Anyone scalping the FTSE Futures??

Here we go.
Hold on to your hats.
 

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f2calv said:
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All in all quite pleased with my first major foray into options, so much so have just bought some PUTs with Nov 20th expiry @ 14:45;

dow 17300 PUT - 1 contract
S&P 500 2050 PUT - 1 contract (already in/out of the money)
EURUSD 10650 PUT - 1 contract (bought at 06:00 - already in the money)
I will buy a weekly DAX put next week, or after market close tonight.

Total risk of $1398, I will *attempt* to let them run all next week, looking for a 4R.

...
Click to expand...

An update, with a view to being more transparent on failed as well as successful trades;

dow option at the height was up ~250 USD
S&P option at the height was up ~650 USD
EURUSD option at the height was up ~200 USD

I was intended to let these run, however I hadn't counted on the ever changing option volatility, so one minute they were up the next back to breakeven.

The volatility [and my inexperience with options] combined with having a losing day yesterday, my emotions got the better of me and I closed all options out for a loss of ~ 400USD.

Of course right this second I would be up ~500USD but the lesson learned was primarily that "let your winners run" only goes so far in "Option land" - due to their volatility I could have taken profit several times and re-entered at a more attractive ask.

Plus in option land I have discovered the risk:reward appears to be measured in % gain rather than a ratio, so by all accounts if I'd kept greed at bay that would've been a 75% profit.

To give you an idea of the volatility, below is S&P PUT chart, I bought at 8.4 post-NFP on Friday 6th;
opt1.png


Still running dax 10650 & ftse 6100 puts which expire friday pm, fingers crossed for an almighty tank so I end up the week at breakeven :devilish:
 
f2calv said:
An update, with a view to being more transparent on failed as well as successful trades;

...
Click to expand...

Nice update.
It is a chance for people to learn from others mistakes. Its the cheapest way to do it but so many dont take the lessons on board.
Thanks.
 
f2calv said:
An update, with a view to being more transparent on failed as well as successful trades;

dow option at the height was up ~250 USD
S&P option at the height was up ~650 USD
EURUSD option at the height was up ~200 USD

I was intended to let these run, however I hadn't counted on the ever changing option volatility, so one minute they were up the next back to breakeven.

The volatility [and my inexperience with options] combined with having a losing day yesterday, my emotions got the better of me and I closed all options out for a loss of ~ 400USD.

Of course right this second I would be up ~500USD but the lesson learned was primarily that "let your winners run" only goes so far in "Option land" - due to their volatility I could have taken profit several times and re-entered at a more attractive ask.

Plus in option land I have discovered the risk:reward appears to be measured in % gain rather than a ratio, so by all accounts if I'd kept greed at bay that would've been a 75% profit.

To give you an idea of the volatility, below is S&P PUT chart, I bought at 8.4 post-NFP on Friday 6th;
opt1.png


Still running dax 10650 & ftse 6100 puts which expire friday pm, fingers crossed for an almighty tank so I end up the week at breakeven :devilish:
Click to expand...
Yes i think you learn by the school of hard knocks.
I used to trade shares but after a few shocks i gave up.Shares of good companies can half in one day or they can be suspended .So after that i didnt touch shares.Spreadbetting is ok as long as you have stops and dont hold over the weekend where gaps can occur.The main thing is for YOU to be in controll of your position.Do not let it controll you.(y)
What size is your account?Im cheeky :devilish:
 
itspossible said:
What size is your account?Im cheeky :devilish:
Click to expand...

I'd say quite a bit higher than average?

I normally trade anywhere from £2/point to £10/point on the ftse - when I have pyramided in I've gone as high as £300/point. Unintentionally I traded £500/point on the ftse when I switched from spreadbets to CFDs, that cost me £6k in a few seconds :/

Biggest intentional dax trade was 10 contracts, so 250 EUR/point, I held onto that trade for about 7 points then bottled it :eek:

The closer ftse gets to 6000 (or dax to 10500) it's my intention to be buying multiple high value call options (via CFDs and spreadbets) with the intention of riding the coattails of any possible "santa rally "- I aim to document them on this thread.

I'm really getting into options and would welcome any input from others who use them to trade the indexes...
 
f2calv said:
I'd say quite a bit higher than average?

I normally trade anywhere from £2/point to £10/point on the ftse - when I have pyramided in I've gone as high as £300/point. Unintentionally I traded £500/point on the ftse when I switched from spreadbets to CFDs, that cost me £6k in a few seconds :/

Biggest intentional dax trade was 10 contracts, so 250 EUR/point, I held onto that trade for about 7 points then bottled it :eek:

The closer ftse gets to 6000 (or dax to 10500) it's my intention to be buying multiple high value call options (via CFDs and spreadbets) with the intention of riding the coattails of any possible "santa rally "- I aim to document them on this thread.

I'm really getting into options and would welcome any input from others who use them to trade the indexes...
Click to expand...

I'm a very small fish. compared to that :confused:

Some of you guys are beasts on here - in a good way
 
chronictrader said:
I'm a very small fish. compared to that :confused:

Some of you guys are beasts on here - in a good way
Click to expand...
Obviously I'm not suggesting that the size of ones account has no bearing on their ability as a trader - far from it, I *know* I'm not a good trader *yet*.

Jan to April this year were excellent, every month after I've either been breakeven or drawdown so yeah go figure... Chronic you (and dentist) have made some great calls over the past few months that's for sure, so even if you acted on just half of them kudos to you tbh.
 
f2calv said:
Obviously I'm not suggesting that the size of ones account has no bearing on their ability as a trader - far from it, I *know* I'm not a good trader *yet*.

Jan to April this year were excellent, every month after I've either been breakeven or drawdown so yeah go figure... Chronic you (and dentist) have made some great calls over the past few months that's for sure, so even if you acted on just half of them kudos to you tbh.
Click to expand...

haha thanks

And yes that's very true - the day i get to £100 per point is the day I'll be a rich man haha :LOL:
 
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