Quick poll - will the market do something the rest of today! (Mon, 5/7)

[brownsfan019]

Well, not much going on today thus far.

What do you think?

Note - I really don't care why you vote for what you did... This is just like watching paint dry and I thought we could do something to pass the time...

[TinGull]

I vote a big helluva lotta nuthin

[brownsfan019]

Well that was an uneventful day.

[Soultrader]

lol omg. Today sucked with the indexes and even with the bonds. Anyone feeling like the indexes are not the ideal place for day traders at the moment?

I had to scalp all morning for 7-10 ticks a trade.

[cooter]

Another reason to look at the Ags instead. As I've said before, why fight for your points if you don't have to....

[notouch]

I've had a YM position for over a month now which has built up 1000 points and I've just been adding to it on pullbacks. I can't imagine trying to day trade the indices right now. It must be so frustrating to see it go up and up if you're just scalping a few points here and there. I also played GBP/USD on the short side and ZB on the days of the big economic releases. I'm loving trading more than ever right now - low stress, low risk, high reward. I'm never going back to scalping again.

[brownsfan019]

	Quote:	Soultrader
	lol omg. Today sucked with the indexes and even with the bonds. Anyone feeling like the indexes are not the ideal place for day traders at the moment? I had to scalp all morning for 7-10 ticks a trade.

James - today was just flat out terrible in my opinion. Hence the reason for the post.

Other than today, it hasn't been too bad for me. Obviously so much goes into what a trader considers good trading areas, but I'm willing to go with the flow.

[Soultrader]

The current market condition has really made me a scalper. I am liking the bond markets alot better at the moment compared to the indexes.

notouch: Great stuff there you got on the YM. I still remember the day you went long.

[notouch]

Thanks Soultrader. I'm glad I kept a record of that trade on this forum. One thing I love about this forum is that there's something here for all timeframes. I've benefitted most from the MP and VSA stuff because it suits my preference for the longer timeframes but there's plenty here for intraday traders and scalpers. I'm nervous with YM at these levels - right at the top of long term trend channels. No uptrend lasts forever and profits have to be taken eventually. It's just a question of the market finding the right value then range trading will be back.

Any plans to make a video on how you trade the bonds?

[Soultrader]

Sure, I can make one. I only use one strategy based on MP so far but works effectively. I find it important to analyze the bigger timeframes with the bonds even with intraday trading.

Never countertrend. If bonds open above value, go with the flow. If below, go with the flow.