Anyone scalping the FTSE Futures??

[Dick Lexic]

Dick
I use higher low/lower high
with stops of course

I have one or two other gidgets but thats the main system

i suppose with this system you could catch some pretty big moves MC

do you trade intra day?

 

[Mornington Crescent]

i suppose with this system you could catch some pretty big moves MC

that's the whole idea

but the length of the trade depends on the market
except at weekends when I never hold over

 

[Dick Lexic]

i have also been looking at market cycles

the next one is at 592 ( but i got no idea really) ha lets see if i'm right

well i'm only out by a zillion so far

 

[MartinC-J]

Market looking very undecided right now. It can't find the momentum to break the 5574.5 low. The ES is fairing a little better and is off it low's. The ADP non-farms number was very good and we are some 45 to 50 pts below the spike high of that data. I get the impression that the FTSE would like to go lower whereas the ES is trying to hold it up.

 

[ldk22233]

I think we are at a critical point the market is going to go down by the end of the month which is so obvious I think its trying to shrug of as many shorts as possible hence i will not be surprised to see another rally to 5720+ before it makes it descend to the bottom of the range. The us jobs data tomorrow and euro meeting on monday should be reasons for a rise!

 

[DaddyJohn]

Sorry to butt in here before John can answer. But I agree with you there Martin, nice amount of detail on how to execute the calculations and not much on how to execute trades from the envelopes in sniper trading.
I have changed the calculations quite a bit to get ones that work ok with the FTSE, I only really use the breakout numbers from the book and rest are modified.

Martin / Reska,

Guys , there is a great deal to discuss here, which is impossible on a thread such as this. I personally have found that although I have got good advice from DC on this technique.. it comes in bit and bites and as they say a little bit of knowledge is dangerous (and if you watch "the thick of it" then you will also know that "a lot of knowledge" must therefore be catastrophic !!!:lol)

If you guys are up for it (and anyone else with a real positive interest) I am prepared to create a project room on google where we can post information and ideas and have a specific discussion on this and decide if this is really a worthwhile way to trade or not.. I like it.. but I know it is not for everyone

 

[Dick Lexic]

The sq of 9 relates to Ganns belief that markets (and many other things in life) follow natural laws of numbers.. Fibs are based on the same principle, but the sequence tends to be different e.g Gann says 66.666% is critical whereas Fibs say it is 61.8%..... so I am studying both to see which I prefer. What I like about GANN is the concept of natural angles drawn from major lows and highs .. and then combining this with the natural numbers and seeing if there is a cluster of agreement around the same price that tallies with where price has formed S&R levels in the past.. this gives me a strong confidence in the trade.

I am only using GANN for looking at major turning points , not intraday.. So it is more of a strategy tool for me that helps me think through where price could go next. I will send you a chart showing some GANN analysis on the FTSE I have doen recently.

I think gann is right about the market following natural laws, sometimes I am astounded by the moves it makes, of course when it’s gann’s day of it’s back to man and chaos.

Ever look at Lucas numbers DJ? I was browsing and found this I thought it might be of interest to you i've never heard of this guy

https://www.lucaswaveinternational.com/

 

[Dick Lexic]

I think we are at a critical point the market is going to go down by the end of the month which is so obvious I think its trying to shrug of as many shorts as possible hence i will not be surprised to see another rally to 5720+ before it makes it descend to the bottom of the range. The us jobs data tomorrow and euro meeting on monday should be reasons for a rise!

any hint as to why it's so obvious ldk?

 

[Mornington Crescent]

as an observer only, it seems to me that your problem is akin to going to a golf pro to get him to improve your golf swing

he will demonstrate how to go up and down in 2 from 200 yards by doing it

He will then suggest ways to improve your swing

From then on, your swing feels awkward and your game goes downhill until eventually you give up trying and settle for the swing you started with.

The point is that his swing works for him. But you are not him.

