Anyone scalping the FTSE Futures??

[Dick Lexic]

I didn't trade it, so still up 37.5 pts.

I left my computer to cook up some lunch and assumed it would be dead until 2:30pm. Then for some reason it fell out of bed at 12:59pm on some volume. Can't tell if it is down to Merkel's comments or the Fed's Evans or Fitch saying France needs further structural reforms. Fact is we went through the 5223.5 level and bounced off my next level down which was at 5203.0. That should now make the range between those two levels, but let's see if the yanks can force this up in the pm. My guess is no, but let's see what happens.

Hi Martin, I meant are you still trding 30+ times per day?

 

[dc2000]

cool move but didnt have no one fooled my guess ya all filled up @439 right

 

[MartinC-J]

Hi Martin, I meant are you still trding 30+ times per day?

As I type I am at 36 trades for the day and +47 pts. That's still too many trades and not a great average return per trade. I pay £1.80 per round trip per contract. Biggest winner 18 pts, biggest loser 5 pts. And lots of noise trades that were crap on my behalf.

 

[dc2000]

Hows it goin hank
I want in
what price
I want yesterdays price
No problem

 

[dc2000]

As I type I am at 36 trades for the day and +47 pts. That's still too many trades and not a great average return per trade. I pay £1.80 per round trip per contract. Biggest winner 18 pts, biggest loser 5 pts. And lots of noise trades that were crap on my behalf.

36 trades wow
if I do 5 in a day its hard work

 

[MartinC-J]

dc - I think that's because you have bigger cojones than me, and a much better system at spotting bigger targets. I tend to have price levels that average about 20 pts apart, and quite often I don't enter until half of that range has been used up!

 

[piggybridges]

As I type I am at 36 trades for the day and +47 pts. That's still too many trades and not a great average return per trade. I pay £1.80 per round trip per contract. Biggest winner 18 pts, biggest loser 5 pts. And lots of noise trades that were crap on my behalf.

I personally think its quite impressive.
I know it might seem way to frantic and busy for some, but when someone is able to end the day positve after lots of trades each day, it tend to think that they have a definite, robust 'edge' (i hate that term).
If I just took 1 or 2 swing trades per month and had been making money for a year or so, i'd personally always feel a bit uneasy, wondering whether there was any statistical significance in my results and how much of it was down to luck.

Still, that' just my personal opinion, and dont forget that im a newbie.

Nice day so far for me, though:

Up 7.25 ES points (70 odd pips)

 

[MartinC-J]

Well done piggyB. As for me, one day, I will settle down and keep it below 20 trades in a day!

 

[dc2000]

dc - I think that's because you have bigger cojones than me, and a much better system at spotting bigger targets. I tend to have price levels that average about 20 pts apart, and quite often I don't enter until half of that range has been used up!

it maybe just the Florida air and riding on golfcarts thats got me in the slow lane

I may have to change though Im expecting to see more narrow range days over the next few months for now though both the FTSE and DOW in the zone. the FTSE signaling a three day down from early doors tomorrow the DOW should confirm this with an afternoon fall.

 

[Dick Lexic]

As I type I am at 36 trades for the day and +47 pts. That's still too many trades and not a great average return per trade. I pay £1.80 per round trip per contract. Biggest winner 18 pts, biggest loser 5 pts. And lots of noise trades that were crap on my behalf.

Martin, why is it to many trades? you are achieving great results in a very small time frame. Some traders who make the mega points might have to wait hours/days and have some big drawdowns before they finally reach target. You on the other hand just nip in and out and get to finish early! or am I missing something?

cojones never heard that before..i got to get out more

 

[Dick Lexic]

and just for fun you would be long here @218

holding into 3:30pm

dc, you should write a book

 

[dc2000]

dc, you should write a book

is that a tongue in cheek reference

 

[Dick Lexic]

is that a tongue in cheek reference

what makes you think that?

 

[dc2000]

Book

I see FTSE doing its thing after hours DOW about to produce a new target

 

[Dick Lexic]

is that a tongue in cheek reference

i am being serious dc i do believe you have the trading edge and if you write a book 200,000 + on here would buy just for starters!

so do the maths

 

[dc2000]

Nah not my thing realy

 

[dc2000]

Right then short term FTSE I have three day down starting tomorrow I dont have target yet will need price in morning

The DOW has produced target for September of 10605 assuming no higher price than 11738 tomorrow

 

[MartinC-J]

it maybe just the Florida air and riding on golfcarts thats got me in the slow lane

I may have to change though Im expecting to see more narrow range days over the next few months for now though both the FTSE and DOW in the zone. the FTSE signaling a three day down from early doors tomorrow the DOW should confirm this with an afternoon fall.

I once built a spec house on Sanibel. One of the most enjoyable projects I've ever done & I lost $15,000 on it! But I loved being there. I remember sitting painting at 6 in the morning watching an Osprey eats its breakfast on the house roof next door. Then walking a few yards to the beach to have a coffee and seeing dolphins playing in the surf. If you love wildlife, Florida takes some beating.

 

[MartinC-J]

Martin, why is it to many trades? you are achieving great results in a very small time frame. Some traders who make the mega points might have to wait hours/days and have some big drawdowns before they finally reach target. You on the other hand just nip in and out and get to finish early! or am I missing something?

cojones never heard that before..i got to get out more

I still do too many trades, and get out of a lot of moves way too early. But equally I don't get stopped out many times either. I did 12 trades by 8:42am and was up £250 before commissions of £1.80 per trade. By 11:00 am total trades were 23 and I was up £375. I didn't trade all the time, and took several 5 to 10 minute breaks as well. The hardest thing I find is to hit the ground running right at 8am, but after a few minutes it's just intuitive and I am always looking for my next number 10 bus.

 

[dc2000]

I once built a spec house on Sanibel. One of the most enjoyable projects I've ever done & I lost $15,000 on it! But I loved being there. I remember sitting painting at 6 in the morning watching an Osprey eats its breakfast on the house roof next door. Then walking a few yards to the beach to have a coffee and seeing dolphins playing in the surf. If you love wildlife, Florida takes some beating.

sounds like an idilic job apart from the 15k bit