Anyone scalping the FTSE Futures??

[wallstreet1928]

is you stop loss always around 100 points?

no my friend

normal stop loss = 25-30 points ....

targets usually + 30 to + 50 points

I am unable to keep track and observe everything at present due to being on holiday. I normally keep everyone updated and give live commentary and trade management via text messages

Also given the recent volatility one has to increase stop loss ........SO if I was back in the UK I would use 50 point stop

 

[wallstreet1928]

re-entering long ftse from here

4958 upto 4930 if need be

avg = 4945 region

stop loss = 4850

tgt = 5050 , 5100

Support has held well @ bottoming wick @ 4930 previously on 23rd sept @ 13.00

so far so good

lets get ready to roll

target today = + 200 points as + 100 already made before 9am

+ 200 points so far this week , hopefully + 300 by the evening

 

[wallstreet1928]

FXstreetNews FXstreet.com News
UK: PMI Construction declines to 50.1 in Sep from 52.6 bit.ly/dwMzKc

 

[MartinC-J]

FTSE Futures... some noce profit this morning on short positions out at 4914... will not turn bullish until we are back over 4943/ 51 --- possible lowside today in my view of 4889 - which we just nearly touched.. if we get through this then possible low of 4851

John, I actually thought it would go down to 4868 (1.618 extn), just below the low of August 9th. I too caught the nice move down, and then I started messing around at the bottom around 4910 and gave half of it back. I kept looking for a blow off low with some volume. The only minute with massive volume was at 8:54 when volume spiked on the move down. It was hard to tell if this was money coming in or people selling on the break of a level. It then formed a rounded bottom reversal which lacked conviction for me. Maybe we retest the low of 4906.5 and go lower.

 

[wallstreet1928]

argument no 1 for short term bottom

Copper support on weekly

 

[Dick Lexic]

whens the next big market moving announcement anyone?

 

[wallstreet1928]

by LorcanRK
China responds, threatens trade war after currency bill cleared senate vote yesterday bloom.bg/ppP1y7

 

[wallstreet1928]

whens the next big market moving announcement anyone?

15:00 USD ISM Manufacturing (SEP)
High
51.6 50.5 50.6
15:00 USD Construction Spending (MoM) (AUG)
Medium
1.4% -0.2% -1.4%
15:00 USD ISM Prices Paid (SEP)
Medium
56.0 54.0 55.5

 

[wallstreet1928]

re-entering long ftse from here

4958 upto 4930 if need be

avg = 4945 region

stop loss = 4850

tgt = 5050 , 5100

+ 30 in my long so far

+ 130 for the day so far, looking good

Keep going FTSE ...

1st hurdle @ 5000 ..prev supp = res

 

[wallstreet1928]

re-entering long ftse from here

4958 upto 4930 if need be

avg = 4945 region

stop loss = 4850

tgt = 5050 , 5100

IF you want to know why market is now moving higher

this is why ??

M_McDonough Michael McDonough
*BAROIN, REYNDERS SAY FRANCE, BELGIUM TO GUARANTEE DEXIA LOANS -Bberg

market is being re-assured = panic/fear alleviated = short covering rally

 

[MartinC-J]

Well it looks like we bounced off the 50% retracement. Lots of volume on the 1 mc at 9:45am. I have to believe it will retest the low, but I have found the last 30 mins price action a little underwhelming.

 

[MartinC-J]

Well it tried to test the lows and bounced off 4924. It is now rangebound, unless it can break above 4952.5 or below 4924.

 

[motion100]

stat of the day. - 'Oct 3rd 2008 S&P close was 1099.23, that is the exact same close as Oct 3rd 2011 (yesterday). The S&P then dropped to 899.22 by Oct 10th 2008. Lost 18% in a week'

Oct 3, 2008: SPX=1099.23; VIX=45.14 is to Oct 3, 2011: SPX=1099.23; VIX=45.45
Oct. 10, 2008: SPX=899.22; VIX = 69.95 is to ....

 

[MartinC-J]

stat of the day. - 'Oct 3rd 2008 S&P close was 1099.23, that is the exact same close as Oct 3rd 2011 (yesterday). The S&P then dropped to 899.22 by Oct 10th 2008. Lost 18% in a week'

Oct 3, 2008: SPX=1099.23; VIX=45.14 is to Oct 3, 2011: SPX=1099.23; VIX=45.45
Oct. 10, 2008: SPX=899.22; VIX = 69.95 is to ....

That's encouraging Steve! Sentiment is very bearish, but there are some who think we are due a rally. Overall traders are undecided and the price action is reflecting that.

 

[reksa]

stat of the day. - 'Oct 3rd 2008 S&P close was 1099.23, that is the exact same close as Oct 3rd 2011 (yesterday). The S&P then dropped to 899.22 by Oct 10th 2008. Lost 18% in a week'

Oct 3, 2008: SPX=1099.23; VIX=45.14 is to Oct 3, 2011: SPX=1099.23; VIX=45.45
Oct. 10, 2008: SPX=899.22; VIX = 69.95 is to ....

That's impressive. Well worth keeping in mind.

 

[dc2000]

WS a sumary of where you were in and out this morning would be good all the requoted posts are making it unreadable

at 8am ish you were long and bullish by 8:50 you had taken 100points?? is that right

 

[orangetrader]

morning chaps, caught that early scalp short as well but covered far too early as feared reversal. Seems to be forming a wedge at the moment. expecting to see a re-test nearer the lows

 

[orangetrader]

do many here trade the ES in the afternoon/evening? Last few days I have traded Z contract after cash market has closed. Working well but I wonder if I would be better just trading the ES after FTSE cash . Is the FTSE futures always fairly liquid up to US close and a sensible market to trade? Patterns on ES often mirror the FTSE so see little point in trading both as would rather just focus my efforts. Your thoughts opinions would be greatly appreciated. many thanks

 

[dc2000]

care needed around the 5065.3 for the swingers I have that as poss turn and reload if it comes before US session

for the scalpers buy every 20 point drop and sell every 40 point rally is what Im looking at on todays chart

 

[MartinC-J]

do many here trade the ES in the afternoon/evening? Last few days I have traded Z contract after cash market has closed. Working well but I wonder if I would be better just trading the ES after FTSE cash . Is the FTSE futures always fairly liquid up to US close and a sensible market to trade? Patterns on ES often mirror the FTSE so see little point in trading both as would rather just focus my efforts. Your thoughts opinions would be greatly appreciated. many thanks

After 5pm, the volume on the FTSE futures contract drops off completely. It is tradeable, but the order book gets so light you could get stopped easily on just lack of orders. I find the ES in the evening quite hard to trade, but there are good days and bad days. The only thing with trading the ES is you have to be prepared to give up a tick on entry and exit as sometimes it is hard to get filled at your target price. Try it for a while and see what happens. One caveat if you are using OEC's sim to trade the ES. It gives you very favourable fills that are just not realistic in the real world.