I think so, but not based on those methods. During the up move I got a signal to short further pops in YM. Even made the post in chat. That was near 11120... 30 up for short positioning for 70 down. Unfortunately I had to visit my accountant mid-day and didn't participate entirely. Nice day regardless... Opening down and retrace made my day How bout you Vol? Any more 5 digit ES days? Osorico
Futuman, Porgie, and jessop just because you ignore everything else going in all the other markets does not mean it is pointless. Many traders are very successful using market correlations to trade stock indexes and everything else. Sometimes the correlations are obvious, sometimes less so. Its all big complicated jigsaw puzzles with the pieces showing up and disappearing. If it was super obvious and easy to put everything together we would all be millionaires. It takes practice and lots of study, just like everything else about trading the markets. You personally made a decision to block everything out instead of trying figuring it out, but it by no means is the "right 100% thing to do." "A typical move in U.S stocks may start like this. The U.S bond market goes up.... The dollar follows. The U.S stock market immediately rises because of increased value of U.S earnings with lower interest rates. The high grade copper, a primary industrial metal, moves up in anticipation of greater investment spending. The Japanese stock market drops because U.S assets are now becoming more attractive to foreigners. But this makes gold decline because inflation is likely to be lower with a strong dollar. With inflation down, something has to be less attractive. It is time for meats, grain, and soft commodities to recede because there will less purchasing power left for them. But if European and Japanese assets are to decline, soon they will pull down the U.S stock market. And the cycle will be ready to reverse. All this in a minute or two, 10 or 12 times day" Victor Niederhoffer
quoting stock gurus won't help you make money....they can't help you.........only you can help you.......you might pick up bits and pieces from them but it is basically not helpful, since we all must make the same mistakes as others........those who can survive the mistakes until we understand it is all about me and price will succeed.......all else is usually looking for crutches......look at end of day and ask yourself.......did i need to know much to see what was happening? what did i need to know to make money today? the big news?........guru comments....????? forum comments??? ....including porgie comments???? it is all up to you to see the entry signal that makes money.............. can't escape cruel reality..............
Porgie is right, success in trading comes from within, those looking elsewhere will never find it. "Your chances of success in any undertaking can always be measured by your belief in yourself"
The quote is just an example of how market correlations work, nothing more, nothing less. It doesnt mean I actually trade of what the quote says or look up to Neiderhoffer. I often compare markets with each other before I make trades especially if my trades will last more then one day. I don't look to anyone else to do it for me or show me how it is done.
I don't think it'll go today,most probably monday but even if it is up,something else will be down (quicker cash).Found the cd.
johnny, I must say that if anything makes u money in this business that is great..........or if u learn something useful wherever or whomever that comes from is great.........I only know that for me most information is useless after many disappointments..........it has come down to price movement and me..........i am 62 years old...........life is wonderful .........i hope yours is as well.........
Okay, so I just started trading the YM and had a simple question about liquidity. I understand that I can probably get in and out with about 10 contracts without slippage. But lets say my daily target is 10 points everyday. And I want to make a million dollars over 12 months (cause I am one greedy and unrealistic guy!) How the hell am I supposed to pull in approx 5 grand a day through the YM? Thats basically 100 contracts for my average of 10 points per day. Is it pretty much impossible to daytrade that size to reach my goals? On the other hand with the ES, I feel like you can daytrade and make over 10 million in one year if you have the skills.