cant see why though...apart from Fed bailing out more dosh to 4 banks...
Kevin21
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meh 
Anyway, i think i've just got to the point where i'm actually completely happy with my system.... :cheesy: It gives you 2-4 trades on a flat quite day that are pretty high probabilty in my view. Obviously the more volatile it gets, the more trades. On the emini's you walk with 10pts per trade, on the spmib you walk with 40pts per trade.
The master plan is now to take 20ticks out of the mini dow, mini nasdaq and mini s&p500 and 80ticks out of the mini spmib. 140pts a day is my target
Anyway, i think i've just got to the point where i'm actually completely happy with my system.... :cheesy: It gives you 2-4 trades on a flat quite day that are pretty high probabilty in my view. Obviously the more volatile it gets, the more trades. On the emini's you walk with 10pts per trade, on the spmib you walk with 40pts per trade.
The master plan is now to take 20ticks out of the mini dow, mini nasdaq and mini s&p500 and 80ticks out of the mini spmib. 140pts a day is my target
lurkerlurker
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Bad luck Lurker,
I wonder if the company I am with (you are familiar with them
Keep the withdrawals to an absolute minimum, and make sure you don't make too much money in a short period of time, and you'll stay under the radar. If you win too much or start taking out profits....
your dedication and hard work worries me slightly, how many books have you read that have helped with your trading? I wonder if it is all just noise and marketing. How many indicators have you tested that have proved to be duds. I've still got all this to do
It worries me slightly too - I'll be no further forward three years from now. I guess I am having a bad day. I still have issues defining the trend, trading with the trend, discipline, etc. "Come into my Trading Room" by Elder Alexander is one of the books I actually find useful - "Trading in the Zone" by Mark Douglas is reasonably good too, if you are patient.
Would anyone care to post their YM day trading systems / rules here?
uptrend: higher highs higher lows
downtrend: lower highs lower lows
simple, just follow it :cheesy: .....dont trade an opinion.......i know that
uptrend: higher highs higher lows
downtrend: lower highs lower lows
Try it in the real world of trading, on the third higher high or lower low you will get stopped out most of the time.
lurkerlurker
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Exactly!
Kevin21
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If thats the case then you're screwed regardless of the system you use. If you can't sort it out then maybe you should think about another career. Just calling it how i see it...
shortorlong
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yeah you just had a bad day, never give up mate, I wont be trading again till next week as I am off on some family business. no not a mafia business. just a birthday in Knutsford. 7 hours drive from here.
good trading all
firewalker99
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Actually, if you can identify a series of higher highs and higher lows in real time, things can be extraordinarly simply to profit from.
Take this example. This is a chart from August 6 of the YM. Not that long ago. Sure, not every day is as straightforward as this one, but then again no one said you have to trade everyday. If you stick around and have the patience to wait for the best signals, you'll get rewarded more than enough. For instance, this day you could've taken out 300 points with one single trade.
First of all there was huge volume the previous day near the close around 13200-13225 (1). Price made a slight bounce there. The next day it's important to see what kind of buying pressure (demand) there is present at that level. It's very easy to see that there is some definite buying going on that pushes prices well up (2). Now, one could either buy here and put his stops below this hammer or one could wait and see what happens. Incidentally we have a second possibility for entry here (3) so even if you weren't playing it that agressive you still could've gotten in the move before it started.
Suppose you were late and wanted more confirmation than (4) showed decent volume on the upmove. Buying here with a stop below the previous retracement is the third and last good opportunity for getting in early.
What happens next is a series of higher highs (HrH) and higher lows (HrL). If you placed your stops sensibly you would move them up each time to below the previous swing low and have no reason to exit until the EOD. All pretty straightforward and all pretty textbook material to be honest. Obviously, it doesn't always turn out to be a complete trending day. But you can exit if you see that price fails to make a higher high, or you could wait to get your stops taken out, or you could wait until price hits resistance. Which in this case it does from the PDH. But taking the ride from 13200 to 13500 would've gained you 300 points. Not a bad trade.
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firewalker99
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To be blatant lurker, I've been following your progress (and occasionally lack of ~) and I am falling of my chair reading your question
. Many people have posted their system and rules around here. I have given you a complete set of rules that only needed little adjusting and is basically the foundation for my system. It's something others would charge a lot of money for. I have posted many trades for live. So have others. We are literally spelling out the signals for you. Ofcourse you don't feel confident trading it, because you haven't made it yourself.
But unless you want to start from scratch building something (which a lot of us did), you're going to have to adopt something and make it suit your own style or you'll never be satisfied in your trading. I have yet to see any consistency in the reasons why you put on a trade. Let's face it. You haven't written down a fixed set of rules, you haven't put in the hours of screentime (until our eyes bleed) that many others have and you are unwilling to comprehend that you will suffer from time to time from a losing streak/day. The only holy grail is between your ears.
brutusdog
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To be blatant lurker, I've been following your progress (and occasionally lack of ~) and I am falling of my chair reading your question
Many people have posted their system and rules around here. I have given you a complete set of rules that only needed little adjusting and is basically the foundation for my system. It's something others would charge a lot of money for. I have posted many trades for live. So have others. We are literally spelling out the signals for you. Ofcourse you don't feel confident trading it, because you haven't made it yourself.
But unless you want to start from scratch building something (which a lot of us did), you're going to have to adopt something and make it suit your own style or you'll never be satisfied in your trading. I have yet to see any consistency in the reasons why you put on a trade. Let's face it. You haven't written down a fixed set of rules, you haven't put in the hours of screentime (until our eyes bleed) that many others have and you are unwilling to comprehend that you will suffer from time to time from a losing streak/day. The only holy grail is between your ears.
second that fw. big time.
all i would add is that you can't get to somewhere you dont know without having a map. there is at least 4 proven money making systems on t2w alone. probably more. not to mention other sites. fw and dinos have both given very useable day trading strats for the dow. the point is how you apply them and if they suit you as a person or if you have the disapline to follow them through....
good to see you back, hope the holiday was good... looking forward to dinos returning as well.
catracho
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chart for Bulls & Bears
looks like we are approaching key levels on upside..a break above puts BULLS in charge, otherwise start of another/next leg down? Keep eye on FTSE also testing the underside of broken uptrend line from March 2003..
short on todays gap up..stops just above KEY resistance
looks like we are approaching key levels on upside..a break above puts BULLS in charge, otherwise start of another/next leg down? Keep eye on FTSE also testing the underside of broken uptrend line from March 2003..
short on todays gap up..stops just above KEY resistance
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Time is Running Out
We should get our 5th upbar (5x higher daily highs and lows) in US if futs are anything to go by..... This tells me the next decent move is inevitable.... but everyone knows that .... :cheesy:
Everything comes to him who waits ....... barjon 2007
Ps sincerest apologies to the toasted bears out there .....
Edit: We have now rallied 800pts based on pre market pricing so the next pbk should be 150-200ts min
We should get our 5th upbar (5x higher daily highs and lows) in US if futs are anything to go by..... This tells me the next decent move is inevitable.... but everyone knows that .... :cheesy:
Everything comes to him who waits ....... barjon 2007
Ps sincerest apologies to the toasted bears out there .....
Edit: We have now rallied 800pts based on pre market pricing so the next pbk should be 150-200ts min
Last edited:
bottomleyp
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Hi HS
Excuse my ignorance, is it going up or down by how many points ?
Excuse my ignorance, is it going up or down by how many points ?
Kevin21
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bottomleyp
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No !
I am a novice, still learning
I am a novice, still learning
