feb2865

YM is climbing up slowly apparently looking for 371 - as you see on the charts, the market had a long push up on that price on7/28 - 371 would be something to watch .

YM bounces off 317 as expected .....

YM bouncing off @306 - I pass on the trade but I was expecting some sort of reaction - Still early to tell - I could test 317 before takes off....I'll wait 'n see if it comes to the 306-317 bracket.

AUD -JPY - went short after the big down push @92.42 - I got in kinda late got a fill @91.32(see the label market in blue L:12,500) light load just 12,500 that's an equivalent (close) to 1 buck per pip...later on I have a small scratch of -8.00 same pair - no biggie..

Hello guys. Just to share my trades on currencies and YM. I am old shcool - just a couple of lines and some candy colors on currencies for entrainment purposes only heheheehehe Pais I trade - EUR-USD, AUD-JPY and to some extend - USD-JPY As already shows in the charts(The L1, L2 labels shows limits - target filled) , some trades in YM - so far in the green zone. Right now the Dow is hovering @317 The market is pose for new price discovery(maybe) on the short side. Let's see what happens.

If you have 2k minimum - go tradestation.

Newguy Are you a scalper or you're just drive-testing the platform?? what version of ninja are you using??

Ninja trader with zenfire is a superb combination, I had it for a while. The reason I left is because I don't like ninja's pivot points About YM, be careful with slippage and make sure you use sensible stops based on current market volatility.

Wellcome back Walter.. We definitely missed you

A great market to trade. Here's a a simple straddle I use to trade As watching some charts lately still works. Bracket the last 1/2 hour before 10:30 AM EST go in the direction of the market after the bracket is broken close the trade at the close of the bar (30 minutes) just notice how voulme increase at the next bar

WOW this must be a joke rigth??? we're in candid camera!!! oh boy

This is one of the most famous and well-known soap operas in the whole trading world Stops vs. no stops Scaling out vs. all in Indicators vs. naked trading the list goes on. I have seen a lot of traders trying a lot of mechanical stuff, bot's, black boxes, ect none has win consistenly on the markets. But, I am willing to learn, you know, it's wise to have an open mind about everything. If anybody has some mechanical stuff that win consistenly, with average losses, 5 years in a row (a whole cycle according to experts) I am willing to take a look at it.

I agree 100% with no visual aid it becomes a distraction There's a lot of body language in the pit.

The ES was an analogy I don't trade ES, sorry if I mislead you. Once I have an entry, I normally don't do anything. Either I win or lose. I have everything pre-programmed on my platform AKA stop-loss/trailng stops and profit target. As I have a trailng stop in place at a resonable distance form the market, I am not worried 'cause it will decrease my exposure systematically. You must have a pre-concieved calculation on your Risk/Reward before placing a trade. If the range is too wide for your risk tolerance, consider not to enter. Stop loss are comprised on two things 1) Logical placement - Away form any pressure points AKA pivots,Fibs/ S/R etc. 2) Risk Tolrenace - not necesarily a percentage ratio of your bankroll but you much in your head are you willing to risk?. from that pont, you must let the trailing stop reduce your exposure on the market. There will be no escape from be stopped out ocasionally, not even with trailing stops. There's no free lunch my friend. You know that. Just consider yourself lucky 'cause your initial risk was reduced, unfortunately the market went the other way. You need to account for current range on the market you're trading. Maybe 2 point ES has become part of the "noise" and you migth have to lower your gear and shoot for a wider stop-loss. The overall range on indices has changed since late July I beleive. It's a fairly normall event by this time of the year as the summer is ending, newely refresh traders are coming back to the market and most fund managers are allocating funds into the bond market, hence pushing the market into new ranges and levels. A fairly easy way to measure range: Just backdate your charts at the begining of august. If you're trading on 5 minutes, move up to a high timeframe like 30 minutes and establish an average high/low and midpoint( some people call the median) I beleive you can do it around the first week of August. Don't have to backdate the whole period just that week. Then move forward to the past week and compare. That way you will have an feel for what's going on and adjust your trades accordingly. I don't know how many contracts you're trading, just have in mind ES is $12:50 a tick. My humble advice: It's good to lower the amount of contracts(hence lower your leverage) you're trading and shoot for wider ranges/stop-loss so you can be in tune with the market. Another thing you migth consider: Everybody is screaming (Bull) lately. A weak dollar, Gold/Crude oil are going thru the roof, comodities are soaring, ect. I have a feeling that wider ranges are waiting for us ahead. Peace

I am not a fan of scaling out but this is what I've been using. Lets assume you have a 1:1 risk ratio I set a trail stop at the same distance of my profit target. Example 2 ES points profit target/ 2 es points stop loss Then I trail my stop-loss at 2 point (8 ticks ) better than entry price. so everytime the market moves in my favor, the trails stop will reduce my exposure 1 tick less That way, I am not too close to the market yet I give the trade time and space to develop. It will make sense when you try on the market. Just that if you try this on demo remember that fills are not the same as real time. You can also try ATR X 3 and keep your stop-loss on that disctance but personally sometimes stop-loss are way too wide. I don't like ATR that much. Hope it helps God Bless You

