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Bob,
Thanks for your feedback, but I'm not sure how that Fib-derived
pivot-point is relevant to the issue that I was too often getting
stopped on the very last tick of a 50-100tick move. We're not talking ES
or bonds here with 10-20tick ranges.
In the URL i sent, I gave some more charts of the last few weeks (a pic
is a 1000 words).
Sofar the private emailed replies I've received were that people won't
use hard-stops posted at broker's system, because of very similar
experiences (getting stops triggered to the tick).
Personally, in the case of daytrading the YM, I'd much prefer to have
hard-stops posted, in order to minimize risks in case my local system
(Internet etc) goes down.
M
Bob R wrote:
>
> 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.
>
> ------------------------------------------------------------------------
> Name: mitzianos.png
> mitzianos.png Type: PNG Image (image/png)
> Encoding: base64
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