Anyone scalping the FTSE Futures??

[dc2000]

and out of short 5439 will sit on sidelines now

 

[dc2000]

Sorry DJ, I did not understand this - how would you know the high for today until today's close? Is it a high achieved between certain points of time in the morning, such as 9 to 10am?

thanks for your help,
Mcclaine

Hi Mcclaine
There are certain days in a pattern that you can expect the high or low to be made early in session I use three timeframes 16mins 30mins and 90mins on any market

looks like jumped off to soon low 5420 area coming up

 

[dc2000]

taken a small long 5425

 

[dc2000]

exited 5426 will wait for 387 or 480s to reload short

 

[MartinC-J]

Martin.. DCs figures are based on tomorrow... so high today on cash was 5544. so 0.4% below this is the 5520 level for shorting tomorrow . the long is based on an assumed close for today .. but we will have to wait for this.

Thanks John. I really have to get off my a*se and do the work on Talyor and LBR before I make a bigger fool of myself.

 

[dc2000]

taken long 5414 its close enough for me target 60 points

back latta

 

[DaddyJohn]

this has gone a lot further down than I expected .. I suspect we might test 5371 .. in which case I will look for confirmation to buy

 

[DaddyJohn]

Thanks John. I really have to get off my a*se and do the work on Talyor and LBR before I make a bigger fool of myself.

the way that I work the Taylor method is that today was a buy day.. what that means is that the market is trying to find a level from which to buy and put in a positive rally.. therefore as I said in my post last night.. I was hoping for a push higher on fridays momentum.. then take a short.. because this means the high has been made first and then the market has to sell off to give it a low to buy from. Subsequent sell day and short sell day .. will look to then put in highs from which to sell from.. however... the market can always test todays low tomorrow and decide it wants to buy lower.

 

[DaddyJohn]

long 5392

 

[DaddyJohn]

long 5392

out 5402

now that's a scalp

 

[mcclaine]

out 5402

now that's a scalp

Indeed!

 

[mcclaine]

Hi Mcclaine
There are certain days in a pattern that you can expect the high or low to be made early in session I use three timeframes 16mins 30mins and 90mins on any market

looks like jumped off to soon low 5420 area coming up

thanks DC.

 

[DaddyJohn]

a lot more buying volume coming in the last 20mins - trying to get above 5400 cleanly

 

[MartinC-J]

Thanks DC and DJ. As I said I have to spend more time on this. My focus has really been on scalping strategies, but clearly there would be an advantage in having a better idea of the big picture.

This morning I was actually short the ES from Fridays close, but when it failed to sell off after an hour and a half into the UK cash market, I closed it. I don't have the patience to let long term trades develop. Maybe I have to set aside a small amount of money for long term trades and practice a little more.

 

[DaddyJohn]

Thanks DC and DJ. As I said I have to spend more time on this. My focus has really been on scalping strategies, but clearly there would be an advantage in having a better idea of the big picture.

This morning I was actually short the ES from Fridays close, but when it failed to sell off after an hour and a half into the UK cash market, I closed it. I don't have the patience to let long term trades develop. Maybe I have to set aside a small amount of money for long term trades and practice a little more.

Martin.. what I find useful about the taylor method is it helps you to think about a) where does price want to get to? b) how will it get there?

sometimes it is very obvious and you can trade with real confidence, letting the trade maybe run against you and be confident that it will be ok.. sometimes it is not quite so obvious how it wants to get to the target price.. but if you know the gneral direction then again you can trade with that direction for your scalps.

I must admit that DC is far better than me than seeing where price is trying to get to.. but I am improving.

I am heading off to a seminar tomorrow in London about using Gann analysis.. I hoping this can help me figure out a better strategy for setting targets. I will let you know how I get on.

 

[Sidekicker]

Bund futures pushing higher and higher.. German comments not good for risk this morning

They were oversold anyway. Technical resistance on the markets hit as well.

 

[dc2000]

looking to exit FTSE and short again when DOW hits 533 area

 

[DaddyJohn]

Am not around tomorrow all.. am in London going to a seminar on Gann analysis.. hope all have a good day

 

[MartinC-J]

Martin.. what I find useful about the taylor method is it helps you to think about a) where does price want to get to? b) how will it get there?

sometimes it is very obvious and you can trade with real confidence, letting the trade maybe run against you and be confident that it will be ok.. sometimes it is not quite so obvious how it wants to get to the target price.. but if you know the gneral direction then again you can trade with that direction for your scalps.

I must admit that DC is far better than me than seeing where price is trying to get to.. but I am improving.

I am heading off to a seminar tomorrow in London about using Gann analysis.. I hoping this can help me figure out a better strategy for setting targets. I will let you know how I get on.

Good luck with the Gann stuff. He's been around much longer than Taylor. I saw a seminar by Fred Stafford years ago. He knew his Gann stuff inside out, but I couldn't apply it to short term trading, so have never used it.

Lots of volume at the cash close today. Looks like someone was buying.

 

[dc2000]

exit and short 5432 DOW broke 483 target 5387