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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Tom Trader who wrote (35204)10/5/1999 10:43:00 AM
From: Patrick Slevin  Read Replies (1) of 44573
 
Yeah, I hate it when I keep something on overnight and get the Royal Fleece in the morning.

I've promised myself to never do that again. If I'm that convinced I'll just use Index Options. I'd rather lose a few on Premium Burn than get compleatly kilt.

The other edge is that every day is a new day.....makes no difference where the market is.

The position trader has an edge in a trending market. But with any sense at all the daytrader can work it back and forth anyway.

As you know, the volatility that exists these days can pick the pocket of either type rather quickly. So for me, at least, I think that having the mental edge of protecting Profit as the be-all and end-all keeps me from formulating the Opinion that the market is wrong and I am Right. I'd rather make 10 points a day for a week than be ahead 50 on a position trade and give back 20 on the sixth day.

I'm just cheap, I guess. Of course, it's more work but I find the time to relax once in awhile.

EDIT I haven't had the time to read it all as yet but it seems one of our friends clocked the market scalp-daytrading Friday and Monday for over a hundred points per contract.

Not bad, that's a hell of a lot of work for me though.
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