Anyone scalping the FTSE Futures??

postman said:
SD,

what your suggesting is a high risk high probability trade.
In order to fund buying the 320 touch it costs 50, you will need to sell 9 of the 520 touch bets (9x6=54) to cover this.
If things go well you gain 54 for selling the 520's and gain 50 for buying the 320's total 104 profit.

If things go the other way you lose 50 on the 320 and you lose 6x94=752 on the 520's total 802 loss.

Its an 8:1 risk reward ratio, it works most of the time but when it doesnt it goes horribly wrong.

The analogy is backing the favorite and laying the outsider to cover the cost in a horse race.

Postman.
Click to expand...

the odds change as the price changes, at 435, buying the 320 and selling the 520 cost the same. bid to offer,
 
Hoping for NQ to catch up with the rest ...
 
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Taken half off for plus 10, stop to entry and trailing stop set in place, I feel a beer or 2 coming on soon :cheers::drunk: :cheesy:

I jumped the gun on the entry, my entry criteria wasn't full completed, so stayed on the side of caution and banked early.
 
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Beer for me .... down 9 pts there could have been a lot worse many pts under at one point but I want a pint or two, there's always next week. ;-0 |/
 
You were sooo right about that one!. I closed at 1610 for 6558. I'm spitting, now! It was 6517 just now.
 
Good day and good week :) Thanks everyone for your input.

As I said last night, still think we have a wave C down to 16050 or even slightly lower, but I'm happy to bow to the superior knowledge of you guys, and will trade short term on what I see.
 
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