I took a little trade in there somewhere, after 2PM, and I didn't get it together to post it because I was so busy with trading: long at 9455, sold at 9466, so I picked up 11 points there, in just a couple of minutes. I still have the position long at 2515 and I'll close it if I can get a small profit in it, so I don't have to worry about it over the week-end.
Damir's Trading Journal
- Thread starter damir00
- Start date
I think with proper position sizing, the YM is an excellent vehicle to trade. I haven't traded it much, but I have a lot of ideas on how to reduce risk and manage my positions that I'll be putting to work soon. I mostly trade stocks and take maybe, 2 or 3 trades in the YM if I see something interesting.Quote from damir00:
i haven't seen you lose money yet.
i'm just trying to play the plan, not always easy when things move against me bigtime, but it's at exactly those moments the largest oppportunities lie.
On this position, I wanted to double up at 9571, but couldn't get a fill. I am a very short term trader though, and don't expose myself to the market longer than I have to. But, this trade wasn't good. My target is usually at least 10 pts, and if I had waited a couple of more minutes my target would have been hit. On this particular trade, I actually expected YM to break through 9500 and head higher towards the 9520 area, but my patience ran out.
It's a learning process.
-FastTrader
Excellent entry! Exit might have been a bit hasty, but who am I to criticize on exiting early...I am the king of early exits
-FastTrader
It's getting close to the wire here with my entry at long 9515. I'm brazening it out for a few more minutes. Many of the stocks I watch are perking up nicely.
You never mentioned the size you're trading of these YMs. I'm wondering what will end up being the optimal size because the downside risk is so great. If you have any insight I'd be interested.
You never mentioned the size you're trading of these YMs. I'm wondering what will end up being the optimal size because the downside risk is so great. If you have any insight I'd be interested.
Quote from Fast_Trader:
Excellent entry! Exit might have been a bit hasty, but who am I to criticize on exiting early...I am the king of early exits
-FastTrader
I started playing around with the YM less than a month ago, and don't have enough experience in trading futures (or trading anything for that matter) to put on decent size. I'm usually in the 1-5 contracts range on the YM. I always enter with 1 and add as I see more opportunity.
On stocks, I normally trade 1K sh lots; and in options I normally play 10-lots.
-FastTrader
Correction; I checked a few of my recent YM trades and the maximum position I had was 3 contracts. I guess, I'm willing to put on up to 5 for now, but the max. has been 3 so far.
-FastTrader
-FastTrader