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Strategies & Market Trends : The Player's Club
SPY 683.47+0.6%Nov 28 4:00 PM EST
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To: JDinBaltimore who wrote (5476)2/9/2000 12:36:00 PM
From: Chip McVickar   of 11513
 
John,

Yup, SI is a wonderful environment.

There are lots of good questions in your post...

Question: Are these markets chaotic and random or are they quantifiable and if so How?

Any chart tells us basically 3 things:
1. Price at which buyers and sellers took positions
2. Time at which they did it
3. The psychology apparent at both those times.... The fear and Greed which is present.

Then there is money management, control of risk with trades going against your position.

These markets are not here for the small trader......the pits see stops and constantly run them down. We are krill to the large accounts. Stops are extremely important to all but the largest traders in any one day.... How one sets them is a part of money management and skill at reading charts and using indicators. But stops will eat away at your account if the percentage of trades are false.
They are NOT an answer.

>>index has swung 15-20 points against you<<

I just got out of a trade that went against me losing 14 points. That would be about the maximum drawdown amount for any one trade that I would enter in Live Trading. It has something to do with willing to give up 15 points in order to make 15 points. Stops are a big problem and there's a lot of written material on there use.

These two threads might be of interest if you've not already discovered them.
Message 12792621
Subject 18350

My Best,

Chip
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