Shared by
Trader_Rod
Scalping the YM, shorting the bounce from the FOMC sell-off. The MFE was about 20 additional ticks but shortly thereafter reversed to above entries so okay with the scalp.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2012-04-03 15:10:00 | YMM2 | sell | $13117 | short |
| 2012-04-03 15:10:00 | YMM2 | sell | $13117 | short |
| 2012-04-03 15:14:00 | YMM2 | buy | $13114 | short |
| 2012-04-03 15:14:00 | YMM2 | buy | $13114 | 0 |
| 2012-04-03 15:17:00 | YMM2 | sell | $13115 | short |
| 2012-04-03 15:18:00 | YMM2 | sell | $13120 | short |
| 2012-04-03 15:22:00 | YMM2 | buy | $13105 | short |
| 2012-04-03 15:22:00 | YMM2 | buy | $13111 | short |
| 2012-04-03 15:24:00 | YMM2 | buy | $13113 | short |
| 2012-04-03 15:24:00 | YMM2 | buy | $13113 | 0 |
Comments
Trader_Rod
Most days the YM and ES are highly correlated as you know, but not always and on those days there is very good opportunity in the YM vs ES. I wouldn't say the YM is easier than the ES, just a good derivative where you can play divergence. The CL and TF, on the other hand, are definitely trickier instruments.
I try to establish market state each day by looking at the relative strength/weakness of the majors (ES, YM, NQ, TF) and then favoring position sizing and directional preferences accordingly.
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Nice short reentry once the fakeout breakout failed. Do you find that trading the YM is easier/more difficult than ES?