Hey Boys & Girls: I like this trade by the way. Nothing wrong with picking up 42 YM points. As regards the concept of MRC, I think however that some of you have (as I have mentioned before) "no clue" There is a reason why price moves, and if you take the time to look deep enough, you will generally find it. Attributing the movement to an "MRC" entity is just pathetic. Now frankly, I would just as soon let you hosers swing in the breeze, but just for kicks, lets "talk" about what really happens. First you have a number of market participants who make a living trading what is called the "intermarkets". Trading the intermarkets, you simply follow the open of each new market around the world using the anticipated open as your "leverage point". Professionals do this with every fungible market at every exchange in the world. They do it successfully because they develop their edge in this particular market, and they develop that edge by making use of one important piece of information. They know, that on average the open will tend to be closer to the high or low of the day than the close. They know it because unlike the rocket scientists on this thread, they took the time to do the statistical study. There is another element of intramarket trading called "public time". Professionals overseas refer to public time as the first half hour when "dumb money" comes in to get their agenda going. That agenda usually includes taking profits at every possible price point. Knowing this, professionals who trade intermarkets wait for the open just so they can fade you jokers and build positions into the close. I have attached a chart of the ES out to 4:30 EST (90 minutes past the DAX open). Those of you with the ability to think abstractly can see the effect of the open on the Globex. IF you have a DAX feed, take a moment to look at the correlation between the DAX open and the Globex bars starting at 00:00. Like I said, nothing wrong with picking up 42 YM points But wouldnt it have been nice to have done the homework and had the guts to hold on for more than 80? Good luck in the markets hosers. Jesus (or buddha or somebody) must be looking after you folks. Steve.
Volente, Happy New Year to You. Come to the ET Chat room where full of ES traders, I am 1 of them. In fact the room "FX daytrading" is for YM traders. Come and have fun.
I think this should be called paper traders anonymous.........where you find the addicted paper traders .....it is all just for grins....take all u see here and use it wisely......file 13.......forum is fizzling...... YM is best opportunity yet it whips all comers so far.......
Since the early futures just dropped 20 points, I am curious, did you sell when they were up 70+ or are you still holding or did you use some kind of trailing stop loss to lock in profits?
Vol, what is your motiv for changing to ES from YM? Do you see ES offering more possibilities or what? The daily range is nearly the same for both.
You may be right, but that is a fairly broad assumption and may not apply to everyone. For example, I designed my method for ES and it does not work nearly as well for any of the other indices. I occasionally look longingly at the other indexes when they have greater volatility than ES. But I know that I am more likely to have a losing trade with the other indexes using my particular method, so I snap out of it. Volatility is a beautiful thing, but I prefer reliability. And ES offers sufficient volatility often enough to make it worth my while. I would love to have a method that is as reliable on the other indexes, but I do not. I understand that a robust method "should" work across a number of markets. But my guess is that the more markets your method can profitably trade, the less it can maximize the reward/risk relationship for any one of them, all else being equal. Are you suggesting that your alleged >90% accuracy method can be applied to a number of indices?
Yes it can.....looks the same on any charts tha t move up or down........... sorry if the truth is funny ....but the market doesn't care andneither do I.......I only am here to encourage others to work for it....it is possible........I agree that some great systems are not robust.......and who cares great is great........points are points.........robust is only better if you need it to be.......I could give it all but I am not as stupid as most think....only here to encourage.....was asking vol to exit with money las tnight or consider moving b/e last night wrong?