YM in a Can

ElectricSavant

ElectricSavant

I hope this journal will give the new traders(or old idiots like me) in this forum ideas on how to trade. I do not know how long I will post to it, we shall see.

I am testing an equation someone posted in another thread. I just tested level to level without indicators(one poster recommends the use of confirming volume and momentum in another thread).

This is 24 hr trading and to start the first trade,(the wife will kill me when I put speakers in the bedroom to hear the platform dings) I simply entered the first level realized (h3,h4,l3,l4) then I entered in a bracket around the entry with a stop and reverse (double contract) with whatever the next levels were. If it was a breakout trade (h4,l4) then only one side of the bracket is entered. If I go into a new session then the equation is re-calculated and the new levels entered in the trading platform as limit orders. To simplify this I simply print out the spreadsheet and write in my trades on the spreadsheet and put it in my 3-ring binder with my trade journal pages.

Here is a list of the trades so far: (the reason for this journal is to see if this will be profitable in the YM)

04/27/04 short 10485
04/27/04 reverse long 10512 (-$135.00)
04/27/04 reverse short 10485 (-$135.00)
.......................................................................................
04/28/04 NET SHORT INTO NEXT SESSION FROM 10485
04/28/04 reverse long 10443 (+$210.00)
04/28/04 reverse short 10420 (-$115.00)
.......................................................................................
04/29/04 NET SHORT INTO NEXT SESSION FROM 10420
04/29/04 reverse long 10300(+$600.00)
04/29/04 reverse short 10386 (+$400.00)
04/29/04 reverse long 10300 (+$430.00)
04/29/04 reverse short 10256 (-$220.00)
.......................................................................................
04/30/04 NET SHORT INTO NEXT SESSION FROM 10256
04/30/04 reverse long 10218 (+$190.00)
.......................................................................................
05/02/04 NET LONG INTO NEXT SESSION FROM 10218
05/02/04 reverse short 10238 (+100.00)
05/02/04 reverse long 10272 (-$190.00)
......................................................................................
05/03/04 NET LONG INTO NEXT SESSION FROM 10272

Well here it is. Trading the YM using this equation below.

Michael B.
 

Attachments

just remember ES, the markets are constantly changing

what worked in the past will not necessarily work in the future

(not trying to flame, but stop looking for the holy grail, it's not there :D )
 
Ok, IgOr. The chop might hurt us in the future, but the YM seems to smoothly trend and might work a little while.

Michael B.

P.S. I have always enjoyed your journals...that "lottery ticket in the drawer" one with the penny stocks was my fav.



Quote from ig0r:

just remember ES, the markets are constantly changing

what worked in the past will not necessarily work in the future

(not trying to flame, but stop looking for the holy grail, it's not there :D )
More...
 
A few questions:

1.) What is your target on a long b/o or a short b/o?
2.) If you short at h3 (or long at l3), what is your target in that case?
 
1) Since it's 24 hr trading the next calculation into the new session gets us out of the breakouts.

2) There is a bracket around the h3 and L3 trades as above. (YM is only $5.00/point so don't worry)

Michael B.

P.S. I will try to add the trades in the spreadsheet. Just trying to fit them in.


Quote from snooptrader:

A few questions:

1.) What is your target on a long b/o or a short b/o?
2.) If you short at h3 (or long at l3), what is your target in that case?
More...
 
Well good luck with your trades. I know that T-REX will certainly be disappointed that you have left his mentorship in following the YM. He will be back down to having 0 clients again.
 
Hey Guys:
The reference to T-Rex just tickled me. The last time I commented on one of his posts, he suggested that I "idolized" him :D He may believe that there is a "fan club" somewhere amongst these posts. Perhaps he is hopeful that he can sell T-shirts with a picture of his smiling face on the front. I know that I would be one of the first to purchase one. Best of luck Michael with your investigation. Steve46
 
Quote from ElectricSavant:

P.S. I have always enjoyed your journals...that "lottery ticket in the drawer" one with the penny stocks was my fav.
More...
That was random trader's journal.

To insure you don't miss any trades, it's imperative that you put the speakers on full volume. Good luck!
 
steve46,

I look forward to any of your common sense comments that you post. I enjoy your thoughts and learn much from what you share.

Michael B.
 
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