Anyone scalping the FTSE Futures??

Would be really interested to see some more of your charts on this strategy MartinC-J. Very educational, not sure how I missed this thread previously.
 
if i was looking for a FTSE cash scalp it would be from 5275 to 5340 but no higher certainly not 393
 
COINMOUNTAIN said:
i use bollinger bands, pivots ,10 ema, stochastic and take trades
just wondered what your daily set up was?
Click to expand...


just a price screen calculator and note pad I have small charts on my other screens but only to show price history no technicals. I dont do daily trades these days more longer term but as Im in UK for next few weeks thought I would pop in to T2W and have a little fun running the numbers
 
teamwk said:
Martin C-J

I am doing like you but a whole lot diffrently. I started very humbly with zero confidence in what I was doing about 3 months ago and now I have even quit my accounting job and doing this full time.

To be honest, I think I am doing well. Though my method is a hell lot different from yours. The good thing about my method is that its ZERO LOSS.

To cut a long story short- I do my FTSE100 trades in BETFAIR (these are 20mins FINANCIALS). You will find that its much easier if you download and use the BETTING ASSISTANT(Gruss). This might sound like gambling but am not gambling but making profits EVERY 20 minutes on Betfair Financials. My personal finances are now excellent as a result.

All you do is register with Betfair and download the BA(its only £6/month), and start trading.

Then-log-on to the BA and go to Financials - FTSE-20 minutes.

1) You then bring up the (20mins) just before it goes IN-PLAY, noting the level of the FTSE100 at the bigining of that 20mins. (whether its 5780,5560 or what ever it was just before the start of the 20minutes. These run from 9am to 4pm UK time.

2) Wait for any(whether down or up) to reach its MINIMUM-say @1.20(LAY). Then you take that twice (LAY) at say - one as 1.20@£2 and and the other as 1.20@ £100. NOW NOTE that you only do this when the odds START moving UPWARDS.(CRUCIAL)

3) To safeguard yourself -Place a BACK as 1.20@£102 and leave it UNMATCHED as the odds drift upwards. (this is for just in case the market turns against you.If it does-this CONTRAs your original entries.
Suppose the odds reach 100, you then ClOSE the deal by BACKING as 100@£2. This GREENSUP on both sides at £100 each and at end of the 20 minutes, your account inreases by £100. Then quickly cancel the BACK(security) of 1.20@£102 before it gets matched.

You do this 21 times per day and end of day you bank £2 100 or even more depending on your stakes. The main thing here is you LOSE NO PENNY at all and you make profits every 20 minutes. Sometimes out of the 21 events you might make 12 or more. To me this is good money without having to analyse this and that or lose.

I recently bought a brand new car using this method.
Am sure you can find my email on this forum-hook me up-maybe we can share more about this.

Well I had tried what you are doing before but it gave me so much pressure. I hope this might help.

Cheers
Click to expand...

Hi
Would appreciate a reply either here or [email protected]
i would like to give your betfair idea a chance but article is as clear as mud to me.
Not used to betting that way.
any help appreciated.
regards
 
pb8856 said:
Would be really interested to see some more of your charts on this strategy MartinC-J. Very educational, not sure how I missed this thread previously.
Click to expand...

pb8856 - Many thanks for your post. I haven't been updating my thread because for a while it seemed as if I was talking to myself and there were very few posts from other FTSE traders. I have been working on my trading strategies in the meantime and have been improving entries and exits, and also learning to sit on my hands more and chrry pick my trades. Mostly I am learning the discipline to stay out if the price action is inconsistent. I really like the first 30 minutes of trading, because the price action tends to be very clean, except for monday mornings.

The current volatility is great for trading but you have to work with wider stops and be prepared to get spiked out on occasions. I will update my header at some stage with some subtle changes to my trading strategies when I have the time. I have been away on holiday for a week and am just catching up now. I still rely on the 1 min chart and a 12 period boly band. It's great for timing entries. The 5 minute chart is still the main guide for trend, and the best for trades lasting more than 10 minutes.

As I write the FTSE has had a wild ride this morning up 130 pts from the open, and then selling off 150 pts. If the US markets don't also open up in a buying mode, I will eat my hat. I am expecting the Dow to rise between 2:30pm and 3pm. After that anything could happen.
 
MartinC-J said:
pb8856 - Many thanks for your post. I haven't been updating my thread because for a while it seemed as if I was talking to myself and there were very few posts from other FTSE traders. I have been working on my trading strategies in the meantime and have been improving entries and exits, and also learning to sit on my hands more and chrry pick my trades. Mostly I am learning the discipline to stay out if the price action is inconsistent. I really like the first 30 minutes of trading, because the price action tends to be very clean, except for monday mornings.

