Anyone scalping the FTSE Futures??

Good morning.

FTSE has been trading in about a 130 point range for over 6 weeks and has not spent a full day out of the range 6247-6384 for this time. Have shorted a few times at around about 6370-6380 and made nearly a 100 points in total. If FTSE reaches over 6375 will go short again at minimum IG stake and will add if goes over 6400.

Probably all depends on Wall Street.

Ian
 
ianhey said:
Good morning.

FTSE has been trading in about a 130 point range for over 6 weeks and has not spent a full day out of the range 6247-6384 for this time. Have shorted a few times at around about 6370-6380 and made nearly a 100 points in total. If FTSE reaches over 6375 will go short again at minimum IG stake and will add if goes over 6400.

Probably all depends on Wall Street.

Ian
Click to expand...

Martingale MR?

Agree on the bracket extremes, but i would want to see some sellers respond to that level before i committed....(y)

CanOz
 
canaussieuck said:
Martingale MR?

Agree on the bracket extremes, but i would want to see some sellers respond to that level before i committed....(y)

CanOz
Click to expand...

CanOZ

Thanks for your reply.

I have found scaling into positions to work well much of the time. For instance I bought Morrisons ( real shares) at 269 and added at 250 and am now virtually at break even. I would not however chase a loss more than once.

Ian
 
ianhey said:
CanOZ

Thanks for your reply.

I have found scaling into positions to work well much of the time. For instance I bought Morrisons ( real shares) at 269 and added at 250 and am now virtually at break even. I would not however chase a loss more than once.

Ian
Click to expand...

I have a mate that uses a similar way to scale into Mean Reversion. It works well for his FX systems.

Many traders from Prop firms also use a similar discretionary method i reckon, but they've got deeper pocket than me!



CanOz
 
Seeing as the board is so quiet I will post again. I noticed there seemed to be support on the short time scale charts at about 6340 so went long at 6346. Currently up 4 points. Gone off strategy which was to short at 6375 but that is still there for the future.

Ian
 
Long FTSE from 6346 closed for 9 points. Had enough for today. Still got a long on the DOW running with a stop close behind so will forget this for today.

Ian
 
dxy h1
watch that new trend that started last thursday/green line
dvsh0w.gif
 
Closed my DOW long for about 35 points.

Gone short FTSE at 6353.

That's it for today

Good bye everyone Ian
 
So today is the day we hit all time high on the DOW. Then question is.. when do we stop and start the selling.
 
Good morning all.

Short trade from yesterday at 6353 off 43 points. Poor trade as plan was short at 6375+ but too impatient.

Only minimum stake at IG, was off 50 points at one time. Ian
 
samspade79 said:
So today is the day we hit all time high on the DOW. Then question is.. when do we stop and start the selling.
Click to expand...

Probably bust through it to take out some stops then come back under, if you can short an all time high in a market when can you !
 
Just closed all my long positions, not risking the profit on my long term holds at these levels. Good luck to the rest of you. I'm out until or if the market drops.
 
ftse not much liking this much - being dragged up kicking and screaming as dow hurtles into the wide bue yonder. I've just paired it long ftse/short dow.
 
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