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FYI see attached chart:
using 24 hr YM this is a frequent target
10348 = HighD(1) + 0.382*(HighD(1)-LowD(1))
another frequent target on a retrace is the current day's developing
midpoint
(highD(0)+lowD(0))/2 red line on the chart
as well as the 1/3 and 2/3 developing levels of the current day thin yellow
lines.
----- Original Message -----
From: "MT" <mtzianos@xxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, May 04, 2005 4:08 PM
Subject: YM/IB - stop gunning
> Hi all,
>
> I'd appreciate some feedback and maybe we could compare notes with
> others who might have similar experience.
>
> I'm trading YM (emini-Dow $5/tick) via InteractiveBrokers.com (IB).
>
> I do few (0-3) trades per day in YM, in an "intraday swing" style. My
> hard stops are 10-25ticks, depending on price action and my view on the
> trade (and I sometimes I'll exit before if my view has changed). Going
> for profit targets of 30-60 ticks or more (especially with the wider
> ranges of recent weeks).
>
> A lot of my trades are getting stopped TO THE VERY HIGH/LOW PRICE of the
> local swing extreme (i.e. the highest or lowest price for the next
> hour(s) or day).
>
> Assuming some kind of normal distribution of "noise" prices around those
> price-ranges I initiate trades, I would expect a lot less stop-outs "to
> the very tick" of the local extreme.
>
> E.g. today was stopped out at 10354 around 10:39:06
>
> I've posted more charts at
> http://www.elitetrader.com/vb/showthread.php?s=&postid=742394#post742394
>
> Who can "see" YM stops and gun for them?
> Am I missing something?
> Am I particularly unlucky?
> Am I being watched?
>
> Thanks for any feedback.
>
> M.
Attachment:
mitzianos.png
Description: PNG image
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