YM newbie Q & As

Discussion in 'Index Futures' started by tomwalshco, Mar 11, 2006.

  1. trading is not easy..........but it gets easier if u perservere....if.......
     
    #21     Mar 16, 2006
  2. Cesko

    Cesko

    :D :D :D :D
     
    #22     Mar 26, 2006
  3. Cesko

    Cesko

    :D :D :D :D :D :D

    I like your posts Porgie
     
    #23     Mar 26, 2006
  4. "The only thing I watch is ES and YM. The indexes, stocks, Advancers, Decliners, Ticks, Trin, etc. ad infinitum usually follow and are useless as far as I can tell, when trading either on a very short term basis. If anyone can demonstrate otherwise I will be happy to eat my words."

    they are not useless as far as my result said.

    here is what i watch (generally)

    first, i have a background set by having looked at yearly, quarterly, weekly, and daily market profile charts. so, i know areas of general price acceptance and rejection, etc. and where hi volume nodes are building, where single prints are, etc.

    i know all the past gaps that have yet to be filled.

    i also know the ATR, whether it is expanding or contracting, and how recent volatility has been (VIX, etc.)

    those give me a background.

    but intraday i pay close attention to TICK, AD, and some key sectors and stocks.

    TRIN is useful as a background, as is putcall level.

    TICK helps me finetune my entries.

    AD is more of a basic reference, but i find TICK immensely useful, and it is part of several of my setups.

    TICK also helps me get out @ market extremes, and in at the better price points.

    also, i have found it useful to know the program buy/sell levels for ES (even tho i trade YM) and monitor the divergences between futures and cash indexes. futures tend to lead cash, and ES tends to lead YM. knowing when a buy or sell program is likely to hit can be helpful in fine tuning scalps, or exiting a position that is on the opposite side of a fresh buy/sell program.

    again, use what works for u.

    sometimes, by simplifying, one can greatly increase the skills by eliminating stuff. i would LIKE to be able to trade using solely tape, at least for focus purposes. but i haven't done that yet.
     
    #24     Mar 26, 2006
  5. Cesko

    Cesko

    Not getting it.
    Isn't it actually much smarter to be a guru than real trader??
     
    #25     Mar 26, 2006