Support becomes resistance and vice versa...
9990, 10059, 10086, 10111, 10144, 10173, 10225 Resistance on the YM Emini Futures
9949, 9899, 9863, 9829, 9787, 9674 Supports
Trade smart and trade well!
YM: 9863 - 9829 highest odds long FTD. 10058 and 10086 excellent spots to consider short. 10144 highest odds short FTU.
Monday, August 30, 2010
TraderSmarts Numbers for the YM Emini Futures - Monday August 30, 2010
Support becomes resistance and vice versa...
10171, 10225, 10279, 10319*, 10388, 10451 Resistance on the YM Emini Futures
10144, 10106, 10049*, 10014, 9959, 9863, 9829 Supports
Trade smart and trade well!
YM: 10106 aggressive long. 10049 highest odds long FTD. 10225 aggressive short. 10319 highest odds short FTU.
10171, 10225, 10279, 10319*, 10388, 10451 Resistance on the YM Emini Futures
10144, 10106, 10049*, 10014, 9959, 9863, 9829 Supports
Trade smart and trade well!
YM: 10106 aggressive long. 10049 highest odds long FTD. 10225 aggressive short. 10319 highest odds short FTU.
Thursday, August 26, 2010
TraderSmarts Numbers for the YM Emini Futures - Friday August 27, 2010
Support becomes resistance and vice versa...
10008, 10040, 10078, 10151, 10191, 10225, 10243, 10279 Resistance on the YM Emini Futures
9863*, 9829*, 9793, 9727 Supports
Trade smart and trade well!
YM: 9863 - 9829 highest odds long FTD. 10008 aggressive short. 10040 and 10078 excellent spot to consider shorts. 10191 highest odds short FTU.
10008, 10040, 10078, 10151, 10191, 10225, 10243, 10279 Resistance on the YM Emini Futures
9863*, 9829*, 9793, 9727 Supports
Trade smart and trade well!
YM: 9863 - 9829 highest odds long FTD. 10008 aggressive short. 10040 and 10078 excellent spot to consider shorts. 10191 highest odds short FTU.
Wednesday, August 25, 2010
TraderSmarts Numbers for the YM Emni Futures - Thursday August 26, 2010
Support becomes resistance and vice versa...
10086, 10118, 10151, 10191, 10225, 10243, 10279, 10327 Resistance on the YM Emini Futures
10023, 9968, 9863, 9829 Supports
Trade smart and trade well!
YM: Viewing 10023 and 9968 as areas to consider long. 10151, 10191 and 10225 areas to consider short.
10086, 10118, 10151, 10191, 10225, 10243, 10279, 10327 Resistance on the YM Emini Futures
10023, 9968, 9863, 9829 Supports
Trade smart and trade well!
YM: Viewing 10023 and 9968 as areas to consider long. 10151, 10191 and 10225 areas to consider short.
Tuesday, August 24, 2010
TraderSmarts Numbers for the YM Emini Futures - Wednesday August 25, 2010
Support becomes resistance and vice versa...
10059, 10086, 10122, 10149, 10191, 10225, 10243, 10279 Resistance on the YM Emini futures
10013, 9962, 9863, 9829 Supports
Trade smart and trade well!
YM: 10086 line in the sand for Wednesday. 9829 highest odds long FTD. 10225 highest odds short FTU. 10086 line in the sand aggressive short.
10059, 10086, 10122, 10149, 10191, 10225, 10243, 10279 Resistance on the YM Emini futures
10013, 9962, 9863, 9829 Supports
Trade smart and trade well!
YM: 10086 line in the sand for Wednesday. 9829 highest odds long FTD. 10225 highest odds short FTU. 10086 line in the sand aggressive short.
TraderSmarts Numbers for the YM Emini Futures - Tuesday August 24, 2010
Support becomes resistance and vice versa...
10149, 10179, 10191*, 10225, 10243, 10279, 10327, 10353* Resistance on the YM Emini Futures
10059*, 10023, 9939, 9863 Supports
Trade smart and trade well!
YM: 10059 highest odds long FTD. 10353 highest odds short FTU. 10191 aggressive short.
Sunday, August 22, 2010
TraderSmarts Numbers for the YM Emini Futures - Monday August 24, 2010
Support becomes resistance and vice versa...
