YM Traders

Quote from ripcat:

Traders :).

How many pts do you most of you guys use for stops? Is 5 to tight for YM? Anyway tips would be helpful.

I try to keep a hold on my risk factor but at times I seem to get bumped out too soon.
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5 is too close.

Markets are pure chaos, and you cannot go in with a set system or what not, you have to be flexible. There are times when you should only trade one contract, then there are those times when you should put on 5, 30 etc.

You cannot have a set stop. Sometimes, you should have a 3 tick stop, sometimes, no stop etc. You should be dynamic and ever changing.. Thats the only way you can survive chaos.
 
I donated 20 points of profit to the rally. Still finished the day with 4 winning trades out of 5 for a total of 68 points after the loss. I am still waiting for porgie to post some of his mythical system trades. My goal is not to have a 100% win ratio. That only exist in fantasyland and I am a realist.
 
I use a 20 point stop. A 5 point stop is just asking to give $25 to the market. The key is to figure out what works best for you and adjust the parameters to fit yopur trading style.
 
I agree with Ripley stops are not fixed, I think it's best to use risk adjusted stops and risk adjusted position sizing.
 
Wow 20 pt for a stop :)? Thats a pretty big risk wouldnt you say. I have only been doing futures for a few months but, I am somewhat familiar with the market. I can say I'm at a small gain but I lose alot and only trade max 3 contracts at any given time. I just get bumped. I do trade er2 some but I like YM in general and take a swing or 2 a few times a week at the Eur.

Thank you all for the tips :).

Have a SAFE Weekend.
Happy Trading!!!
 
20 points is only $100 a contract.
What is the point of having a 5 point stop if you get stopped out 4 times in a row because it is so tight ?
My win ratio jumped from 40% to 80 ish once I started using a 20 point stop. But like I said experiment with different ones until you find what works best for you.
 
volente go over to the trader p/l board. they got cats on there making 5-10k every day trading penny stocks that never ever lose. they're fantasy traders
 
"You cannot have a set stop. Sometimes, you should have a 3 tick stop, sometimes, no stop etc. You should be dynamic and ever changing.. Thats the only way you can survive chaos."


So how do you determine when to use a stop or how much ?
Sounds kind of wishy for a trading plan, especially the no stop part.
 
To me the whole blotter thing is a joke, although I think a few are truthful, for those guys claiming to make the coin, start posting the trades real time, anyone can doctor a blotter but it is impossible to doctor a timestamp. I am not always right but the good part is I do not have to be as long as I follow my rules and practice discipline.
 
Quote from volente_00:

To me the whole blotter thing is a joke, although I think a few are truthful, for those guys claiming to make the coin, start posting the trades real time, anyone can doctor a blotter but it is impossible to doctor a timestamp. I am not always right but the good part is I do not have to be as long as I follow my rules and practice discipline.
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I don't understand why someone would do that.

Do they think if they throw a few extra 0's on there, they are more "cool"?


I don't know if people on here do that or not, but trust me, it doesn't make you cool, it makes you more of an idiot trying to impress traders on a forum when we will probably never meet you in real life anyways.

I'm a newbie, and I intend on posting my blotter every day after I get my account set-up. I will only be trading the last hour, and one or two contracts, so I don't expect to see more than 200 in any one day. But I sill stay home a few days and trade the whole day. I will post my blotter, just because I'd like to show newbies that they can trade too if they really do work at it.

But to people who modify their blotter to look better. You have very big problems, you are looking for false security, and if someone actually did that, I can already tell they are a bad trader.

I don't know if ANYONE does that, and I wouldn't even know anyone to accuse of that, but if you do, I just think you should use your brain.

To all that post the real thing, good job, keep it up.
 
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