datav
Active member
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Hi,
I'm new to this board and having had a good look round I thought I'd start a thread to see if anyone is out there. Been day trading for about a year, started on he YM, tried various markets, but ended up with the FTSE for the last 6 months or so. I'm intriuged to see so many negative posts about the FTSE futures. Its a great market to trade. It is not a leading market, but that helps. There is generally plently of volatility with at least 50 points to go at most days.
Why does everyone expend so much energy trying to predict the future? Thats a mugs game. Why is everyone looking for indicators? they are irrelevant, since they are all derived from historical data. The only thing that counts is the price action.
I have learnt at a high cost, that the key to successful trading is my personal psychology and discipline in trade management, entries, and exits. All markets are the same in this repect, only the FTSE is more forgiving, less erratic and trends are more reliable.
The YM pre market or otherwise does not influence the FTSE or anything else. The YM is at the bottom of the pecking order in my experience, with the Nasdaq and or Russell 200 being number 1.
If anything does pull the FTSE it is the DAX in the am, and then the Nasdaq in the pm session. THis is a significant advantage, as it often gives me forewarning of a move.
So I'd like to put in a good word for the FTSE !
My trading strategy? using candlesticks and support and resistance levels. Nothing more. Oh and support and resistance levels ARE reliable in the FTSE. at least asmuch as any other market. Mind you, you have to watch the price all the time. This is a full time profession, not a hobby. Some people seem to think that its possible to place a trade at the beginning of the day and come back at the end to see 10K in their account with no effort. If that were really possible, if any automated system was reliable you could, in a short space of time, collect all the money in the world, literally. I suppose that its the British love of gambling that makes people think that futures trading is like horse racing. All you need is a good tipster!
I guess you can tell its a quiet day on the FTSE today. Went short at 5985 at 9 am and currently looking at 5974 at 11 am.
Love to hear from any other full time traders out there.
I'm new to this board and having had a good look round I thought I'd start a thread to see if anyone is out there. Been day trading for about a year, started on he YM, tried various markets, but ended up with the FTSE for the last 6 months or so. I'm intriuged to see so many negative posts about the FTSE futures. Its a great market to trade. It is not a leading market, but that helps. There is generally plently of volatility with at least 50 points to go at most days.
Why does everyone expend so much energy trying to predict the future? Thats a mugs game. Why is everyone looking for indicators? they are irrelevant, since they are all derived from historical data. The only thing that counts is the price action.
I have learnt at a high cost, that the key to successful trading is my personal psychology and discipline in trade management, entries, and exits. All markets are the same in this repect, only the FTSE is more forgiving, less erratic and trends are more reliable.
The YM pre market or otherwise does not influence the FTSE or anything else. The YM is at the bottom of the pecking order in my experience, with the Nasdaq and or Russell 200 being number 1.
If anything does pull the FTSE it is the DAX in the am, and then the Nasdaq in the pm session. THis is a significant advantage, as it often gives me forewarning of a move.
So I'd like to put in a good word for the FTSE !
My trading strategy? using candlesticks and support and resistance levels. Nothing more. Oh and support and resistance levels ARE reliable in the FTSE. at least asmuch as any other market. Mind you, you have to watch the price all the time. This is a full time profession, not a hobby. Some people seem to think that its possible to place a trade at the beginning of the day and come back at the end to see 10K in their account with no effort. If that were really possible, if any automated system was reliable you could, in a short space of time, collect all the money in the world, literally. I suppose that its the British love of gambling that makes people think that futures trading is like horse racing. All you need is a good tipster!
I guess you can tell its a quiet day on the FTSE today. Went short at 5985 at 9 am and currently looking at 5974 at 11 am.
Love to hear from any other full time traders out there.
