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Strategies & Market Trends : The Player's Club

SPY 665.67

-0.9%

Nov 17 4:00 PM EST

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To: Gersh Avery who wrote (9374)	6/4/2000 8:56:00 PM
From: Chip McVickar	Read Replies (1) of 11513

Thank You Gersh, It's nice to be on top at this point. >>Slow and easy .. hummmm ..<< My psyche and its' emotions seem to have a natural inclination to view any market success as an opportunity to reward itself by trading with even larger contracts. I found that getting out of a trades going against me became more difficult using these enormous numbers of contracts and I proceeded to lose all the previous gains after getting this sickening feeling that comes with...."Oh My God...!" So I trick it with money management: Divide the available trading capital by 50% and divide again by 50% as available for trading at any one time. On $250,000 that leaves 2.5 contracts over night and 5 for daily trades. With $790,000 I get 8 overnight and 15 to day trade. So far it seems to be working. Chip

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