Anyone scalping the FTSE Futures??

↑↓TriXx↓↑;2424018 said:
Mate..no worries and am not having a go at anyone, thats not how my posts were meant to come across.

I never said once that it was wrong to wait for confirmation, not once did I say that and I know you haven't said that either!

I was simply trying to express that your risk/reward massively improves if you anticipate rather than wait for confirmation, but not only that, you stand a much better chance of the trade maturing and working out as your stop loss if you use one does not need to be located below pin-bars or engulfing bars or any other type of pattern candles or whatever!

Most of the time but not all of the time price re-visits the same level you have entered, so most traders that wait for confirmation have stops below the confirmation point..ie: a pin-bar which is where the S&R level might be, so they get stopped out prematurely and have a bigger stop that what is needed. Then they start second guessing or trying to make a call if they should re-enter or not and it all becomes a bit of a mess and circus.

But even so, if you wait for price confirmation, your often waiting for price to move a % of the "trade" that's missed profit...missed opportunity...missed lower risk and can lead to second guessing as described above.

If you anticipate a move, then by the time others are scratching their head and deciding to enter 30-60pts or more later on the back of a pin or something, you are well in profit and deciding to scale out, hold or exit.

If you expect price to move say 0.5% off a support point and your entering the trade after its moved 0.2% or 0.3% then is that not telling you something ? The price can come back to that support which is 0.3% away, but your expected upside is only 0.2% away. But the trader who anticipates the level is already sitting pretty with .3% of the full move in the bank.

On to the levels...

Yes, you certainly can't just plot any old levels on the chart and then off you go and trade them all. Doesn't work like that nor do I suggest anyone does that!

It takes a bit of time and work to MAP the chart, I only trade levels/zones that have a technical factor on multiple time frames, there is a technique for doing this which would take a bit of time to explain. But there IS method to the madness as some people see it.

I do not blindly trade any old S&R level, a lot of care and attention goes into my chart mapping which leads me to confidently enter trades at those levels/zones without confirmation.
Click to expand...

Thanks for the explanation TriXx. I didn't take it as you having a go at me. I have thicker skin than that anyway.

I'm keen to learn and am willing to listen. If what someone tells me makes sense then I'll definitely take that on board.

Thanks for clarifying what you mean by anticipation and confirmation and I can see the advantages of being able to enter trades confidently and without hesitation. Definitely requires a level of knowledge beyond what I have to be able to have that level of confidence in my charts.

I like the idea of checking across multiple timeframes for S&R levels. I sort of do it but not in a methodical way. I mostly use the M1, M5, M15, H1,H2 and the daily.

Much to learn but I know that my biggest problem is getting my trading psychology right. Still trading with fear at times. There are reasons for that but I won't go into those here.

Thanks again for the explanation.
 
Complete newbie trying to learn something

As a newbie I monitor this forum trying to get ideas that can get me on the right side of trades and I do take on board all of the posts and see if I can make sense of them. I belong to other forums, (not trading), and see these things kick off once in a while. I like others want to have a good thread where I can learn and participate.

Being bold, can I suggest ALL stop the nonsense, forget what has been said and continue with what I have seen over the past few months which is trade entry ideas and charts etc, which is what I want to see on here.

I understand everyone has their own ideas in every walks of life and I'm sure there will always be differences of opinions, so hopefully this thread can get back on track and we can leave behind all the comments and start afresh.

Not aimed at anyone specifically here, just a common theme.

I want to learn and engage with you guys........:)
 
inzimam said:
closed for 26 BIG points - x4 normal stake on the DOW. More to go but will do me

Cheers
Click to expand...

Here's why

219 to 230 were previous resistance areas on the DOW daily chart.
6.10pm had a engulfing candle off the bollinger
MACD was looking to turn and RSI dipped below 50


Exit -
Round number 25 points (got 26)
1min chart showed a stretch below Hull and closed on it.
 
inzimam said:
Here's why

219 to 230 were previous resistance areas on the DOW daily chart.
6.10pm had a engulfing candle off the bollinger
MACD was looking to turn and RSI dipped below 50


Exit -
Round number 25 points (got 26)
1min chart showed a stretch below Hull and closed on it.
Click to expand...

Was there a full moon as well and was the wind blowing perfectly to ?

Make sure you have all of the 100 conditions in place before you pull the trigger mate :)
 
Sonicscooter said:
Evening Dude, i took a break off here for a couple of hours, and arrived back to see we are in a position we have been in several times before.

New guy, knows some interesting things, part of which i can relate to, but forgets that peeps on here mainly trade for a living, or as a big part of their income and were happily doing so before 2 days ago, that everyone trades differently and to tell then bluntly they are wrong repeatedly is the same as asking to 5hag their other half.

A group of chaps i know well off here that should be able to handle it better and stop picking at someone who obviously knows his stuff.

Apart from that, a normal day.

Happy Days.................music time Bro.............:)
Click to expand...
just make up mate .Its us against the market remember
and its music for me now-massive playlist all mixed up-ill post some later(y)
 
↑↓TriXx↓↑;2424214 said:
Was there a full moon as well and was the wind blowing perfectly to ?

Make sure you have all of the 100 conditions in place before you pull the trigger mate :)
Click to expand...

Silly rabbit, trixx are for kids
 
So easy to accumulate ass lickers and then turn them..

My ass was red raw from being licked yesterday and this morning. Then when I was done, all I had to do was make a couple of posts and POOF, they move onto to licking someone else's ass.

Brilliant. :LOL:
 
postman said:
This is the 'NO limit' trading thread isnt it!

Just about to average down again
119, 175, 203.

Cant lose if you dont have a limit right ;)
Click to expand...

I thought you were better than that postie, rookie mistakes surely? You've been adamant about buying early for christmas:LOL:
 
postman said:
This is the 'NO limit' trading thread isnt it!

Just about to average down again
119, 175, 203.

Cant lose if you dont have a limit right ;)
Click to expand...

Anything below 165 and I'm up on the afternoons trades.

Could go down to 16900.
 
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