Anyone scalping the FTSE Futures??

thats quite a lot of early thinking Martin, interesting though.

My early thoughts this morning were no gap high I'll wait for 1st half hours prices then took a long @302 as it was close to first half hour low and 100 points away from my shorting target so a fair reward.
 
if the FTSE hits the 402 and the DOW hasnt hit 565 I will take both off and vice versa
 
DC - are you quoting the cash price or the Futures price? I have 5275 as the low of the 1st half hour and 5315 as the high. But otherwise, your early thinking is a lot less complex than mine. No chance of you suffering from busy brain.
 
Hi guys, nice thread good work martincj

I day trade but here’s an interesting long term chart you might like to look at.

It’s the FTSE weekly chart with Fib levels projected from the 2009 high/low. The reason I used these levels is because I think the 2009 high is being tested at the mo and as it was a good strong move we might expect a retracement. As you can see it gave some pretty cool signals in 2010 and this year along the Fib levels. Day traders would have had a great signal at around 5100 on the 12th Aug by projecting the levels through to the hourly chart…wish I’d spotted it sooner. :cry: Maybe the market will come back to these levels.

Heavy volume attached to that weekly chart at 38% anyone think this looks bullish long term?
Hope i've attached the chart propely
 

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MartinC-J said:
DC - are you quoting the cash price or the Futures price? I have 5275 as the low of the 1st half hour and 5315 as the high. But otherwise, your early thinking is a lot less complex than mine. No chance of you suffering from busy brain.
Click to expand...

hi martin quoting cash price close for me is 30ish points so at 302 the downside was 27 the upside 100 although looks like Iwill be holding over today unless I can get an exit in next 25 mins
 
I always post cash price but trade futures just to save any confusion on board
 
Hey Guys, came across this thread yesterday and thought I might add something to the discussion. I started off trading currencies but due to work constraints monitoring the FTSE is relatively easier and have been trading this using CFDs for a little while now.

Took these shorts this morning after a retracement (please see attached image).

TP is generally 15 pips, stop of 6 pips but these can be discretionary depending on how I see the market moving.
 

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Dick Lexic said:
Hi guys, nice thread good work martincj

I day trade but here’s an interesting long term chart you might like to look at.

It’s the FTSE weekly chart with Fib levels projected from the 2009 high/low. The reason I used these levels is because I think the 2009 high is being tested at the mo and as it was a good strong move we might expect a retracement. As you can see it gave some pretty cool signals in 2010 and this year along the Fib levels. Day traders would have had a great signal at around 5100 on the 12th Aug by projecting the levels through to the hourly chart…wish I’d spotted it sooner. :cry: Maybe the market will come back to these levels.

Heavy volume attached to that weekly chart at 38% anyone think this looks bullish long term?
Hope i've attached the chart propely
Click to expand...

Dick,

No problem using long term charts but for an intrady trader like me the levels are only good for guidance and are not exact enough for my time frames and entry/exit criteria. Also why didn't you draw your 0% line at the highs instead of where you did?

For me I use levels from the 60 minute chart and 5 minute chart. I trade the price action off the 1 min and 5 min charts.
 
Latham01 said:
Hey Guys, came across this thread yesterday and thought I might add something to the discussion. I started off trading currencies but due to work constraints monitoring the FTSE is relatively easier and have been trading this using CFDs for a little while now.

Took these shorts this morning after a retracement (please see attached image).

TP is generally 15 pips, stop of 6 pips but these can be discretionary depending on how I see the market moving.
Click to expand...

Latham - well done with your trades. Looks like you are trading pullbacks to a moving average, but I couldn't tell from your chart which averages. Maybe post a jpeg next time. 15pt target with 6pt stop is fine, but it depends on where you entered. This morning the price action has been all over the place. I have struggled to find any steady market structure.
 
looks like we are going for the DOW buy target for Friday this would put the FTSE @ 5089 as peeps come out of gold they have to go somewhere for a safe investment
 
MartinC-J said:
Latham - well done with your trades. Looks like you are trading pullbacks to a moving average, but I couldn't tell from your chart which averages. Maybe post a jpeg next time. 15pt target with 6pt stop is fine, but it depends on where you entered. This morning the price action has been all over the place. I have struggled to find any steady market structure.
Click to expand...

Yea I took off the legend as on Reuters it all gets in the way. They are 10, 14 and 63.

I try to enter on momentum where possible but have missed two further possible entries this morning due to distractions.
 

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When the market finally got some structure this morning we got a very nice confirmation of a level on three seperate charts. The FTSE, FESX and ES all bounced exactly off a previous level. I had these levels on my chart for a while, and it's nice to see them bounce so clearly. Also, note the volume spike on all three charts at 10:20am, the confirms the reversal off the level. The FTSE retraced to 38% and then went on to bounce off 50% exactly before testing the lows.

I really struggled between 8am and 9:50am because the price action was really crap, despite some decent volume. When the price broke below 5250.5 which was the low of the week, then the bot trades kicked in on volume and the market was tradeable.
 

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  • Confirmation of level on 3 charts.doc
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I have had both the live and sim platforms down for the FTSE. The data feed from Open ECry is all over the place, and unfortunately for UK based traders the ES and FESX is working fine. So they don't know or watch what is going on for the FTSE. I have missed all of this down move. Very frustrating.
 
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