YM Traders

Here is an example of impeccable timing:


If you look closely
you will know

1) price never goes above my entry point

2) I always enter using partial lotting/ average price which is why you never see me size.

The people who can learn from this will look carefully on how entry is done. Always enter on confirmation not just from your stock but from your index as well.


Enjoy.
 

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Quote from pinabetal:

Yep, throw off volume and you just lost your view on smart money. Odds definetely favor a slide down Monday in YM. I am already short YM. Hit profit on NQ and ES friday. Fridays bar, narrow spread closing low and made on low volume shows no "smart money" much interested in pushing it on up. If they aren't behind the up move then it will probally head down monday; at least make a lower low. Combine that with the fact that the bar for thur was up bar but on decline volume and you have another indicator of weakness. My 2 cents worth.
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Like I said..the odds favor a slide down. Did good shorting but tuesday since markets weren't open monday.
 
By the way, why don't you play the YMs instead of the stock? You made 3% with the stock, with YMs that would have been 80 or more points, that is 20% with a 2 K account....
 
Quote from pinabetal:

Like I said..the odds favor a slide down. Did good shorting
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Agreed :) Good work pinabetal. I'm glad we are both on the right mindset track and can actually call it out.
 
Quote from mhashe:

12-23-05 06:26 PM

Short 6 cont. 10945 stop @ 10965. tgt 10910

Merry Christmas.
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I was short going into Christmas expecting this selloff, unfortunately got stopped out in the overnite session. Put the position back on and covered at 10900.

As long as we dont break below 10860, this is normal trading range behavior. Long @ 10882, expecting a grind up to 10920/10930 by EOD. See Wed Dec. 21st. for similar behavior.
 
Quote from Pekelo:

By the way, why don't you play the YMs instead of the stock? You made 3% with the stock, with YMs that would have been 80 or more points, that is 20% with a 2 K account....
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Good question

Check my stock that I'm shorting
VS YM.D

Who is falling more right now at this exact moment.

Your question has been answered. Now you understand :)
 
Okay,:

You were doing pretty well up until this last post.

If you saw the exhaustion move comming, why small size? Why not step the gas and make some real money? You didn't have confidence in your call is why. You were hoping it was right, but you didn't know for sure. Thats fine. Thats where we all start and end. But you don't like to admit it.

Heres something that will help YOU brother. If you have a talent for picking winners (maybe you do, maybe not), then realize that you have to have the balls to put it on the line. You commented on my stop size, how about yours. If you have this down like you say. Put on size (your biggest size without compromising your account) and let it all hang out. If you read the day as a high probability trade, trade it that way. If you have an account with $300,000 in it, use it. There is an opportunity cost associated with doing things half assed. Today's open is gone babe. You decided to put on a few shares at a time and now its over. Tomorrow you are at risk again. Your the one talking about risk/reward, If this is the way you play it, no wonder you stopped trading futures. Eventually you would get your ass kicked that way. Not because you can't trade, but because you don't take enough risk. You talk about trading big and show a trade record with 3,2 and 1s. I got news, thats not size. Add some zeros and get real. The concept is right. Now all you need is to take that last step.

By the way, for those who might be reading this and have reviewed my comments about Traders International. Re-read the post. You will see that my main comment relates to the stress of holding a size position. THIS is what I am talking about. IT IS VERY HARD psychologically to pull the trigger on a size trade. HARDER STILL to hold it through the pain and uncertaintly as it wiggles around. THIS is why newbies can't (very rarely anyway) learn to trade in chatrooms. You can't teach this. IT is like the first time you swim in the deep end of a pool. At some point you have to have the courage to let go of the side, push off, and tread water.

I hope people understand my comments as encouraging traders to think about the concept, not as criticsim, Coolwebs trade was a sharp one no doubt.

Steve
 
steve
I blanked out a lot of share counts,

I'm short over 2000 lot

This stocks 3 min only has 30k volume, I'm not going to be shorting the whole 3min avg here.

The higher the liquidity the more stocks I may short unless I use my special short method. which I edge in without the market maker/ specialist noticing to whip me.

COVERED all MERQE 28.45 + $1.55
Thats over (4-5%)
(3.1% cummaltive) or so.


I am done now.
 
Well, about timing. Not too be overly critical, but you missed a good 60 cents drop in MERQE. You should have followed your on prediction and shorted it from the open. It happens to me all the time too, I can't follow my own predictions.

About the YM vs. stock, I would still trade the futures. It gives you a better % when you are right (and you are right, right? :) ), not to mention the tax advantages....
And by the way MERQE is bouncing back by 20 cents right now....

Edit : I just saw you covered MERQE, now that was good timing!
 
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