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Questions on Position Trading for YM


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  #1 (permalink)
 Azrael 
Jurong Singapore
 
Experience: Beginner
Platform: NinjaTrader
Broker: Optimus Futures/Rithmic
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Hi guys,

I was wondering about position trading on YM.

Most threads for index futures here are of day trading or shorter time frames.

I am looking for a period of maybe 3-6 months.

A friend told me to start looking at Macroeconomics in form of news and fundamentals.

Any ideas where to start off? (Books, etc?)

Az

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 Fadi 
Luxembourg
 
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I do play indexes on a long term basis, YM but also NQ and ES.
I use the monthly, weekly and daily charts for this, and my technical analysis uses the same techniques that I would use on intraday minutes, ticks or volume charts...

I don't think you would need different methodologies compared to day trading, only your risk management and position sizing would differ to accommodate the wider swings of higher time frames.

That's of course if you want to restrict yourself to technical analysis.
But if you wish to venture in fundamental analysis, I highly recommend you read the book "Security Analysis" from Benjamin Graham.

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  #4 (permalink)
 Azrael 
Jurong Singapore
 
Experience: Beginner
Platform: NinjaTrader
Broker: Optimus Futures/Rithmic
Trading: TF
Posts: 72 since Jul 2012
Thanks Given: 39
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Fadi View Post
I do play indexes on a long term basis, YM but also NQ and ES.
I use the monthly, weekly and daily charts for this, and my technical analysis uses the same techniques that I would use on intraday minutes, ticks or volume charts...

I don't think you would need different methodologies compared to day trading, only your risk management and position sizing would differ to accommodate the wider swings of higher time frames.

That's of course if you want to restrict yourself to technical analysis.
But if you wish to venture in fundamental analysis, I highly recommend you read the book "Security Analysis" from Benjamin Graham.

That's what I am worried about, longer timeframes has larger swings, that's why I looked into FA.

Thanks for the input, will have a look! =D

Any more suggestions?

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  #5 (permalink)
pchan
sasqatchuanville
 
Posts: 11 since Jun 2009
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I trade the YM intraday and on occasion I'll hold for a period of a few days or even weeks. Typically the only time I'll hold is if we have hit a significant support/resistance zone with a clean rejection. I also like if the Transports are in a trend with my trade. If on the daily or weekly charts we're an important zone I'll drill down to anywhere from a 5 minute to a 60 minute chart to look for an entry to keep my risk small.

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  #6 (permalink)
 Azrael 
Jurong Singapore
 
Experience: Beginner
Platform: NinjaTrader
Broker: Optimus Futures/Rithmic
Trading: TF
Posts: 72 since Jul 2012
Thanks Given: 39
Thanks Received: 9

Thanks for the answers guys.

Just curious, other than US news what other news do I have to look out for?

China news? EU news?

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Last Updated on July 26, 2013


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