I am thinking about going short in the YM late today 03.22.07

Quote from osorico:

Just an offer of advise Boib...

If YM breaks 33 again (yesterdays high) it's probable it will take you out and make a fresh hod. Maybe lower your stop.

Just a friendly suggestion from a nobody.

Osorico

To expound...

First penetration of such resistance is a low risk short. 2nd penetration gives major indication of true strength.
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Well said. When the YM broke 680 a few days again I should have been long because it broke thru what had been a major resistance area up until then.
 
FWIW;

Short price targets...
13008,
13000, just bcuz its a psycho number
12990,
12983,
12966,
12948, todays low + hi-end of unfilled 4/20/07 gap
12875 = 4/20/07 gap fill

Not saying it will get to any of them, but these are prominent price levels for me on downside trades.

Good trades to all
Osorico :)
 
I stated in the opening post of this thread that I use 5k per...I have little tolerance for the YM....

but I could prolly use 1 contract per 3k...but this is public....and I do not need a moderator misleading newbies....many people look up to me...

I want to looze honorably and correctly...

ES

P.S. Now the truth is..I haven't traded Futures in years and I thought I would lose more than I did...I was coming off of a several year Forex high...But I seem to still know how to trade....but I need a bear market and some more chop day tests I think...I just am lucky for now...a two year old could trade this YM market




Quote from osorico:

Why do you need 5K per contract?... overnite exchange minimum is $2813.

Osorico [flat eod, everyday]
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Quote from ElectricSavant:

I need to see how the day pans out...

I would enter a limit order target of 50 YM points (5 bucks a point) if I "get in", with one contract. This is little stuff.


I would exit ...stay in... or reverse with a "time stop" on Friday at near the close if the target was not realized.

This is considered an overnight hold and the speculative margin of $2,813.00 initial and $2,250.00 maintenence would apply if I entered. This is the symbol YMM7 (June 2007 contract).

what do you guys think?

I know I am a "one contract per 5K" piker heheh...

Master YM Trader
Michael B.
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Quote from ElectricSavant:

I stated in the beginning of this thread I use 5k per...I have little tolerance for the YM....
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Cool. I use a multiple of my intraday margin rate. Just because you can doesn't mean you should.
 
Quote from Boib:

Thank you. Now at breakeven.
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out @ 022

inadvetently in at 024.

Hit a button twice in the heat of battle.

play it with a stop at 015 :confused: :confused:
 
Quote from osorico:

FWIW;

Short price targets...
13008,
13000, just bcuz its a psycho number
12990,
12983,
12966,
12948, todays low + hi-end of unfilled 4/20/07 gap
12875 = 4/20/07 gap fill

Not saying it will get to any of them, but these are prominent price levels for me on downside trades.

Good trades to all
Osorico :)
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thanks for taking the time to offer suggestions here, Osorico.
rj
 
I will trade two contracts...this is the most novice thing to do...but it is the responsible thing to do for losing...
First contract 50 points

second contract 75 points
 
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