Anyone scalping the FTSE Futures??

reksa said:
DJ are you still at Futex? If so, are any of them on the Taylor method?
Click to expand...

I trained at Futex .. but I dont trade on the floor anymore, I have my own office in Reigate close to home.. the training at Futex was good but very much a scalping game.. which is fine, but I want to move more towards swing trading so I picked Taylor as an approach. I still trade through Futex and get very good commission rates and they are a good bunch of guys and have helped me a lot.
 
The only gap I have is 12.5 points on the FTSEZ1 contract. Last night it closed at 5439, and it opened at 5451.5. The gap was closed at 8:03am.

DJ - if you do find your LIFFE data maybe you could explain what you are looking for that gives you a clue as to how friday will close the old contract at 10:20am?
 
MartinC-J said:
The only gap I have is 12.5 points on the FTSEZ1 contract. Last night it closed at 5439, and it opened at 5451.5. The gap was closed at 8:03am.

DJ - if you do find your LIFFE data maybe you could explain what you are looking for that gives you a clue as to how friday will close the old contract at 10:20am?
Click to expand...

Options are used as a hedge and become payable on rollovers.. the market makers look at what they stand to win or lose (in terms of payouts) if the ftse closes at a particular level on rollover. There aim is to get the market to the price where they get minimal damage. Maybe someone else can explain better.
 
DaddyJohn said:
Hi MC.. it is odd and something I get confused about.. for instance cash and futures are very much price for price at the moment i.e no real difference between them.. cash yesterday closed at 5490 and opened today at 5490 (using my e-signal daily charts.. however ftse futures at 8am was at an open of 5451.5 the cash quickly dropped to this number... in my view, isnt that a gap?
Click to expand...

I have always been under the assumption that most eod sites quote the open as yesterday’s close as that is what FTSE recommend or maybe even stipulate. It would be nice if it was quoted like the Nasdaq. But after the auction the cash market had a negative gap.
But as the say “assumption are the mother of all **** **’*”
 
DaddyJohn said:
Hi MC.. it is odd and something I get confused about.. for instance cash and futures are very much price for price at the moment i.e no real difference between them.. cash yesterday closed at 5490 and opened today at 5490 (using my e-signal daily charts.. however ftse futures at 8am was at an open of 5451.5 the cash quickly dropped to this number... in my view, isnt that a gap?
Click to expand...

Thanks for explaining

my definition of a gap is a jump/drop in price where no trading takes place at all
see my chart yesterday of S&P

on my feed futures at 7:59 closed at 5450
at 8:00 the first tick came in at 5450.5

I agree it then dropped "quickly" but it didnt leave an empty space after 8:00

but as ftse futures trades from 01:00 in the morning , 8:00 is not really an "open" for futures

is that where the difference lies ?
 
does your feed recognise this change ?

Amsterdam, Brussels, Hong Kong, Lisbon, London, New York, Paris -- 21 September 2010 NYSE Liffe, the global derivatives business of NYSE Euronext, today announced that, from Monday 4 October 2010, it will extend the trading hours of its benchmark FTSE 100 Index Futures contract.

FTSE 100 Index Futures will open at 01:00 hours (London time), seven hours earlier than the current opening time. The closing and daily settlement times of the contracts will remain unchanged.

NYSE Liffe is acting to better serve its growing customer base in Asia. This change is also part of NYSE Liffe’s strategy to further develop its business and strengthen its presence in the region.
 
DaddyJohn said:
Options are used as a hedge and become payable on rollovers.. the market makers look at what they stand to win or lose (in terms of payouts) if the ftse closes at a particular level on rollover. There aim is to get the market to the price where they get minimal damage. Maybe someone else can explain better.
Click to expand...

it is often called the price which gives the Maximum Pain
it depends if you are a writer or not
😆

Max Pain Definition | Investopedia
 
Mornington Crescent said:
does your feed recognise this change ?

Amsterdam, Brussels, Hong Kong, Lisbon, London, New York, Paris -- 21 September 2010 NYSE Liffe, the global derivatives business of NYSE Euronext, today announced that, from Monday 4 October 2010, it will extend the trading hours of its benchmark FTSE 100 Index Futures contract.

FTSE 100 Index Futures will open at 01:00 hours (London time), seven hours earlier than the current opening time. The closing and daily settlement times of the contracts will remain unchanged.

NYSE Liffe is acting to better serve its growing customer base in Asia. This change is also part of NYSE Liffe’s strategy to further develop its business and strengthen its presence in the region.
Click to expand...

yes my feed does reflect this.. but I still think it is relevant to look at the difference.. FTSE cash seem to stipulate the opening price has to be the same as closing.. I think this is misleading. If futures is 40 prices away from cash at 8am then in my view that is a gap on the cash.. it doesnt show as a gap on your 1 minute chart.. it just shows a long red or green candle.
 
mrng chaps
I use two gaps the cash close and the futures 15mins later it is artificial to some extent as trading goes through the night but I find most out of hours prices are mirrored in session

for todays action well its slow a negative open wasnt what was wanted but still fine this means the sell part will come later in the day and it also means there could be another sell tomorrow rather than a SS

The DOW is on a buy and should produce a double then a huge move today or tomorrow, my preference at the moment is later today, if all goes to plan then DOW then this would put the DOW at 12405 as yet only the 12305 is in play
 
that was a fascinating series of posts regarding gaps

clearly we all have our own definitions

and thats ok I guess

I will carry on using my tick charts
and you will carry on doing what you do,I'm sure

its just confusing when we all use the same language

thank god we dont have any yanks on board
😆
 
dc2000 said:
mrng chaps
I use two gaps the cash close and the futures 15mins later it is artificial to some extent as trading goes through the night but I find most out of hours prices are mirrored in session

for todays action well its slow a negative open wasnt what was wanted but still fine this means the sell part will come later in the day and it also means there could be another sell tomorrow rather than a SS

The DOW is on a buy and should produce a double then a huge move today or tomorrow, my preference at the moment is later today, if all goes to plan then DOW then this would put the DOW at 12405 as yet only the 12305 is in play
Click to expand...

DC.. we are in a Z week .. yes?
 
Merkel speaking soon.. yesterday she was reported as saying she wouldnt increase bailout fund, but I dont think this was an official statement. If she now says she will approve increase in funds then we are off and upwards methinks.
 
Mornington Crescent said:
that was a fascinating series of posts regarding gaps

clearly we all have our own definitions

and thats ok I guess

I will carry on using my tick charts
and you will carry on doing what you do,I'm sure

its just confusing when we all use the same language

thank god we dont have any yanks on board
😆
Click to expand...

I go with what gaps were described as before futures existed, ie the difference between market close and open. 1630 on ftse to 0800.
That's when most of the big transactions are done anyway.
 
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