Help on Trading FTSE Futures Intraday

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osho67

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Hi,

Could anyone please offer some advice on how best to trade FTSE Futures intraday?
Perhaps someone could elaborate on a system/approach which they feel has been successful for them ?

I often look at the FTSE Futures, place a trade based on support or resistance only to see the trade fail because YM decided to jump a different way and all those strong support/resistances I thought existed just melt away!

I need a starting point on how best to just trade FTSE Futures without referring to YM as it gets too much sometimes? Anybody have a method they would like to share ?


Many thanks
 
osho67 said:
Hi,

Could anyone please offer some advice on how best to trade FTSE Futures intraday?
Perhaps someone could elaborate on a system/approach which they feel has been successful for them ?

I often look at the FTSE Futures, place a trade based on support or resistance only to see the trade fail because YM decided to jump a different way and all those strong support/resistances I thought existed just melt away!

I need a starting point on how best to just trade FTSE Futures without referring to YM as it gets too much sometimes? Anybody have a method they would like to share ?


Many thanks
Click to expand...

Perhaps you should look at trading the ftse before 12 miday and then ignore it after the us session has started.
 
Hi,

Yes, I thought of that as well, but I find even before US market opening, the FTSE is still influenced by pre market YM making decisions just as difficult and more importantly making calculations about support/resistance almost irrelevant. I'm not saying I want to trade just on support and resistance, more of a general method that would help in trading FTSE without trying to analysis what YM is doing pre market


Thanks
 
Hi mofo

Yes, I have tried to view both charts and did try to factor in YM influence, however, I feel this is more complicated than it should be? Is there not a better way, because trying to refer to the YM chart and then switching back to FTSE just makes me confused. Ideally I would like a setup that already factors in YM movements without me having to check two charts. Yes, also I do try and not place trades on major announcements
 
Hi oshu

Could you post one of your charts. This would help us to examine what the possible solution can be!

Sunny
 
Try a strategy by selling support and buying resistance. Where would you best buy and sell in order to have probability still on your side should things not work out as you hoped?

There is good reason for what you are experiencing, but I am afraid I am honour bound to remain silent on why this is (largely because I have noted how controversial ideas are welcomed here). However you may be able to figure it out for your self if you really think long and hard about what is actually happening.
 
Hi JohnDoe

Just to check, but you said Sell at support (not Buying at support which is the typical thing to do)) and Buy at resistance (not Sell at resistance which is the typical thing to do) ?

I would be happy to hear any ideas you have and you are welcome to pm me if you feel more comfortable with this?

So do you think that selling support/buying resistance as a general approach would result in higher probability trades succeeding ? Also you are saying Sell at support/Buy at resistance but at a certain point where you can get out with minimum loss of points?
I can certainly identify with this idea, lots of times strong support/resistances which have been built up over hours suddenly melt away when YM does something else, but can you give me anymore clues?

Many Thanks
 
Hi Sunny2005,

This is not the best example of what I mean, but my charting package only retains recent data, the chart is for Friday 3rd June

From 15:30 the FTSE puts in a support and rallies 14 points in an hour, how do you capture that? That's £140 , even half of that would be good ! Now, if you were not watching YM, you might think I can buy on a dip, maybe support at 5000, nice round number there, good support perhaps and at 4998.
However, the FTSE spent approx an hour getting to 5006, in around 15 minutes it reversed all those points and fell back to 4996, 10 points. In my opinion the only reason why it didn't drop below support at 4992 was because the index closes at 17:30. Of course it looks obvious now :LOL: that 5006 was resistance, but in realtime it felt as though the FTSE was going to go higher, why did it suddenly reverse? Because YM dropped, placing a Buy trade at a dip was almost certain to fail, also, initially FTSE went higher even though YM was dropping, then FTSE reversed and look how quickly it did that, it was only by refering to the YM chart that would have made you realise the likely direction of the FTSE, but even so to reverse so quickly, how do you spot that?
 

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2 points... buying at circa 5000 is basically buying at resistance.. bad news.. it had already turned down from 5003 region which has acted as previous support/resistance..

secondly, the intraday range on the FTSE is crap at the moment, and not suited to intraday just yet... wait til we get back to the 50 point ranges as a matter of course... :)


hope this helps.

FC
 
QUOTE=osho67]Hi,

Could anyone please offer some advice on how best to trade FTSE Futures intraday?
Perhaps someone could elaborate on a system/approach which they feel has been successful for them ?

I often look at the FTSE Futures, place a trade based on support or resistance only to see the trade fail because YM decided to jump a different way and all those strong support/resistances I thought existed just melt away!

I need a starting point on how best to just trade FTSE Futures without referring to YM as it gets too much sometimes? Anybody have a method they would like to share ?


Many thanks[/QUOTE]
Look at Trend Signal. I think it's the best analysis programme on the market and cuts out a lot of the guesswork. Of course this doesn't mean that you can follow the signals slavishly. You have to use your 'nut' and follow closely the volume. I don't agree that you pack up at noon. The times to be watching closely are 8am to 9am, 10.30 to 11.30, and 3.30pm to 4.30pm. This doesn't exclude other times, but you will find the times yourself when most activity seems to take place. TradeGuider is a volume/spread analysis programme which is good, but you need to put in your own analysis signals, whereas Trend Signal incorporates these for you. Also support for Trend Signal is second to none, whereas that for TradeGuider is abysmal. Also, Trend Signal offers a free demo and does not push you to buy.
 
The last month the FTSE 100 has been closing the gap between close and opening prices. Have a look. It's down to you when you enter and what loss you will take before you close out if it goes against you.
 
Hi Osho,
There is no thing as SUPPORT / RESISTANCE. It becomes clear way after the event.To trade the FTSE FUTURES perhaps you REALLY need to look at the CASH chart as its the KING and not FUTURES.Perhaps you need to LOOK at the chart in a different way than you have been so far.I am aslo in Harrow.Do you want to link up?
Anil.
 
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