Thanks Torero I guess (scrtachin' my head ) hahahahaha Gasoil is a very lucrative business with little competition especially in europe It's like heating oil I beleive it's more dense. Could be processed into diesel. I know a little about oil stuff. Never claim to be an expert but I've been around. I have friends in low places (Nymex) hahahahaha cheers Raul

This question is kinda funny with all respect of course If you're not subscirbed to Platts, who in this world is going to give you that information?? and why C.I.F if you can get a better deal with your carrier using F.O.B??? I mean, for a monthly flow of 50 g's I will have cut deal with a carrier already I even can put out an auction for that matter. If you really have that flow amount, let me know I could help you out. cheers Raul

I would like to add that traders here threat each other with respect and we all have as a goal to keep the integrity of the site. Thanks

O lord I thougth I have seen everything!!!! I would like to add to your post respectufully the following comment. I use to teach trading long time ago. My goal as a teacher was to encourage and motivate students to develop their own fingerprints on the markets. In my expereince that's necessary for everyone who aspire to be in this business for the long run. How do you deal or better to say, stay away from clowns like this: Knowledge on the markets. There's no free lunch. You must do your homework and stick to your views. I've been using basically the same startegies since I started . I have an open mind about everything outhere but I always comeback to my old style of trading. Trading is complex and hard. It's a caothic enviroment. Collective thinking. So many people are lured by the fact that nowadays you can be in front of a screen making money. That's wrong. People are condtioned to walk on solid ground. I mean, you sit in your car every morning and you're expecting to turn the car , pull it off the driveway and go somewhere rigth? But when the car breaks down in the middle of the freeway , we feel like somebody is moving the ground beneath us rigth? I tell you what, trading is a moving ground. We need to get use to it. Of course is good to buy books, ect but ultimately you're the one pushing the buy/sell butom. Thanks

Great Post

Reav There's a product called "Calm Forte" they sell it at walgreens or any health food store. It's 100% natural and will help you fall asleep like anything I've ever seen. I have an early stage of lynphoma and if I don't have it I can't sleep. Brown, I won't trade grains intraday at least coffee. But is good to trade it with a couple contracts and trailing stops. That way you can sleep at nigth

I know grains are not a popular subject but anyway I would like to shake things up a little to see if interest develops Coffee has been in an uptrend since a couple of weeks ago. I am still long since 121.65 when the bulls made that area the new support. I still see some resistance developing around 130.00 area but there's a pretty good chance for a pullback and thrust up to 140.00 area Let's see what happens

Hello guys Thanks Torero and walter I will read your post definitely, walter. I went long yesterday kinda swing /position trade in mind Just basic analysis. I had a triangle formed on the daily chart and I went long at the first pullback. Actually my entry was somehow late. The trade is going well. I agree with you walter, this pair seems very stable and good to trade at tokio session. At least of futures as I don't trade on the spot forex.

Hello Almost every trader I know use fib retracements. I have never been such a fan of fibs until recent years. I use them in a non-conventional way. See, everyone buy/sell on the pullback, preferably 50% or 61.8%. I like to have a resting order above (1-2 ticks/pips) the 1% (some charts have this labeled at the 0 line) line when the pullback is for real. In my observation, once the market pullback, especially form these areas, is like a spring throwing a stone up in the air. It reaches the 1% line frequently. Notice how momentum increases, of course more often than not. There's always exceptions. But there’s some considerations to be made 1) How far/close are 100% line form any pivot/midpoint or S/R level 2) How far/close are the retracement AKA 50% or 61.8% line from the 1% line 3) Whether your stop-loss is around your comfort zone/risk tolerance Back to #1 ALWAYS be attentive at key levels when you use this strategy. Use them either as a profit target or if you trade gets too close to it, better let it go and rely on key levels to trade instead. Confluence between fibs and Key levels are sweet. I usually set stop loss close of 78% area. I ALWAYS trail my stops away from the market at a reasonable distance level, that way I don’t get stopped out frequently and gives the trade room to go. This strategy comes very handy especially on some particular days when Pivots and S/R lines seems out of range. Of course you can always correlate other indices looking for pressure points. But sometimes it becomes kinda hasty. As to how to set stop-loss / all depends on your risk tolerance and daily target. Be careful with Fibonacci stuff. Its too discretionary. That’s why I don’t like to trade off pullbacks. The first charts are from Fed day 9/18/2007 Morning trade. Notice that the distance between entry and exit was 18 ticks. In my time we use to say that the trade has “meat”. The second charts are from the announcement itself. Notice the beautiful pullback to the 50% line This time I decided to use the pivot line and fade the trade instead. I normally use 5 minutes charts and 30 minutes for market direction In announcements, I get down to 2 min charts to get a quicker entry. I don’t day trade anymore or at least as I use to be. I made an exception yesterday. It was good. Remember that the holy grail doesn’t exist. Use always discretion with any strategy and always have more options under your sleeve. Cheers

Hey...It's a miracle!!!!!! I Havent' forget about you minetoo. Still working on that