Anyone scalping the FTSE Futures??

[Maddog79er]

When we were approaching 1000ES, everyone on elitetrader was saying that it had ran too far and the top was near. They'd short everyday on the livecall thread and get their ass handed too them. Most of died from a thousand cuts or from blowing out on one position. A few are still around and stil doing it! (Ammo to name one)

We're now approaching 2000ES.

I honestly wouldn't be that surprised if we were at 3000ES in the not too distant future! It's not a real 'market'!

ps long again 996012 tick stop

Can you back this up with any technical analysis or have you been watching too much CNBC? Lol

 

[Maddog79er]

You totally miss my point.

Trading isn't about being right or wrong, or anyone's opinion - it's about making good, risk adjusted returns. Period.

You aren't managing risk - you are just averaging down, and if you get away with it this time it will be because of pure luck, not because of your confidence.

That in itself is an opinion :clap:

 

[lexcorp]

Sell signal here.
obviously not gonna short, by am gonna cover my Dow long.
+35

 

[lexcorp]

Sell signal here.
obviously not gonna short, by am gonna cover my Dow long.
+35

Out here at 9973 for +13

Out here at 9955 for +35

Done for the morning. Maybe back later. Good luck

 

[SpreadDoctor]

The markets are overbought and if the DOW goes above 17000 and stays there without a correction, then I shall buy you all a drink. It won't though, and I'm very confident of that.

How could you possibly know that though? Nobody knows what is going to happen when it reaches 17000. Truly anything can and will happen in the market at any given time. As traders we are just looking for spots where we have an edge and executing with good MM. just my 2c. GL

 

[Maddog79er]

How could you possibly know that though? Nobody knows what is going to happen when it reaches 17000. Truly anything can and will happen in the market at any given time. As traders we are just looking for spots where we have an edge and executing with good MM. just my 2c. GL

I agree somewhat SD. Technically 17000 is just another number but it is also an area we have been close to before and technically it holds some resistance. It is looking like a double top to me and historically the markets do not go up in straight lines.

I believe DOW above 17000 is a great shorting opportunity for about 300 points then I shall be going long also.

Surely for good MM we need to consider both sides?

 

[postman]

.. the markets do not go up in straight lines.

...

Where have you been for the last 4 years?

 

[Maddog79er]

Where have you been for the last 4 years?

If that is a straight line then I see a headline "postman should've gone to spec- savers"

 

[fairval]

Has anyone traded the NFP number before?
There is a 212.5-222.5 market on intertrader and IG have markets in NFP to be above 150,180....270

I'm tempted to go long at 222.5 and sell the above 270 at 16

I feel I should be doing something!

 

[postman]

If that is a straight line then I see a headline "postman should've gone to spec- savers"

OK. Just a question for the benefit of people who might be on the fence?
Apart from you "feel" it should go down because its gone up too high or too quickly, why were you shorting the Dax. Its not near a double top? Your still 80 points away from that!

 

[emoun]

Anyone else shorting FTSE ?

 

[postman]

Has anyone traded the NFP number before?
There is a 212.5-222.5 market on intertrader and IG have markets in NFP to be above 150,180....270

I'm tempted to go long at 222.5 and sell the above 270 at 16

I feel I should be doing something!

I would make a complete guess at 185K.
The unemployment numbers were exceptionally good, but that does not relate to NFP because people are not counted as unemployed for any number of reasons, only one of them is 'they have a job'. Welcome to the land of Government statistics.

 

[postman]

Anyone else shorting FTSE ?

Dont make me say it.

 

[inzimam]

approaching Jan 23 high reversal point on FTSE

 

[inzimam]

im long for 6860

 

[Sonicscooter]

If that is a straight line then I see a headline "postman should've gone to spec- savers"

You may be correct this time or next and carry on, but eventually without stops and keep placing more positions you will get it wrong, that damages your account, some don't recover, and most people do what your doing at some stage.

Tick, tick, tick, tick.............BOOM.

 

[Sonicscooter]

I'll take that as a no then.



Yeah I don't think he's actually trading any of this, just making it all up... let's face it would you be happy to be over -100 pts offside with no stops going into ECB/NFP ?

NO..............We have all made mistakes in this job, i certainly have, the idea is to stop making them.......and a good old dose of MM.

 

[Sonicscooter]

Good luck if you have open positions..............

 

[lexcorp]

Sell signal here.

25 point drop so far since that signal

 

[postman]

Burned a few shorts on the way up, now burn the longs on the way down ...
But what will happen at the open!