done lots for small traders. I wish him well with his Which Way Today trading room. It sounds like he was very lucky to survive his swimming accident in the Canary Isles.

The market seems to have settled down a bit today, and is fairly normal for once. Since the reversal at 8:15am, this has been a one way up day with retracements no more than 23.6%. Looks like we should retest the high of last night at 5277.5. That would be a pretty big gap to have closed. Then we have US retail sales at 1:30pm which should get the markets panicking again. The U of Michegan number at 2:55pm should be worse than expectations, which should produce a quick spike down, after that I think it will try to go up again and then range into the close.
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Old Aug 12, 2011, 12:43pm   #92
 
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Re: Anyone scalping the FTSE Futures??

looking at the price on the FTSE we are getting there slowly I expect a push midday poss spike then lower into close not many will want to hold over weekend still looking for the 355 perfect hit.
The Dow sold into close which suggests players not looking for a gap play more an early rally for the first hour downward bias for most of the day with end of day small rally
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Old Aug 12, 2011, 2:48pm   #93
 
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Re: Anyone scalping the FTSE Futures??

out of FTSE now @306 its good enough to complete pattern and dont want to hold over weekend + 500 points I aint gonna argue for an extra 50
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Old Aug 12, 2011, 3:37pm   #94
 
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Re: Anyone scalping the FTSE Futures??

still holding DOW for 11335
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Old Aug 12, 2011, 4:50pm   #95
 
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Re: Anyone scalping the FTSE Futures??

11335 thank ya very much Elvis has left the building
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Thanks! The following members like this post: counter_violent
Old Aug 12, 2011, 5:43pm   #96
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Re: Anyone scalping the FTSE Futures??

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11335 thank ya very much Elvis has left the building
Nice work DC... back on form. If you ever feel the need to divulge these deadly accurate target secrets....
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Old Aug 12, 2011, 6:40pm   #97
 
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Re: Anyone scalping the FTSE Futures??

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Nice work DC... back on form. If you ever feel the need to divulge these deadly accurate target secrets....
cheers CV but I will keep the car parked for a while longer
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Old Aug 12, 2011, 9:11pm   #98
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Re: Anyone scalping the FTSE Futures??

MartinC-J started this thread Flux capacitor working perfectly. Well done dc. Great calls.

Retail numbers surprised by being reasonably good. But U of Michegan was poor as expected. Didn't take the market too long to shrug off the number and then it popped up into the UK cash close. Then it returned to a "normal" non traders market for the rest of the day. Looks like everyone headed for the Hamptons early in NY. It has been an interesting two weeks, and surely needs to catch its breath.
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Old Aug 14, 2011, 9:10am   #99
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Re: Anyone scalping the FTSE Futures??

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Expecting a large move to the upside here from both the FTSE and DOW this afternoon and I mean large

appologies if Ive hijacked a thread but there seems to be so many diverse threads these days
If you have committed any sins, I'll forgive you!

That was a great forecast for FT on the 11th. Just seen it, but to-day, unfortunately, is the 14th.
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Old Aug 15, 2011, 12:13pm   #100
 
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Re: Anyone scalping the FTSE Futures??

cheers Martin, Splitlink

good start to the FTSE week so far no price outside target zone, infact paint drying would be more exciting, but thats fine time to sit back and wait no entry today not even if we start to get whips this afternoon, At the moment I would be looking to enter a short tomorrow @5402 but this may change later today dependant on price action.
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Old Aug 15, 2011, 12:34pm   #101
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Re: Anyone scalping the FTSE Futures??

MartinC-J started this thread Paint drying. That's my next job. I've cleaned the oven. Inspected the grease build up in the pump station (Yuk!) and watered my trees.

A crap morning for price action and I scraped £485 on the sim with lots of indispline and some cheating, hence the healthy total. The first 2 hours it reluctantly formed an ascending triangle, then a downsloping channel back to the low of the day and now it's sat in the middle sulking 'cos no-one wants to play with it. We've established some levels though, at 5305, 5330 and 5350, which is useful. When the market sold off last 2 weeks, it shot through any levels it did have and gave the market no clear levels for any move back up.

