YM Traders

Instead of scalping, you have to go for the bigger moves. Then 3-5 points slippage will not effect your size...

Or you might want to switch to the big Dow. More expensive, less contracts....
 
Quote from sammybea:

Okay, so I just started trading the YM and had a simple question about liquidity. I understand that I can probably get in and out with about 10 contracts without slippage.

But lets say my daily target is 10 points everyday. And I want to make a million dollars over 12 months (cause I am one greedy and unrealistic guy!) How the hell am I supposed to pull in approx 5 grand a day through the YM? Thats basically 100 contracts for my average of 10 points per day. Is it pretty much impossible to daytrade that size to reach my goals?

On the other hand with the ES, I feel like you can daytrade and make over 10 million in one year if you have the skills.
More...

It's a matter of your trading style. personally I've had many 1k days and a few 2k days. I've never traded over 22 contracts in a single day with a max per trade of 5. So can 5k a day be done with YM, absolutely, assuming the market is trading in some kind of tradable range.

If you're scalping 10 cars at a time, I think 5k+ is possible as well. There are at least 100 opps each day to pick off 3 to 10 points, again assuming some sort of tradable range. Scalping isn't my thing. Although I have done a bit more lately purely to boost daily PnL. Average per contract suffers, but who cares :)

good luck

Osorico
 
cannon trading......they have the simplest platform imaginable........bestonline......is commonly used throughout the industry.........very user friendly......i am no computer geek so i need simple......
 
the question came up yesterday about other markets, etc......news........etc...........the question about high of day was not relevant to your trade.....a plan for exiting with positive points is..........instead of trying to guess where it was going......as soon as u internalized it u biased your mind........i hpe u made money on it or paper points whichever u are doing..........entry is easier to get right than exit.......for most.........in my mind the only baad thing is losing money
 
Porgie, as an experienced trader you should know entry is the most important part of your trade. Exit counts more only if you are in a losing trade.
 
i said i am old...mabe confused also.........my system is 100% mechanical...........so entry is easier than exit..........for me.........i didn't say it wasn't very important........it is critical to be in correctly for risk/reward.......etc......and quickly and safely moving to BE.......safely referring to safe from stopout......
 
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