laptops YM Trades.

[laptop1]

.

Thanks for the insight. I like to use the 10 exp ma on a daily chart myself, heard lots of s&p floor traders use that also. That's good enough for me. Nice and simple...

Anyway long may the success continue.

buzz


Registered: Feb 2005
Posts: 248


10-05-06 01:27 AM

Im starting a journal on trading the YM .Calls will be live in a chat room. Everyday I have a plan I adopt different perspectives based on market conditions before the opening of the Dow cash. I think are we in a bull or bear cycle, how did the Dow close the previous day and will we get more follow through today. Or how did the Dow close the last 45 mins of trade.

Maybe we get a big down day or up .i,e .. if we get a big up day and the following day we get a weak open or a lower open. I will zoom in and look for strenth beofre I place a trade. I like the market to tip it's hand for me to be a buyer. The odds are in your favour for more follow through as long as we are above the 10exp ma on a daily chart. So basically I look at a few things before I decide a trade.

After taking all this in to account. I scale in, till I have my full position on and try to ride for as long as I can, But if Im wrong I will double up and even buy more on a third attempt to average buy buying price. The market will usually give you a chance to get out at even. If im wrong on the first trade of the day, I don't look to make money on it. I then start fresh...I know what you guys are going to say, all the good books say don't average down. But I tell you this. My first trade of the day is only 30% of my position so if I am wrong on the first move of the day, I got buying power to buy more...The same if im write on the move I will scale in on the way up...I am open to a wide range of signals such as the Trans Nas Tick IBM and sometimes Oil. so I can adjust my position if I see the other market breaking down. That's a little history how I trade.

But for this journal I will be showing my short term trades looking up to 10 trades a day. Looking for moves of 5 to 30 points on the YM. I will post all the results on this threads. All trades will be shown live in my chat room called Buzz YM Calls. the room will be open from around 8.00am EST time.

Buzz


........heres a post from a guy i used to follow on Elite trader.....his calls were excellent....he was da man.....he suddenly disappeared....do you know him or have you taught him? cause end of day your methodological is so similar.

continued success with your trading.....cheers mark j

ps.....take a look at my home page....i think you'll appreciate it.....

Not sure what you guys are up to?.and having a similar home page as mine confusing to say the least. However, I hope are not using it in vain, and found comfort in it?

Do I intrigue you both or what? You put a lot of energy in to the last post. Not sure if you want to spoil, or learn?

 

[rainman2]

Remember markets are driven by human behaviour much is generally irrational and remember logic don't always work

not sure what your getting at. can you explain a little further?

 

[sandpiper]

.






Not sure what you guys are up to?.and having a similar home page as mine confusing to say the least. However, I hope are not using it in vain, and found comfort in it?

Do I intrigue you both or what? You put a lot of energy in to the last post. Not sure if you want to spoil, or learn?

Learn please....

Thanks.

 

[laptop1]

All Live trades are based on the YM March Contract...But from today they are now based on YM June Contract....

I trade a futures account. However, I have based all trades at £1 a point, this makes it ease to follow and keep score for the thread.


You can’t always detect cynicism and can sometimes be difficult to detect in writing and can backfire.However from past experience I detect some derision.

 

[sandpiper]

All Live trades are based on the YM March Contract...But from today they are now based on YM June Contract....

I trade a futures account. However, I have based all trades at £1 a point, this makes it ease to follow and keep score for the thread.

May I ask what broker you use?, what vig you pay? and how many lots you do? I understand if you dont want to divulge this information but it would all help me in understanding the profile of a successfull trader.

Many thanks.

 

[laptop1]

....what past experience?...with me....when was that then? all ive asked is...do you know this guy and well done...why are you being so paranoid?...i say again well done....most newbies would not survive in such a market.....you have done very well indeed.

I recognised these patterns from old. I have trading experience in trading a volatile market when trading the Dow and s&p through 1997 to 2001, The old patterns have come back..Like you said newbies don't know what have hit them. but they will learn from it..It was nothing to make a quick 50 points off a lower open looking for a bounce back then.

To answer you question about Buzz I do know of him

May I ask what broker you use?, what vig you pay? and how many lots you do? I understand if you dont want to divulge this information but it would all help me in understanding the profile of a successfull trader.

Many thanks.

