Trading YM

Today was a rough day. -125 on 7 trades.

I was getting completely faked out by large lot activity.

Any of you longer term traders have any views on upcoming direction?

Seems like we could easily slip back into that 10400 - 10300 range again.
 
Let's see how big of a fool I can make of myself: we had a relatively nice drop yesterday and today nobody cares. My gut feeling says we'll move back to around 10600 in the next 1-1 1/2 weeks. ES will be back around 1225 and VIX will be back into the 12 handle.

Bob
 
What an awesome day of trading in YM, hey ya gotta make the best of a bad situation, and always stay positive, keep your mind moving in the right direction. Be patient keep your cost low during these tough times of directionless trading, don't force trades, wait for the cleanest trades then execute.

November is right around the corner, history is in your favor during Nov Dec. In the mean time stay positive.


Cheers!
 
Quote from bigbob:

Let's see how big of a fool I can make of myself: we had a relatively nice drop yesterday and today nobody cares. My gut feeling says we'll move back to around 10600 in the next 1-1 1/2 weeks. ES will be back around 1225 and VIX will be back into the 12 handle.

Bob
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don't say that Big Bob, if you see something that confirms your beliefs then execute. Just place a stop. September,October could be great months, who knows, I sure don't.

I have not failed 100 times. I have not failed once. I have succeeded in proving that those 100 ways will not work. When I have eliminated the ways that will not work, I will find the way that will work.
 
Quote from Rickshaw Man:

don't say that Big Bob, if you see something that confirms your beliefs then execute. Just place a stop. September,October could be great months, who knows, I sure don't.

I have not failed 100 times. I have not failed once. I have succeeded in proving that those 100 ways will not work. When I have eliminated the ways that will not work, I will find the way that will work.
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I have not failed 100 times. I have not failed once. I have succeeded in proving that those 100 ways will not work. When I have eliminated the ways that will not work, I will find the way that will work.

-Thomas Edison
 
Quote from Rickshaw Man:

I have not failed 100 times. I have not failed once. I have succeeded in proving that those 100 ways will not work. When I have eliminated the ways that will not work, I will find the way that will work.

-Thomas Edison
More...

Another thing Edison figures out was that the end of summer was coming up right after Labor day.

The rich guys are going to be going back to work to warm up for the end of the year Quarter. (and they quit two weeks early at th end of the year.

The years profits ,for me ar divided into two parts: before and after Labor Day.

Tokyo note: think about onlydoing low risk high paced market trades. This a beginner absolute limitation. Print the three attachments I put in this thread and see how a falt day makes money for a person who can read the DOM type stuff.
 
Quote from tokyotrader:

Today was a rough day. -125 on 7 trades.

I was getting completely faked out by large lot activity.

Any of you longer term traders have any views on upcoming direction?

Seems like we could easily slip back into that 10400 - 10300 range again.
More...

Likely, I am watching it closely, today is vital day for the overall direction. IMHO
 
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