Stops

Well lets try this: YM or ES mox-nix. If you can trade one you can trade trade the other. Where is the difference? Slight differences will not make or break a good trading plan, the problem is not with the instrument at all. .........We know where the problem lies, either fix it or guit before you go broke.

If you can trade, you can trade most instruments, to blame the slight difference is not facing the real facts.

Trade without STOPS and you will be dead meat real soon. Ever drive through TEXAS and see all the dead armadillos on the road? Armadillos need a better plan when crossing roads, they need to know when to STOP. ..............:D

or how about Jack Rabbits driving at night in Montana, talk about using STOPS.....The JackRabbit gets in your headlights in the middle of the road and "SITS" .....DOINK!!!!! That reminds me of a trade with a STOP inplace and you "KNOW" from experience the trade is taking to much time to work and acting not as expected. Rather that sit there and wait for the STOP to be hit why not just throw in the towel and admit defeat, wait for the next opportunity.............Sure beats getting your head ..."DOINKED"......

Bottom line............the use of STOPS and setups come from experience, take your lumps.....BUT DO LEARN from them....nothing else works.....:)
 
actually, there are significant differences between the ES and the YM. they are differently weighted, the YM generally ***follows*** the ES, etc.

fwiw, i have backtested my setups on both the ES and the YM. even discounting the extra slippage on the ES (whch is signficiant due to its silly and absurd spread), the YM works much better for MY setups.

that is why i trade ES. i have done immense amounts of statistical analysis on these setups.

ES gives about 62% w/l ratio
YM gives about 78%

that is signficant - AND that does not take into account the extra ES slippage

ES is the trendy, "in contract" to trade.

that's great, but i don't trade to be kewl, i trade to make money

some people may have a system that works better on the ES, but they are NOT the same. not even close.

regardless, ceteris paribus, the YM is a better instrument because it moves 9-10 ticks for every 4 ticks the ES moves. slippage matters.

also, the ES is infected with hypercaffeinated arcade traders moreso than the YM

i absolutely agree about the stops issue
 
stop loss...................10 pts on ES.....don't do it......10 on Ym is survivable .......not ES.........u will dig a hole so deep and so quickly that u will be doing something else very soon........people must understand how u dig the hole........bad risk reward..........u can't make 10 pts stops ES a shallow hole..........highway to disaster...........
 
$50/pt.........$5/pt...........YM is almost a freebie.........for developing skills on the cheap.........but lo and behold..........then u c the money is there once you capture consistent points........up the contracts........continue taking the points consistently........patience, confidence in your strategy including entry signals, setting initial stops, exit strategy, ies, moving stop to breakeven...etc........confidence in your strategy.......the key to goldmine............if it ain't good u won't be confident..........the only way to find out how good it is is to do it realtime day in and day out for intraday YM...ES...NQ.........no realtime testing no bueno...........
 
whitster...........I like your comments....I am not here looking for freebies just interraction with other YM traders.............will discuss observations just not system......happy trading
 
tomorrow will present many intraday opportunities..........just as every other day does..........all days do..........having the patience to wait for proper entry is another thing..........the entry point can make it a pleasure or a disaster..........
 
Quote from tortoise:

Does anyone have anything constructive to say on the subject at hand?
More...

The way to trade is not to get overextended. When you trade conservatively, you can trade without stops. I have gradually, and more recently, gone to a stop free system and just gotten out when the market tells me. In other words, I use directiona analysis to get out just the same way thatI use it to get in. I have as recently as 2 and 3 weeks ago used stops, but have decided they are a waste as I never have large amounts of my portfolio exposed. That is the key
 
Backtesting is not trading, backtesting is trying to give you an idea of WHAT might be a possible strat or tactic.

To claim something is better than the other merely by backtesting is just pulling the wool over your eyes and hoping this or that will work.

Stop the foolishness with the computer and just get in there and do some real trading.....SINK OR SWIM........The computer is a tool NOT the answer...............Good Luck

Remember this about computers: Garbage in, Garbage out. (not original...)

I loved the post where 10 ES points equal 10 YM points.....Dam, that is good to know.........
:D :D :D :D :D :p
 
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