Anyone scalping the FTSE Futures??

Scalping indices

MartinC-J said:
I have been paper trading the FTSE Futures for over a year now, with occasional trades live. I would like to find other FTSE Futures Traders and compare notes.

Hi Martin
I trade Dax - I know not FTSE futures, I know - but there are real similarities between our respective trading although you describe your trading style much more eloquently than I do mine. I describe my trading pattern as watching for any change in direction of short term price - 3-5 mins - whilst taking note of the developing trend across 3min to 1 day timescales. Now, no-one can knock you for the profits you make - but you work soooo hard for your money. You are asking for feedback on different ways of reducing trades volume. I would repeat here advice from professional traders - cut your losses and run your profits. You say your average gain is £35. I dont think you are running profits. My guess is that you are so glad to see blue you rush to take the money and well done you.
I agree with Mornington - you must be drained at the end of each day. My advice, If I dare offer any to someone who has so much going for them, would be to gradually move away from one minute charts towards three and keep a second screen with 10/15 minutes chart. Secondly, backtest all your trades and see what proportion of them went on to much bigger gains - money you could have had - and my guess is that 25% would have earned you over £100 each. Only needs a mathematical calc to develop this strategy. For example, moving your sl in price direction instead of closing all these winning trades could lock in maybe 65% of your current earnings and the rest will increase your earnings eventually with fewer trades. Any help?
Click to expand...
 
S&P now 1842 - Anyone who doesnt think it will hit 1848 and close that F*cking gap, please stop trading and get a proper job. :LOL:
 
Hi Martin
I trade Dax - I know not FTSE futures, I know - but there are real similarities between our respective trading although you describe your trading style much more eloquently than I do mine. I describe my trading pattern as watching for any change in direction of short term price - 3-5 mins - whilst taking note of the developing trend across 3min to 1 day timescales. Now, no-one can knock you for the profits you make - but you work soooo hard for your money. You are asking for feedback on different ways of reducing trades volume. I would repeat here advice from professional traders - cut your losses and run your profits. You say your average gain is £35. I dont think you are running profits. My guess is that you are so glad to see blue you rush to take the money and well done you.
I agree with Mornington - you must be drained at the end of each day. My advice, If I dare offer any to someone who has so much going for them, would be to gradually move away from one minute charts towards three and keep a second screen with 10/15 minutes chart. Secondly, backtest all your trades and see what proportion of them went on to much bigger gains - money you could have had - and my guess is that 25% would have earned you over £100 each. Only needs a mathematical calc to develop this strategy. For example, moving your sl in price direction instead of closing all these winning trades could lock in maybe 65% of your current earnings and the rest will increase your earnings eventually with fewer trades. Any help?
 
Yesterday I started tapering as well (on my long hedge positions) ... closed some of the FTSE JAN futures... :LOL:
 
As you know my main trade is retracements but I've been doing some work on tops and bottoms. This mornings dax was the perfect set up, bollinger band indicator at -02, yesterdays in hours low, S1 and candle close outside the B band and yes I did catch it ;)
 

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hereward the wake said:
As you know my main trade is retracements but I've been doing some work on tops and bottoms. This mornings dax was the perfect set up, bollinger band indicator at -02, yesterdays in hours low, S1 and candle close outside the B band and yes I did catch it ;)
Click to expand...

also would have worked trading a breakout above opening range
 
hereward the wake said:
As you know my main trade is retracements but I've been doing some work on tops and bottoms. This mornings dax was the perfect set up, bollinger band indicator at -02, yesterdays in hours low, S1 and candle close outside the B band and yes I did catch it ;)
Click to expand...

So your saying the tops in ??

Nice trade. (y)
 
Last edited by a moderator:
hereward the wake said:
As you know my main trade is retracements but I've been doing some work on tops and bottoms. This mornings dax was the perfect set up, bollinger band indicator at -02, yesterdays in hours low, S1 and candle close outside the B band and yes I did catch it ;)
Click to expand...

good stuff.

europe bounced before us, must be to do with ecb boe
 
paszkman said:
also would have worked trading a breakout above opening range
Click to expand...

True but I am looking for high profit potential and low risk trades. My stop here was 8 points, low risk and the combination of the factors mentioned indicated a good burst up was on the cards. I sold at R1 9524 when it stuttered so I missed the last 20 points, still a nice trade.
 
I'm waiting for the Dax / Dow to push higher so I can get a better selling price. ;)
 
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