Trading YM Consistently?

M

marc2market

I have been trading/observing the YM fulltime for almost two years now. I have explored and paper traded many different methods, incorporating many different tools and time frames, etc. I spent a full year paper trading 1 method alone. My results are still the same. Mixed. Meaning I am not profitable even on paper.

More recently I've been experimenting with lagging trend indicators to scalp on small time frames (Moving averages with CCI) Works great until I enter chop. I know nothing is 100%, but the problem is my frequency of losers wipes out my profitable trades. I cant seem to figure out when a potential move has gas behind it or not.

So I was hoping that traders who are consitent on the YM or any other instrument that can be daytraded,or swing traded would post their opinion what is generally working.
 
Quote from marc2market:

I have been trading/observing the YM fulltime for almost two years now. I have explored and paper traded many different methods, incorporating many different tools and time frames, etc. I spent a full year paper trading 1 method alone. My results are still the same. Mixed. Meaning I am not profitable even on paper.

More recently I've been experimenting with lagging trend indicators to scalp on small time frames (Moving averages with CCI) Works great until I enter chop. I know nothing is 100%, but the problem is my frequency of losers wipes out my profitable trades. I cant seem to figure out when a potential move has gas behind it or not.

So I was hoping that traders who are consitent on the YM or any other instrument that can be daytraded,or swing traded would post their opinion what is generally working.
More...

I'm not trying to be a smart ass...

There are journals here at ET and many other threads in the Index Futures et cetera where traders are talking about what's working for them.

In other words, start reading what's going on here at ET until you find something that fits your trading style that's being discussed by someone that saids its working for him.

Next...review all the back posts by that trader to pick up more pieces of the puzzle.

Next...contact the trader via pm or email with your questions.

I think that will be much more efficient in comparison to sitting here waiting for someone to knock on your door sort'uv speak.

However, to ensure I'm helpful...read this thread and it does contain some useful info.

http://www.elitetrader.com/vb/showthread.php?s=&threadid=52880

Mark
 
Quote from marc2market:

I have been trading/observing the YM fulltime for almost two years now. I have explored and paper traded many different methods, incorporating many different tools and time frames, etc. I spent a full year paper trading 1 method alone. My results are still the same. Mixed. Meaning I am not profitable even on paper.

More recently I've been experimenting with lagging trend indicators to scalp on small time frames (Moving averages with CCI) Works great until I enter chop. I know nothing is 100%, but the problem is my frequency of losers wipes out my profitable trades. I cant seem to figure out when a potential move has gas behind it or not.

So I was hoping that traders who are consitent on the YM or any other instrument that can be daytraded,or swing traded would post their opinion what is generally working.
More...


Its handy to know what chart patterns are around and forming.

Also volume lets you know if theres gas behind a move. For example dow is trending up all morning but volume has been decreasing all morning. This would be a good signal that the move is stalling. Look for resistance levels.

Read up on price,volume and chart patterns.
 
try throwing away the lagging indicators...

look at price, the tape, and see where support and resistance forms

go from there...
 
Quote from whitster:

try throwing away the lagging indicators...

look at price, the tape, and see where support and resistance forms

go from there...
More...


I agree. If you must have lagging indicators. then for scalping try using a 1 minute chart, but you will still have to anticpate crossovers in order to beat the crowd. Keep in mind, indicators are just derivatives of price. The only things I run on my charts are volume, and 9 and 18 ema to help stay on the right side on trend days but nothing beats trading pure price action and tried and true S and R.
 
Like 99% of traders, you don't know how to use indicators so you watch and watch and get the same bad results. You need a source of inspiration to help you on your own personal journey. If you insist on using indicators, there's no point listening to anyone who says they don't work, they lag etc., etc. The truth is everything works if you have the skill to use them.

Try downloading the free EChat from ensignsoftware.com and go into the Bline room. Look at how traders set up their charts and pm them. I'd suggest it's the next step rather than the answer - but certainly a partial answer.

To really move on you then need to develop your own personal edge. Good luck.
 
Quote from 5Pillars:

As a heads up.....delta divergences with shift work very well on the YM/NQ/ER2. :)
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I'll second that. Learn how to incorporate Market Profile into you methodology and just look at price. Price is king.
 
Yes....price moves on various levels of buying or selling conviction (what is called "market delta".........in one form, the intra-bar "net" effect of the initiated buying versus the initiated selling). So watching price near key s/r levels, with a realtime zero lag measurement of the buying or selling conviction, is hard to beat imo.
 
Quote from TinGull:

I'll second that. Learn how to incorporate Market Profile into you methodology and just look at price. Price is king.
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YEAH, OK... :D
 
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