Blue ... if i heard you right you said you were looking to scalp YM....??? You're gonna have to move really fast at times using market and limit orders, bailing out before a stop is hit, jumping in quick, scaling,etc. There is at least one free order management tool.Im just not sure of the name. Go to IB website and ck out third party software. You'll see names like Zeroline trader, Ninja trader, X trader, ButtonTrader .... Go to some of their websites and watch their intro videos. ...rj
This sounds reasonable...but. If OPEC guys get serious about cutting output - i mean real serious, then they are gonna move that price up no matter what. ME also ... 12000 has been floating around the empty space between my ears. Mostly, i'll just play on s/r, price action, turns, real quick trades. Try to clip a few ticks here and there. Also, tues morning i will probably visit Buzz in his chat room...see whats up. rj ...
yeah...i checked out buttontrader-- and watched the intro video..and bookmarked the page....and read some threads on it....i noticed you traded a couple of nymex trades of oil last week, that`s one of the reasons i wanted an account at ib, i have one at fidelity, started at scottrade....in one of the threads wealth lab was mentioned....fidelity doesn`t trade futures....but i need to see what all wealth lab has regarding strategy and if any charting for futures....i doubt it but i will look into it....it seems people are using ib.....and on top of that an order entry tool like buttontrader. ninja-trader....and also a charting service on top of that....i guess ib`s charting isn`t specialized enough to be competitive in this age of specialization...So maybe i will start out by trading fewer..times....but looking for more precise setups....until i have built up enough to spend for these extra add-ons...i.e., a charting service, and order management front-end....i might also look to trade some copper if and when those charts/markets begin to break down. But thanks for the scalping examples that gave me a great feel for what its like, and how hard it will be to be consistent at the start.
Hey Blue ... I think in July it was, i was down YM -670$ for the mo. Mercy!! I only started trading ym in early June. It wasnt until mid aug that i began to be consistant and grab a few ticks here and there. Much to learn here. Dont forget Trader28 thread i mentioned earlier. Very good. Charting. Quotetracker. Its free with ads. Otherwise about about 6 or 7 $$ for 6 mo. Many features. Lots of users on ET. You might want to ck out IBCharts... free not bad...works only with IB. ... rj
yeah rcj....i went through the 7 page thread....working on the longer one.....yeah.....i went to ib`site and started with the third party tools....working my way through the offerings....but you have been a great help directing me in the right direction.....tonight the ym has a 12 point spread, and about 250 contracts traded....is it usually like this without international news.....i will hit the sack pretty soon....does it pick up about 2:30 eastern time in the a.m....or about what time do the asian markets start trading this vehicle....nikkei open now if i remember rightly?
Yes. Usually YM trades up to about 5-600 contracts maybe until 3 or 4am. After about 4am if maybe 1800 or > contracts done one might do a couple of trades with good expectation of a few ticks. ... rj
The question about the Asians start trading YM... i dont know. I cant seem to tell. I wish some others that know more would join in here.
ok-yeah it has flatlined right now....i couldn`t find copper on ib...i thought the cbot had a copper product....have to look slower i guess....or maybe nymex,ice exchange....must be overlooking it right now....nice chatting with ya rcj....i`m finally getting sleepy