Hey Lil... one suggestion since I am scalper would be that concentrate on smaller stops. Never in my life would I ever let a trade go 20 pts against me. My biggest loser last friday was 6 pts, while the biggest winner was 26 pts. Concentrate a bit more on entries... Entries are the key, and cut losers really short. With ATR of YM around 80 pts, thats 1/4 th of ATR you're letting it go against you with a 20 pt stop. Only a viewpoint from a scalper.
Well.... i guess what my plan was was to go for high probability setups with 1:1 r/r ratios. I actually had a pretty high batting average until 2 weeks ago. Im afraid to get stopped out alot if i tighten my stops. But..... im still feeling the whole thing out..... like i said in the begining.... all these rules will be modified into a permanent trading plan.... and im sure i will tighten my stops, once i get a better feel for the YM. But i hear what you're saying...... i wanna scalp the YM also.... so im sure you're right. Cant scalp with 20pt stops.
ripley is very correct intraday trading futures is akin to scalping an oil stock when bigger gains can be found buy and hold while in the futures, buy and hold would be whipped out while bigger gains can be found in scalping. Just like you wouldn't buy and hold microsoft for big gains. Liquidity comes with a PRICE as I have posted 4 months ago after switching out from futures -> stocks (One of my best moves) This knowledge will come to you after you trade and trade and trade, you will get it sooner or later. I'm sure you will get it.
what if i bought 100 shares intel @ 21 also buying a 2007 Jan 20.00 protective put ..in other words i bought ...$145.00 insurance premium........plus $7.00 commission.....test the trade.......cw.........it WILL run but it can't hide..........COOLWEB....IT CAN'T HIDE.......DO U THINK INTC WILL STAY AT 20..............GET REAL....IT CAN'T HAPPEN .........CHECK THE CHART...........BIG DROP OVER NOTHING............ .ym is too simple .....system eats it alive.....I need a new challenge.........let's make some money......NEVER INVEST MONEY BASED ON ANYTHING ON FORUMS UNLESS YOU ARE HAPPY TO LOSE YOUR HAPPY ASSETS................AMD IS BOTHERSOME BUT NOT INTEL...........CHECK THE DETAILS.......DON'T INVEST........JUST FOR GRINS.........PORGIE BORED.........BUT PORGIE THINKS PORGIE MIGHT BE RIGHT SOMETIMES.........HIGH ON LIFE............TRUE OR FALSE?
OK , -------- 100 shares intel @ 21 also buying a 2007 Jan 20.00 protective put ..in other words i bought ...$145.00 insurance premium........plus $7.00 commission ----------- So you bought 100 shares @ 21 for $2,100 then you bought a $150 insurance. which is almost 7% of what you paid. If your stock goes up $2 which is almost 10% , almost impossible for INTC You will gross $200 and net $30 Then you will make back your insurance that you will never get back. Why even bother to trade /buy insurance when you don't know whats going on? Since it will never go up 10%, and your intc probably won't fall another 10% you are sitting there like ass fiddling around. Hedging doesn't make anybody money, it only means you are unsure and looking for some protection. Might as well just donate the $142 to charity and deposit your $2k in a 3% INGDIRECT SAVINGS ACCOUNT and net $60 . You need to be 100% sure to make money.
ym IS 100 PERCENT......INTC GOES DOWN GUESS WHAT? DO U K NOW WHAT A PUT IS? I LEARNED MY LESSONS THERE ALSO...IF U WANT TO GAMBLE DON'T PLAY THE GAME.......BUYING PUTS ON A STOCK TH AT JUST TANKED 30% LAST FEWMONTHS WON'T GO OR DOWN 10% IN A YEAR? WHO CARES.....I WILL KEEP THE STOCK......IF IT TANKS AGAIN I MAKE MONEY COOLWEB IT IS NOT ROCKET SCIENCE.........IT IS TOO SIMPLE........IT WORKS BUT NOT ON GE AT 35 FOR 3 YEARS..OR DOES IT...2 YEARS CHEAP INSURANCE...............BUT GUSESS WHAT ........2 YR LEAPS FOR INSURANCE? THIS IS MY FIRST MONEY MAKING EXPERIENCE SO MAYBE I AM WRONG...........I USUALLY AM WRONG....NO, I AM ALWAYS WRONG..........OR? GREED WON'T ALLOW US TO BUY INSURANCE THAT WORKS.........IF WE ARE GREEDY.........WE ARE NOT ARE WE CW........PORGIE IS WRONG BUT WHO EVER LIVED LONG ENOUGH TO GET EXCITED ABOUT BEING WRONG........IT AIN'T WORTH IT........USE YOUR EYES/EARS......THEY WILL LEAD YOU HOME.......BUY STOCKS U DON'T MIND KEEPING........yYM IS THE GOLDMINE ES NQ BEAUTIFUL AS WELL.........MY LESSONS ARE WELL LEARNED.....NOT TAKEN FROM FORUMS.......EXCEPT DB'S.
I'm personally a bit suprised that you feel that INTC has zero probability of going above $22.80 or so per share between now and January 2007, particularly considering that it spent nearly all of 2005 trading at or above that level. Yes, I understand the fundamentals, given that AMD is grabbing marketshare from Intel, but I still think you are way off. As for the original poster, INTC is looking pretty weak right now, would seem to make more sense to short the stock and/or buy puts at this point, rather than going long and hedging with puts.
not seeing the downside..........intc has more history up from here than down from here................INTC will be averaged up as she goes........if it goes down a few more I will bu y some 2008 jan leaps let's say $20 call leaps cheap if it goes down a few more and maybe even a few more shares to hold...with puts leaps.......I never shorted stocks and know nothing about shorting........could be the way to go..........not smart enough there.........yet........
I only trust porgie with porgie's account..........he takes only ex tremely low risk positions since learning how to lose and then how not to lose.........
This is the YM thread, if you want to talk about stocks, start a new thread please. I be in the chat room Monday Porgie if you want to trade against me or all you so called pros. do come in, I see you there.I love showing the so called pros up buzz