Anyone scalping the FTSE Futures??

SuddenDeath said:
hmm. pure guesswork, if it holds these levels into the final 30mins the pro's will buy it into the close. so possible,

I keep forgetting they have 1pt spread on dow, Dow is very easy to trade with 1pt spread. stops can sometimes slip but otherwise they are fine.
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Speculation during the FOMC meeting until tomorrow may push it over 14K, where possibly a lot of stops have been placed.
 
Wow what a move by the FTSE, getting close to overtaking the DOW for the month.
ASX not priced in these moves by the FTSE and DOW.
Current 4889, should be at 4914 to keep pace.
Miners looked strong in London, see if we can get up to 4920/30 today.
5,000 getting closer.
DAX held 7,800, needs to move above 7',930 and hold.
Before it takes a shot at 8,000
 
Lee Shepherd said:
7600 @ £2pp

7700 @ £4pp

7800 @ £8pp

7900 @ £16pp

8000 @ £32pp
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Well, bon voyage, Lee :LOL: I'd have had a near fatal panic attack long before I was expected to lump £32pp on and I doubt wild horses could drag me to the button then if it came. I find it hard enough to make more than a couple of flat additions when it's gone my way, let alone doubles and more when it hasn't :) Makes me shudder to think of it.

What about hedging? You do any of that on the way?

Cheers

jon
 
Also got the FTSE under value by 10 points to DOW.
Japan retail sales only real data in Asia, not a big market mover.
 

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Looks like the short hunting after hours again. Newer highs on the FTSE tonight (again). 14000 + on the Dow tommorrow. Onwards and upwards.
 
barjon said:
Well, bon voyage, Lee :LOL: I'd have had a near fatal panic attack long before I was expected to lump £32pp on and I doubt wild horses could drag me to the button then if it came. I find it hard enough to make more than a couple of flat additions when it's gone my way, let alone doubles and more when it hasn't :) Makes me shudder to think of it.

What about hedging? You do any of that on the way?

Cheers

jon
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Imagine the stress when it goes through 8000 and your £64 a point short think this might be strategy for someone with 500k down as margin .
 
barjon said:
Well, bon voyage, Lee :LOL: I'd have had a near fatal panic attack long before I was expected to lump £32pp on and I doubt wild horses could drag me to the button then if it came. I find it hard enough to make more than a couple of flat additions when it's gone my way, let alone doubles and more when it hasn't :) Makes me shudder to think of it.

What about hedging? You do any of that on the way?

Cheers

jon
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Hi Jon,

I use hedging very rarely but when I do I use it to full extent and on huge extremes, an example of when this may be used is with gold one way and an index the other. The idea is that money flows from indices into gold and vice versa. This is only given certain situations as its not always prevalent.

Other examples can be oil against an index and certain currencies, but....

My favorites are always the four major indices, Ftse, Dow, Dax & SP500. For that is one way of the other. I'll load up then dump when the time is right.

This is when I see others knowing no boundaries to the height of the market and so the clients become greedy. The same is the reverse when I see a certain instrument going nuts by the people in the markets. Examples of this was when oil hit $140 a barrel and people where calling it up to $300, only months later it went to $30 and people were shouting it down to less than $10. A classic example of fear and greed.

The indices are no different but they are more realistic to price movements. Oil for example can move ridiculous amounts as a percentage term, the indices as comparison do not move nowhere near as much.

Market behavior that I look out for are mainly:

People believe the markets cannot go any lower - denial
People give up hope of it falling and change positions (go long) - lost one way now trying the other
Everyone saying I told you should have gone long ages ago- typically its losing steam by now and that trend is about to bend
People looking to get in long on retracements - allows dumping of contracts at ease as there are many buying them up


If I were to stick my neck on the line here and say that Dax will go below 7k within 6 months, the dow below 12k, ftse below 5500 and SP500 below 1400 most people will find that hard to swallow. Now here's the interesting bit....I dont need it to go down to those levels as by that time my positions would have grossed me my money and I would be out long before. Others will join the shorting train and make a bucket load and by the time it hits rock bottom they'll be loads others believing it will tank more and short it all the way up until they puke.

To reiterate, money management is absolute key and this is something that most overlook or worse still believe they are doing well already. These are the people that constantly lose money so the selective few can make theirs.

Regards,

Lee
 
Interesting posts Lee.

I suppose the only issue with your system is if we have a year like 95 or 96 where you simply don't see any red at all. 2013 could be like that although I pray it's not.
 
samspade79 said:
Interesting posts Lee.

I suppose the only issue with your system is if we have a year like 95 or 96 where you simply don't see any red at all. 2013 could be like that although I pray it's not.
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Hi Samspade,

Naturally you will always be able to find fault with any system, that's why human intervention is crucial, nothing can be set up and left to run otherwise computers would be trading as appose to people, also nothing is 100%. Even given that specific situation though, 1 year out of 17 ain't bad going for the basics. What you do with it past that is up to the individual and most still will get it wrong.

I'll use this analogy, I can give the building blocks to build a van to carry goods when everyone else is using horse and cart, I can even give safe routes to take but ultimately its up to the driver on whether the goods get there safely or not.

I'm also on the understanding that at some point I will blow another account, this is also why money management is crucial, and I don't just mean for the account but to ensure money is regularly taken out to start again should this ultimate event occur and the trader gets it wrong. Ultimately money should be constantly withdrawn not only for wages and to live on but to also invest in other avenues. Investment trading is and should be a secondary income as regular payments (unlike employment) cannot be guaranteed.

Having the understanding that I can blow at any time ensures my feet and mind stay firmly where they need to be.....I am not invincible. I just trade for money and hope that I get it right more than I get it wrong. That's what I've done since 17 years old, however, my past is never a guide to future results.

Lee
 
Morning guys ! Will be shorting the dax initially , will be interesting to see if I trades with a bearish tone again like the last 3 days, it was dragged kicking and screaming into the European close last night so worth a shout for a 20-30 point scalp ! Good luck happy trading !
 
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