YM Traders

Quote from chewbacca:

30 point range today, you guy's gonna survive this summer?
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1) Small range days are GREAT for honing skills.

2) Any trader who "specializes" to the extent that the trader has only one product to trade is an idiot, imho.

FWIW, ER2 had 8pt range, C had 3+cent range and SB had .18 range. I don't trade energy or currency at this time, but those products were tradable for profit as well, Im sure.

Here's to the dog days :D

Osorico
 
See, I have a hard time saying that the pts I make are on 2 contracts because i ALWAYS enter with a 1 contract position and I am out when the stop is hit. I only add to WINNERS and also move my stop to BEP when I already added to a winner. And it is very rare that I add to a position, maybe an avg of once or twice while I make 20 or 30 trades.

But, it really isn't just trading one contract...but at the same time it isn't trading 2 cars either.

I like to say that it is ONE contract because I am not taking any risks with a 2 car position. My 2 car positions are risk free because the stop is moved to BEP. I like to say that it is still ONE contract trading because all the stop outs will be on one car.

Quote from optioncoach:

So if you trade 2 contracts then 100 points for the week will give you your 200 points. I am asking because I am also working on daily and weekly goals and when I read others I want to know if they are talking about actual point moves no matter the contracts or are multiplying the number of contracts by points.
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Quote from optioncoach:

So if you trade 2 contracts then 100 points for the week will give you your 200 points. I am asking because I am also working on daily and weekly goals and when I read others I want to know if they are talking about actual point moves no matter the contracts or are multiplying the number of contracts by points.

My personal goal in a general sense is minimum 60 points a day on 1 contract, or 30 points if I use 2 contracts, 10 with 3 contracts depending on the signals I get. I am sticking with about 2 contracts a position on average as I get a better feel for my entries and exits. Actual points will be more or less depending on losses or small gain days of course. ALSO, this is on MULTIPLE positions through the day, not ONE position looking for 60 on 1 contract (just want to be clear so that people do not rush in telling me getting 60 points on one move is not likely). Today I got my 60 points but it was on 7 or 8 trades inclulding 2 losing positions.

So it is just curiousity of when people say points. So I assume you meant 200 points whether it was 1 contract or always 2 contracts for 100 points, etc...

Anyone, hope to post my positions in real-time as best as I can since it is hard ot look away long enough to type when it is on lol...

Below are today's trades including the early losses.. Will try and do it as often as possible to keep disciplined.
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Hi Coach...

Personally, I use TOTAL points, regardless of #contracts/trades.

There was a time when I was gung-ho on per contract stats. At the same time I was also gung-ho on trade efficiency; You know, trading as infrequently as possible given the circumstances of the day. Then I woke up!!! Unless you have aspirations of working for some shop or fund, who cares!! Hone your skills and apply them everyday to the hand the market deals. I mean think about it... markets trend only 20% of the time. The other 80% of the time they move sideways aka consolidation. It's silly to think you can achieve some predefined per contract goal in all types of markets. It's even sillier to think you can be trade efficient in all types of markets and still meet per contract goals. The goal is be green everyday. And to do that you have to have different trade methods for different days.

I shoot for 150 YM points per day. Sometimes it requires scalping 3, 4, 5 cars multiple times, other times 2 cars in a single trade does it. Somedays nothing works out. You gotta have the skills to play the hand. No need to care WHY or HOW the hand is dealt. The only stat that counts is the size of your account at eod.

good luck,
Osorico
 
I trade 3 contracts at a time.... if my Frankenindicator is not pointing at a direction 100% ... then i only go in with 2 contracts... but nothing less. To me 1 contract doesnt give you enough of a reward to keep you happy..... and sometimes will make you overtrade.

I hope to soon start trading 4 contracts..... then 5. then 6....

THEN 10....THEN 15.. bwwaaahaaa hhahahhh hahahahhh
..... i did great today..... did no trades!
 
I've seen 100's of notes here over the months but who on here is making a good living trading futures?Has anyone on here averaged 8k a month for a year straight?I've yet to see a futures trader make it 3 or 4 years.I believe the easy barrier to entry and huge leverage attract tons of people but few make it
 
Quote from bighitter1:

I've seen 100's of notes here over the months but who on here is making a good living trading futures?Has anyone on here averaged 8k a month for a year straight?I've yet to see a futures trader make it 3 or 4 years.I believe the easy barrier to entry and huge leverage attract tons of people but few make it
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egggsactly!!!
 
good question.
but prob no real answer.

Quote from bighitter1:

I've seen 100's of notes here over the months but who on here is making a good living trading futures?Has anyone on here averaged 8k a month for a year straight?I've yet to see a futures trader make it 3 or 4 years.I believe the easy barrier to entry and huge leverage attract tons of people but few make it
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People who ask this question usually have doubts in their own trading. And thus are secretly hoping that others will reply with reassurance..... thats "sure its possible" etc... etc...
So if there is a carved path before them.... then they will not feel lost... all these years of learning the markets was not for waste... that there is light at the end of the tunnel.... money can indeed be made....

BROTHERS..... break free from this kind of thinking..... throw away those psychological crutches.... and walk... walk i say.... to the light.... meet your psychological demon... and sock him in the eye.

There is a higher power my brothers...... but you must belieeeeve in yourself. hallelujah... praise the Lord.

My dear brothers and sisters... i will leave you with my poem.... poem of hope....poem of faith....poem of the power thats inside allll of you.... thannk you lawd!! The poem is called "TICK PRINTS"

I Lilduckling made a market monster, i called it Frankenindicator.
My Frankenindicator was good, and pleasing to the eye and mind.
Me and my Frankenindicator became best friends. It told me it would always be with me. That it would never leave me.
Through TICK and TRIN, it would always stay by my side. Me and my indicator had great times together... the laughter we shared.... the pts from YM we netted.... times were great. As i reviewed the daily P/L.... i would always see two sets of prints in the charts... mine, and Frankenindicator's.

Together.. we prospered. Then one day.... things began to go sour... a darkness hovered over my charts.... and i experienced some of the worst trades ever. I looked at my charts and there i could only see one set of prints.... my heart was broken... for i had been abandoned to fight these loses alone. The demons began to peek out of the closets... i had the biggest loosing week in my career. Finally... when the darkness was lifted i once again saw my Franken indicator. I was upset.. and asked it: "Frankenindicator... where were you??? You said you would never leave me... but as the winnings stopped... and the loses began..... i only saw one set of prints in the charts... where did you go?

"I was carrying you" answered the Frankenindicator.
 
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