I have closed at 5871.5, having opened at 5836.3. That's 35.2 points. However, there was a loss, before that from 5831.8 to 5118.3, -13.6 points.
I'd like to have stayed open longer but, although I could put a stop underneath, I have the problem of the roller being carried forward overnight and a possible opening gap down tomorrow. Who knows?
I've netted 22 points on the day. For those who do not like Fins- please note! I can only dedicate the mornings to this, so am satisfied..
Monday is a holiday for me- maybe it'll be a good day!
By the way, thanks to all who post here for their ideas and support.
Split
I'd like to have stayed open longer but, although I could put a stop underneath, I have the problem of the roller being carried forward overnight and a possible opening gap down tomorrow. Who knows?
I've netted 22 points on the day. For those who do not like Fins- please note! I can only dedicate the mornings to this, so am satisfied..
Monday is a holiday for me- maybe it'll be a good day!
By the way, thanks to all who post here for their ideas and support.
Split
mikewilliams
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ftse has plenty of oppertunity
i have been watching the ftse for some time now and agree about the trading oppertunities . I have one question . when entering a position whether short or long do you go straight on a break or slightly more e.g if ftse breaks support at 5900 do you enter short or wait for a few points say 5895datav said:Hi,
I'm new to this board and having had a good look round I thought I'd start a thread to see if anyone is out there. Been day trading for about a year, started on he YM, tried various markets, but ended up with the FTSE for the last 6 months or so. I'm intriuged to see so many negative posts about the FTSE futures. Its a great market to trade. It is not a leading market, but that helps. There is generally plently of volatility with at least 50 points to go at most days.
Why does everyone expend so much energy trying to predict the future? Thats a mugs game. Why is everyone looking for indicators? they are irrelevant, since they are all derived from historical data. The only thing that counts is the price action.
I have learnt at a high cost, that the key to successful trading is my personal psychology and discipline in trade management, entries, and exits. All markets are the same in this repect, only the FTSE is more forgiving, less erratic and trends are more reliable.
The YM pre market or otherwise does not influence the FTSE or anything else. The YM is at the bottom of the pecking order in my experience, with the Nasdaq and or Russell 200 being number 1.
If anything does pull the FTSE it is the DAX in the am, and then the Nasdaq in the pm session. THis is a significant advantage, as it often gives me forewarning of a move.
So I'd like to put in a good word for the FTSE !
My trading strategy? using candlesticks and support and resistance levels. Nothing more. Oh and support and resistance levels ARE reliable in the FTSE. at least asmuch as any other market. Mind you, you have to watch the price all the time. This is a full time profession, not a hobby. Some people seem to think that its possible to place a trade at the beginning of the day and come back at the end to see 10K in their account with no effort. If that were really possible, if any automated system was reliable you could, in a short space of time, collect all the money in the world, literally. I suppose that its the British love of gambling that makes people think that futures trading is like horse racing. All you need is a good tipster!
I guess you can tell its a quiet day on the FTSE today. Went short at 5985 at 9 am and currently looking at 5974 at 11 am.
Love to hear from any other full time traders out there.
datav
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Zinger said:
Thanks. I sometimes trade the YM and ES in the afternoons. hAve also taken trades on crude and gold futures and 30 year bonds.
So today we are 22points up after a 10 point loss first thing.
Classic inverted head and shoulders pattern shown on the FTSE index chart this morning.
Not expecting much action from the FTSE for the rest of the day since we are waiting on FOMC announcement. Charts tell me that we will retest the high of the year on the YM. maybe have a go there.
datav
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mikewilliams said:
I would wait for my chart to complete a time frame. I use 15 minutes. I want to see the candle close one side of the support line and then see that line hold support. Of course this sometimes means that the price gets too far away. In this case you have to wait for a retracement. Never chase.
"All dogs that chase cars get killed"
If the price does not come back to a level where the R/R ratio is acceptable, then just let it go.
datav
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Thursday
FTSE is way down compared to everything else, so I would expect a rise today. On the other hand, the US markets are due for some retracement before they resume thier upward march, which could put the breaks on the FTSE. Energy and metals continue to slide..
Lets see what happens when the lows are tested
FTSE is way down compared to everything else, so I would expect a rise today. On the other hand, the US markets are due for some retracement before they resume thier upward march, which could put the breaks on the FTSE. Energy and metals continue to slide..
Lets see what happens when the lows are tested
datav
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OK traders, this has been a nice little pop, so you should be 30 points or so in the black. It seems to be running out of steam now so Id get rid of half and put a stop on the remainder a few points below yesterdays high. Dont want to give it back no do we !
datav
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Great Trade Splilink !
I sold another quarter at 31 (R1) so just left with a quarter sitting at 5915. I think you are right, we're unlikely to see much more action before US markets open as futures are sitting at or near yesterdays highs. Watch out for data at 1:30 for jobless claims and then leading indicators at 3pm (UK time) these could move the market higher, so I'll be on the lookout for another Long opportunity this afternoon.
I sold another quarter at 31 (R1) so just left with a quarter sitting at 5915. I think you are right, we're unlikely to see much more action before US markets open as futures are sitting at or near yesterdays highs. Watch out for data at 1:30 for jobless claims and then leading indicators at 3pm (UK time) these could move the market higher, so I'll be on the lookout for another Long opportunity this afternoon.
mikewilliams
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day trade ftse
i have been observing the ftse and noticed that when using pivot points these appear to be significant turning points or consolidation levels. I am only looking to average 10 points on the ftse daily . i have been using a 5 min chart but not sure whether to move to a 15 mins to filter out any minor movements. some good advice is needed. thanksrav700 said:
