Anyone scalping the FTSE Futures??

SuddenDeath said:
"spread analyzer" :)
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(y) it's actually very very good, once I'm more comfortable with pair trading I'll have a dabble with stocks using the analyzer for sure. Probably just in a small account separate from my 'main' account as individual stocks are more 'risky' imho than indicies. Never the less looks like it could be good fun if nothing else.

Also on the site they have a live feed where any member can post a 'Pair of Interest' to other members for them to look at and trade.
 
Soloquan said:
(y) it's actually very very good, once I'm more comfortable with pair trading I'll have a dabble with stocks using the analyzer for sure. Probably just in a small account separate from my 'main' account as individual stocks are more 'risky' imho than indicies. Never the less looks like it could be good fun if nothing else.

Also on the site they have a live feed where any member can post a 'Pair of Interest' to other members for them to look at and trade.
Click to expand...


thanks again
 
I seem to be ok, now, and would have been ok all day if I had not got that 10 point stop wrong.

It looks like I will have to try to get it closer, or farther and that means more risk. The price could have easily gone much higher, giving me a bigger loss. SD said once that he used 4 poiints. I think that I will have to give it try.
 
Splitlink said:
I seem to be ok, now, and would have been ok all day if I had not got that 10 point stop wrong.

It looks like I will have to try to get it closer, or farther and that means more risk. The price could have easily gone much higher, giving me a bigger loss. SD said once that he used 4 poiints. I think that I will have to give it try.
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4pts when working the pivots, without pivots I am totally lost
 
Splitlink said:
Stop loss at 5794, which would leave me flat on the day.
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Split, do you place your S/L based on your entry criteria(on)?

For instance, when I was directional trading my entries were based on S/R levels, so I'd wait for a confirmed move above say R1 and go long and then place my S/L 10 points below, if that was hit (sometimes I'd flip the trade even before it was hit if you could ascertain that the move below S/R was confirmed) then this became an entry for a short, and so the cycle begins again until you catch a nice move.

If however, your entry criteria(on) is based on something else i.e bolly bands or MACD or something it becomes harder to find out where to place a stop without it becoming an arbitrary stop of (x) amount and you're in danger of trading the account and not the market.

Wow I'm not trying to sound like a guru here, just my 2 penneth ;)
 
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Falling orders for industrial machinery and other big-ticket items are signaling losses for U.S. stocks, according to Albert Edwards, a global strategist at Societe Generale SA.
As the CHART OF THE DAY shows, orders for capital goods other than aircraft have tended to track the Standard & Poor’s 500 Index during the past 15 years. Edwards included a similar chart in a report published yesterday.

Capital-Goods Orders Point to U.S. Stock Drop: Chart of the Day - Bloomberg
 
Soloquan said:
Split, do you place your S/L based on your entry criteria(on)?

For instance, when I was directional trading my entries were based on S/R levels, so I'd wait for a confirmed move above say R1 and go long and then place my S/L 10 points below, if that was hit (sometimes I'd flip the trade even before it was hit if you could ascertain that the move below S/R was confirmed) then this became an entry for a short, and so the cycle begins again until you catch a nice move.

If however, your entry criteria(on) is based on something else i.e bolly bands or MACD or something it becomes harder to find out where to place a stop without it becoming an arbitrary stop of (x) amount and you're in danger of trading the account and not the market.

Wow I'm not trying to sound like a guru here, just my 2 penneth ;)
Click to expand...

I'm trying a new TF for my entries (hourly) ,using a TL. When
I have decided where the entry should be I go to a 5M TF. I think that it should work but today has been tiresome, to say the least, and the SL at 10 points worked because I came back into a new short trade almost at once so I have got it all back again, now. However, it has been 3 trades and a waste of a day.

In the beginning I have used a 10 point SL, moving to b/e. The first trade would have made me money, this morning, if I had been trading the same as last week, as it went to 10 points profit. However, I moved it to b/e and got stopped. The second trade did not give me the chance to b/e, as it hardly moved iinto profit.
This, third, trade has gone 12 points, so far, having been better, and I moved the stop down to b/e again. That will cover the loss I made on the second trade, but it is looking a bit close, right now.

A bit of fine tuning needed! :)

Thanks for your interest.
 
Well, with the Dow over 13000 everybody became a prophet of a market sell off. They do not tell us when, though. Just re-iterate the articles every two weeks, until finally the markets drop, and then they come out as prophets, exclaiming I told u so :D

I just read an article that the selloff will start on Friday, following the period end of rhetorics from the Fed etc. Wish it was like that, to bet the house on it :)

Personally I think that Bernanke, will do what he can to preserve the euphoria in the markets to support O... re-election.

Nothing of course is for sure, we may have a sell-off tomorrow in order to get a good support for a rally on Friday. Just my opinion of course.
 
zorbas said:
Well, with the Dow over 13000 everybody became a prophet of a market sell off. They do not tell us when, though. Just re-iterate the articles every two weeks, until finally the markets drop, and then they come out as prophets, exclaiming I told u so :D

I just read an article that the selloff will start on Friday, following the period end of rhetorics from the Fed etc. Wish it was like that, to bet the house on it :)

Personally I think that Bernanke, will do what he can to preserve the euphoria in the markets to support O... re-election.

Nothing of course is for sure, we may have a sell-off tomorrow in order to get a good support for a rally on Friday. Just my opinion of course.
Click to expand...

I have not looked at the Dow, or any other US index all day, to-day. I am relying on chart patterns and trying to keep my losses tight--with success, although I moan a lot. The FT, on the hourly , has looked vulnerable all day, although, as you say, I have found the timing difficult and the range narrow. After 3 useless trades I am, finally, making a profit on the day, but not enough to retire on.

Perhaops, a cup of coffee for both of us?
 
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