Anyone scalping the FTSE Futures??

[dc2000]

DOW should provide another entry in session

 

[DaddyJohn]

5287 and 11525 now long

reasoning close enough on DOW target and close enough to FTSE low so far as today may turn Z day

Interesting your entry was exactly as ES went down and tested the high of yesterdays value area..

 

[dc2000]

DC.. I hope you dont mind but for those still trying to get to grips with the taylor method (including me) I thought I would like to have a go and explain what I think you are refering to here.

1) Todays price action will tell us if we have had a SS day or another Z day.. if we get a higher high today then we have had a Z day and tomorrow will be a SS day..

2) However.. currently price action is making this look like a SS day and therefore tomorrow should see a lower price printed perhaps 5207-5239 in order to set in a buy day low which then sets up the next pattern to take us to the target at 5426

????? am I close????

correct on number 1
correct on 2 the 5239 being spot on for a three pattern

caveat is FTSE did bare minimum which is not normal for a SS day the 365 and 426 are in granite
so a Z day with 365 ish even after hours then a SS day with 406 down to 304 thursday high 426 would be on target slow but on target
of course if the DOW opens and races to 11800 then this will shorten my timeframe

 

[Chalky_trader]

Hi Martin

Apologies if this has been asked before but which firm do you scalp with,


Thanks

Chalky

 

[DaddyJohn]

correct on number 1
correct on 2 the 5239 being spot on for a three pattern

caveat is FTSE did bare minimum which is not normal for a SS day the 365 and 426 are in granite
so a Z day with 365 ish even after hours then a SS day with 406 down to 304 thursday high 426 would be on target slow but on target
of course if the DOW opens and races to 11800 then this will shorten my timeframe

Nice to know i am starting to get the hang of this..

mind you .. I wont go long until I see ES above 1196.25

 

[DaddyJohn]

dont you just love these algos !!!!

 

[Splitlink]

Long at 1505---5308

 

[Splitlink]

Took a quick profit on that +21.8 at at 1519---5329.8 I have had an excellent day. Don't want to push it!

 

[Sidekicker]

Prob good opportunity in Bonds at the moment. Short US 10year and go long the bund:

 

[DaddyJohn]

good day for me too.. I was long just before the consumer sentiment report hit so managed to ride that for a few seconds.. get out .. and reload once the algos had their fun..

DC.. it is desperately trying to put in your Z day .. perhaps after hours

 

[Mornington Crescent]

looks very doji today

is that the same as a Z day ?

 

[Splitlink]

Sold FT 1604 ----5316

 

[MartinC-J]

Would someone please remind me why we trade the afternoon session?

The price action for the FTSE has been schizophrenic compared to the ES, and even then the ES is twitching a little bit too. Lots of one tick breaks and trendline breaks. And yes John, I got chopped around by the algos just after 3:03pm. In the afternoon session I am at breakeven. Thankfully the morning session was good.

I have found afternoon sessions quite hard of late. We basically get an hour and a half to catch a wave, and on so many occasions it has resembled the random scribblings of a 4 year old. Must be time for a cuppa!

 

[Splitlink]

Sold FT 1634 -----5336.3 -20.3

I let that one hang on too long

Nasdaq isn't looking so firm as FT, to me.

 

[DaddyJohn]

Would someone please remind me why we trade the afternoon session?

The price action for the FTSE has been schizophrenic compared to the ES, and even then the ES is twitching a little bit too. Lots of one tick breaks and trendline breaks. And yes John, I got chopped around by the algos just after 3:03pm. In the afternoon session I am at breakeven. Thankfully the morning session was good.

I have found afternoon sessions quite hard of late. We basically get an hour and a half to catch a wave, and on so many occasions it has resembled the random scribblings of a 4 year old. Must be time for a cuppa!

I think the algos were a bit surprised by the consumer data.. they wanted to take it up ,, but saw it as an opportuntiy to swing you about a bit..

I know many traders who will only do mornings or afternoons , but not both..l because the price action is so different.. and so hard to transition from one to the other... if you have doen well in the morning , you naturally keep trying those things in the afternoon.. but they wont work and you lose your money.

If I do well in the morning . I tend to be very , very select about what i do in the afternoon.

 

[MartinC-J]

Hi Martin

Apologies if this has been asked before but which firm do you scalp with,


Thanks

Chalky

Sorry Chalky but I missed this one from earlier in the day. Apologies for the late response. I use Open ECry as my broker and for charts and data. I pay £1.81 per round trip per lot for the FTSE Futures. That includes all charts, data feeds, exchange fees and commissions.

I don't use spreadbetting for FTSE trading simply because the platforms do not offer trading off a ladder/DOM. And they restrict you on limit and stop order settings.

The only problem with using direct access is that it would be nice to start with smaller contract size when starting out. If it was £2 per point instead of £10 per pt, it would be easier to build up courage when live trading.

 

[MartinC-J]

I think the algos were a bit surprised by the consumer data.. they wanted to take it up ,, but saw it as an opportuntiy to swing you about a bit..

I know many traders who will only do mornings or afternoons , but not both..l because the price action is so different.. and so hard to transition from one to the other... if you have doen well in the morning , you naturally keep trying those things in the afternoon.. but they wont work and you lose your money.

If I do well in the morning . I tend to be very , very select about what i do in the afternoon.

You are right about the price action being different in the afternoon, but I usually am prepared for this. I should have enough experience by now to be able to trade both sessions, regardless of the price action. I just got a little to eager to enter after the data at 3pm and got tricked by the outside bar at 15:04.

I should have taken your advice and been more selective after a good morning session.

 

[datav]

Looks like a good time to go long for 10-20 point gain here

 

[dc2000]

Took a quick profit on that +21.8 at at 1519---5329.8 I have had an excellent day. Don't want to push it!

always nice to see traders having a good day

 

[dc2000]

still waiting for a good exit here 361 FTSE would be ok but preference would be 5390
DOW 655 would be ok preference would be 696