Day Trade the FTSE

[PurplePerson]

Triple Witching day tomorrow, Friday 15 Sept.
Not as dramatic in its effects as it used to be, but Sept is still usually the trickiest of the four quarters.
Anyone take any particular approach to avoiding or exploiting the brief intraday spikes that sometimes occur?

 

[datav]

sit on my hands

 

[rav700]

Best for binary trading...........

 

[datav]

Well, I dont know that Binary betting is my style. Today has been easy street, made 25 points to the upside, then 54 to the down and no heat on the way!

Makes up for the days when its a struggle to break even

Should take tomorrow off due to triple witching. After a great week it would be a shame to give it back!

 

[ukhero]

Best for binary trading...........

I agree RAV700, I do hope that the market leaps/spikes. Will be watching the Binarys closely for bargains.

UK

 

[rav700]

Last half an hour seems to be up on the triple witching days...........................
For Binary Traders info......

Best of luck guys

 

[datav]

Monday 18th

Good Morning traders!
Well the FTSE continues to be very weak. LAst 3 days down while the US market and DAX have been heading up 6 consecutive days, while Oil continues to fall. Friday saw a consolidation and possible bottoming pattern on Oil futures, so watching carefully to see what happens there. Any turn around to the upside will knock equities off their current high perch.

From a day traders point of view, when there is no clear trend, we just have to wait for opportunities, long or short, to grab a few points. Playing it tight and light today, as my expectation is for another day like Friday, but,as always, trade what you see, not what you believe!

Great week last week with 2 or 3 nice reliable trends a day at least 3 days out of 5. Lets hope we get another week like that!

Safe trading

 

[Splitlink]

Good Morning traders!
Well the FTSE continues to be very weak. LAst 3 days down while the US market and DAX have been heading up 6 consecutive days, while Oil continues to fall. Friday saw a consolidation and possible bottoming pattern on Oil futures, so watching carefully to see what happens there. Any turn around to the upside will knock equities off their current high perch.

From a day traders point of view, when there is no clear trend, we just have to wait for opportunities, long or short, to grab a few points. Playing it tight and light today, as my expectation is for another day like Friday, but,as always, trade what you see, not what you believe!

Great week last week with 2 or 3 nice reliable trends a day at least 3 days out of 5. Lets hope we get another week like that!

Safe trading

I see today as a test of the lows of the last three days and we are very close so something may happen earlyish.

Split

 

[Splitlink]

I went long at 5874.7. Have moved my stop to just above break even, so now, it's a question of wait and see, like always,.

Split

 

[datav]

me also long 5915 dec contract

 

[datav]

5940 target hit (Friday peak high) half unloaded, stop on remainder just below R1 at 5930

 

[Splitlink]

Sold at 5899.4. There was a top on the 15th at about 5900 and I've had a good Monday morning run. I might try something later but I work in the afternoons.

I haven't learned the tactics of selling half and letting half run. You'll have to teach me that one day It's a psychological thing. If I have doubts I, greedily, take the lot and run!

Split

 

[datav]

nice trade Split.
Psychology/self management is the key. The scaling of the position allows you to benefit if the trade continues in your direction, and protects your profits if it reverses.

Looks as though a top is in place for the time being , so Im selling another quarter at 942.

Where in Spain are you based?

 

[Splitlink]

nice trade Split.
Psychology/self management is the key. The scaling of the position allows you to benefit if the trade continues in your direction, and protects your profits if it reverses.

Looks as though a top is in place for the time being , so Im selling another quarter at 942.

Where in Spain are you based?

I live in Barcelona. One wife, three kids, two grandkids and a couple of questions

I'm not going to trade anymore, today, so have spent some time comparing both of ours.
The ranges of both the rolling and the spreadbet Dec future FTSE are almost equal. What advantage do you gain by trading the future when it has a spread of 9 points and the rolling, one of 2 points? This morning, I was able to put my stop at breakeven much earlier than you and you decided to take half your profits and later half of the remainder. Does not opening and closing within a few hours not suit a rolling bet more, or were you originally planning to hold overnight?

Regards Split

 

[datav]

I am also in Barcelona. Please pm me for a chat on skype so as not to bore everyone on this public board

As far as the spread goes, I use a direct access broker and the bid /ask is usually half a point, not sure where you get 9 points from. If you are using a spread betting firm, it stands to reason that you have less chance of making money, because they will have to make a slice and then pay market commissions.

I never hold positions overnight, and rarely more than an hour. Day trading for me is like surfing. You watch for a wave, jump on it and then jump off as soon as it runs out of energy. Today was another perfect example. I got flat at 5945 1:30 CET, then short at 5938 till now. Now flat waiting for US open.

Lets see what this afternoon brings!

 

[datav]

Tricky afternoon. Have to be quick on your feet to avoid loosing in these conditions. Overall afternoon finished about flat. Morning +45. At time of writing, S&P testing High of year. Critical moment, but crude is heading up (depending on the days close could be good for a long position)

 

[Splitlink]

I am also in Barcelona. Please pm me for a chat on skype so as not to bore everyone on this public board

As far as the spread goes, I use a direct access broker and the bid /ask is usually half a point, not sure where you get 9 points from. If you are using a spread betting firm, it stands to reason that you have less chance of making money, because they will have to make a slice and then pay market commissions.

I never hold positions overnight, and rarely more than an hour. Day trading for me is like surfing. You watch for a wave, jump on it and then jump off as soon as it runs out of energy. Today was another perfect example. I got flat at 5945 1:30 CET, then short at 5938 till now. Now flat waiting for US open.

Lets see what this afternoon brings!

That explains it. Yes, there is a big difference with the future. I can see why people trade futures with a broker. It suits me to use the rolling bet with a spreadbetter, however, and provided I don't get screwed by them, I'm not about to change.

 

[TopIQ]

Great day for daytrading the FTSE100. Went LONG around 5882 and closed around 5906 for a +24 points that's £240 using minimum stop loss of 10 points for a 2:1.
You know the stock market is a multi billion dollar pile of money and trading it should be easy. Just walk over and scoop some up and put it into your pocket. If you waited till the afternoon that money would have disappeared. Concentrate on making profitable trades NOT trying to beat the market!

 

[datav]

Great trading Topiq. Looks like you0re another spread better. I must be missing something!

 

[datav]

Tuesday 19th

I too fancy a drop today. US markets seem to have topped out for the moment, and futures already heading south. Metals are turning up, crude is turning up. However, I've hadmy fingers burnt trying to predict the market in the past, so lets not get too committed to anything. Nonetheless, shall be selling the rally and going very light with any long opportunities. We closed at daily resistance yesterday at 5937. Significant support at 5900.