Anyone scalping the FTSE Futures??

Nakotrade said:
Yes - based on last two weeks what I have learned, I would have different approach to my trading now. I haven't paid much attention to indicators as much as should. I started to try them out lately within learning trendlines. Now I also have better understanding when been following this thread and learning from you guys.

At the moment I'm trying out Williams% and RSI both together. What do you think about them?

I couldn't find Ema on my Mt4, does it have another name? is this a good description http://www.investopedia.com/terms/e/ema.asp It's suggesting that it would be good to use Ema together with Sma? those numbers are unfamiliar at the moment for me ^^

and thanks for the Demark-link, I'll read it through.
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I don't use any indicators, just ema (exponential moving average) Mt4 will have them. Sma simple moving average, they do of course lag the price action but they are a good visual reminder of change when they cross. Get a good working knowledge of candles and price action google them there is a ton of stuff out there.

De Mark is very good on Tls draw form right to left very accurate, I use a 4hour TF to draw lines and a 1 hour chart for entries.
 
Nakotrade said:
Yes - based on last two weeks what I have learned, I would have different approach to my trading now. I haven't paid much attention to indicators as much as should. I started to try them out lately within learning trendlines. Now I also have better understanding when been following this thread and learning from you guys.

At the moment I'm trying out Williams% and RSI both together. What do you think about them?

I couldn't find Ema on my Mt4, does it have another name? is this a good description http://www.investopedia.com/terms/e/ema.asp It's suggesting that it would be good to use Ema together with Sma? those numbers are unfamiliar at the moment for me ^^

and thanks for the Demark-link, I'll read it through.
Click to expand...

sorry if I get involved...... I think they are rubbish.....indicators are further away.....also candles are indicators but much closer to price which is also an indicator.....reading price with all its psychological mirrors and tricks is already not that easy, why make it more complicated with something that could make it even more complicated? But that it is only me...

Personally I use the 20ema on my chart but to tell the truth I rarely look at it......I just keep it there because it has always been and I feel bad.......
 
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As for stops I use 50% of the 4hourly ATR if I'm trading the 1 hour chart and a whole stop plus a bit for the daily TF. Also you can often see the price overshoot a support or resistance line by 15% of the ATR so that's a good place for stop.
 
I see the breakout that everyone has been waiting for on the Dax just got eaten alive. I wonder how many orders got sucked in.
 
Fugazsy said:
sorry if I get involved...... I think they are rubbish.....indicators are further away.....also candles are indicators but much closer to price which is also an indicator.....reading price with all its psychological mirrors and tricks is already not that easy, why make it more complicated with something that could make it even more complicated? But that it is only me...

Personally I use the 20ema on my chart but to tell the truth I rarely look at it......I just keep it there because it has always been and I feel bad.......
Click to expand...

I think I like the trendlines way better and would like to learn more and practice to draw them more efficiently and correctly combined with understanding the price action. Trendlines seem to make a lot more sense than any technical indicator what I see at the moment. Indicator might help to give an idea and direction of what might possibly happen.. hmm
 
This is only my perception and it is friday night here.....

naked is not easy, I know.... but trading with indicators is like making love with your clothes on.....(what?)

anyway... do I really need an indicator to tell me what is going on or it is just my anxiety trying to find an excuse because I am not able to read what is in front of me?

I think that is a good question to ask ourselves, what is the indicator going to do for me? Confirm something that I am not sure about and to tame my anxiety about it? Would it better to face my fear and look at reality into the face? The time it is confirmed smart traders are already selling it to me covering their profits.

For example I often enter trades when a bar (5m) in the first 4 and half minutes looks like a a very strong bull bar and in the last 30 seconds pulls back to end like a reversal bar in the opposite direction, especially if it form a false break at some kind of resistance.....which indicator is going to tell me what is already in front of me?

only sharing...
 
The only indicator I use is RSI. And I don't use it as a method of telling me exactly when to buy or when to sell. I use it to stop me over trading. I get a lot of signals on the lower time frames but unless the signals occurs with an RSI extreme, I don't trade it. I guess i use the RSI purely as an activation switch, then a signal itself

As Fug says, Its all about how you use them
 
Nakotrade said:
I think I like the trendlines way better and would like to learn more and practice to draw them more efficiently and correctly combined with understanding the price action. Trendlines seem to make a lot more sense than any technical indicator what I see at the moment. Indicator might help to give an idea and direction of what might possibly happen.. hmm
Click to expand...

trendlines are good in my opinion but not all of them, some have significance other do not, but we can filter them by the reaction when they are approached.

I prefer levels but TL are also in my agenda as with a few more.....

"Know YOUR levels and trade THEIR pain".
 
ffsear said:
The only indicator I use is RSI. And I don't use it as a method of telling me exactly when to buy or when to sell. I use it to stop me over trading. I get a lot of signals on the lower time frames but unles the sighnal occurs with an RSI extreme, I don't trade it. As Fug says, Its all about how you use them
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Make sense to me, if it helps you getting out of trouble, then his use is worth.

But If I may say, also candles can tell you when to stay out......a bar that is not a trend bar is considered a range bar in my book, when it is printed, buying above that bar it is not such a good idea, because in a range is better to sell the top and buy the bottom....so you either do that if it is worth or stay out, actually in my book they are the best chances, as you know market ranges 70% of the time, so fading the new extreme (in range) is an high probability trade, but when the push is too strong wait for a second entry and must not be less expensive than the first otherwise is a trick and the idea is not to be tricked but wait for the others to be tricked before we enter......sorry.. I hope I make a bit of sense...
 
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some still running....
 

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np74 said:
DOW moved +50 points , was worth going long at that time, whats your thought?
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this is what ive got dax & dow, 4h & 1h respectively. support suggested go long, but im just an amateur and may be chatting utter ****
c042e3e7ca2ec87b376aa9f8d191f927.png
 
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