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Just a quick question -- Anyone out there have experience trading more than 5 contracts per throw on the YM? At what size does liquidity become an issue during RTH? Thanks.

Great stuff OldTrader. Thanks for taking the time to put these thoughts down. I agree with everything you wrote. A lot of food for thought here from everyone: Thanks to all. I have more thinking to do -- indeed, my thinking as evolved considerably since I started this thread, in no small...

Bitstream, thanks. This is an excellent post, of the level I've come to expect from you (and I mean that to be respectful and appreciative, not patronizing). I love to hear the facts, and the reasons behind people's opinions: It's the only way I know how to learn. You've offered both...

Sorry, I didn't see it. Yes, I consider myself a "noob" es trader. I have been trading the es consistently for about six months. As I mentioned in the opening post, I have experimented with stops of all kinds, so it's difficult for me to categorize "which" stop I've used. There's nothing...

Yes, but unlike risktaker, you have said it well. Bravo and thanks.

Exactly. Mind you I have never had a signal that would ask me to endure a 10 point m.a.e., so I have no intention of letting that stop get hit. The 10 pointer is just there -- just in case -- to minimize the possibility of, say, a 30 point whopper. I chose 10 points because it is double the...

Whew! I am so glad to know that madmummy is still available! I'm switching now! p.s. i don't use indicators. much.

Thanks for this as well. Yes, I have read that book. It's excellent. And while I don't deny that I am human and have emotions, I also have reason to believe that I have a reasonably highly developed sense of self-knowledge, and I do make it a practice not to trade if I suspect my emotions...

l.o.l.

Bitstream -- I'm a big fan of your posts: I've lurked on ET for a long time, and have benefited from the wisdom you and others have shared with the rest of us. So, thank you for that. Really. But I'm puzzled by the bitterness I perceive, not only in this message, but in risktaker's first...

You're right, the statement is not just sillly, it's asinine. Please understand that when I wrote it I had a two-year-old on my lap. Still...

madmummy, sir (ma'am?) -- You are the voice inside my head! The only reason I would consider this path is because I am under the impression (illusion? delusion?) that I will not be holding a position that has moved nine points against me, as, by that time, I will have received a clear entry...

Wise words, borne of experience no doubt. I have nothing but respect for them. My problem with, say, a two-point stop, or a six-tick stop, or stop based on this, or the other, is that (as I see it anyway) a stop placed with the expectation that it will "permit the trade to work" is placed...

Very interesting. As you imply, this does come down to psychology. For example, I did find myself becoming less stringent on entries when I toyed with "scaling in." I find that the all-in approach forces me to "really mean it" when I enter a position. But I wonder whether I abuse the...

Thank you, risktaker. This was my observation as well -- hence my inclination to abandon the use of stops -- and I am grateful for the confirmation.

That's interesting. Do you mean to suggest that he only uses a stop on that 3rd contract? Thanks for the ideas.

Does anyone have anything constructive to say on the subject at hand?

Your response to my question suggests that you have drawn conclusions about me that are grounded in nothing but your own bias. I hope your engagement with the markets is characterized by greater discipline and rigor.