Thanks alot for all the feedback. I will test out a 10 tick stop on the sim and we will see how that goes . One thing I feel I am good at is following my stops and my rules. The one thing I need to work on is when to take my profits. I will often allow 10 tick winners to retrace to my point of entry and then get stooped at break even.
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YM Traders
- Thread starter volente_00
- Start date
Quote from Mr.B:
Thanks alot for all the feedback. I will test out a 10 tick stop on the sim and we will see how that goes . One thing I feel I am good at is following my stops and my rules. The one thing I need to work on is when to take my profits. I will often allow 10 tick winners to retrace to my point of entry and then get stooped at break even.
Mr B:
Unless you're scalping, 10 point profit targets on the YM are a little tight. Volente's "Rule of 20" along with porgie's "20 point batch moves" can shed some light on the YM's intraday movement. The YM has a 100 point average daily range. You may want to look for entries that would put you in line to capture a larger chunk of this range.
MiniDowTrader
Quote from MiniDowTrader:
Mr B:
Unless you're scalping, 10 point profit targets on the YM are a little tight. Volente's "Rule of 20" along with porgie's "20 point batch moves" can shed some light on the YM's intraday movement. The YM has a 100 point average daily range. You may want to look for entries that would put you in line to capture a larger chunk of this range.
MiniDowTrader
10 ticks is only my stop loss. I am looking to pick up atleast 20 ticks from each trade. Can you explain the "rule of 20" and "20 point batch morves." I have tryed doing a search and have not been able to find anything that explains them.
Thanks,
B.
Quote from Mr.B:
10 ticks is only my stop loss. I am looking to pick up atleast 20 ticks from each trade. Can you explain the "rule of 20" and "20 point batch morves." I have tryed doing a search and have not been able to find anything that explains them.
Thanks,
B.
Mr. B-
Do a search for "20 point batches". This will point you to both references.
MDT
Quote from MiniDowTrader:
Mr B:
Unless you're scalping, 10 point profit targets on the YM are a little tight. Volente's "Rule of 20" along with porgie's "20 point batch moves" can shed some light on the YM's intraday movement. The YM has a 100 point average daily range. You may want to look for entries that would put you in line to capture a larger chunk of this range.
MiniDowTrader
100 point average range in a 24 hour period maybe. Since the cash markets opened @8:30est the range in YM today has been 45 points. I have seen periods last summer that lasted for months were the daily range 8:30-4:00est in ym has been 20-30 points.
Now if you trade 24 hours a day or have a partner then you chances of success are far greater.
Half of the gains today in the Dow mini contract occurred from midnight till 5:00am this morning on a little over 2000 contracts.
Expect this pattern to continue thru out the summer, by the time you wake up here in the US you will be left to scratch and claw to make 20 points, factor in your commission and any overhead costs and the mental pressure and you will soon come to the same conclusion I came to last summer. Sit back and wait for the corrections.
Expect this pattern to continue thru out the summer, by the time you wake up here in the US you will be left to scratch and claw to make 20 points, factor in your commission and any overhead costs and the mental pressure and you will soon come to the same conclusion I came to last summer. Sit back and wait for the corrections.
Quote from myminitrading:
100 point average range in a 24 hour period maybe. Since the cash markets opened @8:30est the range in YM today has been 45 points. I have seen periods last summer that lasted for months were the daily range 8:30-4:00est in ym has been 20-30 points.
Wow. Who peed in your cheerios?
I see a 60 point move from the 10:30 reversal zone.
Quote from myminitrading:
Half of the gains today in the Dow mini contract occurred from midnight till 5:00am this morning on a little over 2000 contracts.
Expect this pattern to continue thru out the summer, by the time you wake up here in the US you will be left to scratch and claw to make 20 points, factor in your commission and any overhead costs and the mental pressure and you will soon come to the same conclusion I came to last summer. Sit back and wait for the corrections.
Huh??
YMM6 RTH (regular trading hours) only
as of approx 3:50 EST
LOD = 11390 @9:52 EST
HOD = 11459 @1:40 EST
Bottomline, less than 15pts were "kept" by the midnite rally crew.
sorry, but all above is greek to me............all i see every day is beautiful stuff...........unbelievably tradable.........pictures i see make me wonder what others see at same time..........there is nothing to be gained by the million bits of information.........get 2 or 3 and trade them while you try to flush the rest of million bits of information from your minds........in other words keep it simple, never try to guess what the next bar brings, ..........i f u do, you are flying by seat of pants.........crash coming soon........unless u trade based on lots of realtime testing if u r intraday ym es nq.......