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My 2 cents.
> Who can "see" YM stops and gun for them?
No one, but if you are setting stops using discretion...as it sounds like
you are...what happens is others are doing it too, and people tend to think
alike, so there are lots of stops around the same place, and those wanting
to reverse use that.
> Am I missing something?
yes, probably.
> Am I particularly unlucky?
there is no such thing as luck. You appear lucky when you align yourself
with the laws that govern mkts, or life for that matter.
> Am I being watched?
I better leave that one alone. :-)
Chris
----- Original Message -----
From: "MT" <mtzianos@xxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Wednesday, May 04, 2005 7:08 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.
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