Really nothing to report here on this one. I have one trade posted this morning. The ER2 short triggered early on but quickly whipped back around and I exited with a -10 tick loss. My indicators failed to signal another trade all morning. This is due to the momentum indicator that I use, together with the low range in the YM this morning. My data is showing that my win:loss ratio goes way down if the days range in the YM is lower than 100 ticks. I have decided to use a 50 pt threshold for morning trading together with my new momentum indicator. Most of the morning session was below 50 point range for the YM. It currently stands at a 68 point range. This range is not good for my momentum indicator. So, I have been on the sidelines after that first move and trigger. I expect that this may be the case for the entire day. Morning futures summary is below:
ER2: -10 ticks (equal to $100 per one contract position)
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