DJ - How did you get in at 4937?? Did you enter the trade before 8am? If you did that was an inspired move. Well done. Drinks are on you.
DJ - How did you get in at 4937?? Did you enter the trade before 8am? If you did that was an inspired move. Well done. Drinks are on you.
DaddyJohn
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Yes, I waited until 7.49 and 50 secs just before the auction and stuck in a position. Was scared for a moment when I saw some of the auction prices coming in well below my price, but as 8.00am came closer I could see it would be ok. Phew !! and am happy to buy the beers.
Are you watching any specific companies in the pre-market auction? I use just the top 10 companies in the FTSE, and use L2 on my IG Index DMA CFD platform.
You don't see too many occasions when an opening gap of 95 pts on the FTSE futures is closed within 35 minutes of the open. You also don't see too many days with a range of 160 pts. These are not normal markets by any means.
DaddyJohn
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I enter trades through my Stellar platform which is like TT i.e it is ladder based with DMA feed. I have the Price Ticker open next to the Price Ladder. The Ticker lists all the orders that have actually transacted, the ladder shows transactions and orders waiting to be filled. During the auction 7.50 - 8.00am the ladder stops and no orders can be entered or removed by people like me and you. This is when the auction takes place and you can see large (i mean large) volumes been transacted and the price they are at. So you can get a view where the 8am will open
You wont see any of this on a SB platform I wouldnt think.I've not come across Stellar before. What are their platform charges and fees to trade the FTSE? I always thought the auction was 7:55am to 8:00am. I use a direct access CFD platform from IG Markets. It's not spreadbetting, but the actual L2 platform for UK shares.
DaddyJohn
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It isn't cheap .... I pay £600 per month for the pro version and with that I get access to a great deal of exchanges , so I can monitor movements in Bund, Eurostoxx, S&P, Dax, Oil and Copper. It sounds expensive, but the advantages it gives you as a scalper is enormous.
dc2000
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nice views around here but you cant get a signal for love nor money these me thinking if your up a mountain there's bound to be good signal
I would have took the 140s and reloaded overnight still waiting for 180s on FTSE and 990s on DOW
depending on times hit, globex or early doors, it may be money off table and reload later in the day on FTSE
apart from the signal thing this place is fantastic
I would have took the 140s and reloaded overnight still waiting for 180s on FTSE and 990s on DOW
depending on times hit, globex or early doors, it may be money off table and reload later in the day on FTSE
apart from the signal thing this place is fantastic
DaddyJohn
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Sounds good DC... I am envius I haven't had any time away for 12 mths!!! Too busy bloody trading.. I must take some time away though and recharge. All work and no play etc etc...
Perhaps a J or a w tomorrow?
dc2000
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a J is what im after with a little fall end of day with an early drop to 5040 area
a gap up and early 5180 area would have me looking at a Z and looking to take a short for the slow grind down into the afternoon that would also move the 5304 to later in the week
on a J Im looking for a DOW reload 10935 also
great thread guys, been following for a while, posted v briefly. i do look at it every day but cant always respond as can be pretty hectic at work. thanks and I look forward to more going forward.
out of interst, anyone leaving positions overnight? ie yesterday strong rally into UK/EU close, standard US selloff around their lunch time then pretty obvious rally again into US close. With asia having closed lower the previous session - to me its v high probability that asia will rally, thus dragging all the other futures with it. - would you guys take that trade?
as an aside. the fact that the moves in the futures overnight were essentially dragged up by asia's 'catchup session' means to me it's no surprise we're having a bit of a selloff this morning.
tell u what - must be a LOT of money mngers doing their nut it these markets! volatile doesn't cover it. great for intraday tho eh.
thanks again, steve
out of interst, anyone leaving positions overnight? ie yesterday strong rally into UK/EU close, standard US selloff around their lunch time then pretty obvious rally again into US close. With asia having closed lower the previous session - to me its v high probability that asia will rally, thus dragging all the other futures with it. - would you guys take that trade?
as an aside. the fact that the moves in the futures overnight were essentially dragged up by asia's 'catchup session' means to me it's no surprise we're having a bit of a selloff this morning.
tell u what - must be a LOT of money mngers doing their nut it these markets! volatile doesn't cover it. great for intraday tho eh.
thanks again, steve
So you think 5140 and lower good to go long.
10935 still on the cards today for the DOW?
dc2000
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thats about it
its a little stronger at the moment was in early, if the DOW hits 11242 before printing a low then the downside is not over and another low target will be produced
if all goes to plan no reason to think otherwise at moment and we print low first then the targets in play are DOW11242 and11898 FTSE 5304 havn't calculated after that.
We are canyon walking today whatever that is.
Steve - if you had gone short the FTSE at the close last night at around 5130, you would have needed to take some heat of 70 pts against you in the pre market. You might have been better off seeing if you could get in short between 7am and 8am. I've noticed recently that the price action in the FTSE futures has become a lot more reliable then. But taking trades overnight is still pretty risky. They can be both very profitable and very punishing.
you talking synthetic cash (eg IG) or futures levels here?
Just to add, stops are vital. I was in long on the rally after the Japan Earthquake, then the radiation leaked and the market crashed hard overnight. All my trades stopped out, it was hard to take on the chin but better than my account being wiped out.
Ever since i have found it hard to sleep well if i keep trades in overnight.
But with good money management you can make money while you sleep.
DaddyJohn
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Looking quite bullish at the moment, This mornings strong push up on cash took price through all the potential selling prices, so potentially setting off a lot of stops. It came back and tested close to 5166 which is interesting as 5166 based on yesterdays prices shoudl have been strong resistance today, the fact it pushed through and tested could confirm a range extension and that the 5166 area is now support. But be prepared for dip down to 5148 ish as market now knows stops will have been place between 5148 and 5166
DaddyJohn
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cash open 5091 , if we assume this is the low and the average range for the last 20 days is 147 pts, we have a potential high at 5238. But given how far we have come so far, perhaps highs could get to to 5250 range , perhaps a close around 5200. Price currently at 5200, so we are moving now into selling territory, Will be watching my emas for confirmation.
Steve, I am talking FTSE Futures and not IG Indexes Cash price. I always refer to Futures price whereas DC2000 always refers to cash price unless notified otherwise. We try our best to confuse you.
Could do without all this euro stuff going on. The market clearly want to go up, but it has twitched twice. First with Binbag Smaghi, and now the new iron lady, Mrs Merkel.
At least IG will stop you out during out of market hours, whereas futures market only works when it's open.
