YM Traders

Quote from Ragincajun:

True - but - just like stocks are they (the specialist) just making a market? Another words, at times selling or buying something they don't own? They ain't gonna buy a short back higher or sell a long lower than the price they paid as a rule....

:)
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Market makers in futures, especially electonics such as YM is rare, I even believe non-existent. However, market makers for OPTIONS on futures contracts are quite common.

As for buying back a short higher, or selling a long lower, In keeping with the market maker aspect remember... MMs are able to hedge thier account, unlike (most of us) retail clients. As such MMs have an added range of strategies available to them. No need to be concerned about MM profitability... they are!
 
there are market makers in futures. that is certain

however, futures are very different from stocks in the # of ways listed, and no market maker (s) has the power to significantly move the entire DOW or SP contract except for SOME wiggle during the doldrums period. this is in marked contrast to market makers on an individual stock, especially a smaller one

market makers benefit because they can trade w/o commissions, and use their computers to set up on both sides of trades.
 
Joey.....I know u have the stock investing experience to help JM.........If he is as sharp as he seems he must pick your brain..........seriously
 
congrats once again to all those who play the no risk over the weekend long futs system for no risk free money $$$$


you are truely an inspiration and there truely is no risk......$$$

NO FEAR!!
 
I'm still alive.

Adding content, drama, and excitement to most threads on ET... and love nailing the spammers which seem to be in high numbers lately.

Still alive.

Stock trading, that's a new one :p
This is going to be my first week trading stocks..... as soon as my new monitor gets here that is.

That is going to be an interesting adventure. Tough because I have to wait in line to get fills big time, cheaper because 1 tick = 1 dollar with 100 lots of shares. And at .007 per share, it's also cheaper for the fact that I'm not paying nearly 5 bucks per trade.

I'm only temporarily switching over to try and break me of my fear of losing.

I've nailed it down to 2 things that is preventing me from being a successful trader.

1. Fear of being wrong.
2. Fear of losing money.

Equities solve #2 because I'm risking less money, and again 1 dollar a tick and losing around 5 - 6 dollars a trade compared to losing 30 dollars per bad trade on Futures, it's a big difference for a trader trying to learn.

My fear of being wrong.... I think is generated partly because of #2, but after my father passed away, I've always tried to work hard and try to be right in my decisions, so there is another event that has hurt me psychologically.

I'm hoping the change will allow me to be objective in my trading, and will allow me to think clearly, instead of fear affecting me.

It's pretty much the only option I have unless they develop something on the line of Futures that is $1 per tick and my commissions weren't almost $5 dollars a trade.

Been less active on this thread, because I haven't made a single Futures trade for a good long time now.

Been studying psychology of a good trader and reading up many threads in ET and in books from Mark Douglas and such.

That's my goal, that's what seperates the good traders from the bad. That's what I have to do, so I'm going to do it.

Hope everyone else is doing well, and good trading to all.
 
Quote from JMowery1987:

I'm still alive.

Adding content, drama, and excitement to most threads on ET... and love nailing the spammers which seem to be in high numbers lately.

Still alive.

Stock trading, that's a new one :p
This is going to be my first week trading stocks..... as soon as my new monitor gets here that is.

That is going to be an interesting adventure. Tough because I have to wait in line to get fills big time, cheaper because 1 tick = 1 dollar with 100 lots of shares. And at .007 per share, it's also cheaper for the fact that I'm not paying nearly 5 bucks per trade.

I'm only temporarily switching over to try and break me of my fear of losing.

I've nailed it down to 2 things that is preventing me from being a successful trader.

1. Fear of being wrong.
2. Fear of losing money.

Equities solve #2 because I'm risking less money, and again 1 dollar a tick and losing around 5 - 6 dollars a trade compared to losing 30 dollars per bad trade on Futures, it's a big difference for a trader trying to learn.

My fear of being wrong.... I think is generated partly because of #2, but after my father passed away, I've always tried to work hard and try to be right in my decisions, so there is another event that has hurt me psychologically.

I'm hoping the change will allow me to be objective in my trading, and will allow me to think clearly, instead of fear affecting me.

It's pretty much the only option I have unless they develop something on the line of Futures that is $1 per tick and my commissions weren't almost $5 dollars a trade.

Been less active on this thread, because I haven't made a single Futures trade for a good long time now.

Been studying psychology of a good trader and reading up many threads in ET and in books from Mark Douglas and such.

That's my goal, that's what seperates the good traders from the bad. That's what I have to do, so I'm going to do it.

Hope everyone else is doing well, and good trading to all.
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Being undercapitalized is your biggest problem JM. As long as this is the case it will be very difficult for you to overcome your basic fears. What stocks are you going to focus on ? I would suggest trading DIA so that you only have to make minor changes if you decide to trade Ym again.
 
Quote from volente_00:

Being undercapitalized is your biggest problem JM. As long as this is the case it will be very difficult for you to overcome your basic fears. What stocks are you going to focus on ? I would suggest trading DIA so that you only have to make minor changes if you decide to trade Ym again.
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Yeah, but then again, I've been undercapitalized since I started.

Been tough, I believe it has tought me to be cautious with my money and force me to protect as much capital as I can. Because the fact is, the less I protect, well... the more destruction I cause to my trading.

So it's always been the case, always feels like the odds are against me. It's not new, but if that was off my shoulder, maybe could be more comfortable trading.


As for the equties trading....
Been thinking about trading:
DIA, QQQQ, S, AMTD, DELL, INTC, and AAPL at least for right now.

Each one is unique in many ways. Think it would be interesting.

Just have to develop confidence and eliminate fear!
 
Quote from JMowery1987:


It's pretty much the only option I have unless they develop something on the line of Futures that is $1 per tick
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There was this mini mini Dow a few years back which was 2$ per point. A lack of interest was the cause for the death of this one they told.
Perhaps there were not so many undercapitalized traders at the time.
 
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