Anyone scalping the FTSE Futures??

zorbas said:
Unfortunately shorting the Dax didn't play out for me. Had to stop 3 trades, underwater 4 digits. :(

At some point I tried to hedge with Ftse, but this barely moved in comparison to the dax
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sorry to hear that. which level did u short it?
 
:)
 

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SuddenDeath said:
sorry to hear that. which level did u short it?
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Started yesterday at 7385 and averaged up today at 7415. Finally closed the trade at 7405 for a loss (cost overall was 7400). At the same time hedged with ftse and had a 10 pt loss also there.
 
PHP:
zorbas said:
Started yesterday at 7385 and averaged up today at 7415. Finally closed the trade at 7405 for a loss (cost overall was 7400). At the same time hedged with ftse and had a 10 pt loss also there.
Click to expand...

Just shorted again at 7460. Sorry can't help it to be out...
 
Have a good weekend all.

Had three trades today.

-6:00. I made the exact same mistake as yesterday - actually, no it was worse. I was so focussed on the trendline I forgot the overbought/sold signal. This time early by +8.

+6.50. Did everything right. Barjon's words "it's where you exit that matters" echoing all around me as I watched that trade.

I could have done this same trade two more times but I was otherwise occupied.

-2:00. End of day, tired, silly error. I thought I was doing the same thing again but, like the morning, forgot the overbought/sold signal -you know, the 1# crucial thing - while focussing on backtest. Fortunate to get out -2:00.

Up +1 over the week though. Hard to tell if I'm more confidence. Charts have been pretty terrible last two days, so have not been able to use my trend following strategy, and making a hash of the reversals.
 
et. said:
Have a good weekend all.

Had three trades today.

-6:00. I made the exact same mistake as yesterday - actually, no it was worse. I was so focussed on the trendline I forgot the overbought/sold signal. This time early by +8.

+6.50. Did everything right. Barjon's words "it's where you exit that matters" echoing all around me as I watched that trade.

I could have done this same trade two more times but I was otherwise occupied.

-2:00. End of day, tired, silly error. I thought I was doing the same thing again but, like the morning, forgot the overbought/sold signal -you know, the 1# crucial thing - while focussing on backtest. Fortunate to get out -2:00.

Up +1 over the week though. Hard to tell if I'm more confidence. Charts have been pretty terrible last two days, so have not been able to use my trend following strategy, and making a hash of the reversals.
Click to expand...

well done, et :cool:

keep a check list next to you and cross them off before you strike.

have a good w/end
 
zorbas said:
Started yesterday at 7385 and averaged up today at 7415. Finally closed the trade at 7405 for a loss (cost overall was 7400). At the same time hedged with ftse and had a 10 pt loss also there.
Click to expand...

u picked good levels, but US just wont fall, and VIX is very low.
 
Even though ftse did its usual back and forth intraday it was net weak every day this week and should now be standing up at 5920 had it kept pace with dow from the start of the week. Ftse has also reached a new extreme for the year and it should now be standing at 6210 had it kept pace with dow from the beginning of this year.
 
Dow Theory: Transports Not Confirming Industrials

One of the elements of Dow Theory is that the Dow Jones 20 Transportation Average (DJTA) should confirm new highs in the Dow Jones 30 Industrial Average (DJIA). When this fails to happen, it is a bad sign for the market. The logic behind this is that, if industrial company stocks are doing well, the companies will be ordering raw materials in anticipation for future sales, which will be transported by the transportation companies, in turn causing the transportation stocks to benefit.

The two charts below show that the DJTA has not confirmed the new highs in the DJIA all this year. Whereas the DJIA has continued to push to new highs, the DJTA has stalled and moved sideways.

6a0120a65d6eb8970b017ee3ad99ff970d-800wi


6a0120a65d6eb8970b017d3c37eed0970c-800wi


The internals behind this divergence are even worse than revealed by price. Each chart has a panel showing the percentage of stocks in each price index that are above their 200-EMA. Note that the percentage for the DJIA is near 90%, while it is only 20% for the DJTA.

When a stock's price is below its 200-EMA, by our technical definition it is in a long-term bear market. With 80% of DJTA stocks in bear markets, the outlook for the DJTA is not good. And in accordance with Dow Theory, the prospects for the broader market are much worse than the new highs in the DJIA would imply.
Click to expand...
 
barjon said:
Even though ftse did its usual back and forth intraday it was net weak every day this week and should now be standing up at 5920 had it kept pace with dow from the start of the week. Ftse has also reached a new extreme for the year and it should now be standing at 6210 had it kept pace with dow from the beginning of this year.
Click to expand...

Could be the GBP effect on the FTSE.
Now having a strong GBP/USD will make the FTSE underperform the DOW more.
 
Closing Indices Prices which am just Perusing Sunday are confusing the hell out of me...........

Only reiterate what I have said the last couple of weeks in that I'm a Short Seller 100%
 
Am hoping that this will display properly what is below. I copied it from an Open Forum that one of my Trader Buddies from OZ contributes to but dont intend to make a habit of it........The Question had been put to him that how does he Consistently manage 100 Pips/Points a day week in week out and had come from a newcomer to Trading.........

Thought it may be of interest to some.....

"100 pips per day consistently is exceptional trading and comes from 25yrs plus of pain. This should not be your target. Aim for 10 pips consistently, once you can do that add positions and repeat.

My average trade depends on the timeframe I trade. Lately due to market conditions the 8 day holds are giving the best results opposed to 1 day hold and close.

Liquidity rate is something that changes constantly, hence the reason spread increase with lower liquidity around announcements. Stick to the majors.

Equities vs FX, in FX you are trading against the banks (big boys) be careful.

I strongly suggest learn higher Time Frame analysis and don’t get caught up in lower time frame scalping. Unless you want to be in the same pond as 95% of FX traders that die after a average loss of 14k."
 
jungerns said:
I strongly suggest learn higher Time Frame analysis and don’t get caught up in lower time frame scalping. Unless you want to be in the same pond as 95% of FX traders that die after a average loss of 14k."
Click to expand...

I am leaning towards the higher time frames, myself, for no other reason that it is likely to be more peaceful than the smaller ones. I don't think that 95% of serious traders lose, though. That porcentage has been bandied about for decades and I believe that , in large part, serious traders are confused with gamblers who think that trading is a sure way to make money ---in addition to being a prestige way of saying that the money was earned-- if they have been successful-- not by gambling, but in the stock market.

The big money is not earned in trading the way we do. It is made by researching companies and, in the case of forex, countries. We, speculators, are merely trying to cash in on a decision to buy, or sell, a product that was decided in boardrooms at an earlier date.

Therefore , it stands to reason that the higher the TF, the better.
 
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