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YM Traders
- Thread starter volente_00
- Start date
Quote from volente_00:
Mind reposting the link, nothing comes to mind off the top of my head. 100 YM is decent size with the liquidity issue. Does he scale out ?
The link is buried waaay back in the begining but it was to a cbot webinar by Trade the markets.
Like I said he scales in, he doesn't do a 100 order. If you watch time and sales you rarely see an order over 50 cars on the YM.
Yes he scales out. 1/2 at 5 points, 1/2 of remaining at 10, and the last quarter is discretionary.
If the market is so so he will do quarter size which is 25 cars. Also he said has swung 400 cars when the market is screaming!
BTW they clear their own trades.
porgie is not a trader.........only create traders and systems.....cyrus don't take the stuff here too seriously...just a bunch of bored people who need maybe a little rewiring like porgie........you are tellling it like it actually occurs and i'm sure very honest........the scaling in and out thing is what i was taught years ago........filthy rich boss ES only .........he had it figured correctly he just had a flawed system that killed us over and over........he was bigtime gambler.......with bigtime deep pockets full of money made in other business....... please excuse bigmouth porgie......
Quote from porgie:
porgie is not a trader.........only create traders and systems.....cyrus don't take the stuff here too seriously...just a bunch of bored people who need maybe a little rewiring like porgie........you are tellling it like it actually occurs and i'm sure very honest........the scaling in and out thing is what i was taught years ago........filthy rich boss ES only .........he had it figured correctly he just had a flawed system that killed us over and over........he was bigtime gambler.......with bigtime deep pockets full of money made in other business....... please excuse bigmouth porgie......
No problems here Porgie - I find you very entertaining and sometimes you give good ideas.
I like the stories about your old boss. Is he still trading?
cyrus,
actually afte r I left in 2001 due to hypertension and blood pressure dangerously high.......i kept in touch as 1 top trader and the office general supervisor are both good friends.....they told the the 2 inept trading bosses {boyfriiend girlfriend combo} who hated me because i didn't break rules and they did when the bosses were out and then lied about it, anyway they told them to hit the road......if they had left earlier i would have stayed with the man and we could have made it ........sorry to boast but my tenacity is surpassed by no one.......not arrogance, just a trait........i would have worked day and night for him with his money, programmers etc, we would have been great.....he was too hard headed and had a flawed system with very ugly risk reward ratio........10 pt stops ES........no move to breakeven ever.........sold low and bought high, in ohter words breakout trader gambling all the way..............they are now opening a steel industry related business which is where he made his millions ....... .they quit trading after 5 years of no success........i am happy with what i have to trade with...thanks friend and have a great life ..george
actually afte r I left in 2001 due to hypertension and blood pressure dangerously high.......i kept in touch as 1 top trader and the office general supervisor are both good friends.....they told the the 2 inept trading bosses {boyfriiend girlfriend combo} who hated me because i didn't break rules and they did when the bosses were out and then lied about it, anyway they told them to hit the road......if they had left earlier i would have stayed with the man and we could have made it ........sorry to boast but my tenacity is surpassed by no one.......not arrogance, just a trait........i would have worked day and night for him with his money, programmers etc, we would have been great.....he was too hard headed and had a flawed system with very ugly risk reward ratio........10 pt stops ES........no move to breakeven ever.........sold low and bought high, in ohter words breakout trader gambling all the way..............they are now opening a steel industry related business which is where he made his millions ....... .they quit trading after 5 years of no success........i am happy with what i have to trade with...thanks friend and have a great life ..george
Quote from porgie:
cyrus,
they are now opening a steel industry related business which is where he made his millions ....... .they quit trading after 5 years of no success........i am happy with what i have to trade with...thanks friend and have a great life ..george
I am now angry at you.
Quote from dieselman8:
Geez, losing 42000 in one day is alot. Who clears you??
It really isn't alot. Some people lose millions in one day. It depends how much a person has to lose. It would be alot of money to somebody who works at McDonalds full time and then trades futures on the side part time. I have heard of people doing that. LOL.
It just depends what your net worth is and how much you earn for a living. Losing 5.00 is alot of money to a some people. And winning 42K in a single day isn't enough for others.
Some sort of rally off these lows should happen.