Anyone scalping the FTSE Futures??

[Dick Lexic]

what happened at 3.30 ?

it hit the 2009 high sd....taking my stop with it

 

[DaddyJohn]

Was you in on it DJ? There was a nice pull back to jump on.

I missed DC's call, so the one in feb was 4900 and something and this new one was above 6000?

Your the new Taylor man, have you decrypted it?

Hi Reska, am feeling rather smug I must admit I was long DAX yesterday at 6404 and I bought Rio Tinto just after the US open yesterday... I have let these run over night ...

 

[Dick Lexic]

I can hear Dick crying into his beer from here

wouldn't waste good beer

 

[barjon]

it hit the 2009 high sd....taking my stop with it

well it was a boredom trade, DL, not one of the better signals to work from

 

[DaddyJohn]

Hi Reska, am feeling rather smug I must admit I was long DAX yesterday at 6404 and I bought Rio Tinto just after the US open yesterday... I have let these run over night ...

but of course smugness in this game is fleeting.. so watching and hoping I have caught a strong bottom ... DAX has gained strong support for three days now at the 6400 level whichis a big number for the DAX... but I did expect it to do a cheeky pop down to 6350 for good measure... so I have a nice wide stop and will sit back for a while... in terms of Taylor... I still use it , but it is only really, really useful if you can identify with some accuracy where the market will stop and what profit objective the market has. Taylor helps to then map out the potential route ...

My ability to identify highs and lows and profit objectives is getting much better, but no where near as good as DC's was.. I wish I knew half of what he knew.

Anyway ,, onwards on upwards ...

 

[DaddyJohn]

wouldn't waste good beer

have you mooned at the market recently Dick?

 

[barjon]

9:00 approaching now and still in no man's land. Might get some movement one way or t'other though.

 

[Dick Lexic]

well it was a boredom trade, DL, not one of the better signals to work from

to be honest i thought it would have worked out ...just that little spike down

 

[Dick Lexic]

have you mooned at the market recently Dick?

yes you should try it dj ....it's therapeutic you know ..but don't let the wife catch you

 

[barjon]

long 5520 will hedge at 15 if necessary

 

[SuddenDeath]

markets all quiet until 1.30pm US jobless data

 

[Sidekicker]

Sidekicker - you could open a DMA account with Open Ecry. No data feed fees or application fees. You will have to declare any earnings at tax time, which can be complicated if you want to make it so. Also with FTSE, the smallest you can go is £10 per pt. Otherwise I think OEC are great.

It's a close decision tbh.
With spreads at only 1 and the tax implications, it's much of a muchness going SB or DMA on the FTSE. It's simply just the 6pt overnight spread that I feel is a bit ridiculous.
Any ideas what the overnight DMA spread averages out to on the LIFFE?

 

[Sidekicker]

there is a saying "amateurs open the market and pro's close it"

That will be all those amateur market fund and pension fund traders opening the market then

 

[SuddenDeath]

It's a close decision tbh.
With spreads at only 1 and the tax implications, it's much of a muchness going SB or DMA on the FTSE. It's simply just the 6pt overnight spread that I feel is a bit ridiculous.
Any ideas what the overnight DMA spread averages out to on the LIFFE?

The capital tax gains can be easily avoided, for a small fee

 

[DaddyJohn]

The capital tax gains can be easily avoided, for a small fee

do tell.. am all ears...

 

[DaddyJohn]

FYI...... I recently opened up an IG Index account as it has more instruments to trade than my capital spreads account ...(I use CS for scalping as the it is easier to use and margins slimmer after 4.30) I use the IG account for swing / weekly holds.

IG have an advanced charting package that they charge £35 per month for or free if you do a small number of trades per month with them. I have to say ,, for a freebie charting package it is very, very good.. it has al sorts of stuff that I wouldnt get with e-signal unless I poaid huge bucks... the Gann tools are excellent... really helps you int eh squaring of price and time analysis...

 

[Sidekicker]

The capital tax gains can be easily avoided, for a small fee

Only if you can work up enough expenses to avoid them surely?
Is OEC a USD account? Would prefer a UK one really, paperwork for futures in the US and fx fees are a pain.

If you take a simple £10 trade on SB = 1 contract on DMA, then you end up paying
£10 spread commission on SB
£5 spread on DMA unless you use limit orders + £1.70 commission (not sure if that is each way).

If you make over £10,600 a year then it'd be pretty close I think based on these (some at 18% some at 28% CGT)

But if there's no SB firms offering low overnight spreads then it's an easier choice assumin spreads on the futures markets are less than 6.

 

[barjon]

paired it now @12831

 

[SuddenDeath]

do tell.. am all ears...

"small fee"

 

[SuddenDeath]

Only if you can work up enough expenses to avoid them surely?
Is OEC a USD account? Would prefer a UK one really, paperwork for futures in the US and fx fees are a pain.

If you take a simple £10 trade on SB = 1 contract on DMA, then you end up paying
£10 spread commission on SB
£5 spread on DMA unless you use limit orders + £1.70 commission (not sure if that is each way).

If you make over £10,600 a year then it'd be pretty close I think based on these (some at 18% some at 28% CGT)

But if there's no SB firms offering low overnight spreads then it's an easier choice assumin spreads on the futures markets are less than 6.

nothing so complicated, lets say you are very successful and make £200,000k u can avoid ALL the taxes on this without doing anything illegal and the money does not have to be hidden, is it will not be black money it will have a legitimate source