Trading the YM with Time and Sales

Jan 28, 2007
2,482
147
73
#1
Hopefully this isn't in the wrong section, but I can't think of a better place to put it.

This is a thread for the discussion of trading the YM using Price, Volume, and Time and Sales information. (Level II information also welcome, but I cannot use that at the moment - NinjaTrader / OpenTick)

Time and Sales
Software can be color coded according to whether the contract changed hands at bid, at ask, above ask, or below bid. For the YM, I have my software configured to show "blocks" whenever more than 10 contracts change hands at a price.

What does time and sales information tell us about short term market direction? Can we use it to get fills at better prices? What else should a YM trader be aware of?

Price and Volume
The dark side. Discussions of trading the YM / ES without indicators, or with very minimal use of indicators.

Level II
Strategies for trading the YM by the order book. (I currently cannot do this as my charting package NinjaTrader does not do LII with my chosen ECBOT feed OpenTick).

Hopefully people will post useful information and perhaps some strategies for trading this instrument.

To what extent does the ES lead the YM and how could this be used in a YM strategy?
 

firewalker99

Well-known member
Jul 29, 2006
6,655
596
173
#2
Hopefully this isn't in the wrong section, but I can't think of a better place to put it.

This is a thread for the discussion of trading the YM using Price, Volume, and Time and Sales information. (Level II information also welcome, but I cannot use that at the moment - NinjaTrader / OpenTick)

Time and Sales
Software can be color coded according to whether the contract changed hands at bid, at ask, above ask, or below bid. For the YM, I have my software configured to show "blocks" whenever more than 10 contracts change hands at a price.

What does time and sales information tell us about short term market direction? Can we use it to get fills at better prices? What else should a YM trader be aware of?

Price and Volume
The dark side. Discussions of trading the YM / ES without indicators, or with very minimal use of indicators.

Level II
Strategies for trading the YM by the order book. (I currently cannot do this as my charting package NinjaTrader does not do LII with my chosen ECBOT feed OpenTick).

Hopefully people will post useful information and perhaps some strategies for trading this instrument.

To what extent does the ES lead the YM and how could this be used in a YM strategy?
Good luck on the new thread.

I won't be able of much help for Level II as I don't look at it.
Time and Sales... do you mean looking up the number of contracts traded and at what price? or do you mean more like watching the tape and reading the bid/ask (in that case I would consider it tape reading and the thread http://www.trade2win.com/boards/showthread.php?t=22593 might be of help).

As for the third item, Price and Volume, price is and always will be the best indicator ;)

Finally, as the DOW's basket is only made up of 30 companies and their relative weight can be manipulated, it's not a very fair representation of the market. Although most people obviously follow it, it can be interesting to see that the ES hasn't made new highs yet, while the DOW seems to do nothing else but make new highs...
 
Sep 19, 2003
257
13
28
#3
Lurker

Level 2 and the futs always draws some interesting opinions, for me I cant see how you can trade off it consistantly.

Dont know if you have come across the ACV thread but it provides some input on the subject http://www.trade2win.com/boards/showthread.php?t=19478&highlight=acv

Taking breakout trades maybe you can you can get some insight on where to place entry orders, so if you have a big bunch of sellers at one price and you are looking to go long you dont want to be entering 1 tick below them, their entry needs to be taken out before your trade will get some legs.

Does the YM follow the ES ? Each contract is more closely linked to its underlying than it is to another contract. Trading the ES you need to monitor the S&P 500 for direction and to work out where the SP is heading you need to have an eye on the OEX ( S&P 100 )
if you have no follow through in the underlying you aint going to get it in the futs.
 
Likes: lurkerlurker

rols

Well-known member
Sep 10, 2004
1,621
335
93
#4
Hopefully this isn't in the wrong section, but I can't think of a better place to put it.

This is a thread for the discussion of trading the YM using Price, Volume, and Time and Sales information. (Level II information also welcome, but I cannot use that at the moment - NinjaTrader / OpenTick)

Time and Sales
Software can be color coded according to whether the contract changed hands at bid, at ask, above ask, or below bid. For the YM, I have my software configured to show "blocks" whenever more than 10 contracts change hands at a price.

What does time and sales information tell us about short term market direction? Can we use it to get fills at better prices? What else should a YM trader be aware of?

Price and Volume
The dark side. Discussions of trading the YM / ES without indicators, or with very minimal use of indicators.

Level II
Strategies for trading the YM by the order book. (I currently cannot do this as my charting package NinjaTrader does not do LII with my chosen ECBOT feed OpenTick).

Hopefully people will post useful information and perhaps some strategies for trading this instrument.

To what extent does the ES lead the YM and how could this be used in a YM strategy?
Before you get too excited may I suggest some serious research into data feeds?

If you would like to know to what extent does the ES lead the YM may I also suggest you put up two charts and engage brain.

As for posting strategies on a plate. It's why you asked the question that's more important.

The sooner one forms ones own opinions based on emperical evidence and powers of independent thought then the sooner progress will be made!

If you dig around enough in the mire of T2W there are pearls to be found.

But remember.

They are not cast freely.

:cheesy:
 

firewalker99

Well-known member
Jul 29, 2006
6,655
596
173
#5
If you dig around enough in the mire of T2W there are pearls to be found.

But remember.

They are not cast freely.

:cheesy:
That's true. I've said it before and I'll say it again, people are paying a lot of money for a load of crap on the web, but the stuff burried in deep in T2W is priceless.