BEST YM 1 Minute Chart Daytrading System

Discussion in 'Index Futures' started by increasenow, Dec 7, 2007.

  1. thanks...2nd person that has told me this week :15 sessions are key!...when you say "Buy supports and sell resistances"...do you mean the daily ones gathered from yesterdays trading numbers...or...newly configured intraday based on???...thanks for a 'honest' reply to an 'honest question'...
     
    #11     Dec 7, 2007
  2. Lorenzo

    Lorenzo

    You need to create your "right feeling"
    Observe a week with the configuration described above.
    Use classic pivots based on all trading activity (overnight included) and OHLC.
    Sometimes YM pivots don't match so you can add the ES with the same time frame and wacth ES pivots - OHLC... also
    This will aid your trading decisions.
    YM leads ES...almost always
    Draw also MAIN trend lines, diagonals. triangles, parallels etc...
    Double tops and double bottoms are best friends.
    When the market is trendless, the trading range produces always zig zag movements or a ABC (at least 3 MOVEMENTS)
    ...But as I said....just watch for a week
     
    #12     Dec 7, 2007
  3. kbehr

    kbehr

    does your 1 exp mva 89 post refer to the 89 tick chart?

    Thanks

    Ken
     
    #13     Dec 7, 2007
  4. An increase in frequency results in an increase in $vig. The best system? The one that loses the least.
     
    #14     Dec 7, 2007
  5. cd23

    cd23

    As several have said, you need to consider a few things.

    A trader can size up someone fairly quickly. Then the trader looks at what is possible for the person he sized up.

    You will not get the above two comments.

    Carter sized up spectra in a new york minute. Here is how John's wheels were spinning. He sees a guy ask a question and recognizes where he is and what problems he is carrying. He knows this guy doesn't have much financial capital either.

    Carter gets the conversation over quickly by giving the guy a specific pointed bounded and complete answer. Two things happen. Carter is out of the conversation and spectra can do a search on Carter's gap trades which is comprehensive, video taped, familiar to thousands who use it successfully. Spectra wwill not use the gap trading. He has seen it before and it is not part of his bag of tricks and never will be. Carter can tell spectra why but he will not. Spectra will never find out why from other successful users of gap trading. His partner won't tell him why either.

    You may not know Carter. And if you asked Carter the OP post, he would smile and say keep up the good work. You would be happy and Carter would put a check mark mentally on a list at a certain place that classified you in his data bank of people he came into contact with.

    Lets take a look at that item on the list that Carter has and why he checked you off at that place.

    There is a kind of person who approaches trading as you do. You are a well known type. That is explained to you above by a variety of people, some of whom are qualifed to do so. In order, here is your wakeup call in parallel with the better solution for anyone intersted in becoming a trader.

    1. You have never seen the markets. Your counter parts for this are two people. They have trading places and each of their rooms have screens and the screens are set up identically to those of their mentor. It may be that you have never actually seen the room setup of a successful trader. If you go to Trader's Expo you never get to see a trader's room set up either. Why? because Traders Expo has never had a data feed that works to date. The hotels do not have comprehensive data feeds, even. It takes more than one platform to see the markets. Carter would know that you have never seen the market and he knew by Spectra's question that he does not have a room set up himself that he uses himself. We know that independently in ET, however. You have never posted any attachments of any import.

    2. You do not trade. I see your counterparts on Tuesdays and Thursdays for about two hours (conference call); they meet Mondays , Wednesdays and Fridays for about two hours (conference or at one or the other's trading rooms; both in their homes). We all have diner once a week on the weekends. You are sitting at your screen(s) soloing a lot of the time. You are reading, looking at things that are free and have only one platform that is probably the cheapest you could find. You have no scripts or snippets of code added to the feed that you have. Take a glance at your YM journal. I did. It is a study of a person who is not trading and who is jumping all over the place and has as stated in 1. never seen the market.

    3. Read mark Brown's history and read Spectra's history. Read how long Spectra averes that it took various people to learn to trade. All of these people were unfocussed and learned as solo artists if they did learn anything. They have a major difference as they relate to you. They did not learn to trade. They learned to sell to the trading public sector known as retail and beginners. All are examples of what to not do. I am convinced you are not spamming; you have nothing to spam as yet. You are in the fog and you are rapidly making more fog inside your brain. You demonstrate mindlessness relative to trading. Your two counterparts are methodically proceeding to acquire the mental equipment to trade by trading every morning before work for two hours. They are doing repititions of one way of doing something over and over and over and over and over and over, etc......They are focussed. Why couldn't Spectra ask Parker a question? Asking how to trade or what to trade is not a question.

