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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin!
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To: Patrick Slevin who wrote (3034)1/23/2000 3:25:00 AM
From: Jorj X Mckie  Read Replies (1) of 7434
 
Patrick,
I don't speak for Tom Dorsey or for DWA. I am a happy customer of theirs, but I also look at real time charts and I too extrapolate out the realtime P&F chart. I actually do this in my head with standard realtime bar charts (actually, I set it to candles for the visual). But I think that you took offense where none was meant. The "picking up dimes in front of a bulldozer", I believe is just a colorful expression that basically states that he would rather go for fewer big moves rather lots of little moves. In my discussions with Tom, it is clear that he has been reluctant to provide charts that would be ideally suited for daytraders based on the idea that his customer base would have the tendency to get whipsawed if they tried it. But he was very receptive to providing tools for futures traders on the grounds that those that are trading futures are more likely to know what they are doing and the risks that they are taking.

For someone with your skill with daytrading, you can pick up enough dimes to make it quite lucrative. For you, you probably don't even see the bulldozer because you are moving so quickly. For someone like me who has little understanding of how the market really works, If I tried to pick up those dimes, I would be flattened on my first day. This is all that I think was meant.

Sincerely,
JXM
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