Hey lilduckling, congratulations, at least you're giving a go at it already. I was going to start trading YM this month but decided to hold till January. I don't want to mess up my taxes for this year Good luck with the indicators and happy trading
Hmm.... taxes, been thinking about that also.... would be nice to just have straight YM without any equities. Maybe will just watch YM for the rest of the year... i mean i didnt even see a good trade today... and it presented itself at 2pm. I will be a leapard .... lie and wait for the prey to present itself. I mean the prey has to walk up to my mouth, open it...and crawl in for me to take a trade. Will be operating at full speed in January for sure!
coolweb, you said in another thread that todays sell off was pretty obvious by looking at the dailies. What do you see in the dailies that told you today was pretty much going to be a sell off? Regarding the YM.....Seems we've been on a channel since the high on the 28th from last month... but with the last doji before today, it would seem we could've had some more room up before hitting the upper channel...maybe another small up day. Only other thing i can think of is we kinda triggered a sell on the STOCH & MACD on the 60m. With the 15m MACD going below 0 at around 11:15.... about the time the big sell off came. Was just wondering if you were looking at something else.....thanks.
What a non-trending mkt today. Looks like YM is just on a sideways consolidation on the 15m chart from that large sell off from Tuesday. ADX is at 10.26....so not even attempting any trades. TRIN Stoch*. suggests a further drop to test the bottom of this range @ 10820 and possibly down to 10780 area late this afternoon or Friday. Will sit on hands until a clearer picture develops. (TRIN Stoch = an indicater that i put together ... it is not and does not work like a Stoch)
Hmmmmm this technique looks promising. A few hours after i made this call the YM dipped to 10821 @ 3:22, bounced up, then dipped down to 10821 again @ 3:43, bounced up at fell right through that area at 4PM. Friday at 5AM, it dipped down to 10765 and rebounded up right after. I will work on this indicator some more to get it more accurate... I'll keep you all posted with my findings. New Year almost here!.....
And thats it for 2005 folks. Cant wait to see what 06 brings. I will be posting on this journal more often. Happy New Year to all my friends on ET.