Anyone scalping the FTSE Futures??

SuddenDeath said:
have u checked out the free systems on trade2win?
Click to expand...

Hi SuddenDeath

I have checked out a few, but some of them seemed a bit too complicated. I will take another look.

I've been trying my system and it's worked quite well over the past two months, 72% success rate and quite a healthy profit. I don't think I've quite cracked the discipline yet though. I've overtraded and over leveraged myself which has been costly. All the usual trading sins!
 
inzimam said:
I'd like some thoughts on my system please if you can humour a noobie

...
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Welcome inzimam.

I'm not a system person so cant really comment. Generally if a system works people catch on to it and then it doesnt work any more, thats the problem. Just my opinion.
Maybe someone more familiar with what your doing can help out.
Good luck anyway, there's £Billions to go around. (y)
 
postman said:
Welcome inzimam.

I'm not a system person so cant really comment. Generally if a system works people catch on to it and then it doesnt work any more, thats the problem. Just my opinion.
Maybe someone more familiar with what your doing can help out.
Good luck anyway, there's £Billions to go around. (y)
Click to expand...

Thanks postman, perhaps I've over sold the 'system' part, rather than being just a handful of signals.

What do you use? Pivots, gut feel of price action?

I need to get better at marking out the resistance/ support points. I tend to use the 4 hour and 1 hour charts to draw my lines and then trade off the 10min and 5 min chart. Any advice on the key resistance/support lines?
 
inzimam said:
Hi SuddenDeath

I have checked out a few, but some of them seemed a bit too complicated. I will take another look.

I've been trying my system and it's worked quite well over the past two months, 72% success rate and quite a healthy profit. I don't think I've quite cracked the discipline yet though. I've overtraded and over leveraged myself which has been costly. All the usual trading sins!
Click to expand...

Ahh! This is what you need to read next then.

http://www.trade2win.com/boards/educational-resources/20006-importance-psychology-trading.html
 
inzimam said:
Hi SuddenDeath

I have checked out a few, but some of them seemed a bit too complicated. I will take another look.

I've been trying my system and it's worked quite well over the past two months, 72% success rate and quite a healthy profit. I don't think I've quite cracked the discipline yet though. I've overtraded and over leveraged myself which has been costly. All the usual trading sins!
Click to expand...

people have huge expectations from trading expecting to make huge sums.

during the past year the hedge funds are up about 1.5% . they are the ones who have not shutdown.

u do not need to take huge bets to do well. small baby steps are better than huge trades.

there is a website where people post their systems and the systems can run for many years, u find over time the profitable systems all converge to around 2% growth per month.

but companies tell people u can make 2% per month, its not much of a selling promotional point. there are some very good videos about how to trade properly.
 
inzimam said:
Thanks postman, perhaps I've over sold the 'system' part, rather than being just a handful of signals.

What do you use? Pivots, gut feel of price action?

..
Click to expand...

What other people use to trade wont help you it will only confuse you.
If youve been through the beginners articles on T2W then you will have read the what type of trading suits me thread.
Once you know what type of trading is best for you, and you have a back tested system and youve sorted your psychology out you'll be in as good a shape or better than most traders. (y)
 
postman said:
What other people use to trade wont help you it will only confuse you.
If youve been through the beginners articles on T2W then you will have read the what type of trading suits me thread.
Once you know what type of trading is best for you, and you have a back tested system and youve sorted your psychology out you'll be in as good a shape or better than most traders. (y)
Click to expand...

Oh and dont forget the 10,000 hours. ;)
 
inzimam said:
Thanks postman, perhaps I've over sold the 'system' part, rather than being just a handful of signals.

What do you use? Pivots, gut feel of price action?

I need to get better at marking out the resistance/ support points. I tend to use the 4 hour and 1 hour charts to draw my lines and then trade off the 10min and 5 min chart. Any advice on the key resistance/support lines?
Click to expand...

watch this series of videos 4 parts, u will get the idea

 
Brilliant, thanks guys for the advice. I have realised that there are obviously lots of sales people out there promoting the get rich quick systems. I've been through a few and have decided I don't like holding trades overnight. I prefer to trade the early morning after FTSE opens until lunch and then the DOW after open till about 4pm UK time. Outside of these times I struggle.

Still learning, trying to do so with minimum losses. I'm definitely not trying to get rich overnight.

I'll check out all the resources you have flagged. Many thanks!
 
I made my 9340 on the Dax, I'm wondering how high the Dow can go.
I'm sure DC's answer will be 16600 and beyond.
 
anyone know when Yellen stopped speaking ?

the last time dow took out first hour high we ended up 181 pts
 
Last edited:
Its a long weekend, May is just around the corner, Russians are maasing troops near Nato troops. Buy Buy Buy!
 
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