You can rent an "A Seat At The CBOT" , However you would need to do about 3 RT a day to cover Comis...I want to stay in the UK so I trade with Berkeley Futures, They have given me a very good deal. yes it more expensive RT but I don't mind that, If platform goes down or any problems they sort it out for me...One trade last year, I put in 15,000 lots in the 10 year bonds, they phoned me within seconds saying we declined you trade. I said oops thank you. Also I can phone them up to leave orders and they phone me back when its filled, so I am happy with them. I trade from 15 to 70 lots a day, based on how many trades I do.

Night all.

 

[sandpiper]

I recognised these patterns from old. I have trading experience in trading a volatile market when trading the Dow and s&p through 1997 to 2001, The old patterns have come back..Like you said newbies don't know what have hit them. but they will learn from it..It was nothing to make a quick 50 points off a lower open looking for a bounce back then.

To answer you question about Buzz I do know of him



You can rent an "A Seat At The CBOT" , However you would need to do about 3 RT a day to cover Comis...I want to stay in the UK so I trade with Berkeley Futures, They have given me a very good deal. yes it more expensive RT but I don't mind that, If platform goes down or any problems they sort it out for me...One trade last year, I put in 15,000 lots in the 10 year bonds, they phoned me within seconds saying we declined you trade. I said oops thank you. Also I can phone them up to leave orders and they phone me back when its filled, so I am happy with them. I trade from 15 to 70 lots a day, based on how many trades I do.

Night all.

Thank you very much for the detailed response. Very interesting. I take it the 15,000 lots was a mistake . Can you not rent a seat without having to move, or am I being silly. I seem to remeber sometime back someone mentioned this. If so, with your size, it would make sense wouldn't it?. I must have a look at Berkeley. Decent broker support is hard to come by.

Thanks again. Night.

 

[klw]

Unlucky on that long yesterday laptop you called the top perfectly and great call on the short.

 

[Pat494]

Just my view but it would certainly be less confusing if Mr Marcus had a thread of his own too.
Its like having two acts performing on one stage.
A stage each perhaps ?

 

[laptop1]

Long 12103

 

[laptop1]

long again at 12065............I will get out at 12084 for a breakeven trade............stop 40

 

[laptop1]

This is how doubling up works. If you're wrong on your first position, the market usually gives you a 2nd chance to get out with a small loss or a break-even trade.

With these trades you dont look to make money, just get out with little damage to your account and start again.

As you can see the trade ended up as a break-even trade

First trade long at ............12101
Second trade long at ......12065
Average price of ...............12084 which was hit for B/E

I don't advise anyone else to trade like this. I was buying more contracts when the market was still moving down with no up ticks. Doubling up only comes with experience and its Not for the Faint Hearted, but it works more often than it fails..but when it fails you will
take a knock on your account by up to 8%

Im going to wait now for an up move then a pull back to go long to be on the safe side...

 

[rainman2]

This is how doubling up works. If you're wrong on your first position, the market usually gives you a 2nd chance to get out with a small loss or a break-even trade.

With these trades you dont look to make money, just get out with little damage to your account and start again.

As you can see the trade ended up as a break-even trade

First trade long at ............12101
Second trade long at ......12065
Average price of ...............12084 which was hit for B/E

I don't advise anyone else to trade like this. I was buying more contracts when the market was still moving down with no up ticks. Doubling up only comes with experience and its Not for the Faint Hearted, but it works more often than it fails..but when it fails you will
take a knock on your account by up to 8%

Im going to wait now for an up move then a pull back to go long to be on the safe side...

laptop,

just trying to understand your strategy, with ym down some 400 points in the last 2 days, what is giving you your long signals?
Is this not the "bottom fishing" that you warn us about?
Why not short into the lows with the flow?

Honestly, I'm interested to hear your take as I trade ym myself.

 

[laptop1]

laptop,

just trying to understand your strategy, with ym down some 400 points in the last 2 days, what is giving you your long signals?
Is this not the "bottom fishing" that you warn us about?
Why not short into the lows with the flow?

Honestly, I'm interested to hear your take as I trade ym myself.

Hi

I have been shorting today, but through day trades, "cant post day trades", I placed 2 nice shorts trades today, I will post up a chart later , made my money for today.

As for the long trade I am not bottom fishing, I was looking at a basic double bottom, nothing fancy, if you look at the open, we had a nice run up of 68 points, then a sell off, to test the S/R this is why I went long, but it dint work out, so I doubled up and bought more, to get out at break-even...Looking back it was the right trade to take, we now going up.

