hey, SuperVolatility, how long have you been trading the YM with real money for? Just starting at the end of January? I just started trading the YM as well, named my journal after your's lol.
Supervolatility, From the tight stops and targets you're choosing you seem to fit the psychological profile of someone who frets once the trade is on. This is common, for traders to feel all tightened up watching price move tick by tick when money is on the line. For the sake of sustainability, I suggest you ease up a little and choose a wider stop and correspondingly wider target. For example, look for a good setup, and set a 40 tick stop and 40, 60, or 80 tick target. Or continue partialling out like you're doing, but with larger target values. The rate you're going, the only person you're working for is the broker with the commissions you're generating. With your win rate, you average trade will have a hard time staying in positive territory in the long run. Stay relaxed, and let the market WORK for you, not the other way around. Setups are to time the waves, but the water propels your surfboard to shore. Good luck, RT
Nonsense. 40 ticks is $200 per contract. If trading ONE contract, he could have taken already 8 losing trades in a row without a single winning trade to get to the point he is at now. RT
Sure, and that's 6% of his current balance (or 4% or his starting balance) which for me is more than I'm willing to lose per pop.
traded for one hour, as have meetings and need to drive to work. +$70 on 6 contracts (after comm +40) What a morning...1 losing trade, one breakeven and one winning. Off course losing trades were 2 contracts...got stopped out at 10ponts...but it was something I've never seen just yet...when I was in the money just a few ticks up...out of nowhere...it dipped 18 points....all within ONE tick. good thing I had the stop in place. That stop loss put me in -100 automatically... then 2more trades. One winning trade ran 48-points and wiped out all loses and landed in the positive territory...what difference one runner makes. But of course it was one contact only...insrtead of 2. I'll post some screenshots later.
Day started out good, 2nd trade was a runner of 27 points...could go longer. Here is execution summary: By 8:45 PST I had traded 19 contracts already. Per my situation and setup it's over-trading. Did not want to fall into impulse trading. <b> I stopped</b> here is my work station. +100 on 19 trades, net $5 I stopped trading because was heading toward over-trading. i was up $225 twice and yet managed to work my way down, way down to $5 net. My Main Window Station: Second Monitor: These are the rules I am following 1) I find overall trend, up or down. Stand (try to) aside if market going sideways. 2) Check for Scapler Buy/Sell signal to fire-off 3) Make sure BB Squeeze in general agreemtn with the trend: bullish/bearish 4) If TRIN (2nd monitor) is below 1.0 it's a Bullish trend and if TICK above 0. and in Positive Territory it's a Bullish sentiment 5) Futher - must see Advancers over Decliners for Bullish trend. 6) Overall - $INDU chart trend must be bullish (ie making HH, HL) 7) Long term 4-minute YM charge just be either making HH, HL - reversing for Bullish trend. 8) Keep an eye on MACD for confirmation and filter COMPLETE OPPSITE set of rules above FOR SHORTS. Indcator Use: -Obviously you don't take every single Scapler Buy and Sell, you don't buy/sell every single BB Squeeze. You must confirm and filter the signals based on variables listed above. So far TRIN, TICK have proved to be good market internals data to follow. If main chart is charging Higher and yet TRIN is making newer high..while $INDU in bearish mode - it must be a fake break-out or suckers rally. If TRIN is DEEP below 0 and TICK trading majority of hte time above 0 - overall market sentiment is BULLISh.. Complete opposite for BEARish trend. Problems: I am still not able to fully utilize PivotPoints and Fibonachi retracements, can't read them. Not able to read tape to pick-out trend. This is it for now, I have attention disorder so can't write the whole thing in one sitting.
I am starting to shop for a new DELL laptop, as my 2G Mem supposedly is not handling running all the custom indicators for TS and Infinity on the same machine. 2/21/2008 Started out good, 1 contact rode it 22 points Long, next short 2 contracts rode them 25 points Was up 225. Then usual TreadeStation hung afte entered order - lost $50 on stop out. Down to 175 2 impulse trades on fading down to $125 Total 11 contracts so far. Time 7:39 AM PST, YM @ 12435 TS hung 3 times, it's costing me money. last one at 7:41 AM PST by the time it's restarted Time 7:55 AM PST. YM broke down from Dilay PPR1: 12451, further down PrevDialy Close: 12434, further down Daily Mid R1 S1: 12405, touch down the Daily Pivot @ 12377 and now reversing, time 8:04 AM.