Anyone scalping the FTSE Futures??

inzimam said:
I couldnt help i, i got in and out just for a quick scalp

This run down has formed a huge red candle on the 1 hour chart. so significantly more downside to come
Click to expand...
Inzimam are you willing to discuss your account size.Do you trade for £1 per point.
On ig you can trade at .5 per point so yo can scale in etc.
 
itspossible said:
Inzimam are you willing to discuss your account size.Do you trade for £1 per point.
On ig you can trade at .5 per point so yo can scale in etc.
Click to expand...

£5pp on Dax if it''s bouncing off key key areas and lines with fibs and my other signals, otherwise £3pp. I have been using a stop of between 15 and 25 points. If 15points stop then £5pp otherwise £3pp

£2 or £3pp on DOW but I trade dax more

I'm trying to refine my strategy as although i trade dax more, I've made more money so far from the Dow simply because when it moves it moves big.
 
I have also got to get better at holding! I've missed out on probably 100 points by not holding today
 
inzimam said:
£5pp on Dax if it''s bouncing off key key areas and lines with fibs and my other signals, otherwise £3pp. I have been using a stop of between 15 and 25 points. If 15points stop then £5pp otherwise £3pp

£2 or £3pp on DOW but I trade dax more

I'm trying to refine my strategy as although i trade dax more, I've made more money so far from the Dow simply because when it moves it moves big.
Click to expand...
wow £5 on the dax is heavy mate.whats your account lol -1k 5k 10k.
 
itspossible said:
Yes mate on the demo. dax ftse dow.min bet is .5.
so you can say scale in if you want.
Click to expand...

Scaling in seems a bit of a weak way of trading.

I only enter (or should) a trade when my signals are showing a change in direction is immintent so scaling in wont really work for me. I use a smaller pot, higher £pp and shorter timeframe trades.

Scaling is more for swing traders
 
inzimam said:
Scaling in seems a bit of a weak way of trading.

I only enter (or should) a trade when my signals are showing a change in direction is immintent so scaling in wont really work for me. I use a smaller pot, higher £pp and shorter timeframe trades.

Scaling is more for swing traders
Click to expand...

have a good weekend👍
 
inzimam said:
I'm slack at monitoring now, I used to monitor every single trade including the % of pot risked on each and the % gain. Its too hard to keep track of that in the style I trade. I take pot shots at the market with a smaller stop these days (obviously when my signals are present.

I do pull the data via excel on IG (PL data) which i paste into a spreadsheet. This shows me a summary at the top by market traded, average £pp used, number of trades made, number of winners, losers, avg win, avg loss, win %

Currently my strategy is at 63% win rate. I had a lousy few weeks last year which in itself was like 90% failure so it dragged my average.

I would pivot this and show on a daily basis the % success, and number of trades and the conditional formatting highlights days im over/below certain thresholds. Eg. big red colour if I'm in a success rate of less than 50%, and if ive made more than 15 trades in a day. Ideally i'd be able to monitor this on a real time basis but that would mean copying and pasting the PL date too much
Click to expand...

Many thanks - I also download the IG spreadsheet - but to be honest I tend to better at keeping it up to date up to date on winning days than losing days (which is totally the wrong way to do it!).

I think my problem is letting losing trades turn into larger losses by holding on and not cutting out early OR worse by moving the stop and praying for a turn around:whistling
Again I guess it come down to discipline.
 
Stock markets retract today after the opening of the US market. After the strong valuations achieved in the last two sessions (for example the DAX appreciated by 4.90% since the minimum of Tuesday) it is expected that some investors realize capital gains. On the horizon still hover various uncertainties, which justifies the prudent stance of investors. In addition to the political and economic situation in Greece, the weakness of the Russian economy is still a latent threat. In an interview with the Financial Times, the renowned investor George Soros considered that Russia is a much higher risk to Europe than Greece. In addition, the price of oil, despite the stability of recent days, still has a high volatility which increases uncertainty in the equity markets.

Additionally, there are multiple signs of weakness in several economies. Today, it was reported that German industrial production on November decreased 0.10% compared to forecasts of an increase 0.30%. This difference is due to the sharp drop in energy production. In China, the publication of inflation confirmed the slowdown experienced by that economy. Although these data reinforce the fears of investors about the state of the world economy also increase the expectation that central banks will continue with its accommodative monetary policies. The last few years have shown that the equity markets are much more sensitive to the decisions of central banks than the state of the world’s economies.

Data from the American economy have played a secondary role in the current environment of Wall Street, but today this pattern should have been broken with the publication of the employment report. Employment grew more than expected in December and the unemployment rate fell to 5.6 percent, ending the best year for the labor market since 1999 and strengthening the US evidence as a highlight in the global economy.

The addition of 252,000 jobs followed a 353,000 rise the prior month that was more than previously estimated, a Labor Department report showed today in Washington. The jobless rate dropped to the lowest level since June 2008. The report wasn’t all good news as earnings unexpectedly declined from a month earlier.
 
nitrader said:
Many thanks - I also download the IG spreadsheet - but to be honest I tend to better at keeping it up to date up to date on winning days than losing days (which is totally the wrong way to do it!).

I think my problem is letting losing trades turn into larger losses by holding on and not cutting out early OR worse by moving the stop and praying for a turn around:whistling
Again I guess it come down to discipline.
Click to expand...


Never move a stop, if you have to move it you didnt have it right in the first place. Letting losers run is what kills an account, I've been there and done that too!

You were supposed to take a break from trading since the morning but you've probably been looking at the charts. All those flashing lights are a temptation to make a trade but when you're not thinking straight it's just a punt. Turn it all off and go chillout. It's only money, it hurts to lose it but you can make it back slowly.

Just winding down at work now so will be off the computer till Monday.

Hope you all had a profitable week and have a good weekend.

:clover: here you can have mine until Monday morning! The guy that sold me it assured me I'd make 1000 points a week! Might need new batteries
 
inzimam said:
Never move a stop, if you have to move it you didnt have it right in the first place. Letting losers run is what kills an account, I've been there and done that too!

You were supposed to take a break from trading since the morning but you've probably been looking at the charts. All those flashing lights are a temptation to make a trade but when you're not thinking straight it's just a punt. Turn it all off and go chillout. It's only money, it hurts to lose it but you can make it back slowly.

Just winding down at work now so will be off the computer till Monday.

Hope you all had a profitable week and have a good weekend.

:clover: here you can have mine until Monday morning! The guy that sold me it assured me I'd make 1000 points a week! Might need new batteries
Click to expand...

Actually I only looked a chart once all day - can't believe I managed that!
But I did read "Adventures of a Currency Trader" instead of trading
(or working:whistling)

Thanks for the clover - will return it once I get on a roll😎
 
You can read whatever you want into the 'news'.

Its the greatest news for 15 years today.
December Employment Gain Caps Best Year for U.S. Since 1999; Wage Gains Lag
http://www.bloomberg.com/news/2015-...t-gain-caps-best-year-for-u-s-since-1999.html

Its the worst news ever today.
Labor Participation Rate Drops To Fresh 38 Year Low; Record 92.9 Million Americans Not In Labor Force
http://www.zerohedge.com/news/2015-...-year-low-record-929-million-americans-not-la

So why would you bother trading it?
 
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