Anyone scalping the FTSE Futures??

[SuddenDeath]

US ism data being released, non manufacturing

 

[SuddenDeath]

ism data dampened animal spirits

 

[SuddenDeath]

Dow 15,000 hit at 3.24pm bst

 

[ads57]

Dow 15,000 hit at 3.24pm bst

I want to order one of your DOW 15000 baseball caps

 

[SuddenDeath]

I want to order one of your DOW 15000 baseball caps

 

[ads57]

S & P up over 20 handles. What happened to the 10 handle rule ?

 

[brewski1984]

I know it is, I was just saying it's likely to hit 15k today.

 

[SuddenDeath]

MrTopStep Opening Print Video S&P 1600+++ - YouTube

 

[Talbs!]

i need one aswell ! so much for my call of it not getting there ! time to go home me thinks !

 

[ads57]

Just out of interest is anyone long at the moment ?

 

[samspade79]

Just out of interest is anyone long at the moment ?

Short.

 

[SuddenDeath]

Just out of interest is anyone long at the moment ?

I closed my long,

as a general rule I find when the markets are surging very few people are long,

 

[SuddenDeath]

QE, Neg rates , equities to infinity ?

the answer seems to be .. Yes

 

[Talbs!]

Ha thanks SD ! Ive shorted 14980 and 15k after getting stopped at 14860 over the number ! wasnt happy when i first got stopped but god im happy i did now :cheesy:

 

[backtestdata]

We trade FTSE & ES here also.
But we don't do that many trades per day.
Around 10 trades per day.

I have been paper trading the FTSE Futures for over a year now, with occasional trades live. I would like to find other FTSE Futures Traders and compare notes.

I am consistently profitable on the Sim, averaging £400 per day allowing for commissions, but to achieve this I am doing 30+ trades per day. I trade one contract only, but add more if a trend continues. My average winner is £35 and my average loser is £20. My win/loss ratio is roughly 60% winners, 40% losers.

I am a very short term trader with most trades lasting 2 to 9 minutes.

My price targets are 6 to 10 points, depending on the price action.

My stops are usually 4.5 points if entered on a limit order, or 5 pts if on a stop order.

I use direct market access trading using the Open ECry platform. You get filled at the bid or the ask, and there is no spread to pay. Most people in the UK seem to use spreadbetting to trade the FTSE cash. They pay a minimum of 0.5 points per side in spread, which costs them £10 per trade, which makes it much harder to make a profit when you are scalping. My fees are £1.81 per trade.

As for strategy, I trade reversals, continuations, pullbacks and breakouts.

With the FTSE, a 2 point move above or below the previous 5 minute candle is significant enough to signal a change of trend most of the time.

I use support and resistance from the 60 minute and daily charts, and watch the 5 min, 1 min and 50 volume charts all the time.

As soon as a reversal is in, I look for retracements to the 38%, 50% and 61.8% levels.

I don't use pivots, but I make a rough note of where they are. They work better for swing trades, and are less accurate for scalping.

A 2 point move away from a S/R or fib level is enough for me to consider a change of trend.

I use the 5 min chart to monitor trends and the 1 minute chart to time my entries.

I watch how price action moves between upper, middle and lower boly bands on the 5 min chart, to decide my bias. This mid line is critical. Below mid bb, take short entries only. Above mid bb, take longs only, unless it bounces off a strong level. Importantly, I use an 8 period setting for bolys on the 5 min chart.

Pullbacks to the 5 EMA on the 5 min chart are good entries for a steady trending market.
Pullbacks to the 5 EMA on the 1 min chart are good entries in rapidly falling/rising markets.

I trade from 8am to 11am usually, and 2:30pm to 4:15pm, UK time. In the morning, I watch the ES and FESX for confirmation of moves by the FTSE. In the afternoon, I watch the ES for trend but trade the FTSE depending on what happens with the ES.

I am trying to reduce the number of trades I take, and cherry pick which trades to take. I also and trying to run my trades longer, but when I get 10 points up I usually close and bank the profit.

I am interested to see how many others scalp the FTSE futures like me, and if they are comfortable taking so many trades in a day. Also what set ups do they use that are successful.

 

[bustech]

every week on monday we should do a poll, and guess if the week in FTSE ends up or down. would be interesting knowing thread opinion

Me think(guess) 6,460 for week end.
Bit of a range week with 6390 low and 6,540 high.


Draghi speaks on Monday, see if he can drag us down for the start of the week.
Before the bulls save the day before the end of the week.

 

[tar]

Me think(guess) 6,460 for week end.
Bit of a range week with 6390 low and 6,540 high.


Draghi speaks on Monday, see if he can drag us down for the start of the week.
Before the bulls save the day before the end of the week.

Nice pic there

 

[SuddenDeath]

every week on monday we should do a poll, and guess if the week in FTSE ends up or down. would be interesting knowing thread opinion

Me think(guess) 6,460 for week end.
Bit of a range week with 6390 low and 6,540 high.


Draghi speaks on Monday, see if he can drag us down for the start of the week.
Before the bulls save the day before the end of the week.

Hi bustech, lets say up or down, make it simple, do u want to own it or short it?


interesting article

Explaining price movements in FX rates

Read more at: Explaining price movements in FX rates | SNB & CHF

 

[bustech]

Hi bustech, lets say up or down, make it simple, do u want to own it or short it?


interesting article

Explaining price movements in FX rates

Read more at: Explaining price movements in FX rates | SNB & CHF

Morning SD

Going to short the FTSE for the week.

BHP and RIO up strong in Aus, playing catch up after the strong movement in London on Friday.
ASX up but well off the high's.

Market feels a little negative, strong div's in the DOW and ASX for the week should help support the dips.
Could be quiet with all you UK bank holiday makers down the seaside.

 

[SuddenDeath]

morning bustech, morning everyone

SP500 20pts above buy pivot ! huge technical strength

FTSE 100pts above buy pivot

Dow cash close = FTSE 6514