Dow E-mini Scalpers Journal

Discussion in 'Journals' started by Snowman75, Feb 10, 2010.

  1. The purpose of this journal is to document Dow e-mini scalps. I intend to trade 1-2 scalps in the first 1-2 hrs of the trading day. My goal is to make 5-15 points and call it quits. Other Dow e-mini (aka YM) scalpers are welcome to post. Hopefully we can all improve through each others posts.

    FYI, my trading day starts at 16:30 so if you are in NY then add 7hrs, while if in London add 2 hrs.

    Yty, I went long at 9985 and exited at 9995. Rumours of Germany helping Greece pushed the market up over 100 pts from the start of the day, so I decided to take the first buy oppty I could and call it quits for the day.
  2. Your 10 pts. exit was not a scalp. Do you intend to scalp or are you using bigger point targets? Scalping is 2 points or fewer trading the ES. Thank You
  3. If you don't trade the YM then please don't post.

    Codliver: 2pts on the ES = 20 pts on the YM. Now go away.
  4. Today's trade occured 7 min before crude inventories. The YM start to trend downwards and I shorted the first min-pullback. After 3 green bars we got a red bar and an oversold Williams R. I shorted at 9951 and took profit at 9941 for +10. It was nice that it all occured in the same minute.

    See you tommorrow
  5. my bad....please forgive my oversight concerning the market u r trading. The Ym is a practice market. Can one make money there . yes. the NQ is a much smoother market than YM. The fact is scalping is okay, just not for the real traders. If you will buy when the trend is up and sell when down all the markets are easier to trade. Thinking the YM 5 dollar deal ib better for stops is erroneous. Same stops required as ES NQ....about 100 dollars.....95% of all emini traders get whipped and leave. To be one of the few, one must take about 5 years of your life and 24/7 study it. Then one might survive.
    Do you have a system
    Do you have rules
    Do you trade trend or countertrend
    Do move your stop around during trade
    Do you exit at price target when seen or
    Do you know that on the hour trades are most meaningful
    Do you know that the worst thing is to win initially
    Do you know that your emotions are the worst enemy
    Do you know that s tock investing and trading is not going to be anything but bad experience for intraday eminis
    Do you know that all who sell their stuff are not good traders
    Do yo0u know that anything under 75% accuracy will whip you and put you out of business, intraday speaking eminis
    The previous one is real simple, the numerous losses will give you lead paws, trader's block, etc.
    The only bad thing is losing m oney,
    Breaking even is winning since it cannot be a loss.
  6. 9995 was the lastest the trade should have occurred. And that is late for my system. But, okay. Your scalp is selling very low.. Sells should be high and buys should be low. Also, the 1 minute chart is mega information. The 5 min will be much more beneficial to you. If you still wish me to butt out, I will respectfully do so.
  7. Codliver,

    If you are trading full-time and are profitable and if you have a system and trade then feel free to post a chart with the trade. Also feel free to explain your system.

    Otherwise, I am not interested in you advise concerning time frames, and everything else you posted previously. Unless you didn't notice I have been a member of this site since 2006. In addition, I've been working in the industry for over 10 yrs. However I work in a different area. Daytrading/scalping/whatever you want to call it is something I've been working on part-time for the last few years. I am no newbie so I don't want to hear it.

    What I and other readers would appreciate is posts of charts with trades. I have not seen any journals on the YM and that is why I have created this one. If you trade the YM then post, or if you did the same trade on the ES but managed a better entry due to some filter you use then please post as well. The idea is to create a discussion around the first 1-2 hr opportunities and quick trades in the YM.

    Thank you for your understanding.
  8. Don't run me off, it appears I am your only friend here . LOL......seriously, you have a wonderful time here and trading success to you.
  9. I guess I should change the Journal title to "Turn $50 to $50M" :) Then I'll get people posting :)

    Anyway, back to my favourite contract. The YM

    Today was a little tough as I started off losing 6 pts (short 71, covered at 77) but I covered very late and was super lucky to only lose 6pts. I was planning on covering on a break of the swing high before my entry but didn't. Live and learn.

    On the 2nd trade I also took some heat as I entered at 71 and price came within 1 point of my stop before reversing for +10.

    On the 3rd trade, which in retrospect I think should have been my only trade of the day, I also got lucky. I entered long 2 min too early. Got 7pts out of the trade.

    Summary: -6 +10 +7 = +11 for the day.

    Maybe its the headache I have. Hopefully, I'll do a better job tommorrow.
  10. The one minute chart always has been tough to trade. I trade the 5 min chart on all eminis. And longer.
    #10     Feb 11, 2010