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I hope the conversations can mostly be done on microphones. This would be great. I find it pretty distracting to be typing and reading so I dont hang out in a chat room but if you could just ask questions on a mike that would be cool.

If you normally give up the spread you will save $750 for every hundred contracts traded by trading YM or NQ vs ES. This adds up over time.

Excav8tor and Spyder thanks a lot. Plenty to think about in those two posts.

agreed

I am using the teminology as implied by the op. Most people do not seem to understand the true definitions of gambling.

Those who do not learn from history are doomed to repeat it.

I think that for the huge majority of traders it is gambling. For a small minority it is not. What else is new?

I do find channels and trendlines useful and I am looking at ftt's now but Im afraid I dont get it. I dont see how you can recognize an ftt until well after the fact. When do you know for sure its an ftt? On the next bar? The next bar may have a higher low than the previous bar in a downtrending...

I trade the YM and watch ES too. My experience is that there is no consistent lead anywhere. Sometimes YM leads sometimes ES takes the lead. However it is not wise to go long on YM if ES seems to want to go down and vice versa.

I am far from an expert but I see people employing many kinds of strategies with stocks. Bright does the opening stuff, Spyder and his group use scans, there are news plays and earnings on individual stocks. There is quite a list. I am pretty sure that most prop firms do not allow new traders...

Are you trading futures profitably? If I had a larger account I would be trading stocks. There are some advantages to trading futures but I think there are many more succesful approaches to trading stocks. Most prop firms dont trade futures.

The only one that did me any good was one you dont have drawn in. Dont you adust your lines as the day wears on?

This is an interesting question. You might read some Jack Hershey posts. He says that YM leads the ES and that smart money leads the market so I guess he is saying that smart money trades the YM. Maybe he can enlighten us some more. Because of the small amount of volume in YM it doesnt seem to...

] Bulkowskis book has a lot of statisitics on patterns. It was put together on info gathered during the last bull market so it might be applicable now. http://www.elitetrader.com/bo/index.cfm?action=view&B_ID=16&CatID=3

Does anybody know why trendlines on QT volume charts will not stay put?

:confused: :confused: The first hit off Google will answer most questions within a few seconds.

This action around all time highs seems to be feast or famine. I guess its just a question of waiting around for the big moves and sitting on your hands the rest of the time.

Professor why do you say it must test? I know highs and lows are usually tested but not always. Occasionally you have a V reversal dont you?

I pulled all the other stuff off my screens again. I am now convinced that the more stuff you look at the harder it is to make a decision.

ONe nice short on YM. I think the key to using this method on YM is not to expect more than a couple of good trades a day. Trying to catch every little cross will burn you out pretty quick but almost everyday there are a couple of nice ones. Patience, patience and more patience.