I think that DJ was going up on low volume on Wednesday. I think it goes up and down on any volume, for me.
I think that DJ was going up on low volume on Wednesday. I think it goes up and down on any volume, for me.It’s very difficult to measure. As you mentioned most of it is hindsight. If my system does not signal a trade I try to keep out. But that leaves me watching for a lot of time. So I need to fill the gap. This is why I joined Martins thread. To try a get a better feel for scalping so I can be active in the market.
Yes that's correct. Well 2008, so almost 4 years. I wish I had had the courage to have taken it full time way before that.
I’m sure most people can relate with me, there is no job like it. Still after all this time I can be laying in bed and have a idea pop into head, no chance of sleep after that. You have to get up and work it all out.
It's very difficult, mate. I I got 35 points out of the Dax, this morning. It went down further before it went up. No way could I have spotted that rise and I did not expect it, either. When it happened, I didn't believe it, so I lost it. I think that it takes a lot of mental domiination to overcome one's opinion about what is going to happen and I was getting ready to short again. The Dax, i said earlier, was a no brainer for me. It could have been wrong, though!
I nearly lost the pullback at 1030 on FT and have barely made 9 points out of it.
The first hour of trading the Dax is worth watching if you have an opinion on how London will open. You can get into the Dax with a 1 pt. spread because it opens at 0700 UK time. When London opens it can move, though, so be right!
35 points is good going, I just looked at the chart for the DAX. So i take it your trading the FDAX as the cash market opens 9am CET. I have never traded the DAX but always keep my I eye on the chart.
I always assumed that the Dax was open. There is only a point spread when I trade. I opened at 0740 CET.
The more I look at this, the more it looks like the FTSE Futures are going to 5500. I haven't looked but maybe FTSE cash just hit 5500. So I have a limit sell sitting at 5498, just for the heck of it. It's a whim on a sim trade. So it don't mean much.
SuddenDeath
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the cash seems to be = futures +24pts
Thanks SD. It didn't make it to 5500, so my whim is unfulfilled. I have it about the same for cash to futures difference. Maybe this time it was the cash that led with the round number. It went to 5500.29 and sold off.
As for this afternoon, it has been an unpredictable market for scalpers, unless you were prepared to take some risks range trading. But if you were looking for a trend to get in on you would have been punished.
Going into the close it looks like the US wants to keep a lid on it, and europe wants it up. I am done for the week except for a 16:29 trade if one presents itself.
DaddyJohn
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Just went short on small position on 5449.. meant to get it earlier but fell asleep... not sure really if I am right , but at these levels and with the G's perhaps disappointing this weekend , I cant ignore the chance..
Well the move down at 16:23 caught me by surprise a little. It seemed to come from the ES instead of the FTSE. I am sure it had something to do with the EU announcements at 16:20. I bottled out of the 16:29 trade. I closed my long trade for +2 pts instead of just letting it run for the full 10 pts. I couldn't be sure what the news was that caused the sell off at 16:23, so I closed thinking I was just in on a bounce. Got that one wrong.
That's what I did with Ft cash, right to the 2 point stop. I was busy with something else,
saw it whiz down 12 points, put a 2 point stop on thinking it would't trigger, turned off the computer. When I got back it had gone. I think that it ran into buying orders but it hasn't gone up that much, has it? Probably, end of week lack of interest.
DaddyJohn
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In terms of direction.. risk on assets are looking bullish.. but approaching or at key resistance either in terms of prices, retracements or EMAs.. German Bunds are looking very bearish .. but again closed Friday on key support. With all closes on highs .. you would have thought this momentum will follow through to tomorrow. I am looking for an early high tomorrow and then a sell off into the afternoon and then maybe another push up.. but I do feel markets need to pull back a bit before attempting higher highs.. but I will be positioning myself for a big push by raging bulls... I may even back off the FTSE a bit this week and concentrate on the German Bund.. which is likely to get a hammering if Germany is going to foot even more of the bill.. perhaps even a downgrade on Germany this week?? why not everyone else is getting it.
My FTSE levels for tomorrow are
5520/26
5478 - previous high
5371 - previous low
5365
5301/08
5280
I have been doing a lot of thinking the last few days about if I still hold out on the view that markets have to put in lower lows due to the fundamentals. I wonder if there is a shift in thinking with the large institutions about how they view fundamentals now.. I will post some thoughts on this over the next week or two.
My FTSE levels for tomorrow are
5520/26
5478 - previous high
5371 - previous low
5365
5301/08
5280
I have been doing a lot of thinking the last few days about if I still hold out on the view that markets have to put in lower lows due to the fundamentals. I wonder if there is a shift in thinking with the large institutions about how they view fundamentals now.. I will post some thoughts on this over the next week or two.
SuddenDeath
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FTSE cash should hit 5532 today according to spreadbetters
SuddenDeath
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FTSE cash 5532 there she goes
Dick Lexic
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