    4. You have no first recourse mentally when you think you are observing the markets (you have not seen them as yet). You have spent endless time conditioning yourself to react and jump all over the place every time you see an single solitary thing happen in the markets. You do the same as you grab onto the latest toy you have been made aware of. You do not search and focus; you start threads to have people give you superficial answers to isolated superficial questions on trite topics new to you. Your two counterparts are building a place to go to to get answers. thier repeating of common trading tasks over and over in concert with each other have allowed them to build a place that is an automatic first recourse to an excellent and reliable and reinforcing first recourse. you are learning to condition yourself to shoot here and there and bounce off the nearest wall in a totally new direction when the same old stimulation is before you yet once again.

    5. Deep understanding of how the markets operate is not your quest. You are a tool freak so far. Look at Mark Brown or Greenspoon. They apparently beat the markets to death instead of understand the markets. Mark shows and equity curve that, over 1200 trades makes 25,000 dollars or 20 dollars a trade;Greenspoon makes less than an ES tick per trade.net. This is shallow trading based on a shallow understanding. your counterparts are focussed on learning the markets and also doing some trades. They are bearing down on depth of understanding to have a broad and comprehensive first recourse for always understanding what is going on in the markets.

    6. The sum of the choices as time passes. More potential traders make a series of choices that lead them to an assortment of places. You do not even have a map. You do not know where you are going; so you cannot even ask for a map as yet. But you are closing door after door as you tell us the choices you have been making. The market is always present and it is very democratic. It offers the same thing to everyone. 90% or more of retail traders do not avail themselves of the offerings. You are not in charge so why behave like you are or know anything. Get a dozen bungee cords and attach them to the market and somewhere just below your eyes or chin. Learn to go where the market goes and stop having to get up off the floor because you headed out and away from the market to the tools shed. Your counter parts are glued to the market by using market data as displayed on their monitors in an arc. Market data. Your list only relates to price and I do see that you throw a last sentence that sweeps the entire stage as an after tug on the bungee cords. You are choosing your way right off the stage and into oblivion. Your counterparts have started with the direct variables, adding the indirect variables and are not using any tools except those that allow data to be displayed. They are synthesizing from the direct to the subbordinate variables. They choose to see the markets and see the markets in operation the way very successful traders do in big offices throughout the world. They are not using vendor freakout tools that you are asking about.

    In summary, you are not going to get what I am saying. Many years from now someone will explain it to you in many different ways and you will still have your present opinions and approaches and disagree with them yet one more time.

    Right now you have six major choices that you have made to retract. Each chioce that must be retracted follows from one foundational reference point. You are destroying the possibility of having your mind serve as a first recourse to be able to trade. The further you go the greater the disarray you are creating in your mind as a first recourse.

    How can you retract all these chioces you have made and written about? Others see where you are and what you are doing. You are in the same boat as a lot of people are. Some of them are charging money for their viewpoints that are like yours. Others are not in the boat you are in. They are not going to get in your boat either. Do you know what happens to the boat you are in??

    If you can jump out, then you have to either do some swimming or give a shout to another boat. Swimming only works for a while. you can't tell if another boat is going to work either. Its time to get serious and not waste anymore time fooling around.
     
    #15     Dec 7, 2007
  6. increasenow, judging by your posts, you're never going to be a trader, because you'll fail miserably at anything you try.

    The attitude you have about trading systems (which is the best, what about this and that, ho no but yesterday this system would have lost money so its crap etc etc)
    proves to me you are a amateur and you'll remain a amateur as long as you don't change mentality

    ALL system works if you trade them correctly. ALL of them. (provided you use sound money management techniques and you of course adapt stops etc to the intrument volatility)

    so stop searching and start trading.

    its actually better for you to start with something simple (like 14 and 34 period hull ema crosses for entries, find a good exit and a trailing stop system, and use the dinapoli stochastic as a entry confirmation) and go for it.

    there no BEST system for the YM on a minute or 3 minute chart

    and if you're a noob i would gladly recommend you stay away from fast time frames like 1 and 3, at this level you are head to head against floor traders.
     
    #16     Dec 7, 2007
  7. thanks...I hear the thoughts and suggestions...I will 'take the best and leave the rest'...by the way, I have learned a TON from ET...thanks for your time and efforts...regard, IncreaseNow
     
    #17     Dec 7, 2007

  8. how can you even differenciate between ''best'' and ''rest''? you dont have any trading skills.

    this is recipe for disaster.

    I know this will sound silly, but for someone in your position, spending a years with the fools at woodies CCI club will definitly help you.
     
    #18     Dec 7, 2007
  9. Welcome back, Jack Hershey. You both have a proclivity to spell "focused" with two s'. There are some other patterns, but this was the most obvious.
     
    #19     Dec 7, 2007
  10. ganesh6

    ganesh6

    I feel some of the negative comments from silvermotion are unnecessary !!!

    Learn to encourage people and teach if you can.
     
    #20     Dec 7, 2007