nice trade, was it T day theory ? or MRC ? Seems to me that we may not crack 700 by much in Jan due to previous resistance. http://stockcharts.com/def/servlet/SC.web?c=$INDU,uu[h,a]daclyyay[dd][pc20!c50][vc60][iUb14!La12,26,9]&pref=G Looks like a nice falling wedge pattern setting up, and those trading this pattern intraday can tell you what usually happens next.
One is an arrogant ass The other is a grouchy ass But what do the two have in common ? Neither one no longer trades YM.
volente, I still trade YM sometimes, Just traded in real time on elitetrader chat on friday before the new years I think. I Trade it when I have nothing else to trade or need to keep occupied
Tried adjusting my stops for a while and here was the result. When using 20 point stops, my success rate was right at 80%. I tried using 10 point stops over a one week period and i batted 75% on 28 rt.
So what about your famous post about giving up futures ? http://www.elitetrader.com/vb/showthread.php?s=&threadid=60747
The entry was based on pure price action EOD Fri. Also after 2 fairly large range days last week, further downside is limited. imo we're close to the bottom of the next move up, I posted as much last week.