Anyone scalping the FTSE Futures??

laptop1 said:
Hi Split,
Agree, but if you using spread betting for day trading, they make it hard for you, Ive tried the SB and find it very hard to day trade, but I guess ok for position trading, got to watch the stops, thet never trader at the price with SB......unless they have change,

I use Direct accuses, I find this suits my style more, unless spreading have change, the last time I used a SB was about maybe 4 years ago, maybe longer not sure. You can start off with trading 1 lot YM thats about 3 quid a point.

Let me know if SB got better?

LT
Click to expand...

Its difficult for me to make comparisons as I only trade with one, now. Have they improved? I don't, really, know. They seem ok, to me. :) I'm daytrading but in this atmosphere it is very difficult. I am ahead today, but only just.
 
barjon said:
You sure it's not paralysis by analysis, et?
Click to expand...

Yes, could be. For my timing.

I'm comfortable with my trend analysis i.e. predicting S/R levels. I have my own method. Influenced by others, but not read about it anywhere else. Comfortable with the fact it's not exact, but usually about right, and that it's mine I designed myself.

When it comes to timing, 95% time I can't use the same method I use for trend analysis, so I have to do something different.

I can for those fairly rare times when there is a clear trend signal on the 1-3 minute level. That's how I got in twice yesterday, successfully. At the low timeframes variation about the S/R level won't exceed my stop, so timing becomes less important.

When you get much higher timeframe the way it works is, there usually won't be a lower timeframe trend signal to tell me the price within a reasonable distance.

For higher timeframe S/R numbers I need to use other methods. I'm trying to design a timing method to go with my S/R predictions which I'm very happy with.
 
SuddenDeath said:
et which book on elliott waves would u recommend
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Never read one! :LOL:

Just a bunch of websites and youtube videos. I have my own system now. Pullback 61% or more = wave 2. Wave 4 pullback = 23-38%. Wave 4 will fake into one or more zig-zags if the last timeframe at which the EW from origin is visible is a higher timeframe than the one you are observing.
 
et. said:
Yes, could be. For my timing.

I'm comfortable with my trend analysis i.e. predicting S/R levels. I have my own method. Influenced by others, but not read about it anywhere else. Comfortable with the fact it's not exact, but usually about right, and that it's mine I designed myself.

When it comes to timing, 95% time I can't use the same method I use for trend analysis, so I have to do something different.

I can for those fairly rare times when there is a clear trend signal on the 1-3 minute level. That's how I got in twice yesterday, successfully. At the low timeframes variation about the S/R level won't exceed my stop, so timing becomes less important.

When you get much higher timeframe the way it works is, there usually won't be a lower timeframe trend signal to tell me the price within a reasonable distance.

For higher timeframe S/R numbers I need to use other methods. I'm trying to design a timing method to go with my S/R predictions which I'm very happy with.
Click to expand...

et, can you post a chart of your "95% confident" one that you missed - it'd be interesting to see
 
Wondering about it for a couple of days, supported by other signals in today's price action.

Posted this page 1797 of this thread.

11qs6z7.png


Since that time I

1. got a signal suggesting oversold past 5831

2. got signals today at mid timeframes using my S/R prediction method suggesting that region was about right.


BTW I also have another timing method, which I forgot to mention. This method is for price action when trending with 15 and 150 EMA. I've mentioned it before. If there is S/R line within 38% of Fib drawn from last range to trend high, the trend will continue. However, this method didn't apply much today due to the ranged conditions, and didn't apply to the reverse.

Edit: An example. You can see in the above chart there is NO S/R line within 38% Fib. It's all one bullish candle. when that happens you usually get a significant pullback. When it doesn't mean a reverse, the trend will continue at an S/R level on the reverse side of 15 EMA between 38-100%. One way to guess if it's a reverse is to look at a timeframe one higher, and do the same analysis there. There aren't that many timeframes above 4hr, but I think the Weekly chart suggests continuation.

This is obviously a decent strategy in its own right... feel free to try it out. It requires a nice trending chart. It's not 100%, and occasionally, it sort-of fakes, but then continues.
 
Last edited:
et. said:
Wondering about it for a couple of days, supported by other signals in today's price action.

Posted this page 1797 of this thread.

11qs6z7.png


Since that time I

1. got a signal suggesting oversold past 5831

2. got signals today at mid timeframes using my S/R prediction method suggesting that region was about right.


BTW I also have another timing method, which I forgot to mention. This method is for price action when trending with 15 and 150 EMA. I've mentioned it before. If there is S/R line within 38% of Fib drawn from last range to trend high, the trend will continue. However, this method didn't apply much today due to the ranged conditions, and didn't apply to the reverse.
Click to expand...


So you reckoned the bounce somewhere between 5831 and your solid support at 5822? And you were put off because it happened 5 minutes early - blimey you are trying to turn an art into science :)

For me, as soon as it dropped below 30 I'd be dropping to M5 and taking a punt as soon as I saw some evidence of a bounce - and because 15:00pm is one of my favourite reversal times (if that was the time it happened), I might just have taken a straight punt as the clock struck with a stop about 5 or so below your support level. As it happens the earlier descent slowed markedly ten minutes before and the last 5 min candle was a good indecision one and well worth a go given the hour and what you were expecting - wish I'd been about to see it, lol.

FWIW I think all you are doing is giving you a really good guide, but I don't think you can expect to trade from it with the precision you might like. I just don't think the market behaves like that.
 
barjon said:
For me, as soon as it dropped below 30 I'd be dropping to M5 and taking a punt as soon as I saw some evidence of a bounce
Click to expand...

I should have waited for at least some evidence of reversal first. It was a high timeframe move. Common sense that it would take some time to turn around, and larger margin of error. I was behaving like it was a low timeframe move that would have a 'V' reverse rather than a distinctive "U".

I agree I'm giving myself a good guide... it may help if I can stick to this strategy now as not doing so could be a reason why I mentally fall apart when the moment comes to trade. Sticking to strategy is something which I have not done, as I've always been developing it. Changing strategy doesn't help because you make mistakes when you forget what strategy it is you are doing today because you make big changes to it every two days. All my strategies have been very high percentage but my actual trading percentage has not yet improved over c40 trades. May have even got worse!
 
Morning All
BHP +0.50%
RIO +0.29
Asian markets have been copying the FTSE by slowly grinding higher.
FTSE set to open close to 3 day highs and DAX to open close to weekly highs.
 
Morning jungerns

Should see some pull back, but the weekly suport levels should hold.
Just reading some of et wave blogs.
I'm lost and information overload.
 
bustech said:
Morning SD

Some of the Euro data yesterday was poor.
At some stage this data will have to weigh on markets.
Click to expand...

think markets have accepted that economies are doing poorly so bad data does not cause sell-off. ie. "bad news = not news"

Dow strong into the close, "Pros bought it"
 
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