YM in a Can

Yeah,

I know your right, I just wanted to hear it. An MIT order could catch an entry with a spike or a "not intended for technical analysis" type of entry.

Also, The YM tends to be "impulsive" in nature right now. The ES has matured with so much volume and traders, it has become tight and rangebound IMHO.

I think I will stick with native limits and non-native stop orders for now with the ecbot ym.

Thanks for you interest and the time you have taken to read this thread and to post,

Michael B.

P.S. for an ES trader the YM may not be as impulsive as I think. It is reflecting only $5.00/point and just appears that way. I would like to see more volume and 1 point spreads in it though.

P.S.S. I got a PM the other day from a trader who is using this system to trade the ES rather profitably. I played around in the historical Forex data last night. It makes eur/usd look wild when you put it in the "can"
 
For those of you who would like the updated spreadsheet PM with your Email address and I will oblige. (I can't attach it here as there are size limitations) Baron can you do something about that? I have heard other complaints about ET's size limits. (when your wife told you that size does not matter, you did not need to extend that into ET :))

Michael B. (to be banned)

P.S. seriously, thank you Baron, for this site.
 
Sorry Don Bright...Hope I am not keying your phrase.

net Short into the open from 10137 (long reversal bars 10189, 10026)

Please note this is the last time there will be a hold over the weekend. Too much can happen in the world to cause uncontrollable gaps. THIS IS THE ONLY CHANGE MADE TO THE SYSTEM FROM INCEPTION AND WILL BECOME EFFECTIVE NEXT FRIDAY IF THERE ARE NOT ANY COMMENTS OR BACKTEST RESULTS TO VOID THIS.

Let me illustrate the technical problem that can happen which helped me make the decision to change the system and go flat on Fridays close:
  • What if the Open is above 10189? What to do? This would be a bad entry multiplied times 2 (it is a reversal also).
  • What if the Open is below 10026? What to do? This would be a bad entry multiplied times 2 (it is a reversal also).
There are daily gaps into the new sessions but they must be less drastic than the weekends. Still it is prudent to prepare NOW for events during the week that can happen at gap time. So this is my thinking: If there is a gap that causes a "level breach" just execute the trade and take the lumps. It is more important to follow the system and stay in synch. Just escape and/or catch the move.

Michael B.
 

Attachments

I think I am wrong about the opening time according to CBOT.

The YM is 24 hours and opens at 19:15 cst/20:15est Sun and closes at 19:15cst/20:15est Friday with a daily break from 16:00cst/17:00est. till 19:15cst/20:15est.

Also do most charts name the trade day Sundays date with this next open? (for example tomorrow's calendar date is 05/09/04 or is the daily bar considered Monday date (05/10/04).

http://www.cbot.com/cbot/pub/page/1,3181,932,00.html

Michael B.


Quote from ElectricSavant:

Don't forget the YM session ends at 17:00 est and re-opens at 21:15 est.
More...
 
For simplicity I am trading this with hard static levels defined by the equation and simply pre-entering the brackets.

I got a PM last week that there are more effective ways to look at the levels the equation produces. There are hard and fast rules for discretionarily making entries based on price action. But this is for the folks that have time to set in front of the charts all day and are mentally/emotionally able to trade discretionarily with ROCK HARD discipline and fast acting thought processes and tools. I am not there yet and find comfort in system trading.

Feel free to discuss this here in this thread, but I cannot trade discretionarily. Besides I do not have the time These techniques cannot be auto-traded and require some discretion. I am NOT willing to give another person that sort of discretion to trade my account either. I prefer a system and to take advantage of it as long as it works.

Michael B.

P.S. As it is just now, I have 3 computers and four monitors on my desk. I am working on the phone all day at my day job while glancing at Futuresource and listening for dings from the platform(I love that sound). I tape on the monitor a post-it note with my current levels and when it gets close I try not to be on the phone. Fortunatly, I work at home and have few meetings. Last week I got very little done as my first love is trading. But like I said earlier, I have found someone that will enter the brackets for me the way it is being done here in this thread. Hopefully, they are reading this thread and will be able to start trading it for me next month when they get their night desk back. If not this will need to be auto-traded and monitored by me which I have no idea how to set up.
 
Quote from ElectricSavant:

I played around in the historical Forex data last night. It makes eur/usd look wild when you put it in the "can"
More...

It would be nice if any summary can be posted. :cool:
 
I don't know how to summarize it.

Oanda makes it very hard to match up the open and the close with the half hour bars.

I guess I could just go from midnight to midnight for the eur/usd looking at the 30min period. I don't know if this is standard open high low close measurments of standard daily bars but it may accomplish the goal. I can only go back a few day because thats all they give.

Michael B.


Quote from OddTrader:

It would be nice if any summary can be posted. :cool:
More...
 
Quote from ElectricSavant:

I don't know how to summarize it.

Oanda makes it very hard to match up the open and the close with the half hour bars.

I guess I could just go from midnight to midnight for the eur/usd looking at the 30min period. I don't know if this is standard open high low close measurments of standard daily bars but it may accomplish the goal. I can only go back a few day because thats all they give.

Michael B.
More...

Perhaps try these charts:
http://www.forexdirectory.net/chartsfx.html
http://www.gcitrading.com/fxtcharts.htm
http://quote.fxtrek.com/misc/fxcm.asp
http://www.fxstreet.com/nou/fxtrek/senseframescharts.asp
:confused:
 
Quote from ElectricSavant:

nah, you do it...it makes money. (too obscene to post)

Michael B.

p.s. What does 3000 pips equal ? Oanda profit calculator shows some funky decimal.
More...

Noted. I would guess the 3,000 pips can be anything such as say $3,000,000 (or even more, depending on your setting, according to what I was told). :confused:
 
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