carltonp

Hello Traders, Can someone tell me if we're now trading the June Contract for YM? Cheers Carlton

Thanks for responding. This is so true.

I would love to know the answer to that question myself......

MM, thanks for responding. To be honest I don't the answer to your first question. I was hoping that other traders will shed some light on that. I havent' tried other intervals.....

Hello Traders, I wonder if someone could shed some light on the following scenario with comments. I trade the mini dow. My executions and exits occur on the 5min interval. My main strategy is to wait until I see a WRB (wide range bar) develop and if there is a pause for say 15 seconds or more before the current interval is about to change then prepare to enter on a pull back. Let me give you an example. Lets say I'm witnessing a bullish WRB and the time is 11:54:40, (the interval will change in 20 seconds and the new interval will be 11:55), however just before the end of the current interval the price has paused at say 11833 for 18 seconds. At the begining of the new interval I will be looking to enter a pullback (a short trade in this instance) at or around 11833. My thoughts are that right up until almost the very end of the current interval there is a huge amount of bullish activity, but just before end of the interval the price pauses - no one will know for sure why the price has suddenly paused but it has. I have found that there appear to be fairly high probability that after the pause the price will pullback in the opposite direction or simply gap up / down in the opposite direction in the new interval. I would love to hear your comments. Cheers Carlton

Hey Mike, do you work for IB? (just joking). When I called their support team they virtually said what you mentioned. However, you're explanation made it really clear for my simple brain to comprehend. As you use IB and TWS, can you tell me if its possible to place a 'buy stop limit order' as suggested by SteveH? Cheers

SteveH, That is a fantastic entry method - brilliant. I'm going to try and emulate it and see if it works for me. Excellent Cheers

Gents, Thanks for responding. I'm putting a call through to IB now, will let you know what they have to say. Cheers

The timezone is New York time ....

Hi Tam, You may recall that I've been using Excel to develop a system based on trading at levels where price pauses. The attached is typical of the type of wining/losing trades I have been achieving using the system. I trade two hours a day - 14:00 - 16:00. I wonder if I could ask you (or any trader willing to comment) to take a look at the trade log for 12/13/11 and let me know if that is typical of what traders would expect to be earning per day. Without being condescending, Blue represents profits, Red represents losses. Cheers

I thought I read that YM close at 15:15pm for maintenance and then re-opened at 15:30pm. Is that incorrect? Cheers

Tams, am I correct in the above statement? Also, if YM closes at 15:15, how is it that I have traded YM after that time? Cheers

Once again, thanks Tams. You have been truly helpful with my journey.....

Thanks ever-so-much Tams, that explains it for me. Cheers mate...