YM Traders
- Thread starter volente_00
- Start date
Hmmm. In my real account I don't have enough $$$ to comfortably trade more than 1 YM contract with a 10 point stop.
Just for grins I've been paper trading like volente does. 2 contracts, 20 point stop. At 10 point profit, sell 1 and set stop to BE.
So far, 3 trades, 3 wins.
Trade 1:
Buy 2 at 10405
Sell 1 at 10415,MFE=10,Net Profit=45.2
Sell 1 at 10405,MFE=12,Net Profit=-4.8
MAE=6
Trade 2:
Buy 2 at 10401
Sell 1 at 10411,MFE=10,Net Profit=45.2
Sell 1 at 10403,MFE=12,Net Profit=5.2
MAE=17
Trade 3:
Buy 2 at 10430
Sell 1 at 10440,MFE=10,Net Profit=45.2
Sell 1 at 10435,MFE=15,Net Profit=20.2
MAE=4
As you can see, Trade #2 was a real nail-biter with an MAE almost to my original 20 point stop.
Just for grins I've been paper trading like volente does. 2 contracts, 20 point stop. At 10 point profit, sell 1 and set stop to BE.
So far, 3 trades, 3 wins.
Trade 1:
Buy 2 at 10405
Sell 1 at 10415,MFE=10,Net Profit=45.2
Sell 1 at 10405,MFE=12,Net Profit=-4.8
MAE=6
Trade 2:
Buy 2 at 10401
Sell 1 at 10411,MFE=10,Net Profit=45.2
Sell 1 at 10403,MFE=12,Net Profit=5.2
MAE=17
Trade 3:
Buy 2 at 10430
Sell 1 at 10440,MFE=10,Net Profit=45.2
Sell 1 at 10435,MFE=15,Net Profit=20.2
MAE=4
As you can see, Trade #2 was a real nail-biter with an MAE almost to my original 20 point stop.
You have to love days like this where the support is so clear cut.
YM hint for the day
If you see a break down and want to fade it, wait for the YM to get 20 points below the previous low before jumping in, and if it it breaking out and you are bearish, wait for a 20 point move over the previous high before shorting.
I call this simple rule, the rule of twenty and it also correlates with my stop loss. You will be surprised how something so simple can keep you from getting whipped around.
If you see a break down and want to fade it, wait for the YM to get 20 points below the previous low before jumping in, and if it it breaking out and you are bearish, wait for a 20 point move over the previous high before shorting.
I call this simple rule, the rule of twenty and it also correlates with my stop loss. You will be surprised how something so simple can keep you from getting whipped around.