Trading imo, is very much an activity with which YOU must feel personally COMFORTABLE
and not one where someone is forever nudging your elbow because its the way they would do it

So if the Taylor 'method' doesnt readily give you an understanding of how to trade it, then I suspect it will ruin your game

I have nothing against "Taylor"; I would make the same observations about any "book" system

I wish you well if you persevere with it
I could be wrong

 

[reksa]

as an observer only, it seems to me that your problem is akin to going to a golf pro to get him to improve your golf swing

he will demonstrate how to go up and down in 2 from 200 yards by doing it

He will then suggest ways to improve your swing

From then on, your swing feels awkward and your game goes downhill until eventually you give up trying and settle for the swing you started with.

The point is that his swing works for him. But you are not him.

Trading imo, is very much an activity with which YOU must feel personally COMFORTABLE
and not one where someone is forever nudging your elbow because its the way they would do it

So if the Taylor 'method' doesnt readily give you an understanding of how to trade it, then I suspect it will ruin your game

I have nothing against "Taylor"; I would make the same observations about any "book" system

I wish you well if you persevere with it
I could be wrong

I have to agree with you there MC, you need to confident with your trading style.
But you do also need to try to understand new techniques to make progress, but there is a thin line from trying too much and as a result, doing more damage than good.
Back to Golf, you should always see a Pro to look at your swing. I have a lesson every couple of months. No one wants to be on the tee rolling a donkey swing.

 

[reksa]

Martin / Reska,

Guys , there is a great deal to discuss here, which is impossible on a thread such as this. I personally have found that although I have got good advice from DC on this technique.. it comes in bit and bites and as they say a little bit of knowledge is dangerous (and if you watch "the thick of it" then you will also know that "a lot of knowledge" must therefore be catastrophic !!!:lol)

If you guys are up for it (and anyone else with a real positive interest) I am prepared to create a project room on google where we can post information and ideas and have a specific discussion on this and decide if this is really a worthwhile way to trade or not.. I like it.. but I know it is not for everyone

Sounds good DJ. Count me in.

 

[DaddyJohn]

Not sure if your comments were aimed at me MC... But I have to choose a method that works for me as I move away from scalping..so far the Taylor approach combined with other obvious stuff on fibs and price action has worked well for me so far.... So I will persevere..

I Agee you have to have your own game.. It is not common though for traders to be so open about how they trade as DC does.. And he posts his entries and exits... Which not many do... The frustration for me is my own limited intellect :cheesy: and being able to understand all the aspects.. I have learnt though that it is better to start with the basics and be excellent at those..be patient and wait for the limited setups you have... The "cream" can come later with time...

So for now I am sticking with it

 

[Mornington Crescent]

But you do also need to try to understand new techniques to make progress

Perhaps it is best though to do your understanding bit on the practise ground

The market is a field that doesnt take prisoners

 

[Mornington Crescent]

Not sure if your comments were aimed at me MC...

not at all DJ
it was just idle rambling in an idle moment to the world at large about the problems involved in learning someone elses sytem

for example , this morning we had 600 lurkers on this board

PS: at the moment we have over 700

 

[Dick Lexic]

not at all DJ
it was just idle rambling in an idle moment to the world at large about the problems involved in learning someone elses sytem

for example , this morning we had 600 lurkers on this board

PS: at the moment we have over 700

700! how do you know that MC?

 

[Dick Lexic]

if June Low is lurking...

I Love You Darling xxx

 

[Mornington Crescent]

700! how do you know that MC?

Its one of the stats that t2w reports

click on forums at the top and then go to almost bottom of the page

 

[DaddyJohn]

if June Low is lurking...

I Love You Darling xxx

If Pippa is lurking...please can we get it back on babe!!!....I forgive you honey bun!!

 

[Dick Lexic]

If Pippa is lurking...please can we get it back on babe!!!....I forgive you honey bun!!

dream on...

 

[DaddyJohn]

dream on...

I don't know if you know but wall street was kicked off the site .... Now check out the latest forum called "ftse 100 . Live trades as part of an exercise".

She is back and nowmhas the name "Littleangel1982".

Tell me I am wrong