Anyone scalping the FTSE Futures??

barjon said:
that's tomorrow, reks
Click to expand...

barjon

what was your overnight trade
I understand you do pairs trades on ftse/dow but have looked at charts and am struggling to work out your move that you left o/n

of course it may just be me being stupid

I have been doing pairs trades dax/cac and found the dax moves much further asround the more steady cac so effectively I make money if I get the dax going the right way so effectively I am trading the dax and just using the cac as a hedge

I am trying to study if that is normal or just a reaction to the recent situation re europe and newsflow

f
 
fletch

At 6:06pm last night I went long ftse and five or so minutes later (ftse started off going up) short dow. Closed just before open this morning - dow first as price moving up. I didn't want to chance ftse taking immediate fright on the open, which it did before finding its cool and I'd actually have been better hanging on because it's been getting relatively stronger so far. Trades panned out:

ftse L 5880.5 - 5866.5 = -14
dow S 13001 - 12929 = + 72/2 = +36 = +22 net (not including overnight costs)

(not +24 as reported earlier - i worked that from the figures not the trade docs, sorry)
 
Well done jon. Nice trading.

chalky - I thought the level was 5920 cash and 5900 futures. But so far 5900 cash holding.

Can't make my mind up if this is a one way day up. So far the 10 EMA on the 5mc has acted as support. I'd like to see 5900 futures get tested. I've got 95 as the 61.8% retracement, and if it is going to go that far, it might as well go on to test 5900.
 
you could be right re the levels Martin

i just noticed 5900 cash and thought its a likely round number to act as resistance

if it is crossed then looks like 5920 would be next stop as you say.
 
barjon said:
fletch

At 6:06pm last night I went long ftse and five or so minutes later (ftse started off going up) short dow. Closed just before open this morning - dow first as price moving up. I didn't want to chance ftse taking immediate fright on the open, which it did before finding its cool and I'd actually have been better hanging on because it's been getting relatively stronger so far. Trades panned out:

ftse L 5880.5 - 5866.5 = -14
dow S 13001 - 12929 = + 72/2 = +36 = +22 net (not including overnight costs)

(not +24 as reported earlier - i worked that from the figures not the trade docs, sorry)
Click to expand...

Thank you BarJon

I shall study it and also keep working on the dax/cac to see if I can make it work better

If I do I shall post it

fletchie
 
thx, martin - you'd seen it, too, last night.

It looks like ftse anticipated a huge sell-off in the US (might yet be right 🙂) and one way or another would likely re-balance.

If there had been a sell-off then it (or a goodly part of it) would already have been priced into ftse. If not, a chastened ftse would have a bit of catching up to do - which it's been doing this morning.
 
seems to me there's a lot of volume above the current price. a couple of spikes up on 23/24th ....28th shows selling pressure with small range bigger volume bar....price is currently at this bars low 5897 cash so this is a key level for me.

according to my crappy volume charts of course 🙂
 
Chalky_trader said:
you could be right re the levels Martin

i just noticed 5900 cash and thought its a likely round number to act as resistance

if it is crossed then looks like 5920 would be next stop as you say.
Click to expand...

Chalky - I never know which round number is the important one. Is it 6000 in cash or 6000 in futures? Ot does make it difficult to trade if you enter on a limit at those numbers.

We have had the 61.8% retrace on the Ftse futures, but at the moment it hasn't bounced off it too strongly. I think we will probably see the 5900 in the futures and then maybe the reversal then but maybe not more than 20 pts. As I said yesterday, we have the ISM Manuf number at 3pm today, which I expect will be good, so if there is a sell off it will be after this number even if it is good.
 
Thank you eurobabble yet again for messing up a trade. I was short on the break of the levels and then someone at 12:39 decides the greeks haven't defaulted, even though they have, which means no one (ie banks) has to pay up on the credit default swaps, which is good news for european banks and the stock market. I am still in the trade looking for 82 to 82, but I may be forced to cover.
 
MartinC-J said:
Chalky - I never know which round number is the important one. Is it 6000 in cash or 6000 in futures? Ot does make it difficult to trade if you enter on a limit at those numbers.

We have had the 61.8% retrace on the Ftse futures, but at the moment it hasn't bounced off it too strongly. I think we will probably see the 5900 in the futures and then maybe the reversal then but maybe not more than 20 pts. As I said yesterday, we have the ISM Manuf number at 3pm today, which I expect will be good, so if there is a sell off it will be after this number even if it is good.
Click to expand...

My view on this is Cash is king.....

after all the futures are a prediction of where the cash is likely to be on a certain date.

I suppose whichever lines up best with prev support & resist is the better bet.
 
mmm, I'm not sure that ftse levels of whatever colour are of much significance at the moment. I think all eyes on on US open to see if yesterday was a prelude to something big or just a stumble before business as usual.
 
they'll start hitting the bids soon if they gonna drop it (dow) - anywhere twixt 16 and 42
 
well they had a tester as soon as they got in the zone, then hit it for real at 3:00pm (don'cha just love that 3:00pm reversal time 🙂) but don't seem to have dried up the buyers yet.
 
barjon said:
well they had a tester as soon as they got in the zone, then hit it for real at 3:00pm (don'cha just love that 3:00pm reversal time 🙂) but don't seem to have dried up the buyers yet.
Click to expand...

ISM as well Barjon
it came out at 3pm

f
 
fletchie said:
ISM as well Barjon
it came out at 3pm

f
Click to expand...

ah, that explains it - maybe they didn't flood the bids at all then - we need toasties DOM to know, lol.

interestingly ftse was slower in falling and faster in the bounce back, so doesn't seem nervous about a sell-off.
 
Dick Lexic said:
seems to me there's a lot of volume above the current price. a couple of spikes up on 23/24th ....28th shows selling pressure with small range bigger volume bar....price is currently at this bars low 5897 cash so this is a key level for me.

according to my crappy volume charts of course 🙂
Click to expand...

moved the full length of that bar so far today.... top at 935 ...a hold above might give another key level ....it has struggled with this area the last 8 days!
 
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