Anyone scalping the FTSE Futures??

"The GotGoldReport comments, however, that if recent history is any guide these large short positions are more often that not an indicator that we are getting close to a bottom, as the chart below suggests:" from goldmoney website
 
SuddenDeath said:
"The GotGoldReport comments, however, that if recent history is any guide these large short positions are more often that not an indicator that we are getting close to a bottom, as the chart below suggests:" from goldmoney website
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http://www.timingcharts.com
On the Cot tab, stick it on index and then 26 weeks.
1 idea is to go with the commercials. So commercials are long (90 to 100) and large and spec are all short (10 to 0).
Obv, more tricky as there is hedging and stuff to take into account but a useful tool nonetheless.
 
Dick Lexic said:
certainly would be :cheesy:....does it usually close gaps? isee another on may 4th not closed yet....great trade again samirs think your in a different league mate
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Actually the gaps in retail Forex are simply because retail brokers close their price feeds off on the weekends.

The banks continue buying and selling through the weekend so there are no real gaps in forex in that sense.

One argument is that gap closing works in forex as a self fulfilling prophecy - since most believe gaps will be closed those get closed just as many believe in fibs, trend lines, S/R etc. :)
 
samirs said:
Actually the gaps in retail Forex are simply because retail brokers close their price feeds off on the weekends.

The banks continue buying and selling through the weekend so there are no real gaps in forex in that sense.

One argument is that gap closing works in forex as a self fulfilling prophecy - since most believe gaps will be closed those get closed just as many believe in fibs, trend lines, S/R etc. :)
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Sometimes, it's simple supply and demand. There are orders waiting in those gap areas and they tend to get filled.
 
Dick Lexic said:
a guy called david paul was involved with this room ....i think that was his name you posted a video of him not long ago.....i think the room is closed now
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Didn't someone expose this guy? Tom Hougaard

LOL

We don’t teach you the stuff you can learn yourself from an ordinary technical analysis text book such as Edwards & McGee. We frankly think it is despicable that anyone will charge you up to £4k for a weekend seminar, giving you the same knowledge that you can acquire from investing £40 in a basic technical analysis book. The knowledge you are taught in our course is simply not something you find in standard text books on trading. To give you a couple of examples of what we mean by that, let us briefly highlight two topics we teach:
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Of course, his course charging 1k is not despicable then :)
 
Sidekicker said:
Sometimes, it's simple supply and demand. There are orders waiting in those gap areas and they tend to get filled.
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May be. But how much influence retail orders would have in getting the gaps filled. Retail orders are drop in ocean in trillion $ forex trade.

The point is there are actually no gaps in forex since banks keep trading even during weekends. Retail perceive gaps on their charts since what happens during weekends / bank holidays is not on their chart.

The whole gap filling business is self fulfilling prophecy or just a coincidence not causation.

Above could be wrong but sounds logical.
 
samirs said:
May be. But how much influence retail orders would have in getting the gaps filled. Retail orders are drop in ocean in trillion $ forex trade.

The point is there are actually no gaps in forex since banks keep trading even during weekends. Retail perceive gaps on their charts since what happens during weekends / bank holidays is not on their chart.

The whole gap filling business is self fulfilling prophecy or just a coincidence not causation.

Above could be wrong but sounds logical.
Click to expand...

i thought gaps got filled because gaps represented unfilled orders, the market makers want to match as many orders as possible.
 
samirs said:
May be. But how much influence retail orders would have in getting the gaps filled. Retail orders are drop in ocean in trillion $ forex trade.

The point is there are actually no gaps in forex since banks keep trading even during weekends. Retail perceive gaps on their charts since what happens during weekends / bank holidays is not on their chart.

The whole gap filling business is self fulfilling prophecy or just a coincidence not causation.

Above could be wrong but sounds logical.
Click to expand...

Yes and no I think. The banks keep trading in that they are exchanging retail money and sending money around the world but the actual forex desks are closed (and most offices as well). Try ringing a bank over the weekend to exchange £1m and see how far you get with your order. However, go to the Post Office to exchange 100 euros and you will get some money but it's not represented on the inter bank market until the market actually opens again in the far East.
 
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