YM Traders

Discussion in 'Index Futures' started by volente_00, Aug 23, 2005.

  1. Mr.B

    Mr.B

    Thanks alot for all the feedback. I will test out a 10 tick stop on the sim and we will see how that goes . One thing I feel I am good at is following my stops and my rules. The one thing I need to work on is when to take my profits. I will often allow 10 tick winners to retrace to my point of entry and then get stooped at break even.
     
    #5141     May 2, 2006
  2. Mr B:
    Unless you're scalping, 10 point profit targets on the YM are a little tight. Volente's "Rule of 20" along with porgie's "20 point batch moves" can shed some light on the YM's intraday movement. The YM has a 100 point average daily range. You may want to look for entries that would put you in line to capture a larger chunk of this range.
    MiniDowTrader
     
    #5142     May 2, 2006
  3. Mr.B

    Mr.B

    10 ticks is only my stop loss. I am looking to pick up atleast 20 ticks from each trade. Can you explain the "rule of 20" and "20 point batch morves." I have tryed doing a search and have not been able to find anything that explains them.

    Thanks,

    B.
     
    #5143     May 2, 2006
  4. Mr. B-
    Do a search for "20 point batches". This will point you to both references.
    MDT
     
    #5144     May 2, 2006
  5. 100 point average range in a 24 hour period maybe. Since the cash markets opened @8:30est the range in YM today has been 45 points. I have seen periods last summer that lasted for months were the daily range 8:30-4:00est in ym has been 20-30 points.

    Now if you trade 24 hours a day or have a partner then you chances of success are far greater.
     
    #5145     May 2, 2006
  6. Half of the gains today in the Dow mini contract occurred from midnight till 5:00am this morning on a little over 2000 contracts.

    Expect this pattern to continue thru out the summer, by the time you wake up here in the US you will be left to scratch and claw to make 20 points, factor in your commission and any overhead costs and the mental pressure and you will soon come to the same conclusion I came to last summer. Sit back and wait for the corrections.
     
    #5146     May 2, 2006
  7. Wow. Who peed in your cheerios?
    I see a 60 point move from the 10:30 reversal zone.
     
    #5147     May 2, 2006
  8. Huh??

    YMM6 RTH (regular trading hours) only
    as of approx 3:50 EST

    LOD = 11390 @9:52 EST
    HOD = 11459 @1:40 EST

    Bottomline, less than 15pts were "kept" by the midnite rally crew.
     
    #5148     May 2, 2006


  9. I guess you had a great day today, I did domestic work in the yard. So how many points did you pull out of that 60 point range?
     
    #5149     May 2, 2006
  10. sorry, but all above is greek to me............all i see every day is beautiful stuff...........unbelievably tradable.........pictures i see make me wonder what others see at same time..........there is nothing to be gained by the million bits of information.........get 2 or 3 and trade them while you try to flush the rest of million bits of information from your minds........in other words keep it simple, never try to guess what the next bar brings, ..........i f u do, you are flying by seat of pants.........crash coming soon........unless u trade based on lots of realtime testing if u r intraday ym es nq.......
     
    #5150     May 2, 2006