Anyone scalping the FTSE Futures??

[Dick Lexic]

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.

System uses certain price bars ( intraday ) I'm just experimenting with the longer time frames using the same criteria. The 2009 yearly bar fits with the system using high (o%)and low of bar so I thought I'd try some Fibs levels on it.

FTSE back at 23.6% of 2009 bar around 5100 level and the weekly bar seems to have given support at 50% level 5043 for now.

 

[dc2000]

currently have DOW@10990 and @11254 and FTSE @085 and 199 same targets as before and will reduce positions there down to $40 just on the DOW then back across the pond for the winter

 

[Dick Lexic]

Hi Martin,
I have posted today’s 5 min chart with the long term weekly/monthly bar alternative Fib levels plotted. I know you only look at long term for guidance but maybe these levels would have helped your trading today?

I don’t mean to complicate things and if I’m being a nuisance just say and I’ll disappear faster than the news of the world. :innocent:

Daily 9/8 38% 5069
Week 5043 ..divergance
Month 5089……….maybe 5000 needs a test? good game.

 

[Dick Lexic]

currently have DOW@10990 and @11254 and FTSE @085 and 199 same targets as before and will reduce positions there down to $40 just on the DOW then back across the pond for the winter

DC your an inspiration I hope one day I can get to your level.

 

[mlbmlb]

Hello all!

I'm liking the way this thread is moving along.

5,006 is 50% fib ret from 08:00 high (5086) and 08:45 low (4926.5).

Key action around here, methinks...

 

[mazdaq100]

Nice gap trade on the open this morning. Since then I have somehow managed to fritter away all my gains. Obviously still got a lot to learn!

Martin - I think you have said in the past that you would enter a downtrend on pullbacks to the 12SMA (mid-BB) on the 1min chart. How did you trade the downtrend that started around 8.30 this morning? It dropped so quickly that it never actually pulled back to the 12SMA. I am trying not to enter a trade unless price is at the MA but it is frustating to see a 100pt drop and not being able to take anything from it. In hindsight, maybe putting a sell order 1 tick below the low of any up candle in the downtrend would have worked. Easy to say now though.

 

[dc2000]

once again the thinking this morning for a daily scalp was first half hour breakout which would give a target low of 4914 and you would expect that just before or just in to the US session. Im not on it was just my thoughts and quick calc if we can get another entry @5005 in the next hour I may take the short for a small bonus:cheesy:

 

[dc2000]

DC your an inspiration I hope one day I can get to your level.

thankyou and I wish you all the best in getting there. I started with a 10k account in 2001/2002
but before anyone gets excited the three houses and a bit of land I sold in 2006 had quite a bit to do with current account size :cheesy:

 

[Dick Lexic]

Hello all!

I'm liking the way this thread is moving along.

5,006 is 50% fib ret from 08:00 high (5086) and 08:45 low (4926.5).

Key action around here, methinks...

9/8 daily bar 61% = 4937 hope this is the bottom
weekly bar 61% = 4967

 

[Latham01]

4 trades today two gainers two losers overall gain of 20pts and re-learnt one valuable lesson of not selling into support. If it goes below the support at 4940 I would be looking for an entry to go short.

 

[Splitlink]

That's interesting because I use averages as entries and I would have sold this morning but it slipped away so fast at the open that I left FTSE and went to forex. I could have done it at 0830 but that's hindsight. The fact is that I blew it, this morning!

So, you are saying that there is a chance for me, yet! It looks promising but it is Friday and the family have plans that do not appear to coincide.

 

[Dick Lexic]

anyone heard the fat lady singing yet?

 

[dc2000]

close but no fill

 

[Latham01]

Just went long at 5992. closed in increments at around 5000.

 

[dc2000]

willgive it another 10 mins to get me in at 5005 if not sit it out

 

[dc2000]

filled but price moved too high so will now exit when market gives 5005

 

[Latham01]

filled but price moved too high so will now exit when market gives 5005

Was you short or long on that move? I should have held my long but there you go that's life.

 

[SanMiguel]

Was you short or long on that move? I should have held my long but there you go that's life.

You mean "were you" don't you?

 

[MartinC-J]

Nice gap trade on the open this morning. Since then I have somehow managed to fritter away all my gains. Obviously still got a lot to learn!

Martin - I think you have said in the past that you would enter a downtrend on pullbacks to the 12SMA (mid-BB) on the 1min chart. How did you trade the downtrend that started around 8.30 this morning? It dropped so quickly that it never actually pulled back to the 12SMA. I am trying not to enter a trade unless price is at the MA but it is frustating to see a 100pt drop and not being able to take anything from it. In hindsight, maybe putting a sell order 1 tick below the low of any up candle in the downtrend would have worked. Easy to say now though.

My main criteria this morning was would the selling continue or would we have a dead cat bounce. The gap was only 15 points so for me not really an issue.

As for trying to get in on a steep trend already under way, I have attached some comments for you on the two charts. You can enter on pullbacks to the 5 EMA or again wait for 1 tick breaks down in direction of trend.

 

[dc2000]

Was you short or long on that move? I should have held my long but there you go that's life.

Hi I was short looking for 4914 but the price went too high and altered trade so looked for exit which the market has kindly given