Anyone scalping the FTSE Futures??

[joseph1986]

this is actually pretty crazy for after hours

 

[joseph1986]

the fact that it hit 6179 is pretty amazing..........

 

[piphoe]

add to my DOW short here...

 

[swissy]

Hi Everyone,

I wanted to introduce myself & ask a few questions of the members in this thread. I have been paper trading for a while but without much success as I don't know which indicators are the most reliable & how they should be set - up. I am using an Mt 5 demo & 1, 5 & 30 minute time frames trading the ftse. I have dabbled before but nothing serious so I am familiar with charts support/resistance etc. I would love to be able to Trade full time as after an accident I am now unable to go out to work. Any information about your own set ups & which indicators you find give you the best signals & how you use them would be greatly
appreciated as I am now the sole breadwinner in the family..if I can succeed I would like to trade the ftse future as I like the way it moves....Once again thank you all & I look forward to hearing from you..

Hi Silverlight...I don't know really where to start but to say you are putting far too much pressure on yourself as the sole breadwinner in trading.... unless you have a big reservoir of cash and are prepared to lose some, its a difficult game and its best to have an alternate source of income when you start at least.
Having said that if you are determined to trade, trade management is the key to success not indicators etc and you need to get some experience and get bitten a few (a lot!) times to learn the lessons.... start small live and stay small until you build consistency.
There are plenty of helpful types and threads for beginners on this site and if you are determined to give it a go I suggest you check them out and then develop whatever style of trading works for you.
Good luck.

 

[piphoe]

Hi Everyone,

I wanted to introduce myself & ask a few questions of the members in this thread. I have been paper trading for a while but without much success as I don't know which indicators are the most reliable & how they should be set - up. I am using an Mt 5 demo & 1, 5 & 30 minute time frames trading the ftse. I have dabbled before but nothing serious so I am familiar with charts support/resistance etc. I would love to be able to Trade full time as after an accident I am now unable to go out to work. Any information about your own set ups & which indicators you find give you the best signals & how you use them would be greatly
appreciated as I am now the sole breadwinner in the family..if I can succeed I would like to trade the ftse future as I like the way it moves....Once again thank you all & I look forward to hearing from you..

I don't trade FTSE so i can't be of help there. The DOW (YM) and a few currencies that's all i do actively. As for "setups & indicators"...don't know of any that does not also require lots and lots and lots of screen time experience to back them up.

There's no "standalone" set it and forget indicator that I'm aware of, or setups either. In my experience, they can be of help in visualizing market price action but by no means can you just go off them (imo). Takes a "feel" for your instrument also.

Good Luck to you!

Also, don't start trading real cash right away. Put a lot of time into a good demo, or just record the trades that you WOULD HAVE TAKEN if you were LIVE. Be careful to take the trades just as you would live, so as not to develop bad habits. You won't have REAL MONEY at stake so the experience is not exactly the same. IOW, you won't have the fear of god in you on a demo when it goes against you like you will with real money. But you want to be as honest with yourself as possible and take those virtual stops and losses.

 

[piphoe]

i knew i was too early right after i added to that DOW short. NOW i should have shorted! :innocent:

 

[piphoe]

Thinking some more, you may need AT LEAST 10,000 hours of actual screen time ...ie FACE TIME in front of the farking screen watching the PA. If you have latent innate traits that make for a good trader, that is.

If not, if some personality quirk or otherwise 5, 6 or even 7 or more TIMES that many face time hours.

and even then, you may not be successful.

ya, i'm talking YRS sitting watching a laser light show in your dark room, before you are even ready to trade real money still wanna do it:cheesy:

 

[piphoe]

the blinding light show...and that it is!

 

[swissy]

Scalp S 6178 on retrace..could be a breather..tight stop

Out @6173 - think it will go lower but don't want to be a hostage to fortune as my platform closes trade on FTSE at 2100hrs UK local time.

 

[piphoe]

the bulls will not go so easily, as for that matter they won't go at all. however, they want to sell a little, take some profit if you will.

so the question is, if short from above, where to to get out

i'm now even on my shorts;should get out should i hold??

 

[piphoe]

another leg down to about 650 is my cover (after careful anaylisis)

i got lucky, and i won't press it.

 

[piphoe]

i'd love to see capitulation here...

 

[piphoe]

exit DOW shorts

buy here

 

[piphoe]

lets go back to just above 680 YM

 

[piphoe]

only thing i worry about here is all the BULLS get a sudden case of low self-esteem

it's not me it's you. no it's me

show us that huge BULL SACK you been sporting all day

 

[piphoe]

silverlight, that's reminds me..

you got to learn the difference between when you're lucky and when you're smart.

won't always be apparent

 

[piphoe]

bounced off my 650...no where's my 680???

 

[piphoe]

push push it up...

puuuuuuuush
let's get some green under us..

and blue sky above us

 

[piphoe]

retesting 650 again? after a day like today? i can only conclude they are trying to rinse out weak longs here.

 

[piphoe]

buying more DOW here

680 target.

there gonna walk this down...to where? they got nowhere to go, but up