Anyone scalping the FTSE Futures??

My turn to commiserate! I am within 8 points of getting yesterdays 30 point loss.
back. Just taken profits and hope to get back in soon.
 
This is one argument for not letting losses get too large. It takes an awful lot of work to get it back, again (all day, so far, to get 22 points ) and, yesterday, my stop was taken out in 30 minutes
 
Splitlink said:
This is one argument for not letting losses get too large. It takes an awful lot of work to get it back, again (all day, so far, to get 22 points ) and, yesterday, my stop was taken out in 30 minutes
Click to expand...

when scalping i use about 4p stop loss, the minimum i can get away with.
 
From Goldman's Sales team:

Stocks off just shy of 1%, which erases most of yesterday’s gains, which erased most of Monday’s losses. After tomorrow, will you be able to say that Thursday’s gains erased most of Wednesday’s losses, which erased most of Tuesday’s gains, which had erased most of Monday’s losses? With apathy running high and conviction low, that sounds just as reasonable as anything else.

from the great website, trading advantage
 
The trendline on the 30M chart has not been taken out, yet. We may have a drop down before the day is out.
 
SuddenDeath said:
when scalping i use about 4p stop loss, the minimum i can get away with.
Click to expand...

I, normally, use close stops, too, but I am experimenting at the moment with something new. Today, no experimenting, though, my stops were 10 points including spread. :)

4 points on FT is very close. You must be in and out like a dose of salts
 
Splitlink said:
I, normally, use close stops, too, but I am experimenting at the moment with something new. Today, no experimenting, though, my stops were 10 points including spread. :)

4 points on FT is very close. You must be in and out like a dose of salts
Click to expand...

the research suggests if u have an idea on market direction then use a very large stop like 50pts,

ie place your stop where u think it will not get hit.

imagine using a 50pt stop loss, if it does not get hit one day u have 50% chance of profiting the following day. the stop exposes you to two days of volatility, ie like buying a lottery ticket which can be used on one extra occasion free (ok minus the overnight vig)
 
SuddenDeath said:
the research suggests if u have an idea on market direction then use a very large stop like 50pts,

ie place your stop where u think it will not get hit.

imagine using a 50pt stop loss, if it does not get hit one day u have 50% chance of profiting the following day. the stop exposes you to two days of volatility, ie like buying a lottery ticket which can be used on one extra occasion free (ok minus the overnight vig)
Click to expand...

Yes, I agree. If I had put a 50 point SL on, yesterday, entering the market at 5440 I would, still be in the same trade now nd would, probably, close at a loss and be disgusted at the same time.
 
evenin', sd - hope you haven't been just talking to yourself too much today
 
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