Anyone scalping the FTSE Futures??

I would add that volume has dropped very low, so I don't see much happening until we get an increase in volume on a move above 5013 or below 4987.
 
For those that like trading the news flow.. you will know that USA ISM Manf is out at 3pm today... keenly watched number. ISM is just the headline number, it is made up of several different components e.g new order, inventories, prices etcc... there is also an employment component. Once the market has reacted to the headline number it will quickly turn it's eye to the employment component as this has bearing for the Fridays NFP figure.. you can see this by going on to the ISM Supply Management website , at 3.01 pm. A strong ISM headline coupled with a stronger employment number , will usually push the market even higher... however,, if the headline is good but employment is down,, then it will usually turn round again... given the short squeeze this week, I would not short this myself,, but use it as a gauge as to how far we will see a pullback .
 
I am a scalper usually, but for once am on a buy and hold approach today.. I have a question for the swingers amongst us... what rules do you use for adding or taking profit during the day... or do you just leave the whole position on until target hit?
 
Dick, I always use FTSE Futures prices, and the high of the day so far is 5013. For a genuine break above this, I need to see a move above it by at least 2 pts, but more importantly I want to see an increase in volume above this level, and then a continuation entry on the 1 min chart. A continuation entry is a 1 tick move above the high of a prior 1 min candle, after it has had a pullback.
 
DaddyJohn said:
There is talk that some of the exchanges have "allegedly" given data to the algo companies that shows where traders tend to have stop (ie how far away) ,, it is also poosible for the algos to scan the order book and see if the order belongs to a real human (they are tagged) One of the traders I work with who is very, very successful is convinced that the algos know his unique Mnemonic and purposely ensure he only gets partial fills. I know it all sounds very conspiracy theory.. but I have enough stories from well connected traders that should make us worried. This is one of the reasons why the USA, UK and Europe are now investigating the high frequency algo companies and the relationships they have with the exchanges. In fact they have demanded they hand over the code and explain how they work and for the exchnages to hand over their pricing policies...... as I say this is all alledged... answer is to scalp with a smaller size and have a wider stop, but look for a longer gain. If I am scalping I do not use a stop... I know this is seen as bad practice, and I wouldnt advise it to anyone , ... but I do trade using price ladders and I can see from the order flow when the algos are just spoofing the market down to traders stops , then I will add to my position ccc.. In volatile time (like now) I will have a stop in all day.. but way down the market... this is there only if soemthing really blows middle of trade i.e. bank goes bust, or N Korea fires nuclear missile
Click to expand...

GCSE's agian General Clerances of Stops Excercise :smart:

rule 1 - don't trust anyone even your granny

rule 2 - always remember rule 1 :LOL:
 
I have to say , this swinging business is rather jolly relaxing... I have even had time to go for a walk and have a sandwich this morning... and other things!!!
 
I think relaxing is very over rated. Why let your finger nails grow? What purpose could that serve?

Well we got the breakout above 5013 on better volume, but nothing massive, which makes me think the breakout doen't have any legs. It has come back to retest the level of the breakout. Let's see if it motors up from here. Short term target 5035.
 
OK folks......

I am sick and tired of this

No matter what I do , no matter how many points I make in real time and prove myself.....It's never enough!!

I made + 350 last week and it still wasnt enough

I can make 1000 this week and still people will criticize

I am out of here

Those of you who are upset then please email the admin team and put your complaints forward.

I am not going to sit here day in day out and hear negativity...it affects my trading ability.

If anybody wants help please feel free to PM me.

adios amigos
 
wallstreet1928 said:
OK folks......

I am sick and tired of this

No matter what I do , no matter how many points I make in real time and prove myself.....It's never enough!!

I made + 350 last week and it still wasnt enough

I can make 1000 this week and still people will criticize

I am out of here

Those of you who are upset then please email the admin team and put your complaints forward.

I am not going to sit here day in day out and hear negativity...it affects my trading ability.

If anybody wants help please feel free to PM me.

adios amigos
Click to expand...

What was that all about? What negativity? You must have been PM'd by some grumpys. You are very welcome to post here. Any advice is always appreciated.


That PMI number was somewhat expected. Let's see how far up they can take it.
 
wallstreet1928 said:
OK folks......

I am sick and tired of this

No matter what I do , no matter how many points I make in real time and prove myself.....It's never enough!!

I made + 350 last week and it still wasnt enough

I can make 1000 this week and still people will criticize

I am out of here

Those of you who are upset then please email the admin team and put your complaints forward.


I am not going to sit here day in day out and hear negativity...it affects my trading ability.

If anybody wants help please feel free to PM me.

adios amigos
Click to expand...


wallstree.. I dont see any negative comments .. what is the problem?
 
DaddyJohn said:
wallstree.. I dont see any negative comments .. what is the problem?
Click to expand...

there are a few Irritating chaps on my blog that are affecting my market psychology

I am a person that doesnt like negative comments as it shows ingratitude

I have remained silent ever since the dispute and not said a word even though people continue to slander me.

I am on holiday and I still post my set ups and analysis..but some people still dont appreciate!!

it is better If go silent and stay off trade2win due to negative energy
 
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