Anyone scalping the FTSE Futures??

I'm not doing anymoretoday. I've lost a net 20 points on the day and all because I refused to believe that it was going up! I'll have to go and see my shrink!
 
Shorted 11452 as way overbought.
There is some weird stuff going on with the xxxJPY FX pairs at the moment probably causing the surge...depends whioch is leading which.

Edit: out for +29, volume seems to be reducing which might have some flat to upside bias.
 
Sidekicker said:
Well, it is not exactly correlated, ie not to a value of 1, I'd have to run the stats but there has been a definite correlation since the financial crash. In the last couple of months, it has not been so strongly correlated but still has an effect. I will try and find some charts.
There was some talk a while back about overnight moves in the currencies having an effect on the arbing.

There are a few anomalies but overall that is the picture...
Click to expand...

Nice summary. Many thanks. Will keep a wondering eye on the dollar index. I guess it would be nice to know which chicken comes first. Do the indices move before the dollar index? Or is there no clear winner?
 
dc2000 said:
back in again 5414 short even though I expected 445 maybe this afternoon after this mornings dip

all targets to downside still in play 226 and 089

still have DOW shorts

on the road this afternoon "I feel a Battle comming on"
Click to expand...

these look so far away from where we are now....
 
Splitlink said:
I'm not doing anymoretoday. I've lost a net 20 points on the day and all because I refused to believe that it was going up! I'll have to go and see my shrink!
Click to expand...

Split - we've all done it before. Being convinced a top is forming and finding it hard to believe the price keeps rising. SOmetimes you just have to leave your opinions on the side and trade what you see. If you are not comfortable entering at highs, then try and sit on your hands until it pulls back to the mid boly band on the 5 min chart. But you did well to limit the damage to 20 pts. I've been burned much worse than that in the past.
 
MartinC-J said:
Split - we've all done it before. Being convinced a top is forming and finding it hard to believe the price keeps rising. SOmetimes you just have to leave your opinions on the side and trade what you see. If you are not comfortable entering at highs, then try and sit on your hands until it pulls back to the mid boly band on the 5 min chart. But you did well to limit the damage to 20 pts. I've been burned much worse than that in the past.
Click to expand...

Thanks for that. I made gains on the Dax first thing, otherwise it would have been worse.
 
DOW just hit its 200 day ema and stopped... am now short ftse at 5431,,, with tight stop of 20 prices
 
Maybe the market will have a rethink when the FOMC minutes are released and they see how bad things really are @7pm.
 
a very low risk short exists on the ftse right now. at 5450'ish stop 5459 one pip above the last high (cash) better to enter as close to that high as you can.
might not work of course:)
 
reksa said:
Maybe the market will have a rethink when the FOMC minutes are released and they see how bad things really are @7pm.
Click to expand...

I am hoping that the minutes show they didnt discuss QE3 fully.. then the market will turn
around.
 
MartinC-J said:
Split - we've all done it before. Being convinced a top is forming and finding it hard to believe the price keeps rising. SOmetimes you just have to leave your opinions on the side and trade what you see. If you are not comfortable entering at highs, then try and sit on your hands until it pulls back to the mid boly band on the 5 min chart. But you did well to limit the damage to 20 pts. I've been burned much worse than that in the past.
Click to expand...

second that, I did it today. Tomorrow's another day and it's good karma to give a little back now and again
 
interesting...last week around same time most were willing markets to climb and today most are waiting for correction.....
 
Dick Lexic said:
a very low risk short exists on the ftse right now. at 5450'ish stop 5459 one pip above the last high (cash) better to enter as close to that high as you can.
might not work of course:)
Click to expand...


-6 inc spread :(

maybe the s&p gave a hand it's reached mthly high
 
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