Anyone scalping the FTSE Futures??

E Mini S & P is currently sitting at support around 1667. Which way is it going to go after Benanke's testimony is released ? I am currently flat but my bias now has changed to long at current levels.
 
Big bounce in the last half an hour (on no news ?) to take ES & Dax back to the top of the current trading range. Will markets break out now to the upside or will they race back down to the bottom of the range ?
 
I put in an order to buy at 6525, with a 20 point stop and a target at 6540 that triggered at about 1125
It went to 6533, so moved my stop to break even. At the same time I thought that I might be a bit pessimistic with the target, so raised it to 6560

I did this all with orders as I had jobs around the house to do and the target triggered at about 1210.

A very painless gain of 35 points in 45 minutes

I've mentioned using orders before, you don't have to keep on watching all the time

I don't know whether it is going to go up or down. I put the orders in and leave it, with a quick glance every 10-15 minutes.
 
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Splitlink said:
...............jobs around the house to do and the target triggered at about 1210........
Click to expand...

Nice one, split, but my main excuse for getting out of "jobs around the house" is to swear blind I've got to keep watching the screen at all times. ftse/dow been going great guns. First hour ftse traded +16 strong, then -45 weak over the next two hours, then +30 strong over the next two.
 
barjon said:
Nice one, split, but my main excuse for getting out of "jobs around the house" is to swear blind I've got to keep watching the screen at all times. ftse/dow been going great guns. First hour ftse traded +16 strong, then -45 weak over the next two hours, then +30 strong over the next two.
Click to expand...

I'd like to get those 0800 openings but, TBH, I haven't got the nerve to put orders in so early and to do it manually, at my age, with so much volatility, makes my hands shake! 😆
 
Splitlink said:
I put in an order to buy at 6525, with a 20 point stop and a target at 6540 that triggered at about 1125
It went to 6533, so moved my stop to break even. At the same time I thought that I might be a bit pessimistic with the target, so raised it to 6560

I did this all with orders as I had jobs around the house to do and the target triggered at about 1210.

A very painless gain of 40 points in 45 minutes

I've mentioned using orders before, you don't have to keep on watching all the time

I don't know whether it is going to go up or down. I put the orders in and leave it, with a quick glance every 10-15 minutes.
Click to expand...

This is a good way of keeping the emotions out of trading.
 
Markets seem to like Ben's testimony so far. ES up over 10 handles from the Globex low at around 10.30am. The real action normally comes in the Q & A session later.
 
afternoon barjon and Splitlink

i have been trading the dax/ftse spread, IG are kind enough to provide a graph of the spread. easy money imho
 
SuddenDeath said:
afternoon barjon and Splitlink

i have been trading the dax/ftse spread, IG are kind enough to provide a graph of the spread. easy money imho
Click to expand...

sure is, sd - much more relaxing, too. I've been chopped about a bit with my equities lately, so all edge of the seat stuff compared to ftse/dow (or dax in your case 😆). I don't stray from ftse/dow and I reckon I've got quite a good feel now for how and when ftse has its bursts of strength/weakness
 
barjon said:
sure is, sd - much more relaxing, too. I've been chopped about a bit with my equities lately, so all edge of the seat stuff compared to ftse/dow (or dax in your case 😆). I don't stray from ftse/dow and I reckon I've got quite a good feel now for how and when ftse has its bursts of strength/weakness
Click to expand...

IG do ftse/dow also as a chart, i work on 15min timeframe also IG alerts on the differential charts, alert to sms/email. EURGBP affects dax/ftse ratio.

only slight slight drawback is the differential chart is based on futures price not spot, but its pretty similiar

today dax has been -22 and currently +28 pretty good range on spread
 
anyone watching the Dow after the cash close ? :-0

I think it was caused by IBM earnings release which beat market forecasts. Not sure why it spiked down so much at first.
 
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IBM biggest weighting on the DOW at about 10%

If ASX and HK break higher good chance of being today.

O/E in Sydney.

ASX support 4.984 res 5,040

Current 5,003
 
bustech said:
IBM biggest weighting on the DOW at about 10%
Click to expand...

That's right - it is a bit crazy how the DOW is constructed. I prefer the broader based S&P but you cannot argue with a 1 point spread on the DOW if you are using spread betting companies.

I was holding a long on the DOW until just before the cash close. I would have been stopped out if I held on to it as it spiked down to 15420 just after the close before hitting 15511 a few minutes later.

There was some really good movement today. Hope we get more of the same tomorrow.

Hope your trading day goes well Bustech.
 
bustech said:
IBM biggest weighting on the DOW at about 10%

If ASX and HK break higher good chance of being today.

O/E in Sydney.

ASX support 4.984 res 5,040

Current 5,003
Click to expand...

Shot out of the range at the open with opening orders.

Volume poor and sucked straight back into the range.

High 5018 - Low 4982 - close 4,990

Very quiet for an O/E day.

Hong Kong still stuck in the 4 day range.

Sit and wait again on Friday.😴
 
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