Anyone scalping the FTSE Futures??

went straight down for FOUR HRS. now THIS time they won't buy here? lol

putting a fib on that drop is 76% = 26900 :D

50% = 26780
 
SqueakyMouse said:
Thanks for the encouragement! The tax point definitely makes sense for UK traders.

My setup monitors ~30 futures markets and trades in ~18 of them. There is a (crude) process for monitoring daily range, tick value, and all in RT costs (in instrument currency) to give a guide to which markets are cheap vs expensive to trade. The assumption is I always also pay a spread of 1 tick per RT which isn't 100% accurate but gives a workable guideline. See the "ratio" column in the attached screengrab:

View attachment 267802

I'd find it very hard to replicate most of what I do on a spreadbetting platform but can see from your posts that you can find sufficient opportunities in YM and execute very accurately. Another question, if you don't mind: your bigger picture calls seem very accurate, but I believe you've stated that higher timeframe trading didn't produce as well for you. Is this purely a personal preference or was it significantly harder to model conditions further out in time?

Last week I see also the need for the US to move lower so not trusting any upside beyond an intraday rally, but two swing buys in the ES 2955 area (similar to your Dow zone but not quite as deep) last week (Tuesday and Friday I believe) worked out well. I've considered allocating some risk to longer term trades via options as I wouldn't want exposure in leveraged outrights overnight. The spreads on IG are quite reasonable on some of them, and you're guaranteed a fill (unlike futures options where you'll frequently not find a counterparty at a fair price and would need to offset your exposure in the underlying and wait for expiry). Nudges gratefully received.
Click to expand...
Wow, that's a serious set up! Bet you know your fees 😝 BTW some major changes coming with regards to commission rates. Schwab already doing zero rate in some products, so others will follow for sure.

the markets had been artificially held up to accommodate the option expiry. Now that's been and gone we can shake this down into 26400/500 zone, then test a few times, then get on board for santas seasonal greetings!

With regards to your Q - I simply prefer to have a bigger size for shorter moves as it suits the way I cope emotionally. Longer time frames mean less size and more possibilities of self doubt (for me, not everybody). Each to their own of course. Hope this helps?

Hope you milk those markets - all of them 😜
 
luckyvictor said:
Looks like we have a downtrend now, and with the 'good' fundamental reason, why would you expect it to rise?
Click to expand...
Because fundamentals havent been driving this market for years. Its all propped up by the Fed until confidence comes back.
Every time it falls it rockets back up again - Without fail!
This is a typical Monday fall followed by a drop overnight and a gap up on Tuesday, you must have seen this pattern a hundred times before.
 
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