Trader Jeffs YM "Scalp" Trade Journal
- Thread starter jbales63
- Start date
Below are results this 1/2 days trading. I would have stopped there. I always remember the resounding theme coming up from the CME trading floor "I was up in the morning then gave it all back.
This evening I think I might start a Break down of what I do in sections. Later the methodology or implimentation of components and how they work together. Lastly some vids somewhere to show the actual use.
Jeff
Thanks....Im not sure how to share how I trade . But I would really like to show an alternative to the stuff sometimes purchased "redlight green light systems" that some traders follow blindly. Not really knowing why it may work if it does. I say all you need is 5 min bar maybe 3 min.And the simple indicicators I use. And a working knowledge of reading DOM and T/S. Not a doctorate that might help you in academia.
Jeff
So you started with $2,000 and made those amounts each day trading 1 contract of the YM...wow, great! How many trades per day? Also, noticed you switched from ES to YM..your main reasons being?Quote from jbales63:
Although very short history ....Very consistant .........Off to a good start
Trades and chart attached below
Average is about 8 rts. sometimes as high as 15,18. In depending more on DOM and T/S . For price entry and exit. Or at least as confirmation to piv and price action etc. I can stay in a winner without "kinda arbitrarily to the market activity" Stop out due to what I consider prudent risks. As I start with a 1 lot and add hopefully on to winners 1 at a time. Not a "throw my hat in the ring and see where it goes, I can trades 10 so my order is 10"mentality. If I could trade a 20 lot they would go on 2 at a time. And just prior to switching I was feeling uncomfortable about the possibility of wiping out a profitable am of trading. On error or bad trade and managing it to profitability. Knowing could go the other way. For the way I trade seems less likely with YM. Spikes less expensive if on the right side of a trade to stay in a winner. Trade data for last 3 days are attached in my posts
