No-Bust-Range is 250 ticks (from ~ 10480). You may want to complain within 5 minutes (!) if you had trades below ~ 10230. Then CBOT will decide what will happen with those trades, see www.cbot.com www.cbot.com/cbot/pub/page/0,3181,1174,00.html
ECBOT should not let YM move more than 100 pts in any sub one minute period. The market should have locked limit down at 10350 for a short time and would have bounced back immediately.
Charlie Dow - Once again welcome to the board. I would have to disagree with you on the trend it was clearly short term UP (3 month) and there was a lot of structure and internal support under this market to favor a continuation higher. I believe this sell off was panic on the part of funds to liquidate and TRY and lock in some profits end of quarter. That's it that's all imo. Technically the market was flat to slight up bias by the book. Futurestrader- Sorry to hear about the loss that's got to sting. I hope you can get it back but be patient and do it in little chunks is the best way after this kind of thing.
this spike was not exclusive to the ym (CBOT) .. the DIA had a similar spike with huge volume .. must have been a large seller in the DIA / YM ... or it could possibly have been a trading error ..
Thanks for your kind words. I lost that money in the YM, but it was only the majority of what I was up in the DAX. The YM is a supplement to my meat'n'potatoes DAX trade. It is not difficult with Wed and Thurs movement to make that money back quickly for me. I appreciate your concern.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=50333&perpage=6&pagenumber=4 I called the top in the S&P to within .50 points 4 days before it happened and called the 24 point pullback to within 2.5 points so far. I don't use Fibs, Gann or Elliott crap either. Think about this. A trader has the ability to designate his own trends based on his own created timeframes. Sort of like creating a game and making the rules, he always wins. His trends are perfect to his style and timeframes of trading. He can't lose trading in HIS environment. I will not elaborate so do not ask. Figure it out for yourself.
Charlie that's wonderful so start a journal thread and wow us all. btw, I won't ask nor will I need to figure it out, my trading results are doing just fine thanks I have no need for anything else.
That is a nice offer but I have seen how people here are treated when they post journals. Besides, I trade for a living and it's a waste of time justifying what I do to anyone. That only person I want to impress is me and I am in awe already.
Excellent good for you. Just try and remeber ET is filled with lots of traders. Some young, some old, some good, some bad and a lot just learning that's what the forum is all about. So try and be helpful or you will be just stroking your own ego and nobody likes a braggard.