Look at Soybeans.
Here we go again
- Thread starter Rickshaw Man
- Start date
It's summer time trading...normal type of price action.
Also a good time to reduce your position size to contol your risk.
In addition, I think its odd your complaining about YM today...
Have you notice what it's been doing today?
Here are some suggestions based on what others have said here recently at ET or in similar like market conditions of the past that trade YM:
* Have two different strategies...
One for trend trading and one for range bound (directionless) trading...
Different types of strategies for different types of market conditions.
* Only trade when there's a high probability for volatility such as the morning session, at/near key economic report release times or at/near regular schedule market events et cetera...
Only if a trade signal appears.
* Trade another market that's not directionless if you feel your current trading instrument lack direction...
Reason why some traders will trade different trading instrument types (ZN, YM, EuroFX, CL and so on).
Basically, the key component above is adapt.
Therefore, if anything above doesn't seem suitable...
Summer time trading may be a good time to go on vacation or do a ton of personal stuff...
http://www.elitetrader.com/vb/showthread.php?threadid=51814
NihabaAshi
Thanks for your advise, My method has always been to specialize in one instrument and focus on that instrument. Last summer was not quite as directionless as this one so far is shaping up to be. I do feel I need to step back and take some time off, I always say that, but I truly do love the markets.
Obviously your method is quite different than mine. Your correct from low to high 100 points. Did you buy the low and sell the high ? If you did congrats to you.
Actually it went up from about 9cst to 10cst then drifted for 5 hours in a 30 point range.
Just curious, whats your profit target? Looks like it is 20 pts!! I don't think that is scalping.. that is more like a position trade.
With 5-6 trades a day, there is not much flexiblty to get in and out and to be on the right side.
Yeah.. I was surprised of the +100 pt move up after the -30 pt gap down from last friday. I was expecting it to go further down, but due to great luck, I got stopped out and went the other way for another great day.
With 5-6 trades a day, there is not much flexiblty to get in and out and to be on the right side.
Yeah.. I was surprised of the +100 pt move up after the -30 pt gap down from last friday. I was expecting it to go further down, but due to great luck, I got stopped out and went the other way for another great day.
Your right their was a spike up this morning I was long from 10338 to 10364, and was able to catch some more points here and their. I hate this ducking in and darting out crap.