Anyone Trading the YM Today?

Discussion in 'Index Futures' started by flipflopper, Jan 3, 2008.

  1. I've got one question....


    Are you fn kidding me?!?!!? WTF kind of action is this???? Look at that ugly fn chart Getting my ass kicked!!!!

    Hope things become more "textbook" soon!!!

    Rant finished.
  2. ark


    It's choppy. Unlike yesterday which was very much one-sided.. Just be patient.
  3. This is beyond choppy. This is multiple failed patterns and pullbacks with decent range and volume. Absolute randomness. If this was how I saw trading everyday I would agree with all the failed and traders and say that markets are random.
  4. Sounds like someone is steaming. Turnoff your machine and go for a walk...or take the rest of the day off.
  5. Really? This action is THAT bad?

    Guess it depends on your style of trading. Chugging along here, nothing to brag about, but booking some decent profits on the ES. I don't trade the YM, so perhaps it is a bit uglier today.
  6. Nope


    Volatility, consolidation,Volatiity, consolidation....

    Range Expansion, range contraction, Range Expansion, range contraction.

    Not so much random, just a cycle. Being patient and recognizing that today may not be the best day to put on large positions is the what the best traders are doing.

    The big boys/smart money are not active right now....that's okay, they'll need to come back soon and start pushing orders.

    Find something enjoyable to do with this free time.


    EDIT: I should add that my perspective is built on a 15minute time frame
  7. candles


    Exactly. These types of days tend to be my best trading days. Trend days usually kill me, lol.

    Todays been sweet for me.
  8. cvds16


    can't really complain, not great but not really bad either: three trades, two winners, one loser and we're not even halfway so expecting some more positive action.
  9. Not that choppy today. Seen much worse. To daytrade you need these big swings But to take advantage you must have your stops right.
  10. I guess I'm just frustrated and confused. Been getting whipsawed like crazy. I usually buy strength and sell weakness... so today.... not so good.

    Ironically I just shorted this last rally cause they've been failing so I'm sure a new uptrend is probably here.
    #10     Jan 3, 2008