What are the best technical indicators to daytrade YM?

[Reaver]

	Quote:	Soultrader
	I slap roaches with it. And sometimes calve raises.

LOL

you must have some big roaches! I'm down here in Florida, and my Boris Schlossberg book handles even the biggest ones down here!

[james_gsx]

I remember going through the stage looking for every indicator. Plus side? I learned a lot about TA. Then I realized the problem was me, now I just price and my market internals. I have volume on the chart but I never look at it, not really sure why I even have it there.

I remember signing up for some momentum trading chatroom, they had roughly 5 indicators that all had to be in confirmation at the same time in order to make a trade. I could never figure out how they made any money since I never once saw them all agree at the same time. Usually by the time most of them were in sync, it was the end of the run and the guys who used price and tape were selling them their shares.

It's amazing how trading starts off as some whole new world, then becomes so complex and you stay up all night trying to dominate. Then all of a sudden, it's so simple yet so complex - that's when you get respect for the market.

[dalby]

i also use no "classic" lagging indicators e.g. MACD, RSI, etc.

i HAVE found the TICK DELTA ELD to be VERY helpful in confirming trades, ESPECIALLY for countertrend reversals. it is a wonderful tool

mostly i watch key reference areas (market profile levels, pivots) and internals (sectors and advance decline and TICK) and make decisions based on how price reacts

i also have a few setups that use specific formulae as to VIX and/or TRIN, etc.

but none are particularly complex. i stay away from lagging indicators, which are what retail (ie losing) traders use

i pay attention to price, internals, and the big picture

[Cogniato]

sudah,

YM has a specific internal occillator, unlike any other index. Its called TIKI. ($TIKI - Tradestation ). This is specifically made for day trades as it goes from top to bottom many times every hour. Experiment with this. It will help you.

[Cogniato]

Sud,
YM is the ONLY index that has its own internal based oscillator, which makes it ideal for day trading. This oscillator is called $TIKI (NYSE) - (Tradestation), same symbol on most other datafeeds. TIKI goes from top (+26+) to bottom (-26-) every hour. Trade the turns from extreme. the DJI is easier to trade than most indexes because you can keep track of 30 stocks, and it is the only index that is price weighted vs. cap weighted. That means what you see is what you get - a turn up will probably last for a while enough for you to snag a long profit and a turn down will probably last enough to snag a short profit. Do this over and over and over again, until you are 70. I have a very, very wealthy good friend in Chicago that has been doing nothing but this since the 70's using the ticker tape at brokerage houses, with buying or selling the individual DJI stocks, since there was no YM yet. He still does it now using a computer and trading YM (Much simpler and much more cost effective), and he is now 72!!! Gives his profits to charity. It's a game. Sometimes I think that I am a fairly good trader, but I am humbled against experience like that!!

regards,
Cogniato

[Cogniato]

YM is the ONLY index that has its own internal based oscillator, which makes it ideal for day trading. This oscillator is called $TIKI (NYSE) - (Tradestation), same symbol on most other datafeeds. TIKI goes from top (+26+) to bottom (-26-) every hour. Trade the turns from extreme. the DJI is easier to trade than most indexes because you can keep track of 30 stocks, and it is the only index that is price weighted vs. cap weighted. That means what you see is what you get - a turn up will probably last for a while enough for you to snag a long profit and a turn down will probably last enough to snag a short profit. Do this over and over and over again, until you are 70. I have a very, very wealthy good friend in Chicago that has been doing nothing but this since the 70's using the ticker tape at brokerage houses, with buying or selling the individual DJI stocks, since there was no YM yet. He still does it now using a computer and trading YM (Much simpler and much more cost effective), and he is now 72!!! Gives his profits to charity. It's a game. Sometimes I think that I am a fairly good trader, but I am humbled against experience like that!!

regards,
Cogniato

[torero]

Welcome to the forum, cog. I saw you have some experience as a prop trader right? Or were you just about to get it?

[Freddie]

Anyone using ADX and Directional movement as an indicator for trading YM? Successes or failures appreciated. On the side, anyone read Charles Schaap's book ADXcellence?

thx,

Fred

[notouch]

Nice post Cogniato. I've looked at TIKI before using recommendations by Hubert Senters from TTM who did a free CBOT webinar where that was included. I didn't find trading the extremes particularly reliable but that was a while back when I was less experienced trading YM. I'll give it another look. Do you have any other tips on its use?

[notouch]

Here's what Hubert has to say about it:



Do you agree with that?

When I took the TTM free trial I never saw him use it.