Anyone scalping the FTSE Futures??

[MartinC-J]

Problem is that the value area is not usually a SR level.
I used to do something where I would short yesterday's value high range with a SL at the 100% but often price would just move up past the value high to test the resistance anyway.
Hence, why I still predominantly use SR to take the trade from.

Good post. I still think the market pays more attention to S/R levels, but at least MP alerts you of areas you should be cautious.

 

[fletchie]

we are stuck around the 95 line

seems lost at the moment but looks like should weaken again ( although dj and dc have me thinking about that)

f

 

[DaddyJohn]

Hi DJ
Price comes from tuesday 14th the failed pattern for the thursday left a target which was also given from late monday this week this is a monthly target

right now we have a failed pattern from the 14th turning into an inverse trend and an inverse trend this week
now we should get a new target set from next monday for the december SS (Im expecting 5600 area) this would be typified by an early dip then buying most of the day, tuesday gets a negative gap then low to within 20 points of FTSE monday low, this would then take us into december monthly after the 9th which is a SS month so we get low in to year end ready for a nice bullish start to 2012

shorter timeframe as Ive said I expect 4930, unless by some miracle FTSE treads water and DOW hits its target, and could live with 4920s but wouldnt want to see below 4905

Thanks DC.. do you mean the 15th? which was the Tuesday.. this I think was a BUY day .. but I thought the definition of a failed pattern was if the SS day did not make it to or above the Buy day low .. but it did make it to this level on the Thursday.

 

[fletchie]

What is SS?

I keep reading it and images of stormtroopers flash through my mind

sorry for the ignorance

f

 

[DaddyJohn]

What is SS?

I keep reading it and images of stormtroopers flash through my mind

sorry for the ignorance

f

Fletchie

SS stands for Short Sale day.. it is from the Taylor Trading method.. if you need to know more then you need to read up from papers/ books etc.. dont trade using these recommendations until you know a lot more, as the terminology can be counter intuitive and put you into losing trades if you are not aware.

cheers:|

 

[fletchie]

thanks dj

i only trade off SR lines and also 123 setups using 5 minute and 1 minute charts

I just enjoy the studying and learning and trying to fathom out what others are doing - bit boring really but I find it all interesting

cheers f

f

 

[dc2000]

Thanks DC.. do you mean the 15th? which was the Tuesday.. this I think was a BUY day .. but I thought the definition of a failed pattern was if the SS day did not make it to or above the Buy day low .. but it did make it to this level on the Thursday.

Hi DJ
oops yes the 15th
the SS should have produced a high above wednesdays high so if left a hole at 5583

now if we fast forward to today the low seems almost a round number from the hole its just tooo good I bought on second dip @86 and will hold to end of day on this one every thing else is waiting for the 5426

currently debating on trading intraday only from next month or at least just doing first half of week

 

[DaddyJohn]

Hi DJ
oops yes the 15th
the SS should have produced a high above wednesdays high so if left a hole at 5583

now if we fast forward to today the low seems almost a round number from the hole its just tooo good I bought on second dip @86 and will hold to end of day on this one every thing else is waiting for the 5426

currently debating on trading intraday only from next month or at least just doing first half of week

Thanks DC.. it is interesting that as you are moving more to intraday ,, I am moving more away from it .. ha ha..

actually I have cancelled my license for Stellar as I have done with scalping for 5-10 prices a time.. my plan next month is to use my Pro=spreads account (DMA) feed for trading intraday large swings off my levels as and when the right trade comes up.. but using my Capital Spreads account to take weekly / monthly positions..

 

[orangetrader]

With regards to mp, i guess its a question of whether you trade the actual method or use it as a tool to highlight areas where high volumes of trade took place i.e. price magnets. I dont trade the method but if you did i imagine that you would need to trade it consistently to get a positive expectation. I use a similar tool to mp which basically highlights areas which are likely to become price magnets. I trade the chart so i am looking for a pattern before i enter a trade ie i wouldn't short just because we have arrived at a va extreme, i would look for a reversal signal first. Not saying theres anything wrong with entering a trade without chart confirmation or there isnt an edge but that isnt my method thats all.

 

[reksa]

Thanks DC.. it is interesting that as you are moving more to intraday ,, I am moving more away from it .. ha ha..

actually I have cancelled my license for Stellar as I have done with scalping for 5-10 prices a time.. my plan next month is to use my Pro=spreads account (DMA) feed for trading intraday large swings off my levels as and when the right trade comes up.. but using my Capital Spreads account to take weekly / monthly positions..

