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1) i don't trade the "eminis" (a CME term). i trade the YM 2) do u understand what a 'setup' is? apparently not. like i said, i can wait weeks for SOME setups to occur, others occur several times a day. it depends. i respond to what the market is doing, not how i want it to be 3)...

don't look at 'the chart' look at the time/sales

not really. cause i don't trade ES

it's not quite a "leading indicator" but i have found that (generally speaking), the ES leads the YM. often, it's only 1/5 of a second or so. my point is that big moves usually start incrementally sooner in the ES than in the YM contract. i watch the ES tape and I listen to the big...

to get even more specific. if you have a target 8 points away from yer entry, and the YM moves 9 , you are GUARANTEED to meet your target in a 1 pt ES move (4 ticks) the ES has to move FIVE points for you to get your guaranteed exit on the 4th tick again, i use limit orders and can...

yes, you are missing something about the spread. the minimum spread is ALWAYS 1 tick. it can be more, but never less the issue is what is the tick size in relation to the average true range. this increases your ability to get in at a better price, and get out with yer target. the ES...

Austin... good post. The discipline, part especially. There is a saying - first you learn how to lose money. Then, you learn how not to lose money. Then, you learn how to make money. Most traders never complete stage I. I am not a mechanical trader, just to clarify. I am...

also, i am not an emini trader i trade YM. YM is not "technically" an emini, since emini is a trademark of CME, and YM trades on CBOT. it is a mini contract, though :) now that CME and CBOT are merging, that may change of course

i think you are not completely understanding what i am saying i am saying THAT trade setup has a 90% win ratio, with a 3/1 risk/reward ratio that setup occurs on average about once a month. it's an overnight trade it is a VERY rare setup. i was speaking of one setup to illustrate...

not that i believe their offer is "limited", but clearly - due to the concept of market efficiency. Any successful automated system that is too widely disseminated will lose its edge merely based on the fact that too many traders are trading it. that's how market efficiency works the...

imo, the sign of an impending market top (all other fundamentals aside-which are also pointing towards a market top), was when CNBC interviewed two vegas strippers making a killing in real estate speculation this is similar imo to when a famous investor in 1929, decided to bail out of stocks...

imo, the sign of an impending market top (all other fundamentals aside-which are also pointing towards a market top), was when CNBC interviewed two vegas strippers making a killing in real estate speculation this is similar imo to when a famous investor in 1929, decided to bail out of stocks...

"For the legion of emini traders who think they can play the 1/1 ratio and win 70% or greater trades, rotsa ruck with that over the course of time" i don't trade the emini (ES) but another index futures. and i have a lower target than risk ratio (for most setups) and a over 70% win ratio...

"Somebody enlighten me please, as we all know one should use a 3:1 profit to loss ratio to make it in this busies" no, we don't. that is neither sufficient nor necessary for success as a trader. target/stop ratio is dependant on the trade setup (timeframe, instrument traded, etc.)...

i trade the YM, so divide by 10 for the ES. i like 40 pts a day. that would be 4 pts ES the thing is that how many points is kinda hard to decipher in that i scale out of winning trades, so on one trade i might get +5 pts, +8, +14 points. for each contract. so, would that count as...

"Right now ER2 and NQ seem to be the hot futures indexes to trade. I am sure at some point in time either of them will become less attractive and perhaps YM will become the hottest thing." your post is based on the assumption that volatility in the indexes makes them better to trade. this...

yes. i watch the TRIN and VIX intraday and also keep track on the TRIN and VIX dailies. these are great indicators, and unlike macd,rsi, et al - these are not lagging indicators. they tell you what is happening, not what did happen the TRIN gives you a great idea of market internals as...

um... there is more than one des moines. might be helpful if u list which one.

i've been using penny option pricing on my DIA calls and puts. very nice. good job IB!! you guys still need a symbol for realtime put/call ratio. and open interest other than that, i'm happy :)

"destroying the average investor is exactly what they want happen" the average investor? daytraders are not the average investor, nor are quants, or prop traders. the "average investor" does mostly dollar cost averaging into mutual funds and stocks, and usually has the sort of time frame...