Anyone scalping the FTSE Futures??

[nitrader]

Don't end up being a statistic, and giving up.

Treat this a trading lesson. All be it a very expensive one from the sounds of it, and learn more.

There is no embarrassment in admitting what you have done, and none what so ever in going back to a demo account, and learning properly this time.

Everyone will be able to empathise with a blown account, but just make sure you learn something from the experience, even if it's only a life lesson, and you don't end up trading again.

Many thanks for the words of support -need them at the moment

 

[manuelfx]

the day that DAX reaches 9000 traptrader will be back - I hope - I pray - I want to see the account statement then -in the mean time I will sit on my hands and not trade

 

[counter_violent]

Thanks for your help

DAX

SELL 9205 stake 2 loss 537
SELL 9220 stake 3.5 loss 891
SELL 9268 stake 2 loss 413

Italy 40

SELL 18768 stake 1 loss 612

I have 3,515 in my account but equity only of 1,064 if I close out now
BUT I had to add some of my savings to the account to cover margin.

OK thanks, working on it...in the mean time put hard stops on all dax possies at 9525.

 

[Sonicscooter]

Sh1t, not what i wanted to read, tend to agree with CV, 9525 may not seem like much room on a daily but you have to draw the line and it does give you some room from today's run up, for me and other input is more than welcome, it's either top out time around here or it will push much further then 9525, and to me the time between now and the DOW close will be telling. I have been wrong before but i think the top out today part.............

We have all screwed up and still do, i know it's hard but if it goes against you, put closure on it and move on, down to experience, hell my first attempt at Forex years ago, week 1 = £1.5k lost.......erm i moved my stops......

 

[darktone]

OK thanks, working on it...in the mean time put hard stops on all dax possies at 9525.

Theres nothing to work out CV, hes too big. Liquidate and move on.

 

[Sonicscooter]

Theres nothing to work out CV, hes too big. Liquidate and move on.

Thought you had gone off playing golf for 6 months.........you ok mate.

You not looking at around 480-490 top?

 

[counter_violent]

Theres nothing to work out CV, hes too big. Liquidate and move on.

Yes far too big....but given that anything can and will possibly happen....the US could drop 500 points in the next hr ................so he might as well wait and see what happens up to US close.

 

[darktone]

Thought you had gone off playing golf for 6 months.........you ok mate.

You not looking at around 480-490 top?

Popped in to answer a pm and i saw nitraders post, hard to walk past that.
You know I dont do levels mate. Im not smart enough, just follow.

Yes far too big....but given that anything can and will possibly happen....the US could drop 500 points in the next hr ................so he might as well wait and see what happens up to US close.

I hear ya but atm dax is up. And its up smooth with little action to work the last couple days. Who knows tho eh.

 

[nitrader]

Popped in to answer a pm and i saw nitraders post, hard to walk past that.
You know I dont do levels mate. Im not smart enough, just follow.


I hear ya but atm dax is up. And its up smooth with little action to work the last couple days. Who knows tho eh.

Guys

Thanks for all the help

I have placed my stops on DAX at 9525.

US still looks strong -

 

[Sonicscooter]

Shouting at the ferking monitors doesn't even help when it's for someone else......Where the hell is Postie............................

 

[12WBT]

OK thanks, working on it...in the mean time put hard stops on all dax possies at 9525.

What about a hedge with a different index instrument DOW or JPY cross.

Or try and buy the December contract at different levels on any pullback.

Might then be able to get out at a better loss then, think that makes sense.

On cash level should find buyers around 9400/30 area plus got to get past that 9460 area first.

In asia we have BOJ Press Conference which will drive the markets.

 

[manuelfx]

only risk what you can afford to lose in this game, start off small, I went through a stage where I start with a £30 account and built it up to £500 and kept blowing it, psychologically it was damaging it felt as though I lost £500 rather than £30, but it was more than that -it took weeks of hard work to built it up to that level. Nowadays I start off small and then withdraw at £200.... rinse and repeat find what works for you

 

[kitbag1984]

Hi Nit trader. I am also in a similar if slightly less painful position.

I followed him into the Dax trade, removed my stops (NEVER EVER DO THIS AGAIN!!) and have closed one trade out at -£278 and have another in the red at -£477. I have a guaranteed stop at 9529.

This will be the largest amount I have lost on a trade and I dread to think what my wife will say.

I don't know what to do know and hate being in this position. Dax is a new index that I am trading on. I usually do the dow with stops usually at 16 points away.

I am so annoyed at myself but his results convinced me that he was someone who knew what he was talking about.

I should have listened to the more experienced on here.

I would normally manualy stop as this shows no sign of dropping but the difference now is so small I am hoping it will drop at some point. A postion of no control and I hate that.

 

[tar]

how do you get a chart like that?

Barchart software and many others ... that one is a customised chart for Dec futures contracts ... for example you can draw a chart for : Dax - 2 Cac

 

[nitrader]

Hi Nit trader. I am also in a similar if slightly less painful position.

I followed him into the Dax trade, removed my stops (NEVER EVER DO THIS AGAIN!!) and have closed one trade out at -£278 and have another in the red at -£477. I have a guaranteed stop at 9529.

This will be the largest amount I have lost on a trade and I dread to think what my wife will say.

I don't know what to do know and hate being in this position. Dax is a new index that I am trading on. I usually do the dow with stops usually at 16 points away.

I am so annoyed at myself but his results convinced me that he was someone who knew what he was talking about.

I should have listened to the more experienced on here.

I would normally manualy stop as this shows no sign of dropping but the difference now is so small I am hoping it will drop at some point. A postion of no control and I hate that.

I Feel your pain - I told my wife I would close out this morning when a 3k loss - now looking at higher - but I have stops set now so will see what happens.

What annoys me more is that the DAX showed me a profit of 1K yesterday morning and I was stupid enough not to close out. I think that is the real issue when you blindly follow and don't have an exit point.

 

[Sonicscooter]

Well you both have the balls to come on here and show your hands........:clover:

 

[tar]

Guys dont play the averaging down game with the Dax it will eat you alive .

 

[Dentalfloss]

I Feel your pain - I told my wife I would close out this morning when a 3k loss - now looking at higher - but I have stops set now so will see what happens.

What annoys me more is that the DAX showed me a profit of 1K yesterday morning and I was stupid enough not to close out. I think that is the real issue when you blindly follow and don't have an exit point.

were you following Trix ?
does he post on twitter

 

[Sonicscooter]

were you following Trix ?
does he post on twitter

It's closed and he legged it.............twix, was a tw@t...........

 

[darktone]

Hi -

You are pretty well spot on!

I did really well and made over 1K early in the week.
I had been using my own stops but got stopped out a few times and could have made
more so made the fatal mistake (even though I KNEW it was wrong) of removing my stops.

I had to add a couple of grand extra to my account to avoid the margin calls - but it would have been better if they had of shut me down!

The money hurts but more so it upsets me as it made me look more in depth at levels and market profile etc. and now I will probably not trade again (my wife certainly will not let me)!

Listen. Not using stops wasnt your mistake. Your mistake was to follow someone else. There are no experts in this game. Doesnt matter who you are or what youre doing, you can be wrong, big time.

No stops is a great way to trade, but youve got have the head sorted. You must have a plan to manage and cut when youre wrong. 100% cant be slinging 'retailers size' around on someone elses word and expect to keep your acc. If you cant swallow a -1000 dax tick, youre too big.

For me short dax was wrong at 9450, 3pm today, but that dont mean sh!t.
Gl with it, however you play it from here.
d