FTSE 100 intraday trading - JULY 2003

How can you think you have seen the high or low of the day?

The FTSE is massively affected by the US in afternoons and as such is really a slave. In the morning initially it tends to dance to the US's later trading.

JonnyT
 
bonsai
Don't be too harsh on the freeloaders; a lot of us are novices and perhaps feel that we are not able to contribute at the moment. I find your posts very informative.

Sun
When you getback from your vacation, would you be able to do a path for the FTSE? I find your posts inspirational.

all
it's taken me a long time to realise the importance of LIFFE's Opening Call issued at about 7.45 each morning. For those with DA platforms that can't trade at the moment because LIFFE is broken, I did call them and the OC today was 4080 +/- 50 ticks. Ties in nicely with my TOR of 4131.5.
 
Sunseeker,

a US time and price trader called George Angell reckons you can fade the gap in the US and get it right 75% of the time if you can see the stops being run. Not sure if FTSE is the same percentage. The other 25% will be painful if not recognised fast enough. What John Piper calls a 'goose'.

You might be interested in Angell's approach. A good book called 'Sniper trading'. Pretty basic T+P and fibs from where you're coming from, but he has daily composite S+P patterns from 12 years of data that are interesting. A lot of bragging and war stories as well. But he does tell it like it is. ie. be prepared to suffer or forget it.

This is a great trading day so far. Pity that my broker tells me that 'Liffe is down'. Interesting definition of 'down'. What are these little bars I'm watching then? Down for me...
 
Sledge
if you check the morning call why not post it at the start of the
day ?

(I have put the CNN morning call for S&P on the first page
because its available as a chart.)

sb's were quoting ftse at 88/93 last night.
 
Ghost
that's why I look for a trend line hit or fib hit.
It's not guaranteed but it gives me some sort of edge.

On the goose, I look for 5 very small corrective legs and then
take it as close as I can to the start of the rally.
 
bonsai

i suppose i could. i just assumed that people trading the future with a DA platform would see the LIFFE message at about 7.45.

is this now a buy at 4030? (or 4036 (S2) to be sure of a fill). shame the exchange is still down
 
Hi all

the Liffe exchange is down....grrr!

sledgehammer

I have DA but for various reasons am not able to log on until after 8:00am so morning call would be useful

waytogo
 
That's a broker problem then? I'm trading with IB and Tenfore Sat feed.

Good luck
 
Sledgehammer
You with Easy2trade too?

Oatman
According to E2T it's a Liffe problem - don't understand why it's taking so long to sort it tho'.
 
Bonsai,

quite agree. I need every confirmation I can get in the mornings. Always find the opening tricky, when actually it gives some of the best signals. Aways half asleep and fretting over stops.

We start too early here in my opinion. I'm sure I read somewhere that the Australian futures exchange opens at 9.50 their time? Had to laugh.

I'll look for the 5 corrections next time I see potential goose.
 
when i spoke to LIFFE, all i wanted was the Opening Call, which he told me. But the chap admitted that it was chaos with their switchboard overloaded andsaid that it was an exchange problem with their "gateway" to brokers. I'm not a techie, but I think I understand.

My Tenfore (internet) is also fine.

Shouldn't affect SB's

Are we getting off-topic?
 
J40

LIFFE is continually sending messages, about the hourly fix of cocoa, whether Fast Market is On or Off, the Euribor settlement etc, etc

At about 7.45 each morning they send a message called FTSE Opening Call. It's a price and range. Today it was 4080 +/- 50. It very rarely goes out of that range.

If the outer limits tie up with EW ranges and/or pivots it's a signal for me.
 
Top