10225, 10243, 10279, 10327, 10353*, 10396, 10411, 10451 Resistance on the YM Emini Futures
10181, 10141, 10104, 10059*, 10023 Supports
Trade smart and trade well!
YM: 10059 highest odds long FTD. 10353 highest odds short FTU.
10225, 10243, 10279, 10327, 10353*, 10396, 10411, 10451 Resistance on the YM Emini Futures
10181, 10141, 10104, 10059*, 10023 Supports
Trade smart and trade well!
YM: 10059 highest odds long FTD. 10353 highest odds short FTU.
Thursday, August 19, 2010
TraderSmarts Numbers for the YM Emini Futures - Friday August 20, 2010
Support becomes resistance and vice versa...
10243, (10297, 10327, 10353)*, 10396, 10411, 10451 Resistance on the YM Emini Futures
10225, 10163, 10141, 10104, (10059, 10023)* Supports
Trade smart and trade well!
YM: Try not to go into the day with a bias but thinking down. Viewing 10297 - 10353 as best short zone FTU. Will be surprised if the big DT target at 10163 is not hit Friday at a minimum. The 1069 DT target in ES was hit on Thursday. If short objective should be holding price under 10243 and then 10225 to get a flush. 10059 highest odds long FTD. 10353 highest odds short FTU.
TraderSmarts Numbers for the YM Emini Futures - Thursday August 19, 2010
Support becomes resistance and vice versa...
10396, (10451, 10477, 10509)*, 10590 Resistance on the YM Emini Futures
10317, 10277, 10163, 10141, (10059, 10023)* Supports
Trade smart and trade well!
YM: 10163 is the DT target on 60 min. 10451 - 10508 area as best/highest odd short. 10396 aggressive early short. 10059 and 10023 highest odds long FTD. 10317, 10277 earlier spots to look for long.
10396, (10451, 10477, 10509)*, 10590 Resistance on the YM Emini Futures
10317, 10277, 10163, 10141, (10059, 10023)* Supports
Trade smart and trade well!
YM: 10163 is the DT target on 60 min. 10451 - 10508 area as best/highest odd short. 10396 aggressive early short. 10059 and 10023 highest odds long FTD. 10317, 10277 earlier spots to look for long.
Wednesday, August 18, 2010
Tuesday, August 17, 2010
TraderSmarts Numbers for the YM Emini Futures - Wednesday August 18, 2010
Support becomes resistance and vice versa...
10373, (10437, 10451, 10477, 10508)*, 10590 Resistance on the YM Emini Futures
10317, 10277, 10227, 10141, (10059, 10023)* Supports
Trade smart and trade well!
YM: Still viewing the 10451 - 10508 area as best/highest odd short. Hopefully this time the $TRIN will not be sending contrarian signals. 10059 and 10023 highest odds long FTD. 10317 and 10277 earlier spots to look for long.
Monday, August 16, 2010
TraderSmarts Numbers for the YM Emini Futures - Tuesday August 17, 2010
Support becomes resistance and vice versa...
10297, (10394 -10382), (10451, 10477, 10508)*, 10590 Resistance on the YM Emini Futures
10255, 10227, 10141, (10059, 10023)*
Trade smart and trade well!
YM: Still viewing the 10451 - 10508 area as best/highest odd short. 10394 - 10382 a good early short FTU. 10059 and 10023 highest odds long FTD.
Sunday, August 15, 2010
TraderSmarts Numbers for the YM Emini Futures - Monday August 16, 2010
Support becomes resistance and vice versa...
10310, 10382, (10451, 10477, 10508)*, 10590 Resistance on the YM Emini Futures
10255, 10211, 10141, (10059, 10023)* Supports
Trade smart and trade well!
YM: Still viewing the 10451 - 10508 area as best/highest odd short. 10382 a good early short FTU. 10059 and 10023 highest odds long FTD.
Thursday, August 12, 2010
TraderSmarts Numbers for the YM Emini Futures - Friday August 13, 2010
Friday the 13th...
Support becomes resistance and vice versa...
10323, 10382, 10451*, 10477*, 10508*, 10590 Resistance on the YM Emini Futures
10270, 10255, 10211, 10141*, 10059*, 10023* Supports
Trade smart and trade well!
