Spreading FTSE PNF Style

JonnyT

Senior member
2,560 22
Hi folks,

Here are todays mechanical trades on the FTSE using PnF via Deal4free.

The net result, 3 trades 28 points profit. This is an average day.

These results can easily be improved upon :)

Today trading the futures didn't give the third signal so the results from futures trades were not as good. This is because the Deal4Free cash price did and does move more than the futures at times. What did I hear you say?....Bias....no never ;)

JonnyT
 

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tykoon

Junior member
24 0
When do you mark the x or o, is it on the close of the bar, using the 1 min. chart? What box size and reversal amount would you recommend trying on the Dow?

Thanks for the informative posts.
 

JonnyT

Senior member
2,560 22
The O's and X's are marked as they happen. i.e. Not on the close of the bar.

As for the Dow, you will have to give it a go yourself as this is one index I have not tried to work on.

Please remember to use Futures data as the cash values will give completely different charts.

JonnyT
 

Dr Mike

Member
92 1
Hi Jonny

Managed 66 gross in 3 trades today, our charts look comparable but seems like one of the few days when my tighter stops were advantageous, - negligible whipsawing. - I was almost going to reverse my first trade as you did but didn't feel confident enough so took the profit when the reverse occured and re-entered after the breakout.

Like you said the FTSE seems to offer one main trade in the morning and another after NY opens.

Cheers
 

Henry

Active member
177 2
What was the basis of the first and third entries? I thought you were using reversals from double tops / bottoms, so are these examples of the descending tops you mentioned?

Good posts, cheers.

H.
 

JonnyT

Senior member
2,560 22
Hi Henry,

Today presented no double tops or bottoms but did present a descending top on two occaisons. The first trade was reversed after resistance went.

Hi Mike,

The drinks are on you then...

JonnyT
 

Dr Mike

Member
92 1
Hi Henry

Here's my chart for today. I entered on plain breakouts/breakdowns and closed as soon as the 3 box reversal occured.

I found it very strange today, the index seemed to go at a very leisurely pace with no false breakout's or breakdowns.

Jonny gladly buy you a pint when we meet. If you hadn't stuck that comparison chart up I wouldn't have started down this road.


Cheers
 

Attachments

ianp

Active member
179 7
Hi, Jonnyt

I am trading ftse futures via easy2 trade, I have been trading a
mechanical system based on bar patterns, I have looked at
p&f charts on sierra , but find them to hard to read, can you let
me know how you get d4free data onto excel ?
is there a program you can buy

thanks ian
 

JonnyT

Senior member
2,560 22
Hi Ian,

Its called use thy fingers!

Seriously its easy, just open an account with Deal4Free and use there supplied charts for FTSE Cash and manually do the work in Excel.

I know some serious FTSE traders who use PnF just like this every day.

JonnyT
 

Fluke

Well-known member
456 1
Hi JonnyT
Your thread dated 13/2/03, you said you are paper trading.

Are you now trading for real.
 

ianp

Active member
179 7
Thanks Jonny,

I have a d4free sb account,

I tend not to use there charts as I don't trust there data and
they seem a bit "spikey" at times.

if you have a my-track feed have you tried ukz-l ?

I don't know if cmc skew ftse cash but I wouldn't be surprised.

In p&f charts a 3 x 3 chart , is that 3x 1 min boxes changing
direction to indicate a reversal ?

I am wondering how to plot on excel

thanks ian
 

JonnyT

Senior member
2,560 22
Hi Ian,

I have MyTrack and use LZ the FTSE Future. The actual index doesn't reflect the futures or Deal4Frees prices so may not get you into or out of trades timely.

JonnyT
 

ianp

Active member
179 7
good point jonny,

are you planning to trade direct to market
or are you sticking to sb, I am only asking as I find you can
often get inside the spreads using direct limit orders ,
it also helps when your wrong to get out with a smaller loss..


ian
 

JonnyT

Senior member
2,560 22
Hi Ian,

You cannot trade meaningfully with Spreadbets. £20 per point is really the max before they won't deal with you equally.

I'm in the process of setting up a Limited Company to do 'size' with futures.

JonnyT
 

GreyingSurfer

Active member
173 0
JonnyT said:
The first trade was reversed after resistance went.
Hi, JT, Mike.

Very interesting stuff, thanks for sharing it with us, and I'm glad it seems to be working for you.

I was wondering, JT, what you are using as defining "resistance going". On yesterday's chart the reversal coincided with a double top break, is that a signal you frequently use for resistance? I assume you would not open an initial trade on a double break? I.e., if you hadn't already been short before the break at 3657 you would not have used that as an entry? But had you been long already at that point you might have used it as a reversal signal?
 
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