Anyone scalping the FTSE Futures??

[SuddenDeath]

Is it still worth looking at BLT and RIO now for any movement in FTSE on a daily basis.
Have been using it for my trading in the FTSE.

I think RIO/BLT tell us a lot about the slowdown in China and hence the sell off in commodities. RIO trend line breakdown was key driver for drop in Dax,

RIO 2870 (in london) is big support level, if that goes watch out dax/ftse

 

[SuddenDeath]

did anyone read the "mr top step" article i posted yesterday "trading 101"

 

[SuddenDeath]

FTSE100 has spent last hour in a 12pt range.

this calls for a new strategy

 

[barjon]

FTSE100 has spent last hour in a 12pt range.

this calls for a new strategy

ie: sit on your hands

 

[SuddenDeath]

Thanks v useful

htw did u watch the video i posted from oscar carboni, he loks at how the IYT/DJTR dow transports acts as a lead indicator of the markets.

Fedex and UPS

 

[barjon]

Today's homily: Once you have settled on your strategy give it your entire focus and do not look at other things - you're almost bound to tinker if you do and that's fatal.

 

[SuddenDeath]

ie: sit on your hands

hehe

I was thinking of buying if it falls 10pts and selling once it hits 10pts+

i wll lurk with buy order in hand to buy any pull back of 10pts i may have to enter minus 8 to account for the spread

so buy order at 53 s/l 43
(5453)

 

[SuddenDeath]

at 3pm we get conference board US consumer confidence

 

[klw]

did anyone read the "mr top step" article i posted yesterday "trading 101"

Hi -- Yes I read it SD , some interesting stuff in there and some a bit open to question these days.

" never let a winning trade turn into a loser "

If only there was such an easy answer as that. I've missed countless moves over the years from watching a trade start off green , come back to challenge my entry and worse , I close out because I don't want a loser and yes you've guessed it , it's gone running back the original way without me. So you can trade the way the writer suggests but you get an awful lot of break even trades , lower winning rates and a hell of a lot more screen time trying to catch the perfect moves all the time. imho of course.

" 30 - 00 - 70's "

Again here markets evolve , traders place their stops below ( for longs ) the 00 levels , MM's know this and will challenge below to take those stops out so traders place them a little lower knowing the MM's do this and of course the MM's dive a little deeper to hunt those stops , nowadays you see moves into the 60's to take out 00 stops and probably lower , it's a never ending cycle / battle of wits.

Basic stuff for you experienced guys but hopefully might be of interest for the newbies.

Great article though and thanks for the read.I've always thought the best way to learn is to read and follow what successful traders do.

 

[klw]

htw did u watch the video i posted from oscar carboni, he loks at how the IYT/DJTR dow transports acts as a lead indicator of the markets.

Fedex and UPS

Haven't watched the video yet but I used to watch DJ DJTR ( DJTR used to signal some good moves from memory ) A couple of blue chips like Walmart , IBM and VIX sometimes when I traded FTSE / DOW. Been a while since I did that.

 

[klw]

Today's homily: Once you have settled on your strategy give it your entire focus and do not look at other things - you're almost bound to tinker if you do and that's fatal.

So right Jon, just missed one of my signals through all this typing on the thread.

 

[barjon]

So right Jon, just missed one of my signals through all this typing on the thread.

you wanna try modding and miss hundreds

 

[SuddenDeath]

2.39pm

Dow +24 should squeeze higher

 

[SuddenDeath]

Haven't watched the video yet but I used to watch DJ DJTR ( DJTR used to signal some good moves from memory ) A couple of blue chips like Walmart , IBM and VIX sometimes when I traded FTSE / DOW. Been a while since I did that.

Hi klw.

Also copper is a good lead indicator

JJC us listed etf

 

[SuddenDeath]

2.39pm

Dow +24 should squeeze higher

2.41

Dow is +40 should go higher (imho)

 

[barjon]

Again here markets evolve , traders place their stops below ( for longs ) the 00 levels , MM's know this and will challenge below to take those stops out so traders place them a little lower knowing the MM's do this and of course the MM's dive a little deeper to hunt those stops , nowadays you see moves into the 60's to take out 00 stops and probably lower , it's a never ending cycle / battle of wits.

If that's the case then maybe the answer is to have a tighter stop and re-enter lower down where those naughty MMs are playing their games. Seriously, though, I think a good overall strategy has to embrace an entry strategy, an exit strategy and a re-entry strategy (even if you think of it as a "new" trade)

 

[SuddenDeath]

2.41

Dow is +40 should go higher (imho)

2.48

damn now only +22

 

[SuddenDeath]

consumer confidence news at 3pm

apparently important according to forexfactory rating

 

[klw]

If that's the case then maybe the answer is to have a tighter stop and re-enter lower down where those naughty MMs are playing their games. Seriously, though, I think a good overall strategy has to embrace an entry strategy, an exit strategy and a re-entry strategy (even if you think of it as a "new" trade)

I personally don't trade 00 levels as such but would agree that is 1 way of doing it.

 

[SuddenDeath]

Dow +1

damn