Hey all you YM traders with a 5 and 10 pts stops - have been getting stopped out over the last month? Here's a 5 min chart of YM on 3-13 with 12-20 pt moves in only 5 minutes. What's your strategy to profit from these moves?
============================ Good question.T-freak Mainly stay out of green-red slop-chop like your first 14 point slop-chop countertrend candle;maybe different for bid ask scalpers. The fewer times do trade a countertrend, want a lot/much more trends pointing down than first 14 point candle you marked. With most all the 5 minute & larger candlechart trend$ are up in YM; many more countertrends will be stopped out, no matter what size stops, compared to trends.
i lost my shorts on ur short.......not really........my system said up up and away times a few cars........up the cars not the points.......when u see them.........punch the money button......
My above reply was for the chart he posted of yesterday. For today, fading the 10:30 trade would have meant going long as the direction before 10:30 was heading down. Rule of 20 said to buy at 11080 on the pullback. The 50% retracemnt from 11060 to 11100 was also 11080. And if you trade T day theory, then there were 4 strong reason to be long.