ES Journal Archive (2006 - 2008)

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Quote from spike500:

The markets often give a false impression of reality. Today is a clear example of this phenomenon.
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This is exactly why I use small positions first and add each time when the PNL is negative. I never get hurt too bad and then when right , I do very well. Technicals are much less reliable intraday.
 
Out of my Ym long and naked short right now. Hedge worked great today. Now just need short side to come in a bit. Never got to my $500 stop loss, not yet at least!!
 
Only got a point early in the day on ES but grabbed 27 points from different YM positions (1 contract positions as I get the feel for YM). Today was the rare day where you take the opening signal and then let it run all day long.... but who knew LOL...
 
Quote from optioncoach:

Only got a point early in the day on ES but grabbed 27 points from different YM positions (1 contract positions as I get the feel for YM). Today was the rare day where you take the opening signal and then let it run all day long.... but who knew LOL...
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I am still trying to figure this one out, Re: - YM vs ES.

1 point in YM=$5

1 point ES=$50

If you trade 1 lot on YM you would need it to gain 10 points to match ES's 1 point move. Also if you refer to range advantage on YM you would need to increase position size and what about commission increase? It's ~$3.70 on ES and ~$3 for YM, so to take advantage of more range on offer on YM you would have to increase your position like ~10 times more commission? Does it make sense? The only sexy thing about YM is narrow spread. Maybe I am just confused LOL
 
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