Anyone scalping the INDEX Futures??

[Dowser]

Not a good idea to be looking at two different charts whilst trading. Will probably paper trade for a bit whilst I get my act together.

 

[Dowser]

Paper Trade(PT) Sell 18875 stop 10 target 25

 

[Dowser]

out -10

 

[Dowser]

Not a good idea to be looking at two different charts whilst trading. Will probably paper trade for a bit whilst I get my act together.

In fact, will take a break from posting because I don't think its helping. Thought it might be quite therapeutic but it just adds to the stress atm.

 

[barjon]

In fact, will take a break from posting because I don't think its helping. Thought it might be quite therapeutic but it just adds to the stress atm.

Good move. If posting helps concentrate the mind - fine, if it is a destructive diversion - bad.

 

[postman]

Paper Trade(PT) Sell 18875 stop 10 target 25

I S YM here.
I own this ... sorry forgot which thread I was on for a minute.



These US markets are forging ahead despite all international and national events. Money is king, the people who invest billions are apolitical they just want more money and they think they're going to get it in the US, despite an interest rate rise in December.

Buy the dips until the FED meeting, then when the proverbial hits the fan buy even more. It will be years before rising interest rates start to bite into the economy. Dow 20,000 by April next year.

 

[Dowser]

Dow 20,000 by April next year.

But when are we going to see this key 21000 level? that's the question!

 

[darktone]

But when are we going to see this key 21000 level? that's the question!

About 10mins after 20000 prolly

 

[Dowser]

Sounds like it rings a bell. I did a thread a while back that defined trend with a close around an MA. That thread was a bit of a turning point for me, I was trading with fear. Might help you in a 'what not to do' sense.

You might want to look into trading the direction of your slow trend and positioning by fading the fast trend signal. The thing is youll still likely give back big when the slow signal starts to chop, its the same with all confirmation derived signals.

So, I'd identify a 'slow up trend' by for eg. a breakout of a range and closes above 5EMA then enter buy positions when M5 closes are on or below their 5 EMA? I've attached (cherry picked) a chart from the 15th.

 

[Dowser]

About 10mins after 20000 prolly

...and back to 20000 10 minutes after that. Gonna be an interesting day, might have to widen my 10 pointers

 

[Don17]

My first post on here, been lurking for a while and learning loads... Lots of good knowledge being freely shared here.

I've been doing a bit of what you guys call scalping. Generally I'm trading a 2x or 3x leveraged ETF (FTSE 100 and DAX). Have been having a bit of success making a few hundred quid a week which isn't bad.

Do you guys use the leveraged ETFs? Would be interested in your thoughts.

 

[Dowser]

I spread bet myself and I think a lot of the other UK traders do too. CFDs and Futures are also popular. How much does a round trip cost for your ETF trades?

 

[Don17]

I'm assuming by round trips you mean spreads, they are pretty wide and do limit profit for sure, plus stops aren't guaranteed nor can you do trailing stop losses.

Starting to question why I'm trading ETFs now!

 

[Dowser]

Yes, was referring to the total cost of buying then selling. If you're scalping then it's all going to add up quickly. Never tried it and I'm certainly no expert, but I think there are much more efficient ways of short term trading.

 

[Don17]

Yes, was referring to the total cost of buying then selling. If you're scalping then it's all going to add up quickly. Never tried it and I'm certainly no expert, but I think there are much more efficient ways of short term trading.

I looked up the definition of scalping and turns out that's not what I was doing! Sorry!

Basically I'm just buying and selling leveraged ETFs following a contrarian strategy and thought incorrectly based on some other stuff I read that this was scalping and have made a right @rse of myself on here.

Will look into the art of scalping over the weekend and try to give it a go.

 

[Dowser]

Scalping does have a precise definition and a lot of people who claim to do it are actually just trading over a very short time frame. I wouldn't worry too much about making an @rse of yourself on here, I do it on a daily basis. If you'd like to try short term trading one option would be to set up a demo account with one of the spread betting firms, but if you've got a strategy that works I'd say stick at it.

 

[darktone]

So, I'd identify a 'slow up trend' by for eg. a breakout of a range and closes above 5EMA then enter buy positions when M5 closes are on or below their 5 EMA? I've attached (cherry picked) a chart from the 15th.

Thats the jist, but your slow trend at 15min isnt so slow really, a daily chart would be easier to manage, scaling into things on a 5 - 15min (feels funny talking in time frames again ). Youll make in the trends providing you dont stop yourself silly, but will give back in the chop. Its possible to grind out a profit like this but its the hard road in my experience.

I just seen your mojo btw, it was being chased outa town by your ego

 

[swissy]

...and back to 20000 10 minutes after that. Gonna be an interesting day, might have to widen my 10 pointers

Hi - Good on you for posting an honest journal. Are you placing fixed stops? 10.
You need to consider each trade in context - is this a scalp/fade/swing for example and what are the conditions (technical and fundamental).

You will start to change your stop placement to the conditions. Fixed stops rarely work. If your worried about your risk level just trade small scale. Getting a methodology that works for you is what is important not making money.

If you are getting wound up - I would look at longer term trades with large stops and sized appropriately to your risk level. Blood pressure much improved - even with a losing trade if you have spent that time doing something useful for yourself or others you will feel a lot better about that losing trade!!

I do opportunistic scalps...but I don't class myself a scalper. I prefer longer term trades so I can get on with something else as well (like posting drivel on t2w lol) and not be looking at the screen all the time, I've done that and it doesn't do me any favours (but I did learn a lot about myself and how my chosen market moves).

All in my humble opinion of course.

 

[Dowser]

I just seen your mojo btw, it was being chased outa town by your ego

Ego? Moi?

 

[Dowser]

Hi - Good on you for posting an honest journal. Are you placing fixed stops? 10.
You need to consider each trade in context - is this a scalp/fade/swing for example and what are the conditions (technical and fundamental).

You will start to change your stop placement to the conditions. Fixed stops rarely work. If your worried about your risk level just trade small scale. Getting a methodology that works for you is what is important not making money.

If you are getting wound up - I would look at longer term trades with large stops and sized appropriately to your risk level. Blood pressure much improved - even with a losing trade if you have spent that time doing something useful for yourself or others you will feel a lot better about that losing trade!!

I do opportunistic scalps...but I don't class myself a scalper. I prefer longer term trades so I can get on with something else as well (like posting drivel on t2w lol) and not be looking at the screen all the time, I've done that and it doesn't do me any favours (but I did learn a lot about myself and how my chosen market moves).

All in my humble opinion of course.

Yes, I use fixed stops and they have worked for me for some time, but I think its one several aspects of my trading style that needs work including the timeframes I use. I need to take a step back and address these issues. Thanks for your input