all i'm saying is what i've said from day 1. take everything on here with a grain of salt and thats been proven this last 24 hrs
All I am saying is those who know my methodology for fading the current move at 10:30 made out like bandits today. Just last week Sr posted he was bearish at 350 and shorting at will and then we never hear again of that short as ym moved to 400+. As I told you guys last week during the 180+ points that were gained on trades posted in realtime, I am toying with some new strategies that involve less size, more risk, longer timeframes and higher profits. I can sit here all day long and scalp 3, 5, 10 points at a time intraday at least 10 times a day on a bad day. If you want to assume I was stopped out for a 20 points loss then think what you want, but you had also better remember what I do around 10:30 every single day.
I love that book, especially the part about smacking the spoos and making 100k+ at a time. It shows what is possible if you find your edge in the game. Marty has balls and that is what it takes to make it in trading. There are some hidden meanings such as you should keep your life in balance, as he gets so obsessed with trading he even does it on family vacations and how he lets trading take his health down.
to lose very much anytime is totally uncalled for...but to wait 6 hrs and then lose anything is time for the woodshed......with the big strap across the butt....don't do it...........risk/reward.........keep the stop as close as u can without asking for it......breakeven is a win, unless u see mucho dinero and don't guarantee yourself some of it...if YM gives u 20 pts and u lose, shame on you .............once you find the safe stop points, use them wisely..........if u crawfish the stop, u r asking for it...........if u don't recognize safe stops u need more time staring at the charts...........stops scaremost that is why they use the huge stops........hence, the huge trap and deep holes to crawl out of with emotions rattled....all this stuff about winning more than losing is all that counts is ridiculously wrong headed.............u should strive to capture positive points every time, and the few that foil u once u r ready to trade should be a 10 pt or less loss.....every time......all the time.........if u r intraday trading the YM.........all experience trading other instruments are for the most part worthless...riddled with anticipation usually...mind bias......pick a market and trade that market only....until the market is yours..........NEVER BE AWARE OF NEWS AND U R BETTER OFF.........9 O'CLOCK RANGE EACH DAY DOES WHAT?.........SHORT CHARTS DO WHAAT? NO VOLUME, NO STOCH, NO MACD, %R, BOLLINGERS, FIBONACCI, NO CANDLES, NO PARABOLIC, NO COUNTERTREND, NO GUESSWORK DISCRETIONARY STUFF, NO SUPPORT/RESISTANCE TRADING BECAUSE UR SYSTEM SHOULD SHOW U THE MOVE AWAY FROM IT, AS U KNOW MORE OFTEN THAN NOT, IT BLOWS THE CRAP OUT IT...., NO RELATIVE STRENGTH INDEX, AND ON IT GOES......THE LITTLE TICK PAINTS THE BAR.....TRADE THE BARS......NOT THE NEWS, OR YOUR MIND......OR GUT.....UP=BUY........DOWN=SELL...SIDEWAYS =BOTH
Hey Porgie, I agree with you. Lots of indicators are bunk, but I tend to use a few myself. In your odd little way you keep on pounding away on how stops are important and I agree with that too. btw, I kind of figured out what your system is, don't worry I won't give it away. I don't think something directional like that has worked very well on the YM recently. You must be trading it on something else. ES maybe?
In this choppy range in YM good luck on the longer time frames, not much follow thru in either direction. The past two weeks have given the most range all year, and alot of the gains and losses come in the night sessions. Brokers are doing well though raking in the commissions.
it looks like we may have triple bottomed on the daily, but i agree we are in consolidations until we break one side or the other, maybe we head up to the top of the consolidation for breakout attempts now
volente your 10429 high was wrong again. all the brash trading on here has proven to me and all on here this game of futures is random and theONLY THING THAT SPERATES WINNING FROM LOSING IS STOPS PERIOD. obviosuly if volente was kilkling it he wouldn't be experimententing. one never tinkers with something that works. i thin over the past few months a wrong impression about how tough this game is has been given