So if one sell FTSE at fxcm quotes and buy at IG INDEX one will be able to lock the 20pips spread !!!????
So if one sell FTSE at fxcm quotes and buy at IG INDEX one will be able to lock the 20pips spread !!!????
I don't think that's possible as you would be using two different platforms so there is no way to lock in profit. Look at FXCM and see what time they adjust the price.
Short you pay the div long you receive. Hope this helps.
yes but if one place a limit of say 18pips and trade both account then theoretically one would lock in the spread, I never seen that spread before and that is the only reason I am not playing it, but tomorrow is near. By the way IG INDEX is quoting a bet of 17-21 pips that FTSE will close > 5899.87 by 4pm tomorrow!!!!!
Dick Lexic
Veteren member
- Messages
- 4,954
- Likes
- 124
thought i seen lightyear hanging round this morning but he seems to have disappeared again🙁
Well for some reason during the overnight session the ES pushed on and made a perfect 161.8% extension that was retested at 5:55am. So in my book it should retrace at least 38%. But these are abnormal markets right now. It should sell off, but it is not happening. In fact any sell off recently has lacked conviction. I would be surprised if it didn't go back and test the lows. Also the FTSE has a gap to close, which it tried and failed to do so.
So for now, I am suspending belief. This market should be selling off, but it isn't. It keeps grinding higher on the most unconvincing price action. We've got UK unemployment data at 9:30am. Maybe the markets are waiting for that data, although normlly it has no effect on the market.
So for now, I am suspending belief. This market should be selling off, but it isn't. It keeps grinding higher on the most unconvincing price action. We've got UK unemployment data at 9:30am. Maybe the markets are waiting for that data, although normlly it has no effect on the market.
Dick Lexic
Veteren member
- Messages
- 4,954
- Likes
- 124
dax is finally hitting fridays high ...maybe this is a good indicator after all...if it works we'll call it the merkelator😆
Dull? Perhaps, but not unprofitable. This is a bread and butter morning that has been going up since 0840.
well done split
sadly not really profitable for me as I am currently £ 18 up on the day.
still, better than a loss.👍
Well, I'm not up much more but never look a gift horse in the mouth. This has been good for me because I stuck the trade on and then had to go and do something else.
It happens when you are retired and married...... 🙂
Dick Lexic
Veteren member
- Messages
- 4,954
- Likes
- 124
so now we can tell the future🙂
[Social Mood Watch] Want to Know Who’s Going to Be President? Ask the Stock Market
[Social Mood Watch] Want to Know Who’s Going to Be President? Ask the Stock Market
Hi Folks
First let me say its been great reading this thread off and on over the last year - keep up the good quality work. I have not contributed as I am not a FTSE scalper (I might have asked Martin CJ a question when he first started the thread). I earn my crust options trading individual stocks and taking slightly longer time positions on the index. But, about once a month on average, I do dip in and out of trading futures on a short term basis but as yet not what I call well.
Curious to know: Will you be scalp trading through the bouncing around of "Option Friday" this week given that it possibly tends to generate conflicting signals ?
Cheers
R
First let me say its been great reading this thread off and on over the last year - keep up the good quality work. I have not contributed as I am not a FTSE scalper (I might have asked Martin CJ a question when he first started the thread). I earn my crust options trading individual stocks and taking slightly longer time positions on the index. But, about once a month on average, I do dip in and out of trading futures on a short term basis but as yet not what I call well.
Curious to know: Will you be scalp trading through the bouncing around of "Option Friday" this week given that it possibly tends to generate conflicting signals ?
Cheers
R
Hi Split, the volatility is great for scalping especially when the moves are big, but there still has to be consistency and uniformity in the price action to make it profitable for a scalper. The set ups still have to obey all of the rules. And you don't want a lot of chop. The daily range has been falling since November, and we have had several days where the price action has been contained in tight ranges for hours, which really helps nobody.
Also, there is too much news flow going on regarding the euro crisis. Just when the price action is steady and heading for a specific price target, you get some eurocrat come out with a statement like he doesn't like greek olives or italian food, and the price action breaks down again.
The big guys that control these markets like it stable and steady so they can plan effectively how they are going to steal our money from us. With all this eurobabble going on they can't plan effectively and as a result the market is more unpredictable than normal. Yesterday mornings price action in the first hour was a prime example of this.
I think these markets have been difficult for all types of traders. Of late the shorts have really got burned, and bad news has not resulted in any major sell offs. The current run up has happened without any decent pullbacks, which is a sign that these are not normal conditions.
As I said earlier, I am fed up of the greek situation. I wish they would be able to resolve it once and for all. Sadly for the greeks the situation is difficult no matter what. I am waiting for the day when the focus arrives on our doorstep and the bad guys target out economy. Let's hope we all get through this alright.
Last edited:
Many thanks Fatfinger for posting here. Anyone with a knowledge of the options market can always be of help here.
In answer to your question, on many occasions I will scalp the futures expiry on a friday morning. Oddly enough the months that are not March, June, Sept and Dec are the better months for scalping the expiry. The moves seem more exaggerated. Prices quite often reverse off the expiry at 10:15am.
I will on occasions if the price action is active, open a with trend trade at around 10:10am and reverse around 10:13am if the indicators support it. I use a 50 volume chart of the FTSE future and look for a 5/10 EMA crossover and for confirmation with ADX. I don't use indicators normally for entries but at options expiry they are very helpful.
On too many occasions prices are manipulated going into options expiry, but it is difficult to be 100% sure who is doing what. Do you have any views on how to trade the options expiry?
On too many occasions prices are manipulated going into options expiry, but it is difficult to be 100% sure who is doing what. Do you have any views on how to trade the options expiry?[/QUOTE]
Hi
Great question. As you say the intermediate months are a little less volatile due to mainly a subset of highly liquid stocks expiring and no futures. As for how to trade on the friday I have in the past traded obvious swings on the FTSE into the distribution tails when there has been no macro events clouding the issue. You mentioned about trading upto 10:30am option expirey - but stock options trade upto 16:30hrs, even on expirey day and can be excersied upto 18:30hrs.
Cheers
R
Hi
Great question. As you say the intermediate months are a little less volatile due to mainly a subset of highly liquid stocks expiring and no futures. As for how to trade on the friday I have in the past traded obvious swings on the FTSE into the distribution tails when there has been no macro events clouding the issue. You mentioned about trading upto 10:30am option expirey - but stock options trade upto 16:30hrs, even on expirey day and can be excersied upto 18:30hrs.
Cheers
R