YM: Viewing the 10451 - 10508 area as best/highest odd short. 10141 high odds long FTD. 10059 high odds long FTD and 10023 highest odds long FTD. Depending on the tape and my current position (if I am short into it or not) I may pair into a long from 10059 to 10023.
Support becomes resistance and vice versa...
10323, 10382, 10451*, 10477*, 10508*, 10590 Resistance on the YM Emini Futures
10270, 10255, 10211, 10141*, 10059*, 10023* Supports
Trade smart and trade well!
YM: Viewing the 10451 - 10508 area as best/highest odd short. 10141 high odds long FTD. 10059 high odds long FTD and 10023 highest odds long FTD. Depending on the tape and my current position (if I am short into it or not) I may pair into a long from 10059 to 10023.
Wednesday, August 11, 2010
TraderSmarts Numbers for the YM Emini Futures - Thursday August 12, 2010
Support becomes resistance and vice versa...
10333, 10382, 10451, 10477, 10508, 10590 Resistance on the YM Emini Futures
10255, 10141, 10059, 10023, 9863 Supports
Trade smart and trade well!
1090.75 was hit. If we can't buoy and hold back over 1090.75 then viewing 1061.25 as the next line in the sand. ES.
YM: 10451 high odds short FTU. 10477 also high odds short FTU. 10508 highest odds short FTU. 10141 high odds long FTD. 10059 high odds long FTD and 10023 highest odds long FTD. Depending on the tape and my current position (if I am short into it or not) I may pair into a long from 10059 to 10023.
10333, 10382, 10451, 10477, 10508, 10590 Resistance on the YM Emini Futures
10255, 10141, 10059, 10023, 9863 Supports
Trade smart and trade well!
1090.75 was hit. If we can't buoy and hold back over 1090.75 then viewing 1061.25 as the next line in the sand. ES.
YM: 10451 high odds short FTU. 10477 also high odds short FTU. 10508 highest odds short FTU. 10141 high odds long FTD. 10059 high odds long FTD and 10023 highest odds long FTD. Depending on the tape and my current position (if I am short into it or not) I may pair into a long from 10059 to 10023.
Tuesday, August 10, 2010
TraderSmarts Numbers for the YM Emini Futures - Wednesday August 11, 2010
Support becomes resistance and vice versa...
10596, 10639, 10699, 10747, 10794*, 10833* Resistance on the YM Emini Futures
10536, 10451, 10403, 10362, 10333, 10255 Supports
Trade smart and trade well!
Okay 7 days of consolidation now. I tweeted a $TRIN chart today that would be a good idea to take a look at:
http://tradersmarts.blogspot.com/2010/08/what-i-am-seeing-on-trin.html
On ES we still have 1155 big target with 1135.25 resistance along the way. A test of 1190.75 would still make sense to me before going much over 1135.25.
YM: 10794 and 10833 highest odds short FTU. 10362 highest odds long FTD.
10596, 10639, 10699, 10747, 10794*, 10833* Resistance on the YM Emini Futures
10536, 10451, 10403, 10362, 10333, 10255 Supports
Trade smart and trade well!
Okay 7 days of consolidation now. I tweeted a $TRIN chart today that would be a good idea to take a look at:
http://tradersmarts.blogspot.com/2010/08/what-i-am-seeing-on-trin.html
On ES we still have 1155 big target with 1135.25 resistance along the way. A test of 1190.75 would still make sense to me before going much over 1135.25.
YM: 10794 and 10833 highest odds short FTU. 10362 highest odds long FTD.
Monday, August 9, 2010
TraderSmarts Numbers for the YM Emini Futrures - Tuesday August 10, 2010
Support becomes resistance and vice versa...
10663, 10699, 10747, 10794*, 10833* Resistance on the YM Emini Futures
10612, 10570, 10536, 10461, 10403, 10362*, 10333, 10255 Supports
Trade smart and trade well!
SIX days of consolidation now. Expect a big move soon. Can FOMC today be the catalyst? We have 1155 big target with 1135.25 resistance along the way. A test of 1190.75 would make sense to me before going much over 1135.25.
