What kind of stop-loss are you using trading the YM? How much wiggle room do you allow in your trades; 8 points? How many points are you averaging per trade on the YM? Thanks, -FastTrader
I am a ES / NQ trader, and recently gave ym a try. Tested it with 5 daily round-trips, and noticed that it's a great thin scalping instrument. Getting 5 - 6 pts wasn't a hard thing when you trade it as a lagger from the ES. If you keep stops relatively tight enough, the winning ratio can be quite high. (I had a 6:1, with a stop/target at 5 pts) If you are an experienced e-mini trader, you should be fine. Try scalping it to start. You will LOVE the fast fills.
I tried it earlier this week, and you're right....getting 6-8 points is very easy. I actually paper'd it on Monday and made over 100 points. Went in with real$ after that, and averaged about 10 points a trade. I just don't know exactly where to place my stops. -FastTrader
I have been trading it with a max 20 pt intial stp, or lower if a good pivot available. I look for 30 pts on 1st contract, or again a pivot for more or less, and then trail a 2nd and/or 3rd. Works well for catching larger moves which usually can get at least one per day. I haven't sat down and figured an average, but I would say it's at least been 100pts/day.
It's part of my display, but I'm not trading it yet. Are you more interested in scalping or trend-trading?
10 pt stop is good enough for me. Targets can vary, depending on the setup, but always more than +10. Good trading day for the YM.
tango, 100 pts/day sounds about right. phoenix, depends on the charts. If I see a clear trend on the 10` chart, I like to ride the 5 & 10` trend which is usually good for 50 points or so (if not more). I've also scalped counter-trends on the 1` chart. At times, these counter-trends are actually pretty strong, but usually a scalp is good for 8-12 points. I'm currently using a 6-8 pt trailing stop. -FastTrader
Maximum stop is 15 points, less if possible. I try to take a partial profit at 20+ pts. and stick with the last contract as long as possible. I also add-on as I get additional entry signals within a trend.... taking partials and trailing a larger position. Ave. points per day this month have been 300+ per 2 lot. This is on 45 tick chart.