Anyone scalping the FTSE Futures??

[Splitlink]

Sold FT 1725-----5335.5

 

[DaddyJohn]

Hey guys... starting to make the transistion away from scalping few prices at a time

this week..................... I stopped using 1 minute charts !!!!!!!!!!:clap:

Have gone from 1, 5 and 15 to 120, 15 and 5...............:whistling

feels goooooooooooooooddd

 

[DaddyJohn]

Hey guys... starting to make the transistion away from scalping few prices at a time

this week..................... I stopped using 1 minute charts !!!!!!!!!!:clap:

Have gone from 1, 5 and 15 to 120, 15 and 5...............:whistling

feels goooooooooooooooddd

gonna be a swinger baby!!!!!

 

[Splitlink]

1813 Closed short 5323.5 -12

Trades today: +57.5+20+21.8-20.3+12 = 91 points.

That's me for today. I hope that tomorrow is a good day, too.

Good trading all.

 

[Mornington Crescent]

Hey Daddio

welcome to the Dark side

 

[MartinC-J]

Looks like a good time to go long for 10-20 point gain here

datav - nice chart and good to see you post here, but what was your logic for the trade?

 

[MartinC-J]

Hey guys... starting to make the transistion away from scalping few prices at a time

this week..................... I stopped using 1 minute charts !!!!!!!!!!:clap:

Have gone from 1, 5 and 15 to 120, 15 and 5...............:whistling

feels goooooooooooooooddd

Well done John. It takes a lot of guts to go cold turkey and give up the 1 min chart. There's no hope for a crack head like me. Once a scalper always a scalper. Looks like you are turning the corner and becoming a king of the swingers, although I think DC still holds that title.

 

[MartinC-J]

1813 Closed short 5323.5 -12

Trades today: +57.5+20+21.8-20.3+12 = 91 points.

That's me for today. I hope that tomorrow is a good day, too.

Good trading all.

And not to forget Splitlink. Well done. Good to hear success stories from all quarters.

 

[Chalky_trader]

Sorry Chalky but I missed this one from earlier in the day. Apologies for the late response. I use Open ECry as my broker and for charts and data. I pay £1.81 per round trip per lot for the FTSE Futures. That includes all charts, data feeds, exchange fees and commissions.

I don't use spreadbetting for FTSE trading simply because the platforms do not offer trading off a ladder/DOM. And they restrict you on limit and stop order settings.

The only problem with using direct access is that it would be nice to start with smaller contract size when starting out. If it was £2 per point instead of £10 per pt, it would be easier to build up courage when live trading.

Thanks for the reply

I a having problems with my spreadbetter and looking to move on, 10 per point doesnt scare me too much on its own, i often trade up to £20 per point. However i always scale in and out in lots of 3-6pp.
Loosing that ability to take slices of profit or add to a trade in smaller stages would be difficult for me.

good luck with the trading,

Chalky

 

[dc2000]

Hey guys... starting to make the transistion away from scalping few prices at a time

this week..................... I stopped using 1 minute charts !!!!!!!!!!:clap:

Have gone from 1, 5 and 15 to 120, 15 and 5...............:whistling

feels goooooooooooooooddd

sweet dude

 

[dc2000]

40 point drop after hours on the DOW how sweet was that especially when we gap run to 655 on the morrow

 

[DaddyJohn]

Thanks for the reply

I a having problems with my spreadbetter and looking to move on, 10 per point doesnt scare me too much on its own, i often trade up to £20 per point. However i always scale in and out in lots of 3-6pp.
Loosing that ability to take slices of profit or add to a trade in smaller stages would be difficult for me.

good luck with the trading,

Chalky

Who is the spreabetter chalky ? And what probs have you had?

 

[DaddyJohn]

what a strange,strange open !! anyway levels , sorry they are late

Book

5411/22
4386
5343 - PH
5322
5269 - PL
5217
5193/97

VALUE AREAS

24 HR H=5338 L=5302
CASH H = 5331 L=5285

PREVIOUS VALUE PRICES OF NOTE
5227
5244
5253
5266

I LIKE THE FACT THAT 5266 IS SO CLOSE TO YESTERDAYS LOW OF 5269

 

[supernovered]

what a strange,strange open !! anyway levels , sorry they are late

Book

5411/22
4386
5343 - PH
5322
5269 - PL
5217
5193/97

VALUE AREAS

24 HR H=5338 L=5302
CASH H = 5331 L=5285

PREVIOUS VALUE PRICES OF NOTE
5227
5244
5253
5266

I LIKE THE FACT THAT 5266 IS SO CLOSE TO YESTERDAYS LOW OF 5269

Thanks for posting these DJ - very much appreciated

 

[DaddyJohn]

Thanks for posting these DJ - very much appreciated

no problem..

anyone else get that nice scalp .. price was squeezing into the lows of yesterdays 24 hour vlaue area.. just as ES came up to hit a short term trend line.. I got short 5207.5 and exited at 5293.5... usually I might hold this for longer but I have to admit as being a tad unsure of the markets intent today .. I found yesterdays price reaction rewarding but left me confused as to what they want to do next and the open this morning was as strange as I have seen.. so I bagged the profit to ensure a good start for the day which is always welcome.:|

 

[jabar2]

Hi John.
Coming back to our yesterday's conversation. You took a trade yesterday just after opening. Could you tell me what TF are u using and why did you take this trade?
Cheers

 

[DaddyJohn]

Hi John.
Coming back to our yesterday's conversation. You took a trade yesterday just after opening. Could you tell me what TF are u using and why did you take this trade?
Cheers

Hi Jabar.. in terms of time frames I am trying to move right now from scalping to swinging.. but old habits die hard... I am currently using 5,15 and 120min charts..

On the open I always look for a quick low risk trade to help me get some money in the account to start the day with.. I dont get the trade every day because I am very strict as to what I am prepared to take.. From experience I know that the algos will try and make it look like the market wants to go one way when they actually intend to take it the other.. so yesterday morning was quite easy. 1) market closed on a high , so typically you would expect momentum to push up further on the open 2) there was some negative news out on france 3) I assumed the market would spoof traders in , then take it down.

Now,, this is all subjective isn't it??? so .. I am looking for a short that I can quickly see if I am wrong, so I dont lose too much money.. so on the open I waited to see if it intended to break the previous days highs.. it didnt!! I saw lots of selling in the order book.. I entered short knowing I had the previous days highs and 5314/18 as cover.. i.e some price very close by that I know if hit tells me I am wrong.. therefore exit with little damage to the account..but knowing if I am right then the risk . reward was very good.

Not very scientific I know.. just opportunistic and strict risk . reward criteria.

This kind of trade only works for those with fast DMA based execution systems with one touch trading

 

[dc2000]

what a strange,strange open !!

I couldnt agree more
its like there is an upper target to hit but the markets just want to chip away at it making higher highs each day but only just its like they dont want to hit the number until friday and be not far above the friday after which will be month end on my map

still at least you get your 1000 points

 

[jabar2]

Thank for your reply John. I'm also using 5min and also noticed that there is sometimes an opportunity on the first candle with right momentum but for me it's more like guessing so I don't take this trades yet. I'm glad it worked for u

 

[Splitlink]

I've just exited a Euro/$ trade successfully but I wonder if it as good as Footsie? I'm coming back here, for a while, at least. I'm getting a bit past trading two or three instruments. I'm quite happy with one at a time.