Ideally at this point we get a move to 1135.25 - 1138.25 extreme that can be faded for a nice move back lower. We shall see - be prepared to trade whatever is presented.
YM: 10794 and 10833 highest odds short FTU. 10362 highest odds long FTD.
10663, 10699, 10747, 10794*, 10833* Resistance on the YM Emini Futures
10612, 10570, 10536, 10461, 10403, 10362*, 10333, 10255 Supports
Trade smart and trade well!
SIX days of consolidation now. Expect a big move soon. Can FOMC today be the catalyst? We have 1155 big target with 1135.25 resistance along the way. A test of 1190.75 would make sense to me before going much over 1135.25.
Ideally at this point we get a move to 1135.25 - 1138.25 extreme that can be faded for a nice move back lower. We shall see - be prepared to trade whatever is presented.
YM: 10794 and 10833 highest odds short FTU. 10362 highest odds long FTD.
Sunday, August 8, 2010
TraderSmarts Numbers for the YM Emini Futures - Monday August 9, 2010
Support becomes resistance and vice versa...
10623, 10699, 10747, 10794*, 10833* Resistance on the YM Emini Futures
10570, 10536, 10461, 10403, 10376* 10333, 10255 Supports
Trade smart and trade well!
YM: 10794 and 10833 highest odds short FTU. 10376 highest odds long FTD.
10623, 10699, 10747, 10794*, 10833* Resistance on the YM Emini Futures
10570, 10536, 10461, 10403, 10376* 10333, 10255 Supports
Trade smart and trade well!
YM: 10794 and 10833 highest odds short FTU. 10376 highest odds long FTD.
Thursday, August 5, 2010
TraderSmarts Numbers for the YM Emini Futures - Friday August 6, 2010
Support becomes resistance and vice versa...
10699, 10794, 10833 Resistance on the YM Emini Futures
10632, 10613, 10532, 10461*, 10403, 10376, 10333, 10255 Supports
Trade smart and trade well!
Not much has changed. 4 days of consolidation ahead of NFP Friday. Is there going to be an anomaly in the number? Like I tweeted today 1155 is big upside target but 1135 is initial target. The floor HERE (last 4 days range lows) feels VERY weak but NFP fear seems to be keeping it up. If we pop on number 1135 seems logical area to fade for reversion back to the mean. If we dump hang on because I can see us all the way back to 1090.75. (Numbers for the ES)
YM: 10699 very decent spot to look for shorts FTU. 10794 highest odds short FTU. 10532 good spot to look for long FTD. 10461 highest odds long FTD.
10699, 10794, 10833 Resistance on the YM Emini Futures
10632, 10613, 10532, 10461*, 10403, 10376, 10333, 10255 Supports
Trade smart and trade well!
Not much has changed. 4 days of consolidation ahead of NFP Friday. Is there going to be an anomaly in the number? Like I tweeted today 1155 is big upside target but 1135 is initial target. The floor HERE (last 4 days range lows) feels VERY weak but NFP fear seems to be keeping it up. If we pop on number 1135 seems logical area to fade for reversion back to the mean. If we dump hang on because I can see us all the way back to 1090.75. (Numbers for the ES)
YM: 10699 very decent spot to look for shorts FTU. 10794 highest odds short FTU. 10532 good spot to look for long FTD. 10461 highest odds long FTD.
Wednesday, August 4, 2010
TraderSmarts Numbers for the YM Emini Futures - Thursday August 5, 2010
Support becomes resistance and vice versa...
10632, 10699, 10794, 10833 Resistance on the YM Emini Futures
10613, 10532, 10461*, 10403, 10376, 10333 Supports
Trade smart and trade well!
YM: 10699 very decent spot to look for shorts FTU. 10794 highest odds short FTU. 10555 good spot to look for long FTD. 10461 highest odds long FTD.
10632, 10699, 10794, 10833 Resistance on the YM Emini Futures
10613, 10532, 10461*, 10403, 10376, 10333 Supports
Trade smart and trade well!
YM: 10699 very decent spot to look for shorts FTU. 10794 highest odds short FTU. 10555 good spot to look for long FTD. 10461 highest odds long FTD.
