Anyone scalping the FTSE Futures??

Dommo said:
I would add that on a SB platform you normally cross the spread (ie your limit BUY order only executes at the broker's ASK price (and vice versa for SELL orders)). For this reason I think DOM on a SB platform would operate quite differently to that in the futures market (where you don't cross the spread but do pay commission).
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Thanks Dommo.
 
barjon said:
Just for completeness if anyone is interested the result of the pair trade @ 4:30 would have been:

nb: in case it's not obvious - 1 ftse point is "worth" 2 dow points, hence 2 ftse positions and 1 dow position to even things up.

jon
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Thanks Jon


I'm interested - it looks like a good way to trade (a controlled risk way)

If I understood correctly you long DOW (standard bet size) and short FTSE (double standard bet size). Or opposite way - doesn't make difference as DOW tends to make exaggerated moves (compared to FTSE).

Do you use stops? (If you hedge your DOW position with FTSE position all the time - would you need stops)

Once in a trade, I assume it oscillates from loss to profit and back all the time? Do you just pick up profit based on feelings? Is there need to worry about a loss going too far from your experience?

Also would you trade both of them only when both markets are open (between 14:30 and 16:30)? - intra day

I hope you don't mind all the questions.
 
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DaddyJohn said:
Hi Martin, I know we have discussed this before, but since I have now offically stopped my scalping 😎 and move towards more positional trades (I am even holding overnight !!!) I have dumped my Stellar platform and now only trade through a SB platform.. I have 2 accounts with them .. with one account I hold smaller positions but look to hold them for longer periods of say 1-2 weeks and the second account I use for intraday trading where I judge a good risk/ reward for say a 50 pt profit.. I have gone from making 50 sclaps a day to maybe 1-2 trades a day.. it is far more relaxing and together both accounts are showing profit of 4.5% in two weeks of trading this approach.. so not blinding results yet,, but I am trading very small size whilst I re-orientate my thinking away from the frenzy of scalping...

I will move back to futures once I am confident I have made the mindset change.
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John, I am really pleased for you that you have made the move away from scalping. I hope it works out well for you. Good to see you got rid of your Stellar platform too. It was a lot of money for not so much benefit.

I am curious to see your success rate. Do you have enough trades to work out your average winner and loser, and your win/loss ratio yet?

Also, are you still saying all cycles are three days or are you allowing four day cycles as well? I wouldn't say I am applying Taylor yet, but I am watching for buy, Z and sell days. I did go back and look at the Taylor calcs, and calculated the buy and sell envelope numbers, but I don't have anything that tells me what the four numbers in each envelope mean. I know they are support and resistance levels to use for the following day, but that is all its says in the Angell workbook.
 
back to normal today it seems with 2 swings on FTSE

however we have a doji on both FTSE and Dax and what looks remarkably like a hanging man on the Dow

certainly not a bullish picture anymore
but no trend break either

French 8bn bond auction tomorrow (9:45)
 
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ZEN archer said:
Thanks Jon


I'm interested - it looks like a good way to trade (a controlled risk way)

If I understood correctly you long DOW (standard bet size) and short FTSE (double standard bet size). Or opposite way - doesn't make difference as DOW tends to make exaggerated moves (compared to FTSE).

Do you use stops? (If you hedge your DOW position with FTSE position all the time - would you need stops)

Once in a trade, I assume it oscillates from loss to profit and back all the time? Do you just pick up profit based on feelings? Is there need to worry about a loss going too far from your experience?

Also would you trade both of them only when both markets are open (between 14:30 and 16:30)? - intra day

I hope you don't mind all the questions.
Click to expand...

zen

Yes - or 1 position on dow and 1/2 position on ftse. Take your choice. If you didn't spot it this post explains it more http://www.trade2win.com/boards/uk-indices/120172-anyone-scalping-ftse-futures-560.html#post1758370

You can't use stops since they apply to ftse and dow separately and you're always looking at the net difference. So you have to keep your eye on that net difference all the time and exit (both profit or loss) in relation to that and, yes, there is a danger that it can run away with you if there is consistent strength/weakness like there was yesterday. The thumbnail shows the sort of intraday strength and weakness oscillations based on hourly closes.

I trade from ftse open to ftse close via SB which have out of hours quotes for the dow. But bear in mind these are "play" accounts and not my main stuff which is equities.

jon
 

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Its also worth thinking about the $200 million imbalance on the buy side in the closing auction on the Dow

it was filled obviously because all trades have to be matched
but it didnt seem to have much effect on the Dow level
 
MartinC-J said:
John, I am really pleased for you that you have made the move away from scalping. I hope it works out well for you. Good to see you got rid of your Stellar platform too. It was a lot of money for not so much benefit.

