Anyone scalping the FTSE Futures??

[dc2000]

the time frame would be by 11:50

 

[dc2000]

not sure where you would be on stops would you move to B/E once points gained or use a 1:1 or 0.5:1 ratio?

 

[dc2000]

Volatility contraction time frame expansion beautiful.

a 5124 @12:50 would put us nice for a flat 5131 just before 1:30 news

 

[piggybridges]

long 1159
3 point stop

stopped -3

 

[piggybridges]

long 1154.25
3 point stop

(i will stop disrupting the thread after today, I promise! lol )

 

[ordinaryguy76]

long 1154.25
3 point stop

(i will stop disrupting the thread after today, I promise! lol )

Which trading platform do you use ?
Real money ?

 

[dc2000]

needs more work anyway back to the good stuff

looking for 059 to 289

 

[piggybridges]

long 1154.25
3 point stop

(i will stop disrupting the thread after today, I promise! lol )

stopped -3 again

 

[Dick Lexic]

week fib level at 5043 then 4967

 

[Dick Lexic]

I'm staying out til ben the plonk has regurgitated

 

[Dick Lexic]

nice bounce - finding it hard not to get in but i'm stick to my cunning plan

actually i have a feeling 4967 might just come about time will tell

anyone else?

 

[dc2000]

nice bounce - finding it hard not to get in but i'm stick to my cunning plan

actually i have a feeling 4967 might just come about time will tell

anyone else?

Eggs is eggs 5289 and 11565

 

[piggybridges]

short 1165
3point stop

 

[piggybridges]

short 1165
3point stop

out here at 1160 for +5

 

[piggybridges]

short 1165.25
6 point stop

 

[piggybridges]

short 1165.25
6 point stop

stopped -6
rough ride

Good luck, all
Off to start the weekend.

 

[dc2000]

its getting there but no fatlady yet this should keep me in biscuits for the winter

anyone remember the rules on outside range days

 

[Splitlink]

I've seen you folk quoting the Dow and SP but haven't seen Nasdaq, yet. Do you have anything against it?

How did you get on with FT Cash opened 1456 at 5060 and closed with an order at 5095. I could not get filled lower down at the price I wanted. It was really moving around! I was sorry that I had an order on that one bui was a bit nervous at getting filled on a manual close.

 

[dc2000]

lacklustre end to a good day another week and its back to low volatility

 

[DaddyJohn]

Hi, I am new to this site , and was trawling through previous posts when I saw your post. I was very pleased to read what you had to say. I have traded the ftse futures for over a year now and was amazed to see how close your approach is to mine. I have had great success with this , I hope you are still doing well.

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.