monday ftse

[LJE]

Hi

Am looking into the pattern that FTSE seems to bounce up most Mondays (I guess weekly traders jumping in poss) even if just a few points when it first opens. I have some data but I am looking for some back testing can anyone recommend a chart service that will let me view Mondays by hour ?

 

[FetteredChinos]

i'll try to do some testing on FTSE futures data and let you know.


in the meantime, you can download data in pretty much any format from this site..

http://www.fin-rus.com/analysis/export/_eng_/default.asp


its a bit wonky in patches, but it should be sufficient for your purposes.

FC

 

[LJE]

i'll try to do some testing on FTSE futures data and let you know.


in the meantime, you can download data in pretty much any format from this site..

http://www.fin-rus.com/analysis/export/_eng_/default.asp


its a bit wonky in patches, but it should be sufficient for your purposes.

FC

Thanks will try that

 

[peterpr]

I've had a quick chunter through my daily data with Excel:

1. From Dec 2002 to date
2. August 2004 to date

December 2002 just happened to be the exported data from the graph I was looking at at the time and has no other significance. The price then was about 4,170 so the overall trend has been up ever since, which colours the result somwhat.

1.
Total bars 554,
Up bars 296 (53%)
Down bars 258 (47%)

Monday total bars 105
Up bars 59 (53%)
Down Bars 46 (47%)

2. This period has been a sustained 600 point uptrend

Total bars 125
Up bars 79 (63%)
Down bars 46 (37%)

Monday total bars 23
Up bars 15 (65%)
Down bars 8 (35%)

Doesn't look to me to be a tradable Monday system in that lot ( 6% and 3% up advantage for Mondays respectively for the two sets of data). As expected updays outnumber down days in an uptrend (also likely to when ranging because down moves are usually sharper than ups.

Useful excercise though - got the old grey matter into gear for a while.

PS - Afterthough - Also watch out for 'black swan' events - Mondays have been implicated in pretty well all the major market crashes

 

[LJE]

I've had a quick chunter through my daily data with Excel:

Thank for the info I guess I'm not looking a day as a whole just if there is a high of a few points on the start of the day (ie not necessary to end on higher) Have been looking at data downloaded from recommended source and have found last trading day or Frid before if last day is a Monday always takes a dip (but like above a dip from open not necessary to end on lower than beginning) also first day of Month seems bounce up a few must be monthly traders dipping in and out compounded with weekly traders. any thoughts ? I think over last 24 months 23 out of 24 follow at least 15 pip rise / fall on those days just need to look into those stops to make sure the 1 failure doesn't wipe out the 23 x 15 pips.