YM Traders

[porgie]

vol,

very few patterns work extreme accuracy....unfortunately that is all i can accept..extreme accuracy....i used a few great patterns but for the most part have stepped up from pattern usage...........same with candles.....can be very helpful, but i pushed it to the limit and don't use either now......pushed it to the limit says it all............when i watch the market unfold each day I finally see how unimportant I am in the process once the system was in place....operating the platform is all i am into........all questions answered ...........entries, exits, stops, are all cut and dried....over and over and over some more............Friday was an anomaly day...........but trend was so clear early that who was going to change the channel? nobody....when those days start shaping up with the lower highs and lower lows or vice versa we need to recognize that and go to longer charts for clarity of run..............nothing is for the day untill day is done........then it's too late if we can't see it as it unfolds...not before but as it unfolds.........or just after it happens.......not before.............before is why mos tall fail...........before is guessing.....whipsaw....range....trend ...can all happen in same day that is what took me forever to develop it.....it gives same entry signals in all markets, and exits signals look like entry signals............intraday and guessing spells recipe for disaster........

 

[porgie]

vol,

the 10:30 reversal is not hogwash..anything that works well for you is not hogwash...........system removes needin g to know much of anything.....especially times......but times is not anything i care a lot about.....I spent years worrying about times....and news, and now no external information enters my mind during tradin g day if i can avoid it......it is just the s ystem tells me when to enter...it is deadly accurate, so i don't need to know about times just know what the system is saying which is buy/sell....even when whipsaw is on....enter exit....it is not rocket science.........but it is difficult....because the human mind is absolutely nuts when the unknown is ahead and that is case all day and every day for this business...tha t is why i took me out of the system and went pure mechanical......put together a few simple things that are working the same as they worked 5 years ago...all mechanical systems do not eventually fail.....just not true......maybe all systems seen by most..........pushed it too hard, vol............way too hard........happy trading neighbor and friend.......cha t anyone?

 

[buzz]

Quote from porgie:

vol,

the 10:30 reversal is not hogwash..anything that works well for you is not hogwash...........system removes needin g to know much of anything.....especially times......but times is not anything i care a lot about.....I spent years worrying about times....and news, and now no external information enters my mind during tradin g day if i can avoid it......it is just the s ystem tells me when to enter...it is deadly accurate, so i don't need to know about times just know what the system is saying which is buy/sell....even when whipsaw is on....enter exit....it is not rocket science.........but it is difficult....because the human mind is absolutely nuts when the unknown is ahead and that is case all day and every day for this business...tha t is why i took me out of the system and went pure mechanical......put together a few simple things that are working the same as they worked 5 years ago...all mechanical systems do not eventually fail.....just not true......maybe all systems seen by most..........pushed it too hard, vol............way too hard........happy trading neighbor and friend.......cha t anyone?

I don't buy you cliams,Why because you don't put money on the line, You can have the best method in the world not much good if you dont understand how to compound

 

[joecgoodman]

Quote from volente_00:
Summary

T day theory.

MWF short bias

T days long bias

Short the up spikes and gap ups on MWF.

Buy the gap down and down spikes on T days.

01/01/2005 through 01/20/2006

Mondays: 25 up days, 21 down days (4 more ups than downs)

Tuesdays: 26 up days, 29 down days (3 more downs than ups)

Wednesdays: 30 up days, 25 down days (5 more ups than downs)

Thursdays: 29 up days, 25 down days (4 more ups than downs)

Fridays: 29 up days, 24 down days (5 more ups than downs)

Summary:
Only Tuesdays had more downs than ups over the past year, and only by a margin of 3.

Conclusion:
There may be some other factor I'm not taking into account. Otherwise, I can't see a value in starting the day with a bias based on the day of week.

 

[porgie]

Mind bias is the real reason most fail.........intraday it is deadly.......poison......but here you will learn all the best strategies...........Buzz............doubt me all u wish.....that is the fun of th is forum.......there is nothing here for new traders, only bad advice...........I actually have about 8 or 9 systems over 90 percent so if u are not that high on even one, no cigar.........sorry.........I pay the same fee to post here as others...I love to read the "u don't trade" stuff..........real traders don't talk their real stuff in public....and the really good ones don't sell it either...........emini stuff..........

 

[joecgoodman]

Quote from volente_00:

jocgoodman,

tell us your story, what kind of strategy have you been trying on ym, etc etc. There are alot of good folks here that are always glad to help fellow traders get on track.

My main strategy lately: trendline breaks on a 38 CCI using 500 tick chart of ER2.

Am very interested in YM now, and would like to learn to trade price action rather than indicators. I'm going to be doing some backtesting today on your Rule of 20, volente. Any specifics or nuances you can share on that would be appreciated. I'll gladly share my findings when I have them. Also, I write a little EasyLanguage in TradeStation and am happy to share.

 

[joecgoodman]

Quote from volente_00:

And 10:30 reversals are just hogwash right ?

Quick question, volente. When you talk about 10:30 and 12:00, you're using Eastern time zone, right?

The reason I ask is, I use 1 hour into market open (10:30 eastern) as a significant time to look for a reversal also.

 

[Jax]

The Dow is much easier for me to trade and Just wanted some opinions on why the YM is not as heavily traded as the ES. I understand that the ES gives a clearer picture of the "market," but there seems to be a huge difference in volume between the two.

 

[joecgoodman]

Quote from Jax:

The Dow is much easier for me to trade and Just wanted some opinions on why the YM is not as heavily traded as the ES. I understand that the ES gives a clearer picture of the "market," but there seems to be a huge difference in volume between the two.

One factor causing higher volume in the ES would be arbitrage by the commercials. Another factor would be the timing of which instrument was available first. The ES had a big head start. But volume in the YM may be growing at a faster clip than the ES now. Most traders do find it easier to trade than the ES. As for me, I've learned several ways to lose money in both. But I definitely prefer the YM's smoother swings.

 

[Ripley]

Quote from Jax:

The Dow is much easier for me to trade and Just wanted some opinions on why the YM is not as heavily traded as the ES. I understand that the ES gives a clearer picture of the "market," but there seems to be a huge difference in volume between the two.

Dow futures, as well as the e-mini dow futures are the newest kids on the block.

S&P is the preferred vehicle for pension funds, and insurance industry to hedge their stock portfolios. And the big players are all in the ES because YM didn't have much volume since it only got started in 2002. But, YM is picking up and the volume is only headed up.