Trading the SPOOs with Patrick Slevin! Message Board

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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin!

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To: Gary E who wrote (1408)	11/23/1999 6:30:00 PM
From: Matthew L. Jones	Read Replies (4) of 7434

I was hoping some of you experienced S&P gurus could help me solve a problem. I am new to daytrading the e-minis and am still refining my system a bit. Here is what I know about my system so far: 1) I get consistently good entry signals and am very profitable trading trending markets. 2) I'm getting bled to death on stop losses in these flat markets. I am needing to devise or modify some way of filtering out the non-trends. Inevitably, just about the time I put a trade on, the move evaporates and I get whipped out. And then no sooner do I get my stop hit than the market promptly does what it was supposed to do without me in it. Very frustrating. I'm sure this has never happened to any of you <vbg>. But seriously, I need some help in the area of stops. I've been using initial 1 point stops and then trailing moves in my favor by half the distance between the initial stop and the most profitable point of my trade. The trailing stop seems to be working. The initial stop is not. I've tried allowing an amount equal to the most recent average 5 minute bar (it gets bigger the more volatile the market is) and that doesn't seem to work well either. I've tried using 10EMA5 HI, LO and CLOSE (entry off of the close and the HI or LO EMA being the initial stop, whichever is negative). I'm about ready to scream! I've got to come up with some kind of reasonable and non arbitrary stop system before I bleed to death. I would appreciate any thoughts in this area. Thanks. Matt BTW, In case any of you were using the intraday S&P probability tables I posted on my website, I discovered today that when I pasted the data in on the "duration" column I was off by several rows so I have corrected the error and reposted the site. Sorry for any inconvenience.

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