Butchering YM

T44

Member
58 8
2nd trade...ask yourself if you would have messed with stops and targets if you'd been in Sim, I'd guess not so there's your answer? You even correctly suggested the round number bounce.
Go to the Articles section and have a look at Rande Howell's psychology stuff, there's at least 2 articles from a few years back, worth a read from the mistakes you're making I think it may help.
 

Splitlink

Legendary member
10,850 1,234
As an example, 1min timeframe YM right now I consider this to be an inverse H&S some would disagree its a little messy but that is what I see and yet again I have failed to do anything about it. And it hit its target.

Trading 1 min time frames on the Dow is quite a hairy experience.

In fact, the SP is the easier index on all TFs because of the risk factor involved. IMO, I find it a bit boring and opt for a European one. That's just my opinion.

A head and shoulders is nothing more than a possible change of trend, the right shoulder being the lower high, lower low. I doubt that there are many who would use a 1 min bar to predict a change of trend, although I use 5 min to try for a decent morning, or afternoon, session.

Anyway, heads and shoulders are fine but, for some reason, when I start trading them they stop working! :D I wish you luck with yours.

Luck goes with randomness, in which I am a believer. Control your stops---OK?

And remember the famous golf champion who said that the more he plays, the luckier he gets.
 
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Vasco da Banana

Established member
699 121
Trading H&S on 1m is doomed to failure, IMO. Assuming you're using SB, just looking at the differences between charts from different providers might be enough to tell you it won't work.
 

Kleft

Member
56 29
2nd trade...ask yourself if you would have messed with stops and targets if you'd been in Sim, I'd guess not so there's your answer? You even correctly suggested the round number bounce.


Yeah I agree on this, I think on paper I would have at least left the target and moved the stop tighter once the neck broke but I got ahead of myself and got chased out by expected fluctuations.
 

counter_violent

Legendary member
11,347 3,046
2nd trade...ask yourself if you would have messed with stops and targets if you'd been in Sim, I'd guess not so there's your answer? You even correctly suggested the round number bounce.


Yeah I agree on this, I think on paper I would have at least left the target and moved the stop tighter once the neck broke but I got ahead of myself and got chased out by expected fluctuations.

Trading 1m tf anything will only result in you becoming a volatility victim.
For the 1 decent winner you will achieve (assuming you can hold for a decent win), you will experience far more stop outs and other sideways go nowhere action when you trade a single pattern in isolation. Add in spread cost and I guarantee you will be a nett loser. But persist if you like !
 

t2w34035

Junior member
17 0
As an example, 1min timeframe YM right now I consider this to be an inverse H&S some would disagree its a little messy but that is what I see and yet again I have failed to do anything about it. And it hit its target.

I live trade the YM in 1, 4 and 64 minutes time frames. After months of live trading, many trading plans and unacceptable results, I switched to simulated trading. The switch and additional time helped me to understand how the YM trades, thereby essentially improving my trading plan, gaining confidence, eliminating anxiety, making money consistently...

Hope this helps.(y)
 
 
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