Anyone scalping the FTSE Futures??

DaddyJohn said:
Martin, as you know I have moved from scalping to position/ swing trading.. Because this is a big change for me I decided to deleverage and come off futures for a while until I was confident I had mentally adjusted. I am therefore using a SB platform and trade the FTSE 100 rolling ..... I have found it surprisingly good.. I still use the futures charts for Trade planning and then adjust for orders by looking at the delta between cash and futures... (can sometimes be a pain..but am coping)

Results so far are encouraging .. With. 5 pc profit so far this month.. And no platform or commission costs...and much greater flexibility for taking profits in stages..or removing a potion of position to derisk if you begin to worry you may have got it wrong.
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John - keep up the good work on the swing/position trading front. Spreadbetting makes a lot of sense for longer term trading. I may start doing some longer term trades too and see if they work out, especially for 161.8% extensions. For now I am still very much a scalper/short termer, and I like the futures trading platform, especially the Open ECry platform I use. No data feed charges and any market I could want to trade.
 
Dick Lexic said:
getting close to sp 1300 cash
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The ES came within two ticks of the 127% extension (1hr chart) and pulled back, but the big one, 161.8%, is at 1299.88. Will it get there? Or will the selling just prior to it be too strong?

1304 is the top of the channel and also an exact ABCD extension. I guess it depends on the retail sales numbers at 1:30pm and the ECB press conference.

The FESX is up 2% right now and it may need to pull back a bit before more up. The ES is up only 0.58% so could up a lot more. The FTSE is up only 0.63% and if it weren't for Tescos would be up much more.
 
MartinC-J said:
The ES came within two ticks of the 127% extension (1hr chart) and pulled back, but the big one, 161.8%, is at 1299.88. Will it get there? Or will the selling just prior to it be too strong?

1304 is the top of the channel and also an exact ABCD extension. I guess it depends on the retail sales numbers at 1:30pm and the ECB press conference.

The FESX is up 2% right now and it may need to pull back a bit before more up. The ES is up only 0.58% so could up a lot more. The FTSE is up only 0.63% and if it weren't for Tescos would be up much more.
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you got no faith in buzz?
 
barjon said:
phew - like watching paint dry. Gonna take a break so hedged with dow @ 12494 in case. Not sure that's a good idea since ftse seems very reluctant. Still we'll see.
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barjon, i think it's better to hedge with euro

euro has more downside bias fundementally
 
Going in to the evening session, need to watch for a move above 5637 on FTSE futures.

The market did not seem to like the retail and unemployment data out of the US.

The lower channel has been breached on the 1 hour chart for both the ES and the FTSE. A close below 1279.25 on the ES would give us an outside bar and it would be quite bearish.

I am not sure the up move is done yet and it needs to make an effort to get to 1300. Looking at tomorrows data we've got prelim U of Mich which should be a good number, so maybe one last push tomorrow, but it does look like it is forming a top.

I don't think it will be a big sell off yet until we get some earnings reports. We have JPM tomorrow around noon, Wells and Citi on tuesday, GS and BoNy on wed, BoA on thurs.
 
barjon said:
phew - like watching paint dry. Gonna take a break so hedged with dow @ 12494 in case. Not sure that's a good idea since ftse seems very reluctant. Still we'll see.
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just back and closed off:

ftse 5674 for -13 x 2 = -26
dow 12437 for + 57 x 1 = +57

net = + 31
 
Dick Lexic said:
"buzz lightyear to starship command i have encountered strong resistance "

"roger buzz try to hold sector 86 i repeat sector 86 over"

"roger" ......just a wee bit of fun :)
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"buzz lightyear to starship command sector secured over and out"

lets hear it for the buzz :clap::clap::clap::clap::clap:
 
Dick Lexic said:
nice trade:)
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er, thanks dick (and fletch). The original ftse long wasn't much cop though - never showed much upside - but the net result of the hedge worked out ok and demonstrates what I've been chatting about here off and on. ie: you don't necessarily have to be right about direction if the relative (ftse/dow) price action supports a hedge.
 
barjon said:
er, thanks dick (and fletch). The original ftse long wasn't much cop though - never showed much upside - but the net result of the hedge worked out ok and demonstrates what I've been chatting about here off and on. ie: you don't necessarily have to be right about direction if the relative (ftse/dow) price action supports a hedge.
Click to expand...

Nice trade Barjon. Do you sometimes use the method before a data release where it would not be possible to use a stop due to slippage?

As the US data really helped you out yesterday with the DOW tanking.
 
Last edited:
i got targets up to 5750 cash but i'm cautious with that volume
1 it was selling
2 it's what wee need for the big push through
3 it was my aunty mary selling her tsb shares
hmmm
 
Dick Lexic said:
a big volume day yesterday...
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Interesting. It picked up a bit on the Cash Index and was above its month average, but still well below its 6 month average.

Things have definitely settled down and the VIX is back down to July levels.

I see Buzz was working the night shift.
 
reksa said:
Interesting. It picked up a bit on the Cash Index and was above its month average, but still well below its 6 month average.

Things have definitely settled down and the VIX is back down to July levels.

I see Buzz was working the night shift.
Click to expand...

i know the volume on the cash weekly seemed to be a bit odd but if it was correct you still think it was average?
 
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