Simple Profitable Method

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EqtTrader,

It was this post that brought me out of the dark "lurker" category and brought me into the light.

I had been a lurker for about 6 months and had read through this post and said to myself, snarly...you need to start posting.

I've never looked back...glad to be here...

snarlyjack

P.S. By the way, I love to trade and I love the markets. Now I'm learning how to trade correctly with the help of Trader28 and ya'll...
 
Quote from EqtTrdr:

Is it just me or does anyone else notice that everyone posting on this thread REGISTERED IN OCT 2006?

coincidence??

:confused:
More...

You take that marajuwana mana far to mucho....lol
 
Simple question for the thread....

I actually have traded on occasion a method very similar to this technique for longer period swings with pretty good success. I agree that this method can indeed be successful and have been keeping up with the thread from the beginning.

My question is to those that have been using this trading method with futures successfully, which future is this method best suited for?

I know some are trading the ER2, but is it very profitable for the YM also? Are the YM moves large enough that enormous size isn't necessary?

Thanks in advance.
 
Percentagewise ER2 and YM move about the same. The main difference is that ER2 moves about twice that of YM moneywise. Your reward for a typical move is twice that of YM but your risk is also twice that of YM so I think it depends on your bankroll and experience. I dont think there is all that much difference in liquidity.
 
I only trade the (ym).

When I first learned to trade, the ym is what I learned on.
So... with that in mind the points in the YM that I look for are between 7 and 20 points. After 20 points, I am very nervous as the ym will flip back on you.

When I get very good at this, I think I'll still trade the ym only with more contracts. Currently ym is $5.00 per point.

7 points = $35 per contract
10 points = $50. per contract
15 points = $75. per contract
20 points = $100. per contract

My goal is to make $100.00 a day, good days and bad. Up/down and inbetween...easier said than done!!!

snarlyjack
 
Down move on the YM right now.

How are the YM guys doing so far today? I haven't made any trades. I decided to at least wait until the afternoon. But I probably wont trade today. I didn't like the way the early morning looked. Did it look choppy to anyone else, or was it just me? I know it was really only the first hour or so. Ijust didnt remember any other days being quite like that recently, except the election results day - yesterday.

There have been only 2 shorts that I liked, which includes the one right now (approx 12:04 EST)

Hows the ER2 been going?

*YM down move doesnt really look that great anyways...
 
Jack,

I see the 1 good trade ( 40 points) this morning at 8:00 mountain time. And a few fast trades (10 points).

I've been thinking about the small fast trades. Let's say they go for 7 points. $35.00 - $5. comm. = $30.00

If person could trade at least 1 every hour. You would still make $30. an hour x 7 hours = $210. a day.

With my life style (inexpensive) I can live on $200.00 a day, with really very little risk.

That's how I am looking at it .

snarlyjack
 
Yeah,

Actually, those target are close to mine.

With a zero confirmation I go for 10 points, 20 point hard stop. Close half the lots then scale out the rest with a pretty tight trailing stop behind it. Im not worried about catching all 30 points of a big move, etc.

Without the zero confimration/momentum (short move when above zero line), I'll go for 4 points and a 10 point hard stop. Scale out half after my 4 point target is hit,etc.

This seems to work well. Winning % is very high even though risk/reward is a little off. I almost never let the hard stop get hit. Once the SMA is crossed, Im usually out. This does leave some on the table though.

I just didnt like the morning, especially after yesterday with the results coming out. I may try to get a few scalps today in the afternoon.

BMW is having a good day, how are you doing snarly? My goal is simply 10 points a day profit. Anything more than that is great. And it's very easy to get more than that. Trading with multiple contacts, can add up quickly.
 
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