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Strategies & Market Trends : Swingtrading - Tricks of the Trade

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To: William W. Dwyer, Jr. who wrote (21)	10/4/1999 12:59:00 PM
From: Brandon	Read Replies (1) of 551

Bill, Here's the question for you. With your system, your strategies, your money management principles, how many positions do you take at the same time? I suppose this is even more relevant given the possibility of overnight holds during which time one loses control of the trade. If the general market reverses quickly, one could conceivably get stopped out of all the trades very quickly, having substantially more than a 2% total loss. I am comfortable during the day to have up to 5 open positions at one time, though when I do this I will be risking less than 2% on each trade. I like to keep the total risk exposure of my account under 6%, this just keeps me from having psychological problems. On an overnight basis I don't like to have more than 3 open positions, that's about when I start to lose sleep. These will never be "all one way", as I do like to have a hedge. In general I would not think a new trader should have more than 1 or 2 open positions at any time, at least in the first 6 months. Hope this helps. Brandon www.mtrader.com/swingtrade

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