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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin!
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To: F Robert Simms who wrote (5459)6/22/2000 10:56:00 AM
From: Patrick Slevin  Read Replies (1) of 7434
 
It's in markets such as these that oscillators work well. In a trending market they do not.

The trick is to guess when a trend has developed. I understand that ADX may do that for you. I was trying to determine if such a method might help me, but alas and alack, my attention has been diverted elsewhere for a time.

For my own part, I have not been able to trade in almost two weeks. So I've missed this action. I cannot speculate how I would have made out, because I have a hard time adjusting to trend changes. I know, or think I know, where a price may be hit that would initiate a trending market.....but even then I have a difficult time adjusting my mindset to trade differently than when it's in a sideways market such as this one. I was amused to note, by the way, that yesterday had a range of 15 points then closed a point away from the prior day's Close. No trend there.

I think, also, that people have trouble with this market because they are looking for a Buy (Sell) and Hold. It cannot be traded like that. Perhaps it would help you to determine boundaries or points that would suggest a breakout. Wait for that, and then trade.

Going into today I had 05.30 as such a point. A couple higher up, but that would be a signal to me to start to adjust my thinking that trend was developing.

That sort of thing.
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