YM Traders
- Thread starter volente_00
- Start date
Well a couple of things and I am done too.
First it is the principle that counts. I am pretty sure that what I suggest is the way for you to go. I say it, because I have been there and fortunately for me, I had a good man next to me saying the same thing I just said to you. Take it for what its worth. It was one of the turning points in my insignificant career.
Second, for those of you who comment that he missed some profits. So what...He came away with good money and he made the call. In my opinion, calling the open is the hardest thing to do, and I don't see you rocket scientists doing any better.
Good luck tomorrow everyone.
Steve
First it is the principle that counts. I am pretty sure that what I suggest is the way for you to go. I say it, because I have been there and fortunately for me, I had a good man next to me saying the same thing I just said to you. Take it for what its worth. It was one of the turning points in my insignificant career.
Second, for those of you who comment that he missed some profits. So what...He came away with good money and he made the call. In my opinion, calling the open is the hardest thing to do, and I don't see you rocket scientists doing any better.
Good luck tomorrow everyone.
Steve
Hello,
What you said is true earlier, I am still trading 2-3-4k lots right now, I don't have max size right now mainly because I'm still ironing out the problems, tweaking and all.
In fact just on friday I picked up a new volume idea to utilize today, I even posted it on friday to porgie.
The interesting thing is I am in no rush, When I moved over from futures to stocks, there were 2-3 opportunities every single day instead of once every 3 days in YM. I'm in no rush... Leverage/Money in the financial markets really has no bearing, Its all about the skills/ideas.
Pekelo,
I will explain later to you why its better to short at certain areas instead of others, after the market, I need to code something right now.
I congratulate Coolweb on that trade. Only reason I mentioned the missed portion was because:
1. He said it was impeccable timing. Well, it wasn't.
2. He didn't follow his own prediction going short from the open or at the high of the day. He missed that by more than an hour.
Otherwise I congratulate everyone today because finally we are talking about trading in a quite intelligent manner. Thanks everyone....
I also agree with mhashe about the bounce and I am long from here....(10885)
Advice:
long on a clear reversal day
is very low in reward.
How much did you risk?
How much do you think the market will rally?
Sure the rally will rally 10-20 points
but is it worth the risk?
What did you risk for that 10-20 points?
If It was 1 tick, I'd say OK.
If It was 5 ticks or 8 ticks, thats a huge waste of time.
I'd rather not trade at all.
Trading against the current is like running a marathon bow legged. Unless you got some special golf carts waiting for you to cart you away to the finish line when nobodys looking (real stat proven edges/ or hyper scalping (1-2 ticks) Don't bother.
long on a clear reversal day
is very low in reward.
How much did you risk?
How much do you think the market will rally?
Sure the rally will rally 10-20 points
but is it worth the risk?
What did you risk for that 10-20 points?
If It was 1 tick, I'd say OK.
If It was 5 ticks or 8 ticks, thats a huge waste of time.
I'd rather not trade at all.
Trading against the current is like running a marathon bow legged. Unless you got some special golf carts waiting for you to cart you away to the finish line when nobodys looking (real stat proven edges/ or hyper scalping (1-2 ticks) Don't bother.