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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: Casaubon who wrote (28960)	9/3/2000 10:50:38 AM
From: Robert Graham	of 42787

those are interesting observations and I will take them uder advisement. I do not operate in that timeframe so I'm not sure that I can make use of that information. My post covered tests of resistance on both intraday and daily time frames. :-) If you don't mind my asking, what do you consider reasonable returns operating on such a timescale? I personally am still going through my learning curve trading the SPOO. But I can tell you what I have seen from some successful SPOO traders. Reasonable returns for a very experienced player with a proven track record would be IMO at least four points per day. This would make for at least 20 points per week. On the small SPOO that would make for $1,000 per week which can be increased by trading multiple contracts. On the large SPOO that would make for $5,000 per week. But the large SPOO is more difficult to trade and you are risking a much larger amount of money for one contract trades. Now there will be periods of time the market is not productive to trade which can go on for weeks even though this length of time is infrequent. Also the trader may take regular breaks of one or two days off to handle the stress level of trading in the smaller time frames. And the learning curve for trading the SPOO is quite significant which IMO most fail at. All of this has to be considered. I also believe most cup and handle patterns are assigned such erroneously. They have very, very specific structure and volume characteristics. Also, I recently read an IBD article which claimed 40% of cup and handle breakouts fall back into their base for a retest. How true as far as this goes for really any type of setup, particularly breakout patterns. Bob Graham

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