Nailing the Open (ES, YM) in the U.S

Discussion in 'Trading' started by Adamned, Feb 23, 2007.

  1. 100 pts in the ES in a quick move???

    Ummm.... it's time to actually learn about the market you want to trade before saying something so silly.

    Spend some time at and
    #11     Feb 23, 2007
  2. asap



    i also like coffee and doughnuts.
    #12     Feb 23, 2007
  3. Adamned


    I would not rule out any day just because of a key event. However, I would definetly let the event pass and let the dust settle. I think on certain days the edge can be better than 50%. If you know what to look for in Europe indexes, treasury markets, and the globex session. Thats really why I created this thread to discuss "what to look for" to create a better than 50% probability.
    #13     Feb 23, 2007
  4. I think hes talking about the big contract .
    #14     Feb 23, 2007
  5. Adamned


    I'm pretty sure I'm right about the 100 pts in the SP future. On the weekend I will post this concept in more than one well documented source. Or if someone that trades on the CME can beat me to it it would be great. But I'm pretty sure the SP future moves 100pt to 1pt
    #15     Feb 23, 2007
  6. asap



    i think he's talking about the SP multiplier when he says "it moves 100 points", but still, he doesnt have a clue. it is funny though.
    #16     Feb 23, 2007
  7. On what globex electronic platform will you trade SP


    #17     Feb 23, 2007
  8. The parabolic price moves you are talking about only occur when key economic reports are released in that time duration you mentioned.

    Therefore, your first priority is to know when the game starts.

    Simply, why play the game on trading days when there's no players.

    Next, your going two need two strategies for trading that type of price action:

    * Breakout

    There usually is a range like price action on declining volatility prior to the economic report release.

    * Fade the Breakout

    You will be wrong on the breakout sometimes and your going to need to accept that fact very fast especially if you get a fade signal prior to your initial stop/loss protection being hit.

    Next, there's the issue of initial stop/loss management.

    Use hard stops and none of that mental stops because sometimes this type of price action moves fast and parabolic.

    Don't try to anticipate the market reaction to the economic numbers. Instead, react to the price reaction to the economic numbers.

    If your lucky, you can hold on to a winner into the Open and get further continuation.

    If your not lucky, be prepare to prevent giving back too much of those profits because the price action after the Open will make an attempt to retrace.

    If such succeeds (retrace), your going to lose all that pre-market hard work.

    Also, learn everything you possibly can about Volatility Analysis and apply such for this type of price action.

    Last of all, if your a newbie trader or new to these trading instruments...

    You shouldn't be trading this type of price action.

    #18     Feb 23, 2007
  9. MattF


    wow..100 points on the ES.

    I must have bad charts or something :D
    #19     Feb 23, 2007
  10. in the current volatility environment, there is no way you can usually get 60-80 YM points in the opening minutes

    most days it takes HOURS to move directionally that # of points
    #20     Feb 23, 2007