Anyone scalping the FTSE Futures??

i hate shopping

hey nice back up to that top fence lots of volume up there though maybe to much
 
MartinC-J said:
DaddyJohn, I think Latham was thinking more short term. What do you do to recognise a market that is now ranging instead of trading for the very short time frame?

I think it boils down to the price action on the 1 min chart. If the bollinger bands flatten out, and you get a series of 1 tick breaks higher and lower, then you are ranging for a period of time. The end of that range is confirmed by a breakout and retest of the break.

ps I like the bit about Money Flow Index. I haven't looked at it before.
Click to expand...

Hi, and it maybe that you are trying to trade through the algo feed time. There is usually a period of time from approx 10 am to 11.30am when most human beings DONT TRADE. They have a cup of tea and a biscuit and watch porn on the internet. The algos also reduce their size and what is left is some nasty little algo's who's sole purpose in life is to keep price in a range and take your money away from you. So they purposely set up price action to make it look like you should be going long (for instance) they then remove all the bids from the market so it drops several points and spooks you out. Ever noticed how you might take out your order only to see it move back to you???? they are now spooking the guys that went short thinking that fast down move that took you out was a signal to sell. Nasty little f****rs aren't they? my advice is watch for the drop in volume around this time and go have a cup of tea and do whatever else floats your boat.
 
Dick - I take it you are quoting the cash price?

It's been a bit volatile again to day with yet more "news events". I guess you have to ask yourself why is it higher now than at 1:30pm and in the meantime we have had two really bad numbers from the Phily Fed andEmpire State Manufacturing indices.
 
DaddyJohn said:
Hi, and it maybe that you are trying to trade through the algo feed time. There is usually a period of time from approx 10 am to 11.30am when most human beings DONT TRADE. They have a cup of tea and a biscuit and watch porn on the internet. The algos also reduce their size and what is left is some nasty little algo's who's sole purpose in life is to keep price in a range and take your money away from you. So they purposely set up price action to make it look like you should be going long (for instance) they then remove all the bids from the market so it drops several points and spooks you out. Ever noticed how you might take out your order only to see it move back to you???? they are now spooking the guys that went short thinking that fast down move that took you out was a signal to sell. Nasty little f****rs aren't they? my advice is watch for the drop in volume around this time and go have a cup of tea and do whatever else floats your boat.
Click to expand...

Many thanks DJ. I don't usually trade between 10am and 2:30pm. I have a rule that if volume drops below 50 lots per minute for the FTSE futures, stay well clear. However, volume has been higher of late in that time slot. But it wouldn't surprise me that there are some bot programs out there designed to fool people. After all if you have all the marbles how do steal the few little marbles you don't have.
 
MartinC-J said:
Dick - I take it you are quoting the cash price?

It's been a bit volatile again to day with yet more "news events". I guess you have to ask yourself why is it higher now than at 1:30pm and in the meantime we have had two really bad numbers from the Phily Fed andEmpire State Manufacturing indices.
Click to expand...

News broke that G7 central banks are coordinating efforts to provide dollar liquidity into ECB. Huge!!!!!
 
MartinC-J said:
Many thanks DJ. I don't usually trade between 10am and 2:30pm. I have a rule that if volume drops below 50 lots per minute for the FTSE futures, stay well clear. However, volume has been higher of late in that time slot. But it wouldn't surprise me that there are some bot programs out there designed to fool people. After all if you have all the marbles how do steal the few little marbles you don't have.
Click to expand...

Martin, I suspected you do the same, my comments were meant for Latham. sorry
 
MartinC-J said:
Many thanks DJ. I don't usually trade between 10am and 2:30pm. I have a rule that if volume drops below 50 lots per minute for the FTSE futures, stay well clear. However, volume has been higher of late in that time slot. But it wouldn't surprise me that there are some bot programs out there designed to fool people. After all if you have all the marbles how do steal the few little marbles you don't have.
Click to expand...

good rule btw
 
MartinC-J said:
DaddyJohn, I think Latham was thinking more short term. What do you do to recognise a market that is now ranging instead of trading for the very short time frame?

I think it boils down to the price action on the 1 min chart. If the bollinger bands flatten out, and you get a series of 1 tick breaks higher and lower, then you are ranging for a period of time. The end of that range is confirmed by a breakout and retest of the break.

ps I like the bit about Money Flow Index. I haven't looked at it before.
Click to expand...

It's possible we may see a strong leg up on the close tonight.... what you think Martin?
 
DaddyJohn said:
It's possible we may see a strong leg up on the close tonight.... what you think Martin?
Click to expand...

DJ - At the moment the FTSE has been trying to ignore the push up on the ES which is motoring up. My guess is the ES will revisit 1200 and probably push just a bit higher. I have targets of 1202 and 1208, but I won't be trading it. I will be bathing two little ankle biters and then off to 5 aside footie with some other geriatrics.
 
yeeeeeeeefriginhaaaaaaaa
of down the pub to spend my winnings
59 broke but will it stay above?
i'll be to drunk to care
so long partners
 
Thank you to both Martin and John, I appreciate your time, your replies have definitely clarified things for me.
 
Dick Lexic said:
yeeeeeeeefriginhaaaaaaaa
of down the pub to spend my winnings
59 broke but will it stay above?
i'll be to drunk to care
so long partners
Click to expand...

Dick it's not Friday yet. One more day until Yeeeeeeeehaaaaaaaa.

Latham - You're very welcome, any time you have some questions feel free to ask. It makes us think too.
 
MartinC-J said:
DC - when calculating targets, do prices printed between 9pm and 8am matter for the FTSE or Dow?
Click to expand...

hi martin no they dont I have to have a break on the bars

I see prices have printed yet another high today, this pattern in my method is rare ish but is special because of what comes next

I think you said it would come october
 
another day off tomorrow for me

a high of 5498 would be great from a target point of view although 5452 is where we get from todays action
 
dc2000 said:
hi martin no they dont I have to have a break on the bars

I see prices have printed yet another high today, this pattern in my method is rare ish but is special because of what comes next

I think you said it would come october
Click to expand...

A crash?
 
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