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I am thinking about going short in the YM late today 03.22.07
- Thread starter ElectricSavant
- Start date
Quote from rcj:
in order -8 -7 +6 -6 +8 +4 -6 +4 -4 = -9 tot.
Im not quick enough to enter(execution). not taking whats given.
Still paying tuition.
Since you're scalping here's some tips that may help...
1) Have a plan or concept before entering the trade. For instance, you might execute differently for a counter-trend trade vs. a trade is in the direction of the trend.
2) When action has stalled, or is just otherwise not moving as expected, try exiting with a limit order at net b/e or better. In stalled or slow-moving markets, you'll likely get the current/better price. Of course, this is dependent on price velocity at the time. In very fast markets (ie news), use market orders or some kind of trailing stop, manual or automated. One of the great things about scalping, imo, is that trade thesis will be proven right or wrong very quickly. If you find your intial stop being hit frequently, it's telling you your entry setup is faulty. In the stats above, that may be the case, idk.
Generally speaking, you shouldn't need to be speed-clicker to "force" a trade work. If that's the case, you may want to pick targets and enter them at time of entry. Simple with DOM order-entry, and/or other platform specfic methods.
Osorico
oso:
Your clearly presented comments the last couple of weeks are appreciated and carefully read by me. Thnx, bro.
Old business. I am an SC level 3 subscriber and i hope to have the DTNIQ feed hooked up this week. It's free at my subscription level for what I need. Im look foward to comparing the DTN data to IB data for YM. Thnx for pointing this out awhile back.
"...try exiting with a limit order at net b/e or better. In stalled or slow-moving markets, you'll likely get the current/better price. Of course, this is dependent on price velocity at the time. ... "
Yes!! This speaks to something i am/am not doing. The key here is
" net b/e" or better. At IB, one rt costs 0.852 of a tic. Over the last few months ive "improved" enough to where over half my entries present at least a tic or two to me, often a few more, occasionally, as many as 10 tic. This has happened in a number of the losing trades. Yes! Good point, oso. If I DETERMINE that im going to scalp a series of trades, then i need to grab what's given and NOT try to wait for more, thus spending more time in trade at risk.
Well ... ive got more to say re your last post but i cant right now.
rj
Your clearly presented comments the last couple of weeks are appreciated and carefully read by me. Thnx, bro.
Old business. I am an SC level 3 subscriber and i hope to have the DTNIQ feed hooked up this week. It's free at my subscription level for what I need. Im look foward to comparing the DTN data to IB data for YM. Thnx for pointing this out awhile back.
"...try exiting with a limit order at net b/e or better. In stalled or slow-moving markets, you'll likely get the current/better price. Of course, this is dependent on price velocity at the time. ... "
Yes!! This speaks to something i am/am not doing. The key here is
" net b/e" or better. At IB, one rt costs 0.852 of a tic. Over the last few months ive "improved" enough to where over half my entries present at least a tic or two to me, often a few more, occasionally, as many as 10 tic. This has happened in a number of the losing trades. Yes! Good point, oso. If I DETERMINE that im going to scalp a series of trades, then i need to grab what's given and NOT try to wait for more, thus spending more time in trade at risk.
Well ... ive got more to say re your last post but i cant right now.
rj
Well ... no action in the YM for me Mon. I only got to watch some charts of and on. For me, no trading probably untill Friday... or mabee thurs afternoon at the earliest. Just too much else to do
here.
Maybe some of you other guys will show up and make some calls?
Open interest is still up there but i see vol was only 69K.
rj
here.
Maybe some of you other guys will show up and make some calls?
Open interest is still up there but i see vol was only 69K.
rj
i wont be doing any trading until probably friday.
for some this may be an interesting thread.
http://www.elitetrader.com/vb/showthread.php?s=&postid=1460816#post1460816
for some this may be an interesting thread.
http://www.elitetrader.com/vb/showthread.php?s=&postid=1460816#post1460816