Anyone scalping the FTSE Futures??

jungerns said:
Dick I got crucified some time ago for using terminolgy that didn't correspond to the norm (apparently) although I knew what I meant..........

If you are asking at what expense to myself re those tips than the answer is zero for reasons that I mentioned once before....

I have never had a losing trade from them, although I have certainly had overnight financing costs as some have been held for several weeks (to get that winner)

I would be utterly certain that they dont hold trades in the way I do/have done !!
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i was meaning average move away (drawdown) from your entry ....so you enter a trade and it goes against you by say 100 points you stay in then moves in you direction to giva a good profit...some people can except over 100 point i get upset with 10:LOL:
 
I'm getting upset with 4 right now. I've been 'in' a bear trade at 5797 for 1 hour and 10 min so far. 5 point range.
 
On the higher charts it looks like it's bullish so I could be wrong. Very bullish actually. I'm using 1 min chart. Really thought there was a bear move*. Confused.

* more than 1 points worth.
 
Dick Lexic said:
i was meaning average move away (drawdown) from your entry ....so you enter a trade and it goes against you by say 100 points you stay in then moves in you direction to giva a good profit...some people can except over 100 point i get upset with 10:LOL:
Click to expand...

Ah ok lol..........
To me a tight stop is 50 but nearly always open with a Stop at 100......

I will only scalp in one direction of what I believe is the overall trend. I'll very happily take 5 10 or 15 points but am happy to let that scalp turn into a longer term trade.

I really break all the rules of trading and routinely will move them to 400. I dont say that flippantly only honestly. I have been caned in particular on Tradefair where I dropped £6500 last summer over a short few days...........

Perversely I am pleased I did get caned because it really woke me up to the fact that a few trades can wipe you out.

What that did if nothing else is concentrated on what I'm best at namely Indices where 98% of that time since have stayed.

I hope that all makes sense !!
 
+14 points, for me, but snatching profits as soon as they appeared. 7 trades and the best profit was 6!. One trade lost me 3 points.
 
jungerns said:
Ah ok lol..........
To me a tight stop is 50 but nearly always open with a Stop at 100......

I will only scalp in one direction of what I believe is the overall trend. I'll very happily take 5 10 or 15 points but am happy to let that scalp turn into a longer term trade.

I really break all the rules of trading and routinely will move them to 400. I dont say that flippantly only honestly. I have been caned in particular on Tradefair where I dropped £6500 last summer over a short few days...........

Perversely I am pleased I did get caned because it really woke me up to the fact that a few trades can wipe you out.

What that did if nothing else is concentrated on what I'm best at namely Indices where 98% of that time since have stayed.

I hope that all makes sense !!
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blimey £6500 ..i take it your single:LOL:
 
Yay, it dropped slightly.

Dick Lexic said:
net loss for me today ...2 trades but such a tight range
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After 11 it was pretty much impossible on any timeframe other than 1 min. Sometimes 1 min has advantages because gaps are more frequent - and gaps show S/R levels and breakouts.

Using stop of 6 point:

+ 40 in the morning
-/+ ? after 12. I got a bit confused and stayed 'out'.
+ 30 since 3:30
+ this bear move

-/+ £0 because I'm not trading.

Here was my basic strategy.

When price hits new high/low it retraces to an S/R level in the trend and rebounds. If there is no obvious S/R level in the pullback then it will reach new high/low until it finds one - presumably because if traders don't observe any roadblocks to the trend they will keep entering with the trend. Eventually the price reverses through an S/R level and continues until it reaches the next S/R level and then rebounds. How far it rebounds depends on whether there are obvious S/R levels in the pullback. Sometimes it can rebound over 100% AFTER it has broken an S/R level for a reverse. Also zig-zag does not tell you what the trend is.

There's even more to it than that.

If this was easy or always 100% to textbook I'd be doing it right now for money. I'm getting better at it though.

Don't know how far this current bear move will go, though it did break range lower. switching off now though.
 
Dick Lexic said:
blimey £6500 ..i take it your single:LOL:
Click to expand...

No far from it. At the time I was in Buriram in North East Thailand for 2 months at my wifes family home................
It was at the time in August when Markets were tumbling as the States were on the verge of running out of money..........
Chasing losses (we all learn the hard way) I remember sitting in an Expat bar called the Irish Bar in Buriram (google it) and ringing Tradefair dealers and asking for Bid/offer on the Dax to be told a number that had just plunged me another £1400 down in a couple hours..............(I was moving stops with no thought at all)
I turned around and rang the Bell that all Thai Bars have to signal the ringer is buying beers/drinks for all inside the bar, and thinking it might be a while before I'm back here !!
 
barjon said:
mmm, closed too early 'nother 15 ftse points in it atm - hope you did better, solo
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I'm +27 atm but still loads left in this, going to hold it over the weekend and look to close on Monday morning I think, if Dow tanks on Monday I'll smash it :D
 
The stop has taken me out on the Sterling trade so will review it on the basis of opening again on Sunday night or Monday morning.......

Hope all have good weekend.......
 
Soloquan said:
I'm +27 atm but still loads left in this, going to hold it over the weekend and look to close on Monday morning I think, if Dow tanks on Monday I'll smash it :D
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:LOL: I generally like to close the book Friday, but should have held since there was no back-sliding - blame the French golfers who are here with two staying with us that I had to meet earlier.

That's +27 ftse points difference is it? = +54 with the double stake
 
Soloquan said:
I'm +27 atm but still loads left in this, going to hold it over the weekend and look to close on Monday morning I think, if Dow tanks on Monday I'll smash it :D
Click to expand...

Closed long asx/short ftse +20, just stalled cant see any change at the open on Monday.
Do you use excel for the calculations.
Worth having look at DAX/DOW, very interesting.
 
[QUOTE=SuddenDeath;



USA is a mature economy after 100 years of growth.

World priceing needs to move from USD, even go to EUR.

Weekend currency rates are flat.

China CPI and IP on Sunday and Japan data on Monday may gets us moving.
 
Last edited:
Hi,

I would like some assistance in trading the FTSE and DOW futures. I am new to the market of FOREX and futures trading. Where do i start from with the instrument such as Bollinger Band, SMA, MACD, RSI and so on...
 
Tempted said:
Hi,

I would like some assistance in trading the FTSE and DOW futures. I am new to the market of FOREX and futures trading. Where do i start from with the instrument such as Bollinger Band, SMA, MACD, RSI and so on...
Click to expand...

A start would be Jack D. Schwager's " Technical Analysis" He examines just about everything there is in the way of indicators and it is a book full of charts. You'll find him on You Tube, too.

However, he is fairly sceptical on the benefit of indicators, contenting himself with explaining how they work and letting the reader decide whether to use them, or not.

I use Bollingers and averages because they give me some perspective on the price, itself, but a lot of this depends on the trader's own approach to trading.
 
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