Anyone scalping the FTSE Futures??

[inzimam]

John

I have to admire your honesty in your posts and admit they have helped me a lot. I have exhibited the exact same madness while 'trading' racking up massive losses and even yesterday had a big loss but not account blowing in size though.

Seeing your posts made me more cautious and brought me back down to a safe level for my own sanity and bank balance!

Don't take it the wrong way but you gotta take a break. I feel your stress.

Today I traded positions a fraction of the size of my usual sweat inducing ones. I felt no stress, made some money and felt really good!

Postman's recent post on size and earnings was really good. You can only make money in a reasonable proportion to your account size without the risk being too great.

You can check my posts here.. I once made £20k from a £5k account in 3 months. Then in a few days of emotional trading it was wiped out. Dark days!

I deliberately keep my account small to limit my leverage but have found recently I was topping it up soon after I had some big losers. Old habits...

Don't chase the money you've lost. Preserve what you have left.

Good luck! I genuinely wish you well.

 

[Dentalfloss]

Dow overnight

 

[Dentalfloss]

Data is merely a minor inconvenience to the standard pump the stock market mentality

I'm glad i dumped my Dax yesterday, took a few small long positions today and have clawed back a chunk of the loss already

Dow small long closed here even though i said I'll hold for the rest of the month.. Forgot its nfp Friday

👄👄👄👄👄....Excellent

 

[Dentalfloss]

 

[postman]

But all the released data are negative than expected, there is no strong support for the stock market to go up really.
...

Data is merely a minor inconvenience to the standard pump the stock market mentality
...

Victor as you can see inzimam has been trading for a while and understands that "news = noise" the market is not knocked off track by most news stories. We as humans look for patterns or 'cause and effect' and attribute market moves to news stories. I stopped watching any financial news years ago.
Financial news is like a horoscope and exploits peoples psychology in that they look for information which confirms their own ideas and disregard information that opposes their ideas. All the news channels will put out stories saying "x" data will be bad for stocks and then hours later a story saying "x" data is good for stocks. Our own confirmation bias will pick the news stories we want to hear and ignore the others.

 

[luckyvictor]

Victor as you can see inzimam has been trading for a while and understands that "news = noise" the market is not knocked off track by most news stories. We as humans look for patterns or 'cause and effect' and attribute market moves to news stories. I stopped watching any financial news years ago.
Financial news is like a horoscope and exploits peoples psychology in that they look for information which confirms their own ideas and disregard information that opposes their ideas. All the news channels will put out stories saying "x" data will be bad for stocks and then hours later a story saying "x" data is good for stocks. Our own confirmation bias will pick the news stories we want to hear and ignore the others.

So from the technical analysis point of view, how should I see and trade the graph yesterday?for that drop and V shape bounce?

Also, just a theory for discussion, DAX is back from holiday, and a gap is left to be filled. Dax is highly correlated to Dow. So if the gap will be filled in this case is a down move, will it bring Dow down as well? There is rejection at 12000 and 26300 this morning already.

Would I be likely that we see both dax n Dow travel down first and nfp bring it back up?

Just wanna have some idea how I should see the chart today

 

[postman]

So from the technical analysis point of view, how should I see and trade the graph yesterday?for that drop and V shape bounce?

Also, just a theory for discussion, DAX is back from holiday, and a gap is left to be filled. Dax is highly correlated to Dow. So if the gap will be filled in this case is a down move, will it bring Dow down as well? There is rejection at 12000 and 26300 this morning already.

Would I be likely that we see both dax n Dow travel down first and nfp bring it back up?

Just wanna have some idea how I should see the chart today

Only one index I know consistently fills gaps ie 100% of the time and that is the s&p.
I have wasted time and money waiting for others to 'fill gaps'. Thats just my experience and I trade a relatively small number of indexes.
I could tell you what I think the dax will do when it opens but its open now so thats a bit harry hindsight.

 

[luckyvictor]

Only one index I know consistently fills gaps ie 100% of the time and that is the s&p.
I have wasted time and money waiting for others to 'fill gaps'. Thats just my experience and I trade a relatively small number of indexes.
I could tell you what I think the dax will do when it opens but its open now so thats a bit harry hindsight.

Please still Share your vision so I can learn how u see things.

What I see is it is sitting at the support level, although it had just made a small punch to the down side, no obvious direction is given.

 

[postman]

Please still Share your vision so I can learn how u see things.

What I see is it is sitting at the support level, although it had just made a small punch to the down side, no obvious direction is given.

My 'vision' comes from a one minute chart and tic chart and sitting in front of it 8 hours a day.

 

[postman]

victor you talked about V shaped reversals well the dow is the market for that, the ftse doesnt do those. So that lame ass market in London is going to limp down to yesterdays lows and mope around there for a while before hauling itself up at a rate that would make a snail proud.

Short the ftse.

 

[postman]

@luckyvictor

Why do you think the Dow and the ftse look so different over a 10 year period - hint check out how they calculate the price of the index! Then think about how this would affect the different way you trade these markets.

 

[richardb37]

morning all - typical fridzy pre nfp - but short ftse at 107.5 tgt yesterdays close or thereabouts

 

[Dentalfloss]

 

[Dentalfloss]

 

[Dentalfloss]

 

[richardb37]

took half at 84

 

[postman]

took half at 84

Short the ftse its not rocket science, always pays the bills.

 

[richardb37]

all out at 82

 

[richardb37]

Short the ftse its not rocket science, always pays the bills.

nealry exited tbh - but held with stop at 115 so pleased with the result plus i'm not the sharpest tool in the box

 

[luckyvictor]

@luckyvictor

Why do you think the Dow and the ftse look so different over a 10 year period - hint check out how they calculate the price of the index! Then think about how this would affect the different way you trade these markets.

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How they actually calculate differently?