Today was hard to get prices right, I was writing a trade at the same time looking at price it was 12111 as I posted the market was 12092, to I deleted it to give an average price of 12103, if you look at the time stamp the market was trading at this time, I want to be close to the real market as I can, but when prices are moving fast, It can be up to 10 ticks out, However most of my trades are resting orders, that can rest in the market from 15mins to 2 hours. these be are easier to follow........This is the reason I cannot post live "day trades", unless we go in to a live chat room. but I'm not sure if I want to do this.…

I post a chart later on my last trade.

 

[dbphoenix]

This is how doubling up works. If you're wrong on your first position, the market usually gives you a 2nd chance to get out with a small loss or a break-even trade.

With these trades you dont look to make money, just get out with little damage to your account and start again.

As you can see the trade ended up as a break-even trade

First trade long at ............12101
Second trade long at ......12065
Average price of ...............12084 which was hit for B/E

I don't advise anyone else to trade like this. I was buying more contracts when the market was still moving down with no up ticks. Doubling up only comes with experience and its Not for the Faint Hearted, but it works more often than it fails..but when it fails you will
take a knock on your account by up to 8%

Im going to wait now for an up move then a pull back to go long to be on the safe side...

I understand what you're going for here, but why not use a follow stop rather than just exit outright at BE? Granted your objective is not to make money, but if the market wants to give it to you, why not take it?

Db

 

[laptop1]

I understand what you're going for here, but why not use a follow stop rather than just exit outright at BE? Granted your objective is not to make money, but if the market wants to give it to you, why not take it?

Db

Hi Db

Where to double up is a judgement call, it should not be mechanical reaction.

Yes I could have gone with it, but if you look it pulled back again when it hit my B/E,..Anyway Its an old rule that I wont break. it has served me well over the years. However, it works best in Volatile conditions like today.

 

[rockseller]

Just my view but it would certainly be less confusing if Mr Marcus had a thread of his own too.
Its like having two acts performing on one stage.
A stage each perhaps ?

I agree with you pat, anybody who is willing to share his knowledge, educate or demonstrate how to do trades live and makes consistency profit should be supported and the discussion.This is the whole point of trading forums.

 

[Hook Shot]

Markets possibly in a blind alley with 3 drives up into rez (dow 12150 zone)..
If I'm wrong we get one more thrust (4th drive) then the baby bears/vultures can descend..... for a while at least... maybe longer ??

 

[laptop1]

This was one of my day trades today. Its the only chart I have showen on here thats was not a live trade...But I made good money in this trade today....Sorry I missed the leg back up today I missed the long signal and didt give it out. .Lets see if we can catch one tomorrow....

You will see here, there was divergence between the Trans and the YM.. in the Yellow Circle I have drawn. The Trans was going down but the YM was trying to go up in the Yellow area..also not shown the Nas was also confirming the weakness.


http://quote.prophet.net//applets/j...phet.net&symbol=YMM7&duration=3d&frequency=3m

http://quote.prophet.net//applets/j...phet.net&symbol=YMM7&duration=3d&frequency=3m

 

[laptop1]

Two trades today one long and one short the first one lost for-24 points, the 2nd one won for + 52 points.....Here is the update, remember the first trade lost today so the next trade was £2 a point.

Live Trades to date so far
1...£1 a point - 55 points = lose- £55.00

2..£2 a point + 107 points = profit £214.00.

3..£1 a point - 25 points = lose £25

4..£2 a point + 114 points = profit £228.00

5...£1 a point + 100 points = profit £100.00

6.. £1 a point + 110 points = profit £110

7..£1 a point + 40 points = profit £40

8..£1 a point + 78 points = profit + £78

9.. £1 a point - 8 points = loss -8

10..£2 a point + 60 points = profit £120

11..£1 a point + 60 points = profit £ 60

12..£1 a point..........Break-Even trade

12...£1 a point - 24 points = loss £24

13...£2 a point + 52 points = profit £ 104.00

14. Doubled up to £2 out at.Break-Even ..

Up £942.00 on 13 trades so far. based on £1,00 point. you know the rules if the first trade goes down add another £1 to the next so on....If one was doing 10 pound a point you be up £9420.00.......if one was trading 25 lots you be up $117.750.00 trading a futures account