I want to set up a short for the YM. What do you thnk? - Emini Index Futures Trading | futures io social day trading
futures io futures trading


I want to set up a short for the YM. What do you thnk?
Updated: Views / Replies:684 / 6
Created: by pricestudent Attachments:1

Welcome to futures io.

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

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

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

Reply
 
Thread Tools Search this Thread
 

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

  #1 (permalink)
Elite Member
Spokane Valley, WA, USA
 
Futures Experience: Beginner
Platform: IB, Ninja Trader
Broker/Data: IB/Kinetick
Favorite Futures: ES
 
Posts: 30 since Aug 2012
Thanks: 2 given, 5 received

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

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
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Tampa, FL
 
Futures Experience: Beginner
Platform: NinjaTrader, Sierra Chart
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: 6E, M6E, 6J
 
Xav1029's Avatar
 
Posts: 1,374 since Dec 2011
Thanks: 1,452 given, 3,354 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?

Reply With Quote
 
  #4 (permalink)
Elite Member
Bay Area California
 
Futures Experience: None
Platform: TT T4
Favorite Futures: Futures
 
Posts: 719 since Nov 2011
Thanks: 635 given, 740 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.

"If I agreed with you, we'd both be wrong."

Last edited by addchild; August 22nd, 2012 at 08:52 PM.
Reply With Quote
 
  #5 (permalink)
Elite Member
Tampa, FL
 
Futures Experience: Beginner
Platform: NinjaTrader, Sierra Chart
Broker/Data: Mirus Futures/Zen-Fire
Favorite Futures: 6E, M6E, 6J
 
Xav1029's Avatar
 
Posts: 1,374 since Dec 2011
Thanks: 1,452 given, 3,354 received

If I was a long term trader....

...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

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote
 
  #6 (permalink)
Elite Member
Spokane Valley, WA, USA
 
Futures Experience: Beginner
Platform: IB, Ninja Trader
Broker/Data: IB/Kinetick
Favorite Futures: 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
 
  #7 (permalink)
Elite Member
australia
 
Futures Experience: Beginner
Platform: NinjaTrader
Favorite Futures: -
 
Posts: 300 since Sep 2010
Thanks: 123 given, 137 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

Reply



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

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
YM VSA sell Griff1 MTPredictor 0 May 16th, 2012 06:59 AM
BarChart data on the YM stephenszpak Reviews of Brokers and Data Feeds 14 April 26th, 2012 08:10 PM
YM Session Template tderrick Emini Index Futures Trading 2 February 16th, 2012 07:54 AM
trader7757 and the YM and ES trader7757 Elite Trading Journals 8 July 16th, 2011 07:43 PM
YM or TF tderrick Emini Index Futures Trading 8 October 2nd, 2010 02:58 PM


All times are GMT -4. The time now is 05:13 AM.

Copyright © 2017 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
Page generated 2017-12-18 in 0.13 seconds with 20 queries on phoenix via your IP 23.22.136.56