I want to set up a short for the YM. What do you thnk? - futures io
futures io futures trading



I want to set up a short for the YM. What do you thnk?


Discussion in Emini and Emicro Index

Updated by jonc
      Top Posters
    1. looks_one pricestudent with 2 posts (0 thanks)
    2. looks_two Xav1029 with 2 posts (0 thanks)
    3. looks_3 Quick Summary with 1 posts (0 thanks)
    4. looks_4 addchild with 1 posts (0 thanks)
    1. trending_up 1,059 views
    2. thumb_up 0 thanks given
    3. group 5 followers
    1. forum 6 replies
    2. attach_file 1 attachments




Welcome to futures io: the largest futures trading community on the planet, with well over 100,000 members
  • Genuine reviews from real traders, not fake reviews from stealth vendors
  • Quality education from leading professional traders
  • We are a friendly, helpful, and positive community
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts
  • We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

(If you already have an account, login at the top of the page)

 
Search this Thread
 

I want to set up a short for the YM. What do you thnk?

(login for full post details)
  #1 (permalink)
Spokane Valley, WA, USA
 
Experience: Beginner
Platform: IB, Ninja Trader
Broker: IB/Kinetick
Trading: ES
 
Posts: 30 since Aug 2012
Thanks: 2 given, 5 received

I got to thinking about this idea tonight and would like some feedback. So, I am of the belief that we are in an overbought situation. I don't know if QE3 will happen but I have a firm belief that this market is going down. With that said, what about placing an order with stops to take advantage of a big downturn? I don't know if people already do this or maybe the idea sounds ludicrous. I am a newer trader and so I am subject to be wrong about 99% of the time. Still, I know this market is headed down and want to take advantage of it.

My thinking is to short the YM and set my sell entry at 11850, below resistance. Enter there and let it run to 11900? A stop at 11845? Is the YM $5 per tick/point? I think that is right.

If you guys say I'm crazy, I can take that. There must a be way though to take advantage of a market that you think is going to come down in a sudden spike. I don't see a lot of downside with a stop on place. Please tell me what you think or how you might adjust it. I think I would have to obviously keep my eye on it because of the market starts heading down gradually, I would have to adjust my entries. I am thinking of a SUDDEN down turn. I am not that familiar though with the YM and I don't know how much it would drop in a scenario like that. I would also be up for doing something with the VIX also. Do you guys have any kind of future plays like this?

Reply With Quote

Can you help answer these questions
from other members on futures io?
T​​​​​​radestation datafeed (real time and historical) to NT8
NinjaTrader
IB Bracker Order
Platforms and Indicators
GBP/ARS Pair
Traders Hideout
How to place NT8 indicator output into a grid, under each bar?
NinjaTrader
is there an easy way to obtain by code the price variation percentual
MultiCharts
 
 
(login for full post details)
  #3 (permalink)
Tampa, FL
 
Experience: Beginner
Platform: NinjaTrader, Sierra Chart
Broker: Mirus Futures/Zen-Fire
Trading: 6E, M6E, 6J
 
Xav1029's Avatar
 
Posts: 1,375 since Dec 2011
Thanks: 1,452 given, 3,366 received



pricestudent View Post
I got to thinking about this idea tonight and would like some feedback. So, I am of the belief that we are in an overbought situation. I don't know if QE3 will happen but I have a firm belief that this market is going down. With that said, what about placing an order with stops to take advantage of a big downturn? I don't know if people already do this or maybe the idea sounds ludicrous. I am a newer trader and so I am subject to be wrong about 99% of the time. Still, I know this market is headed down and want to take advantage of it.

My thinking is to short the YM and set my sell entry at 11850, below resistance. Enter there and let it run to 11900? A stop at 11845? Is the YM $5 per tick/point? I think that is right.

If you guys say I'm crazy, I can take that. There must a be way though to take advantage of a market that you think is going to come down in a sudden spike. I don't see a lot of downside with a stop on place. Please tell me what you think or how you might adjust it. I think I would have to obviously keep my eye on it because of the market starts heading down gradually, I would have to adjust my entries. I am thinking of a SUDDEN down turn. I am not that familiar though with the YM and I don't know how much it would drop in a scenario like that. I would also be up for doing something with the VIX also. Do you guys have any kind of future plays like this?

What you described is a long trade. Also the YM is at 13150 right now. Am I missing something?

Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #4 (permalink)
Bay Area California
 
Experience: None
Platform: TT T4
Broker: Phillip Capital
Trading: Futures
 
Posts: 783 since Nov 2011
Thanks: 793 given, 842 received


pricestudent View Post

Still, I know this market is headed down and want to take advantage of it. ..


As a new trader there are a few things everyone learns.....

The first is, you dont know shit. The second you say you know something, your done for.

The market is likely to take your idea, and shove it down your throat.

If you still want to sell it, I would suggest two things:

1. wait for it to start failing. Large corrections don't happen over the course of 1 or 2 days, and there will be plenty of suckers picking bottoms saying its just a pullback to keep the trade pressed for a while.

2. Use an instrument with less leverage.



edit: didn't mean to sound rude, we all started somewhere.

double edit: also keep in mind that just cause the vix is grinding the bottom of the barrel doesn't mean price is coming down when volatility lifts.

.
Reply With Quote
 
(login for full post details)
  #5 (permalink)
Tampa, FL
 
Experience: Beginner
Platform: NinjaTrader, Sierra Chart
Broker: Mirus Futures/Zen-Fire
Trading: 6E, M6E, 6J
 
Xav1029's Avatar
 
Posts: 1,375 since Dec 2011
Thanks: 1,452 given, 3,366 received

...I would look for the YM to break out of the 13100 - 13175 range to the downside. Entry would be a confirmed breakout below 13100, SL @ 13175, PT @ 12850...

but I'm not


Visit my futures io Trade Journal Reply With Quote
 
(login for full post details)
  #6 (permalink)
Spokane Valley, WA, USA
 
Experience: Beginner
Platform: IB, Ninja Trader
Broker: IB/Kinetick
Trading: ES
 
Posts: 30 since Aug 2012
Thanks: 2 given, 5 received


addchild View Post
As a new trader there are a few things everyone learns.....

The first is, you dont know shit. The second you say you know something, your done for.

The market is likely to take your idea, and shove it down your throat.

If you still want to sell it, I would suggest two things:

1. wait for it to start failing. Large corrections don't happen over the course of 1 or 2 days, and there will be plenty of suckers picking bottoms saying its just a pullback to keep the trade pressed for a while.

2. Use an instrument with less leverage.



edit: didn't mean to sound rude, we all started somewhere.

double edit: also keep in mind that just cause the vix is grinding the bottom of the barrel doesn't mean price is coming down when volatility lifts.

I stopped taking comments personally a long time ago. No offense taken whatsoever. If I don't ask if people do something, I will never know.

Reply With Quote
 
(login for full post details)
  #7 (permalink)
australia
 
Experience: Beginner
Platform: NinjaTrader
Trading: -
 
Posts: 303 since Sep 2010
Thanks: 123 given, 138 received

I personally find that its rather dangerous to take a short position using futures in the current situation unless you have deep pocket.

It had been easy money for the past few weeks just to run the stops of weak shorts on intraday trades.

If you are convinced the Dow would go down from here, why not use a short ETF or options instead of YM?

Reply With Quote


futures io Trading Community Traders Hideout Emini and Emicro Index > I want to set up a short for the YM. What do you thnk?


August 25, 2012


Upcoming Webinars and Events
     



Copyright © 2020 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts