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Old 06-27-2011, 08:29 PM   #1

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YM Daytrading

I thought I would start a thread here to keep track of my YM trades - perhaps my success and/or failures will be helpful to others. If there are any others who also trade YM, by all means, jump in. I am always open to learning new things, and looking at other's perspectives.

Some quick background, I trade the YM because I am most comfortable with it from a movement standpoint. It has always just flowed better for me than ES or NQ, and honestly, I like the range and simplicity of it. My trading style is purely support and resistance trading, though I have gone through the endless indicator rotation, and still play with them more out of boredom than anything else.

Currently waiting to see if a sort trade materializes here (yes, I trade the overnight session if setups occur). Looking for a bar close below 11971, a (hopefully) small pullback, then enter for a short.

Magenta line is the trade earlier today for 108 points.
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Old 06-27-2011, 10:53 PM   #2

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Re: YM Daytrading

Trades from last week:

Mon +91
Tues +90
Wed -22, +60
Thur +165, +25
Fri +92

Constant internal debate for me is whether to use fixed targets or not....for now, letting the market dictate, though I never like giving up ground.

Still waiting on a short setup.....if it ever materializes.
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Old 06-28-2011, 09:37 AM   #3

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Re: YM Daytrading

Short trade never materialized. Well, it did, but I had two a second short setup materialize before the first triggered, and that typically means weakness, so no trade. Looking for longs now.
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Old 06-28-2011, 09:40 AM   #4

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Re: YM Daytrading

Long 12025, stop loss 12004
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Old 06-28-2011, 10:06 AM   #5

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Re: YM Daytrading

Chart for long entry....
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Old 06-28-2011, 10:11 AM   #6

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Re: YM Daytrading

Possible strong resistance area - watching how it reacts here.
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Old 06-28-2011, 11:48 AM   #7

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Re: YM Daytrading

Could be a bullish flag setting up here - strong support would be around the 12055 area for termination of that pattern if it happens, which was resistance (briefly) earlier. Will wait and see.....still in long trade.
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Old 06-28-2011, 02:35 PM   #8

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Re: YM Daytrading

Target exit 12126 - lets see if it gets there.
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