Anyone scalping the FTSE Futures??

[dc2000]

I've netted +5 points in 4 trades. 2 on Dax, 1 on FT and 1 on Euro/GBP.

I tell myself that I am not a scalper by nature.

I've had such a good week that I just had to try an finish with a bang. Such was not to be but, at least, my lolly is intact so far.

Nooo Bang
Glad you had a good week best thing is to walk away and come back monday same goes if you have a bad week also never try to do extraordinary things

 

[MartinC-J]

Just me, or is the FTSE quite hard to scalp this morning? A few points down, lots of b/e trades, although missed a couple of 10pt moves as I wasn't paying enough attention.

After 8:38am, the price action broke down yet again and was effectively untradeable. I caught the reversal off the high at 8:10am and rode it down for 16 pts. The market seemed to be jumpy ahead of the NFPs. So you were not alone.

As for this pm, I still think it will sell off. We have been at highs, so there is some room below. The expectation that the Fed will now be forced to do something may push this back up. I would watch for a cross above the Mid BolyB (8 period) to signal a push northwards. It is also Labor Day weekend in the US, so this may just fizzle out undecided.

 

[dc2000]

Ooooooh chaffing a little is it sir

not arf

 

[reksa]

Selling off nicely. At least the market is making sense for now.

See if S3 pivot holds up.

 

[reksa]

Selling off nicely. At least the market is making sense for now.

See if S3 pivot holds up.

It bounced 30 points plus so far. Sat and watched it.

It might test it again before the 16:30 bell

 

[lurkalot]

Hard work today. I think I'm too nervous. If it dropped to 250 I might be happier

Monday could be dull.

 

[reksa]

Hard work today. I think I'm too nervous. If it dropped to 250 I might be happier

Monday could be dull.

Being nervous on a day like this can keep you out of trouble.

I think most people would not have been surprised if it had rallied after it spiked down. Which puts you in a frame of mind where you don't trust your indicators.

At least the market is making sense for now.

Im looking forward to Monday, a day without the US going crazy in the afternoon.

 

[Dick Lexic]

Three, six, nine
The FTSE broke 59
The s&p chewed tobacco at 1199
99 broke, the FTSE got choked
And they all went to heaven in a little row boat


a bit of volume in at 318

got the last line wrong it should have read...they all went down the swanee with a little row boat.

bad day for me today hope some of you made some pennies

 

[dc2000]

not for me I have to wait no worries though todays action priced in the high for September @11898

 

[Dick Lexic]

rollin rollin rollin
keep them doggies rollin

Ha I got a bit of a “ Rawhide “ on Friday

The bulls got herded back into the OK Corral at 5359.

I think the markets will get down to Fib 212 again so i will look for a short below 250.

 

[Dick Lexic]

with the us closed today is it easier for those nice honest chappies to run the stops?

 

[dc2000]

a nice buying week starting off well. gap down will be ready for the US to come in tomorrow and boost

I would like to see FTSE @5302 later today Im in at 202

Dow trade this morning $12k ish down

 

[reksa]

Anyone having any joy trading these small swings. I have been using 3EMA and the mid boly (18) crossover to signal a reversal and its working pretty well. Even the fakes are giving me time to get out flat.

 

[dc2000]

looking a bit week for my ftse trade Imay have to lower target to 5235 will see what price we get low in the next 10 mins

 

[dc2000]

235 it is then

if I have to chip away then chip it is

 

[MartinC-J]

Just some observations really. The ES is at its 61.8% retracement on the daily at 1156.50. This is calculated from the swing low on August 22nd, and the high being 1229.75. If the uptrend from the low of 9th August is to continue, a bounce off 1156.50 would be confirmation.

As for the FTSE, we gapped down 78 points from friday's close at 9pm, which is pretty bearish, and at times this morning it has been down more than 2%. On a day when the US cash markets are closed for Labor Day, I would have thought that a 2% fall is more than enough. Last year on Labor Day, the FTSE stayed in a range of 20 pts all day. What a difference a year makes. We have just a little bit more volatility now! It's been an ok morning to trade, but since 10am volumes have dropped off and it's time to catch up on paperwork for the rest of the day.

 

[dc2000]

ooh the waiting. I expect the DOW to hit 10915 by tomorrow lunchtime just to confirm the bull market
the ftse I expect a pullback this afternoon to the 235 if it goes 135 first thats no great problem infact provides a great oversold op to buy

 

[Splitlink]

Just some observations really. The ES is at its 61.8% retracement on the daily at 1156.50. This is calculated from the swing low on August 22nd, and the high being 1229.75. If the uptrend from the low of 9th August is to continue, a bounce off 1156.50 would be confirmation.

As for the FTSE, we gapped down 78 points from friday's close at 9pm, which is pretty bearish, and at times this morning it has been down more than 2%. On a day when the US cash markets are closed for Labor Day, I would have thought that a 2% fall is more than enough. Last year on Labor Day, the FTSE stayed in a range of 20 pts all day. What a difference a year makes. We have just a little bit more volatility now! It's been an ok morning to trade, but since 10am volumes have dropped off and it's time to catch up on paperwork for the rest of the day.

I'm terrible for missing calendar items, I really am. I saw that the UK Service's figures were bad but completely missed Labour Day!

As soon as I read your post I closed. Fortunately, I was short FT and got 14 points out of it.

Paperwork for the rest of the day? It's not lunchtime yet. Nice to be retired!

 

[MartinC-J]

Splitlink - I wish I was retired! I'm just 51 yrs young and have many more years slaving in the salt mines. I just think that without US influence the markets may be a little directionless, and sometimes you are better off doing other things instead of trying to force things.

Since I last posted, it has tested the 5154 level and is struggling to make it back up higher than the 5169 level above it. It may still make a strong move back up, and if the 5169 level is breached to the upside, then it should happen.

As for DC's targets of 5461 for FTSE cash and 11898 for the Dow, I have no idea how or why we will get a rally up to those levels (I am very bearish), but DC has a great track record and reads these moves better than someone with a time machine.

 

[Splitlink]

Splitlink - I wish I was retired! I'm just 51 yrs young and have many more years slaving in the salt mines. I just think that without US influence the markets may be a little directionless, and sometimes you are better off doing other things instead of trying to force things.

Since I last posted, it has tested the 5154 level and is struggling to make it back up higher than the 5169 level above it. It may still make a strong move back up, and if the 5169 level is breached to the upside, then it should happen.

As for DC's targets of 5461 for FTSE cash and 11898 for the Dow, I have no idea how or why we will get a rally up to those levels (I am very bearish), but DC has a great track record and reads these moves better than someone with a time machine.

First, it's got to get to 5200. We'll worry about the rest, later.