Tuesday, August 3, 2010
TraderSmarts Numbers for the YM Emini Futures - Wednesday August 4, 2010
Support becomes resistance and vice versa...
10597, 10614, 10639, 10677, 10794 Resistance on the YM Emini Futures
10532, 10491, 10451, 10403, 10376, 10333 Supports
Trade smart and trade well!
YM: 10677 very decent spot to look for shorts FTU. 10794 highest odds short FTU. 10532 good spot to look for long FTD. 10376 highest odds long FTD.
10597, 10614, 10639, 10677, 10794 Resistance on the YM Emini Futures
10532, 10491, 10451, 10403, 10376, 10333 Supports
Trade smart and trade well!
YM: 10677 very decent spot to look for shorts FTU. 10794 highest odds short FTU. 10532 good spot to look for long FTD. 10376 highest odds long FTD.
TraderSmarts Numbers for the YM Emini Futures - Tuesday August 2nd, 2010
Support becomes resistance and vice versa...
10616, 10639, 10665, 10794 Resistance on the YM Emini Futures
10541, 10491, 10451, 10403, 10376, 10333 Supports
Trade smart and trade well!
YM: 10665 very decent spot to look for shorts FTU. 10794 highest odds short FTU. 10541 good spot to look for long FTD. 10376 highest odds long FTD
10616, 10639, 10665, 10794 Resistance on the YM Emini Futures
10541, 10491, 10451, 10403, 10376, 10333 Supports
Trade smart and trade well!
YM: 10665 very decent spot to look for shorts FTU. 10794 highest odds short FTU. 10541 good spot to look for long FTD. 10376 highest odds long FTD
Monday, August 2, 2010
How I View and Use Stop Losses
This was an email that I sent to a client regarding stop losses - hopefully it helps give an idea of how I view and use stop losses:
For me my stop is dependent on the trade itself. I do NOT use, for example, a 20 tick stop on all my YM trades. I find that each trade is unique and therefore needs a unique stop. Others may disagree but for me this strategy works. Also there are some trades where I will pair into a position and then the stop will be based on the cost basis of the position not the initial entry. Along the same lines I also am a BIG believer in managing risk by controlling size. If your maximum position size is 50 cars but you only initiate with 10 cars then you are controlling risk from the start and can afford to take a larger stop then you would if you initiated with maximum size, 50 cars.
As a general rule though I use a 13 - 30 pt initial stop (not hard stop) on the YM if I am not pairing into a position. If you are not pairing in there is rarely a need to use more than a 30 pt stop on an intraday trade - especially in this slow market. Obviously Fall 2008 that was not the case :)
I rarely put in a hard stop with my initial entry unless I know I won't be monitoring the trade. I have enough discipline to get out if my trade parameters are being violated. A lot of times my stops will be based on over or under and HOLDING a certain level. Say I am short 11050 on the YM and I don't want it over and holding 11068. Well we could go hit 11073 fast and then get back under 11068 fast and if I had a hard stop sitting I would be taken (stop stolen) while the premise of trade was still valid. Yes this costs me extra ticks sometimes when I do exit a loser but I have found that over time this approach pays off.
The time I will put in a hard stop is usually once I get a scale or two and then determine okay if it hits X level I want out. I'll just put in the hard stop so I don't have to worry about it.
Hope this helps!
Sunday, August 1, 2010
TraderSmarts Numbers for the YM Emini Futures - Monday August 2, 2010
Support becomes resistance and vice versa...
10510, 10558, 10630*, 10639* Resistance on the YM Emini Futures
10451, 10403, 10376, 10333*, 10243, 10059 Supports
Trade smart and trade well!
YM: 10510 is the line in the sand for longs. Needs over and holding to create a melt up. Prolly worth a short FTU and see if it can roll over and fill the gap. 10630 - 10639 highest odds short FTU. 10333 highest odds long FTD.
10510, 10558, 10630*, 10639* Resistance on the YM Emini Futures
10451, 10403, 10376, 10333*, 10243, 10059 Supports
Trade smart and trade well!
YM: 10510 is the line in the sand for longs. Needs over and holding to create a melt up. Prolly worth a short FTU and see if it can roll over and fill the gap. 10630 - 10639 highest odds short FTU. 10333 highest odds long FTD.
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