The current volatility is great for trading but you have to work with wider stops and be prepared to get spiked out on occasions. I will update my header at some stage with some subtle changes to my trading strategies when I have the time. I have been away on holiday for a week and am just catching up now. I still rely on the 1 min chart and a 12 period boly band. It's great for timing entries. The 5 minute chart is still the main guide for trend, and the best for trades lasting more than 10 minutes.

As I write the FTSE has had a wild ride this morning up 130 pts from the open, and then selling off 150 pts. If the US markets don't also open up in a buying mode, I will eat my hat. I am expecting the Dow to rise between 2:30pm and 3pm. After that anything could happen.
Click to expand...
hi
All you need to do is bring up the wall st chart alongside ftse put in 5 min and add 10 EMA ,stoch, pivots and you will see they run in tandem with wall st giving the lead
I would never trade 30 min charts without a 50/100 pip stop
good luck
 
Coinmountain - That works fine for 2:30pm to 4:00pm, but in the morning I watch the FTSE to lead, with confirmation on the ES and FESX. They are all in a degree of unison, but one will lead more than the others depending on the hot news of the minute. And yes, the longer the time period of chart you use, the wider your stops need to be. With a 1 minute chart, my stops are around 3.5 to 4.5 pts on the FTSE.
 
MartinC-J said:
pb8856 - Many thanks for your post. I haven't been updating my thread because for a while it seemed as if I was talking to myself and there were very few posts from other FTSE traders. I have been working on my trading strategies in the meantime and have been improving entries and exits, and also learning to sit on my hands more and chrry pick my trades. Mostly I am learning the discipline to stay out if the price action is inconsistent. I really like the first 30 minutes of trading, because the price action tends to be very clean, except for monday mornings.

The current volatility is great for trading but you have to work with wider stops and be prepared to get spiked out on occasions. I will update my header at some stage with some subtle changes to my trading strategies when I have the time. I have been away on holiday for a week and am just catching up now. I still rely on the 1 min chart and a 12 period boly band. It's great for timing entries. The 5 minute chart is still the main guide for trend, and the best for trades lasting more than 10 minutes.

As I write the FTSE has had a wild ride this morning up 130 pts from the open, and then selling off 150 pts. If the US markets don't also open up in a buying mode, I will eat my hat. I am expecting the Dow to rise between 2:30pm and 3pm. After that anything could happen.
Click to expand...

Looking forward to hearing how your system has evolved. I'm only trading daily timeframes at the moment due to my job and have been keeping clear of the markets over the last week as its moving too fast for my tastes.

Will be giving day trading a go next yr once I have built up enough capital so will be following your journal and will drop questions if you don't mind :)
 
pb8856 - good luck when you start intraday trading next year. Make sure you have enough capital to trade without fear of losing it. Make sure you have seperate funds to pay your living expenses and wine and women for at least 6 months. Trading is by far the hardest job you will ever do, and it will test your limits to the max. Mentally you have to be prepared for all the self doubt and second guessing involved. The end result is well worth all the pain. There are few jobs you can do that allow you to quit for the day after an hour, but equally there a few jobs where you can work hard all day and lose a day's wage if not more. Be patient. Be persistent.
 
agreed, have been in the markets for about 5 yrs through stocks, funds, spreadbetting etc so have been on the emotional rollercoaster enough times to know when its happening and too walk away with a loss. I hope most of my expensive lessons have been learned.

Will be moving somewhere warm and cheap before going full time to reduce living expenses but will make sure i'm well funded just in case.

How long did it take you to learn to get profitable intraday, have you experienced any nasty downswings ?
 
pb8856 - I am not profitable yet. I put £20,000 into my trading account last November and I am down £414, to £19,586. I do most of my trades on the sim while I learn this business. I am trying to make the move to all of my trades being live, which is a measure of confidence in my trading startegies. I am aware that sim trades count for nothing and live trades are all that counts, but sim trading allows for you to be technically able without it costing you anything. It is also important you don't develop bad habits on the sim, and you have to be disciplined and trade as if you were live. I average £400 to £500 per day on the sim. I will be happy if I just do half of that when I go live.
 
Smart move. I generally sim for 3 months before putting real money behind any strategy but have had strategy's not work for me after switching to live trades for no apparent reason other than my own perception.

IMHO It would be nice to have entry criteria locked down or close to a mechanical process but that's much easier said than done, most strategies I have seen success with have some discretionary element, particularly using price action.
 
expecting a down up down day on the DOW with not much given until after lunch FTSE has a little ways to go before I start to build a position
 
not expecting any above 11440s to the upside and would like to see a late dive towards 11k
 
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