Anyone scalping the FTSE Futures??

Away from the desk most of the day.

Picked up some longs in the morning.

Lady luck closed me out in the last hour rally in the cash session.

Done for the week.

Looking at Aussie banks might find sellers going forward, with only divs holding the market at these levels.
 

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swissy said:
FTSE indecisive - plenty of upside still imo but needs something to get the buyers in. Keeping an eye on WTI oil and cable atm.
Click to expand...

I've been short all morning. 2 trades. 14 points. Slow but steady. I could watch the colour of the price marker from a distance, while doing other things.

I've found a new method to try out and a market that is not too bouncy suits me today.
 
Splitlink said:
I've been short all morning. 2 trades. 14 points. Slow but steady. I could watch the colour of the price marker from a distance, while doing other things.

I've found a new method to try out and a market that is not too bouncy suits me today.
Click to expand...

Hi Split,
What's the new method? And btw I stick to the FTSE, better to get to know a market and get a "feel" for it, if you want to make bigger bucks you can always up your size and scale in imho, however I need to prove I am consistently profitable and gradually moving forward in that market before committing. I am probably against the grain on this one but I stick to one market, I have enough on my hands concentrating on managing my trades and looking for entry and exits levels rather than jumping around trying to spread the jam on other instruments.
Glad it has worked out for you (y)
 
swissy said:
Hi Split,
What's the new method? And btw I stick to the FTSE, better to get to know a market and get a "feel" for it, if you want to make bigger bucks you can always up your size and scale in imho, however I need to prove I am consistently profitable and gradually moving forward in that market before committing. I am probably against the grain on this one but I stick to one market, I have enough on my hands concentrating on managing my trades and looking for entry and exits levels rather than jumping around trying to spread the jam on other instruments.
Glad it has worked out for you (y)
Click to expand...

It's no good showing you new methods that are as old as the hills! The main thing that keeps me out of trouble is to put a stop about 20 points away, in case something bad happens. But trades go into profit in a short space of time,or I close manually.

It's a matter of personal opinion, really. Where one thinks there is an opportunity may be considered a lousy idea by others!

We appear to be similar in outlook. I, too, only trade FT, for the same reasons as you and I'll keep a trade open after hours but, because of the spread increases, I go to US tech to open any new ones.

I have an inherent distrust of all who trade against me. There is so much sophisticated software about these days and getting better all the time. The market edges slowly, but surely, towards the stop areas. That is one clue in where to enter, I supopose, but things happen in nanoseconds.
 
Splitlink said:
It's no good showing you new methods that are as old as the hills! The main thing that keeps me out of trouble is to put a stop about 20 points away, in case something bad happens. But trades go into profit in a short space of time,or I close manually.

It's a matter of personal opinion, really. Where one thinks there is an opportunity may be considered a lousy idea by others!

We appear to be similar in outlook. I, too, only trade FT, for the same reasons as you and I'll keep a trade open after hours but, because of the spread increases, I go to US tech to open any new ones.

I have an inherent distrust of all who trade against me. There is so much sophisticated software about these days and getting better all the time. The market edges slowly, but surely, towards the stop areas. That is one clue in where to enter, I supopose, but things happen in nanoseconds.
Click to expand...

Good post Split and I know exactly what you mean ref stops and stop areas. Over the years my methods have now focused on risk reduction after placing a trade, it's multi- faceted and a finely balanced skill and you have to be able to try and read the market so you optimise entry's and don't get stopped out too early... The mechanics can be taught I suppose but the execution can't be, you have to pick this up through experience.

I doff my hat to traders that trade multi-markets and instruments... How on earth they manage I'm not sure but I do know it won't work for me and my method of trading.
 
FTSE - pre-market fill from 6930 to 6911. Good levels to play. Think bear trap around 6900 - 6890 so be careful. Could move up to 6940 - 50. Depends on US/oil after. Overall think we could have fakes either way to suck in punters, so will play the levels carefully. Lets see.
 
FTSE - bumping around 6920 - something's going to pop...soon, think sharp down (retest 6910?) followed by up 6940 ish.. lets see!
 
expecting quiet day judging by the open time to go and do something else short ftse limit 6903
 
After 5 days consolidating, Last Friday we had an inside day in Dax. It seems we have a good long entry today.

.............................................
Happy trading
 
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