I am curious to see your success rate. Do you have enough trades to work out your average winner and loser, and your win/loss ratio yet?

Also, are you still saying all cycles are three days or are you allowing four day cycles as well? I wouldn't say I am applying Taylor yet, but I am watching for buy, Z and sell days. I did go back and look at the Taylor calcs, and calculated the buy and sell envelope numbers, but I don't have anything that tells me what the four numbers in each envelope mean. I know they are support and resistance levels to use for the following day, but that is all its says in the Angell workbook.
Click to expand...

Sorry to butt in here before John can answer. But I agree with you there Martin, nice amount of detail on how to execute the calculations and not much on how to execute trades from the envelopes in sniper trading.
I have changed the calculations quite a bit to get ones that work ok with the FTSE, I only really use the breakout numbers from the book and rest are modified.
 
ftse relatively weak today

feeble reversal attempt 8:30 slot
approaching 9:00 slot for another try?
 
reksa said:
Sorry to butt in here before John can answer. But I agree with you there Martin, nice amount of detail on how to execute the calculations and not much on how to execute trades from the envelopes in sniper trading.
I have changed the calculations quite a bit to get ones that work ok with the FTSE, I only really use the breakout numbers from the book and rest are modified.
Click to expand...

Thanks Mark. I am glad I am not alone here. Maybe there should be a better description of the four numbers in each envelope, and how to use them, and what sort of signals to look for if the numbers aren't going to work.

Looks like we are testing the 5593 swing high from 7 December. I have to believe we will at least test this if not lower. We've also gone below yesterdays low, and we still have that gap from 30 Dec to fill down to 5560 area.
 
Dick Lexic said:
anyone trading price? june low?
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Hi Dick.. I am not trading it ... I am just looking at fibs today from yesterdays highs / lows.. am looking for a nice place to buy from .. I think FTSE does want to do 5850... this is a key level in my book .. if it cannt get above this then I do feel we are in a for a bigger leg down... but on the basis it wants to try , then I am just looking for a nice long entry.
 
DaddyJohn said:
Hi Dick.. I am not trading it ... I am just looking at fibs today from yesterdays highs / lows.. am looking for a nice place to buy from .. I think FTSE does want to do 5850... this is a key level in my book .. if it cannt get above this then I do feel we are in a for a bigger leg down... but on the basis it wants to try , then I am just looking for a nice long entry.
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looks like tha old stinker 600 could get his way again
 
DJ,you can trade price only? or are you taking fib s&r ect?

i see you are now into gann, i have been looking at market timing and came across something i think was called gann square of 9? have you came across this? is this to time top & bottoms?
 
i have also been looking at market cycles

the next one is at 592 ( but i got no idea really) ha lets see if i'm right
 
Dick Lexic said:
DJ,you can trade price only? or are you taking fib s&r ect?

i see you are now into gann, i have been looking at market timing and came across something i think was called gann square of 9? have you came across this? is this to time top & bottoms?
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The sq of 9 relates to Ganns belief that markets (and many other things in life) follow natural laws of numbers.. Fibs are based on the same principle, but the sequence tends to be different e.g Gann says 66.666% is critical whereas Fibs say it is 61.8%..... so I am studying both to see which I prefer. What I like about GANN is the concept of natural angles drawn from major lows and highs .. and then combining this with the natural numbers and seeing if there is a cluster of agreement around the same price that tallies with where price has formed S&R levels in the past.. this gives me a strong confidence in the trade.

I am only using GANN for looking at major turning points , not intraday.. So it is more of a strategy tool for me that helps me think through where price could go next. I will send you a chart showing some GANN analysis on the FTSE I have doen recently.
 
DaddyJohn said:
The sq of 9 relates to Ganns belief that markets (and many other things in life) follow natural laws of numbers.. Fibs are based on the same principle, but the sequence tends to be different e.g Gann says 66.666% is critical whereas Fibs say it is 61.8%..... so I am studying both to see which I prefer. What I like about GANN is the concept of natural angles drawn from major lows and highs .. and then combining this with the natural numbers and seeing if there is a cluster of agreement around the same price that tallies with where price has formed S&R levels in the past.. this gives me a strong confidence in the trade.

I am only using GANN for looking at major turning points , not intraday.. So it is more of a strategy tool for me that helps me think through where price could go next. I will send you a chart showing some GANN analysis on the FTSE I have doen recently.
Click to expand...

Dick,, I will send this chart to you in a private message.. I dont want to waste peoples time opening up this debate on a public thread.. cheers
 
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