Anyone scalping the FTSE Futures??

jungerns said:
Out of interest do we still pay interest to the USA reference the 2nd World War borrowings..........??
Is there Capital still outstanding ??
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Repayment
The last payment was made on 29 December 2006 for the sum of about $83m (£45.5m), the 29th being the last working day of the year.[2][6][13] The final payment was actually six years late, the British Government having suspended payments due in the years 1956, 1957, 1964, 1965, 1968 and 1976 because the exchange rates were seen as impractical.[14] After this final payment Britain's Economic Secretary to the Treasury, Ed Balls, formally thanked the US for its wartime support.
 
samirs said:
Hi Bustech - is that close below 7200 on daily TF
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On daily TF

Good at the moment having a strong ASX and Hong Kong and weak DAX and FTSE.
Gives you the chance to go long at the open of ASX or HK and short on the open of the DAX and FTSE.
Normally will only last for a couple weeks max before they become correlated.
I don't trade HK, just watch.
 
ordinaryguy76 said:
I'm in from 1.6010, just wondering how long to keep. Normally, I would scalp 10 pips or so and be out by now, but perhaps this will go higher.
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1.6064 is the buy order level. not triggered yet, took pips out of EURUSD and AUDUSD

think i put the wrong level on this buy order, meant to be 1.6021. never mind

since we hit 6021 we should on balance of probabilities go higher than current 6011, what sort of range does it do on daily

u now got 31pips
 
Last edited:
SuddenDeath said:
1.6064 is the buy order level. not triggered yet, took pips out of EURUSD and AUDUSD

think i put the wrong level on this buy order, meant to be 1.6021. never mind

since we hit 6021 we should on balance of probabilities go higher than current 6011, what sort of range does it do on daily

u now got 31pips
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Sorry, what I meant by 10 pips was: buy enter @ 1.6010, exit @ 1.6020.

Anyway, if it manages to close above 1.6031 tonight, would be quite strong signal to buy for me. If not, well, it was worth a try.
 
Blimey, some guy asked me for my 10 golden rules!! After a lot of thought I came up with these. Wot you think?
 

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Someone posted this on t2w a while ago:

Top 10 Trading Mistakes of 2011

1. Not trading along key support and resistance levels, or established trendlines on the Daily chart has meant that I’ve missed some cracking 300 to 400 point moves altogether, or that I’ve closed out of positions far too early and left heaps of money on the table.

2. Trading impulsively against the momentum after watching the market shoot up or down dramatically. E.g. the FTSE may have dropped suddenly from the open and could be 1% down by 10am. I would then try and go long against the trend hoping for a bounce. It may have worked on occasion, but for the most part, I got my fingers burnt.

3. Doubling up when holding onto a losing trade (the original trade usually taken as explained in point #2 above) and hoping or praying for a reversal. My biggest losses came from placing multiple trades trying to salvage a bad trade – I should have cut my losses immediately and saved myself a small fortune.

4. Trading using too many different types of strategies and not sticking to one main strategy consistently. I would read about a new strategy and I’d race off to try and implement that to see if it would work for me. Sometimes using oscillators, indicators, breakouts, fakeouts or moving averages, other times using price action and momentum, etc. Better to stick to one strategy and gradually refine that over time.

5. Snatching at profits and not letting profits run. After a string of losing trades I would close out a winning trade for 5 or 10 points, when in hingsight, it would have been much better to close out half the trade, move the stops to breakeven, and allow the remaining trade to run risk-free.

6. Trading when unable to closely monitor the market. Trading based on a 1 minute or 5 minute charts and finding myself unable to continue to monitor the position closely (when at work or in meetings for example). If you’re unable to actively monitor your positions during the day, you should switch to a longer time frame.

7. Not having the patience to wait for good trades. It’s too easy to get bored and switch from a Daily chart, to a 5 minute chart, or even a 1 minute chart, and start trading based on these smaller timeframes. I’ve taken some poor trades which I would never have touched if I was trading the FTSE strictly from a Daily or Hourly chart.

8. Not having the confidence to add to winning trades. Says it all really …. Instead of doubling up on losing trades I should have been trying to do just that on winning trades instead, and multiplied my profits.

9. Using inadequate stops. There were several trades which got stopped out almost to the point, before the market reversed and headed back in the direction of my original trade. My stop placement may have been too aggressive, perhaps suitable for day trading but certainly not for the overnight trades that I was placing.

10. Trading on stats without consulting the chart. Sometimes I would trade using the FTSE 100 Performance Stats without analysing what market was currently doing. This strategy worked some of the time, but not always (performance varies greatly from year to year, month to month, and from day to day) and this resulted in many overnight stop outs.
 
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