I am expecting the markets to retest the lows again in the next few weeks. The question is will it bounce off 5400, 5500 or 5600. I would be surprised to see it make it back up to 5600, but that is the clearest level above that should provide a lot of resistance.
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Old Aug 15, 2011, 1:05pm   #102
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Re: Anyone scalping the FTSE Futures??

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Paint drying. That's my next job. I've cleaned the oven. Inspected the grease build up in the pump station (Yuk!) and watered my trees.

A crap morning for price action and I scraped £485 on the sim with lots of indispline and some cheating, hence the healthy total. The first 2 hours it reluctantly formed an ascending triangle, then a downsloping channel back to the low of the day and now it's sat in the middle sulking 'cos no-one wants to play with it. We've established some levels though, at 5305, 5330 and 5350, which is useful. When the market sold off last 2 weeks, it shot through any levels it did have and gave the market no clear levels for any move back up.

I am expecting the markets to retest the lows again in the next few weeks. The question is will it bounce off 5400, 5500 or 5600. I would be surprised to see it make it back up to 5600, but that is the clearest level above that should provide a lot of resistance.
Watering trees is beginning to get to be an expensive hobby. Do you have many?

I had a short on both the Euro/pound and the FTSE, today. I don't often do more than one at a time but figured that my account could stand it. In the end, I found that one was taking the profits of the other and closed the Footsie trade. It should have been the other way around. I made a profit but would have more with Footsie.

Anyone else have problems trading with two instruments? I guess I'm getting old, but I'm better off with one.
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Old Aug 15, 2011, 1:13pm   #103
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Re: Anyone scalping the FTSE Futures??

MartinC-J started this thread I've grown some Indian Bean Trees from seed (Catalpa Bignoniodes) and haven't figured out what to do with them yet. I only have room for one or two and I have five on the go. They grow as big as an oak tree, and I only have a smallish garden!

Trading two instruments is difficult to juggle. I have traded the FTSE and cable at the same time, but ideally you should just focus on or tother. There are times when you would think the FTSE and the £ are linked, but according to Tom Hougaard, they are not correlated. I find I am better off trading Sterling when the price action on the FTSE is mincy, but I read the FTSE much better than the £ at the moment.
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Old Aug 15, 2011, 2:07pm   #104
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Re: Anyone scalping the FTSE Futures??

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I've grown some Indian Bean Trees from seed (Catalpa Bignoniodes) and haven't figured out what to do with them yet. I only have room for one or two and I have five on the go. They grow as big as an oak tree, and I only have a smallish garden!

Trading two instruments is difficult to juggle. I have traded the FTSE and cable at the same time, but ideally you should just focus on or tother. There are times when you would think the FTSE and the £ are linked, but according to Tom Hougaard, they are not correlated. I find I am better off trading Sterling when the price action on the FTSE is mincy, but I read the FTSE much better than the £ at the moment.
Yes, I think that Footsie has more going for it, in trading terms, than the pound, too, but it took me a few hours this morning to learn it! Never mind, one is never too old to learn! I figure that, by having two instruments open, I made half of what I would have done if I had chosen the less profitable of the two in the first place!

I hope that you have your bean trees in large pots, so that you can sell them easily. It is very satisfactory watching plants grow from seed. I like hydrangeas and get a kick out of separating them by just cutting them, with some of the root, and watching them take off.
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Old Aug 15, 2011, 9:36pm   #105
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Re: Anyone scalping the FTSE Futures??

MartinC-J started this thread Amazingly the FTSE futures have closed at 5383 tonight. I think that is the high for now, and may be a distant memory if the German GDP data at 7am tomorrow comes in worse than the 0.5% expected. But to be honest, if it comes in at anything less than 1%, I think the markets will sell off anyway.
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