Ziff said:Pretty much it ! Though I dont sell on the open of the next bar - I wait until price has exceeded the low of the bar where the cross occurred. It means waiting a little but I find it helps. Pans out okay.............
I dont take every signal............allow myself a little discretion if figures or news is imminent .
smccreedy said:Hi
I trade near month FTSE futures on LIFFE via interactive brokers.
I would seriously suggest anyone with the capital (£2,500) and time to fill in the forms heads of to Direct Access from spreadbetting if they are looking for shorter time frames.
I know it seems a little daunting at first and everything isn't as easy to understand as spread bet with comms and fees but I went from struggling to break even with Cantor to making decent money using direct access mainly through smaller spread and less 'skew' on the price.
If anyone on this thread wants more info in to how to go about doing it then please feel free to email me at [email protected] (PS I don't work for IB!) just saying I found it easier to make money intraday using direct access than spread bet.
Incedentally my style of trading is to use bollingers set around a 9 period exponential lag on the 5 min chart and look to buy dips to the lag when market is trending higher and sell rallies to the lag when the market is trending lower.
My win rate is doing well although profits might be as small as 2 points per time (£17.94) after commisions on one contract, if you can do this six or seven times a day net of losers it isn't a bad start.
I don't tend to trade longer views now but if you were to want my view the market reversed exactly at previous high yesterday and we are testing it again today (around 6450 on the cash I think?) if this holds again it's back on up, if it breaks I expect a lot of fast downside.
Stephen McCreedy
Ziff said:making lots of point today ?
Not looking like there is much demand for an intraday FTSE thread.........................
ceydababy said:Going to be trying out a new scalping system on the FTSE (cash) tomorrow. Hopefully going to make some points...will post my progress (or maybe lack of it !!) tomorrow !! Dropping down to a 2 minute chart for this.
Hook Shot said:I'm not surprised LMQ - it's hard to buy ftse close to highs of the last 4 yrs.
I'm looking at Queen's Birthday/St George's Day time frame it's often significant...
Ftse topped bigtime Apr 21 last year.... and previously US has bottomed around this date..
firewalker99 said:I think 2 minute on FTSE is a bit slow... even for scalping... FTSE can be quite dull at times
Hook Shot said:Sorry not a daytrader per se - but should have played the 6390 today which was 25% pbk from rally off 6k.
Anyway.......we're nearing that Apr 21-23 period I mentioned last week so lets see what happens this time ........if anything. Interesting (?) that US has flown up into that time window.
The one which makes the most money for the least risk...ceydababy said:What kind of time frame do you trade in Hook shot ?
logit said:Ziff and Smccreedy, how do you manage the trade once you have taken the entry signal? What are your points targets, stop loss (trailing?) etc.?
Thanks