Anyone scalping the FTSE Futures??

[MartinC-J]

Got Al Brooks new book on my Christmas list, how sad is that. :clap:

Mark, you know you are going to be getting socks again for Christmas so don't get your hopes up!

ps I hope Al's book makes for easier reading than the last book. Also big colour charts would have helped too.

 

[reksa]

To be honest Reska, I am trying move away from scalping and take fewer trades in a week.. I am sadly at an age now when I cannot sit at the screen all day dipping in and out... it might be profitable , but it is very hard work on the eyes and incredibly tiring. In my opinion it is more a young mans game.. I am steadily changing my approach by using the levels I calculate to take longer positions and hold for the day /week.. wish me luck

I know what you mean. Swing trading is my bread and butter. But scalping is a good tool to have in your arsenal.

How are you getting on with your calculations since we last spoke. Do you find that sometime the figures can be off with the huge swings in the market?

Also i have been playing around with absolute figures to see how the levels turn out so negative numbers are not used in the calculations.

 

[reksa]

Mark, you know you are going to be getting socks again for Christmas so don't get your hopes up!

ps I hope Al's book makes for easier reading than the last book. Also big colour charts would have helped too.

Martin i am the worst person in the world for opening presents. If someone got me socks i would not be able to hide the look of disappointment.

 

[DaddyJohn]

I know what you mean. Swing trading is my bread and butter. But scalping is a good tool to have in your arsenal.

How are you getting on with your calculations since we last spoke. Do you find that sometime the figures can be off with the huge swings in the market?

Also i have been playing around with absolute figures to see how the levels turn out so negative numbers are not used in the calculations.

The numbers are calculated based on known facts such as value areas, high, lows etc. but the targets categorised into 2 sets... 1) targets based on historical average movement in a day 2) based on current volatility... it is then a matter of judgement as to the days momentum... if the price goes way past my levels , I then leave it alone but perhaps look to fade if price softens up.. but usually dangerous

 

[DaddyJohn]

I find it hard to believe they are going to do the same thing as last night and shoot this down further

 

[dc2000]

DC... I know that the day ain't done yet.. but so far this baby is trading more like a SS day... I have noticed from studying the PA of previous Buy Low days that traded in this fashion that it led to the Monday becoming the Buy Low day.

What thinks you?

Hi DJ
FTSE sell day pushing buy into next week and the DOW as I type doing same both the DOW and FTSE targets in play and thats where I will be buying monday which is just under 100 points from FTSE close so doable

 

[dc2000]

I find it hard to believe they are going to do the same thing as last night and shoot this down further

a close 765 area would be good on DOW

 

[DaddyJohn]

a close 765 area would be good on DOW

DC.. last week you mentioned that applying taylor to a 4 week cycle is possible.. and having looked through the dailies I can see your point.

Last week you said we were in a sell month upto the 9th Dec.. Therefore the previous month was a Buy Month .. so I am assuming then that the monthly pattern is one of a Downtrend with the high made first at the end of October.. therefore if I am correct then the sell month should put in a lower low than the Buy month, the following SS month should push further down... am I on the right track here? :|

 

[dc2000]

DC.. last week you mentioned that applying taylor to a 4 week cycle is possible.. and having looked through the dailies I can see your point.

Last week you said we were in a sell month upto the 9th Dec.. Therefore the previous month was a Buy Month .. so I am assuming then that the monthly pattern is one of a Downtrend with the high made first at the end of October.. therefore if I am correct then the sell month should put in a lower low than the Buy month, the following SS month should push further down... am I on the right track here? :|

Hi DJ
Yup thats just about right to put some figures into it we should see a low monday 272 area then ideally a bounce off the 089 later in the week and a new low friday or following monday before bouncing to close the 9th around the 5450 mark then hit target 5530 before selling off round about 13/14th

Wot no santa

 

[dc2000]

So far I got to say Im liking globex this evening

 

[ctlpast]

So far I got to say Im liking globex this evening

So today (Monday) initially is looking like a Buy day?
i.e. a move lower then a good push up.

 

[DaddyJohn]

levels for today

5519
5491
5459
5448
5414
5333
5268
5226

24 HR SESSION
VAH = 5380
VAL = 5344

DAY SESSION
VAH = 5373
VAL = 5339

I have added value are for day session as well , there isnt a great deal of difference but I have never used just day session numbers only before, they should be useful ,, lets see...

 

[DaddyJohn]

FTSE now trading in vlaue area not seen since 10/10

 

[dc2000]

this is nice

exited shorts 5251 and 11641 and now have small positions long from same

 

[dc2000]

Im sure theres more to go the DOW still has 11565 in play so maybe another sell day DOW

 

[ctlpast]

this is nice

exited shorts 5251 and 11641 and now have small positions long from same

Yes that was nice. A good hours work . Thank you.

 

[dc2000]

Yes that was nice. A good hours work . Thank you.

your welcome

 

[dc2000]

looking for the double hit

if no double then will take profit 5295 and 11685

double on FTSE would come at 5254

 

[DaddyJohn]

5226 should provide very good support... I wouldnt want to see it breach this today

 

[dc2000]

so double hit and target 5343 now set should be a pause at 5295 though

will be a buyer down to 5201 and 11565 on the dow