Anyone scalping the FTSE Futures??

Good Question Martin.
For me its depends where we are on the day range, as i calculate the market into zones.
For example yesterday you mentioned fishing on the bottom. When 5433 hit I went bang on the level, I knew the % likelihood that we would close up from there due to past data. So i felt like the risk was in my favour.
But when the market is trading in a neutral zone I look for confirmation first.
 
MartinC-J said:
Here's a question for you gentlemen and gentleladies, that I am often asked myself. How do you time your entry at a level or a trendline or a pullback to a moving average?

I almost always wait for it to tag the line/level/EMA, and then I enter on a stop on the first 1 tick move after the 1 minute candle that actually touched the line closes. But there are times when I enter exactly at the line but it usually results in more stops being hit than trades being timed to perfection.

How do you all like to time your entries? At the level or after confirmation of the level?

I use a crib sheet with all the set ups I usually want to trade. Everything fits on one page. On the left side I have continuations on the right side I have reversals. Most trends have at least three good continuation entries. I also look for rbis and gbis (red/green bars ignored on a 5mc) and outside bars and flags. There are usually at least three nice reversals in a day. I also like trendlines and channels on the 1 min and 5 min charts. I have a trade setup for a bounce off a trendline, and for a breach of a trendline. Triangles are part of trendlines. I also have a small bit at the bottom of the page for tight ranges and breakouts.

We will discuss exits at another time. It always difficult to determine how long to let a trade run. I am a scalper so usually stick to 10 pts, but occasionally let something run to 20pts. I need to work on letting trades run more which allows for fewer entries and less profits given up from exiting too early.
Click to expand...

Interesting, MJ. If I'm looking for reversal I generally keep my eye on the time as well 8:30, 9:0, 10:00 and 15:00.Today, for example, ftse made a feeble try at 8:30 and 9:00, a decent one at 10:00 and another feeble one at 15:00 - I didn't go for any of them.

As you may know, with my hedging lark I'm not really into straight directional trades - other than a bonus starter if it sets off right - and I'm pretty suspicious of TA on FTSE since I think it's led by DOW most of the time. You guys seem to make it work fine though :)

jon
 
DaddyJohn said:
are the B's your butcher and baker?? if so .. what are they? names for candles?
Click to expand...

butchers bakers and candlestick makers ha ...sometimes i talk rubbish but then so do politicians:D

yesterday was a butchers day market getting hammered big blood red candles strong down down down:(

today i was hoping for a bakers day ....nice mixture of green and red candles and a wee bit of kneading:D

then all i need is the candlestick maker and bob's your unc:D
 
Morning all. Got a feeling today is going to be pretty range bound. Need some Euro fireworks.
At the moment im looking for 5510 for the reverse.
 
have been shorting bunds since 7am.. so quite happy at the moment.. I can see ES perhaps trying to test 1250/54 today.. there aren't many prints in the zone 1245 to 1254 over the last few day as wednesdays move created a large gap between two value areas... it may take the opportunity ttoday to range a bit up their and test demand
 
the limited reversal effort at 8:30 gives us a bit more - watch 9:00 noww, but i'm off to golf then so prob just stick a hedge in although no real indication of ftse strength vs dow
 
reksa said:
Morning all. Got a feeling today is going to be pretty range bound. Need some Euro fireworks.
At the moment im looking for 5510 for the reverse.
Click to expand...

I take that back. Being a bank holiday in the US 'Veterans days' i assumed it might be a fairly low volume day. But the exchanges are open and the 11th Nov last years was a big vol day.
 
A very quiet morning ahead of the Italian Senate Vote at 12:00. I don't think there is any doubt that they will do what is necessary. So does this mean we get a spike up on the results of the vote. I guess we will but there aren't going to be any surprises.

On the 1 hour chart, the ES clearly rejected a move lower earlier this morning. Without a move back below this mornings low of 1236.75, and probably even 1241.00, then I can see one more push up to 1251.50 tuesdays low or maybe a fraction higher to the 61.8% level at 1253.50. After that it must try another attempt lower.

This afternoon we have the U of Michegan number which should miss estimates but still be fairly good. I can't see the americans going into the weekend holding too many positions as there is too much eurobabble going on. So probably a sideways day into the close or a massive selloff on a new rumour.
 
just a quick pop in
daughter doing the labour thing - I keep telling her pain is only relative

anyway sideways day looking for high on FTSE 5526 and on DOW 12048 and we do the whole drop thing early next week
 
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