So you have a Capital Spreads. Is the Squawk a white label version of the full non delayed Ransquawk. Also does it include all tech sheets?
Appreciate if you could let me know, might save me some money.

 

[dc2000]

Thanks DC.. it is interesting that as you are moving more to intraday ,, I am moving more away from it .. ha ha..

actually I have cancelled my license for Stellar as I have done with scalping for 5-10 prices a time.. my plan next month is to use my Pro=spreads account (DMA) feed for trading intraday large swings off my levels as and when the right trade comes up.. but using my Capital Spreads account to take weekly / monthly positions..

I wouldnt say Im moving anywhere near yours or martins quick scalps but in the general scheme of things 30 to 50 point moves would be ok today for example I could have had an easy 30 or a 30 and 20 points but currently waiting for 5150

It will be interesting to see how you fair with the spreadbeters I was looking the other week and noted that just as I thought they may be worth a look citys platform went down for the day but then I always think like that as the 31stJan looms

 

[Splitlink]

I wouldnt say Im moving anywhere near yours or martins quick scalps but in the general scheme of things 30 to 50 point moves would be ok today for example I could have had an easy 30 or a 30 and 20 points but currently waiting for 5150

It will be interesting to see how you fair with the spreadbeters I was looking the other week and noted that just as I thought they may be worth a look citys platform went down for the day but then I always think like that as the 31stJan looms

City Index, I don't know, but Financial Spreads gave me good, instant service yesterday and this morning. I went for a four point profit this morning, which is scalping, to be sure, and had an instant fill. If you must know I lost a small packet with the Dax but, when I decided to cut it, it was instant.

 

[DaddyJohn]

I wouldnt say Im moving anywhere near yours or martins quick scalps but in the general scheme of things 30 to 50 point moves would be ok today for example I could have had an easy 30 or a 30 and 20 points but currently waiting for 5150

It will be interesting to see how you fair with the spreadbeters I was looking the other week and noted that just as I thought they may be worth a look citys platform went down for the day but then I always think like that as the 31stJan looms

I was with City and the platform was always crashing.. I am not with then antmore

 

[DaddyJohn]

So you have a Capital Spreads. Is the Squawk a white label version of the full non delayed Ransquawk. Also does it include all tech sheets?
Appreciate if you could let me know, might save me some money.

seems to be

 

[DaddyJohn]

Hi DJ
oops yes the 15th
the SS should have produced a high above wednesdays high so if left a hole at 5583

now if we fast forward to today the low seems almost a round number from the hole its just tooo good I bought on second dip @86 and will hold to end of day on this one every thing else is waiting for the 5426

currently debating on trading intraday only from next month or at least just doing first half of week

Ok.. you are telling me something now that had not occurred to me before.. which is that the SS day ought to put in a price above the Z day.. if it does not , then it leaves some unfinished business at that level which has to be completed at sometime in the month.

 

[dc2000]

Hmm FTSE getting close to 150s target a little early I may hold this one, a run on low volume

the next target would be 226

 

[dc2000]

Ok.. you are telling me something now that had not occurred to me before.. which is that the SS day ought to put in a price above the Z day.. if it does not , then it leaves some unfinished business at that level which has to be completed at sometime in the month.

it can go below the high but thats if the sell day gives 2 exits

for instance we are now on a rocket ship buy day (226 next target then 426) with sell day monday SS on tuesday which should break mondays high without breaking low first for a 2nd bite of cherry

if we get 2 exits monday then tuesday would gap down and fall like a stone 3.8%

 

[dc2000]

getting into the end zone for my daytrade 5205 area will do Im thinking if its after 3:30

 

[DaddyJohn]

it can go below the high but thats if the sell day gives 2 exits

for instance we are now on a rocket ship buy day (226 next target then 426) with sell day monday SS on tuesday which should break mondays high without breaking low first for a 2nd bite of cherry

if we get 2 exits monday then tuesday would gap down and fall like a stone 3.8%

bloody hell, I feel like Obi Wan Kenobi talking to Yoda...

"2 exits you say they are.. if sell day they do fall on " but what you mean by exits? do you mean exit is average rally from buy day low?

may the force be with you

 

[DaddyJohn]

getting into the end zone for my daytrade 5205 area will do Im thinking if its after 3:30

I got out and went short at 5195 - ES was top of yesterdays value area