Anyone scalping the FTSE Futures??

jimioddy said:
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Thanks Martin -I use FXCM’s Strategy Trader (ST) which is an absolutely superb chart platform and an automatic trader (see AUTO button in top left of charts). I’ve made tremendous progress with their ST C# language implementation, but in my (ignorant) opinion (I have nothing to compare it with ), it ain’t pretty.

Sitting in my bubble of isolation I probably miss some obvious things like: I thought the FTSE UK100 and the FTSE futures were the same thing. Am I wrong?

Also, what is the ‘Open ECry sim’, please?

I included the 20-21 October chart simply because I think it bad form to only present your successes. I’ve added another chart for the 23 & 24 August for comparison.

Both could be described as ‘range bound' I guess: The charts have a number of similarities but give very different results – if I can’t tell the difference, the program can’t – It’s no smarter than me, unfortunately.
Click to expand...

Easy mistake. I've made it before. The FTSE UK100 quoted by the spreadbetting companies is their approximation of what the cash price for the FTSE100 should be. It is usually their own data feed but it is based on the underlying Futures market. The FTSE 100 Futures contract is the nearest quarterly futures contract, and that is what usually leads the markets. The Futures price is different from the cash price by several points, but the charts mirror each other.

Open ECry are the brokers that I use to trade futures. You can sign up for a free 14 day trial of their demo or sim platform. It has an automated strategy trader function and is programmable in C language. There are no data feed charges and you can more or less trade anything. Give it a try if you have the time.
 
ordinaryguy76 said:
Well, normally if you want to open a trade, it is opened within 1-2 seconds.

Since today, if I am opening a trade, the screen says something like:

- referred to dealer (5-10 seconds wait)
- waiting for dealer authorisation (2-5 seconds)
- success

This means that trades are not started automatically, but need manual approval.
I think referral should only happen on highly profitable accounts. This account is around 20% up with total well under £1000 at the moment. Hardly a big risk to spreadco.
Click to expand...

That's why I don't use spreadbetting firms for scalping. It makes it very hard to make any money.
 
ordinaryguy76 said:
Well, normally if you want to open a trade, it is opened within 1-2 seconds.

Since today, if I am opening a trade, the screen says something like:

- referred to dealer (5-10 seconds wait)
- waiting for dealer authorisation (2-5 seconds)
- success

This means that trades are not started automatically, but need manual approval.
I think referral should only happen on highly profitable accounts. This account is around 20% up with total well under £1000 at the moment. Hardly a big risk to spreadco.
Click to expand...

Have you called them to complain??? Nice compliment though eh!! Well done sir..
 
MartinC-J said:
Easy mistake. I've made it before. The FTSE UK100 quoted by the spreadbetting companies is their approximation of what the cash price for the FTSE100 should be. It is usually their own data feed but it is based on the underlying Futures market. The FTSE 100 Futures contract is the nearest quarterly futures contract, and that is what usually leads the markets. The Futures price is different from the cash price by several points, but the charts mirror each other.

Open ECry are the brokers that I use to trade futures. You can sign up for a free 14 day trial of their demo or sim platform. It has an automated strategy trader function and is programmable in C language. There are no data feed charges and you can more or less trade anything. Give it a try if you have the time.
Click to expand...

What's are the commission rates Martin?
 
I pay $1 per side plus £0.56 per contract on the FTSE Futures. That makes it roughly £1.81 per round trip per lot. I think mazdaq100 just opened up an account with them and did even better than me. I think he is paying £1.53 per round trip. Lucky beep beep.
 
DaddyJohn said:
Have you called them to complain??? Nice compliment though eh!! Well done sir..
Click to expand...

No, I'm not planning to stay with them for long.

Thanks, I was both up and down in the past. Now I'm up, but could be under water next day/week. Just trying out different strategies.

My biggest fall was because of averaging loss - stopped doing that.
My second biggest fall was because of not cutting losses early - I hope I stopped doing that as well.
Next sin is to enter trades randomly. Still doing this...
 
MartinC-J said:
I pay $1 per side plus £0.56 per contract on the FTSE Futures. That makes it roughly £1.81 per round trip per lot. I think mazdaq100 just opened up an account with them and did even better than me. I think he is paying £1.53 per round trip. Lucky beep beep.
Click to expand...

Oh !!! I dont wish to upset you but I only pay 50p a round trip... it should be £1 but I got onto the LIFFE new traders program which gives signifcant discounts for 12mths for new traders. I was always trading Bund and EuroStoxx.. but then moved to FTSE Z and got on this program.. I dont think they are doing it anymore though.
 
DaddyJohn said:
Oh !!! I dont wish to upset you but I only pay 50p a round trip... it should be £1 but I got onto the LIFFE new traders program which gives signifcant discounts for 12mths for new traders. I was always trading Bund and EuroStoxx.. but then moved to FTSE Z and got on this program.. I dont think they are doing it anymore though.
Click to expand...

I am indeed on £1.53 round trip although I think the offer ended in September.

Which broker is that with DJ? I could certainly do with cutting some costs as I am taking too many trades at the moment. However, I do like the OEC platform and its ease of use.
 
Looking back to last month. A good ISM number was not enough to turn things around. No reason to think today is any different. I plan to sell the spike if the results are good.
 
DaddyJohn said:
Oh !!! I dont wish to upset you but I only pay 50p a round trip... it should be £1 but I got onto the LIFFE new traders program which gives signifcant discounts for 12mths for new traders. I was always trading Bund and EuroStoxx.. but then moved to FTSE Z and got on this program.. I dont think they are doing it anymore though.
Click to expand...

John, I heard that program mentioned several times on Ransquawk, but I didn't think OEC would offer it. I would love to be paying 50p per round trip.
 
reksa said:
Looking back to last month. A good ISM number was not enough to turn things around. No reason to think today is any different. I plan to sell the spike if the results are good.
Click to expand...

Maybe a bad ISM number is what is needed to turn this around!

Goes to show how little effect data has in short term trading.
 
MartinC-J said:
Maybe a bad ISM number is what is needed to turn this around!

Goes to show how little effect data has in short term trading.
Click to expand...

I really meant buy the bad news:sneaky:

No idea where we going. However i do like the sound of DC's 5089. Would love to load up for Christmas :)
 
looking to exit my long in next hour ish may have to lower target to 440s area
 
DOW hit reshort level at 770/780

looking for FTSE to fall into close dont want to hold over though unless we get sub 5280s
 
MartinC-J said:
John, I heard that program mentioned several times on Ransquawk, but I didn't think OEC would offer it. I would love to be paying 50p per round trip.
Click to expand...

Chances are your broker already has you on the program and is pocketing the difference
 
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