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Strategies & Market Trends : Tech Stock Options
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To: Leland Charon who wrote (22558)9/10/1997 2:22:00 PM
From: Tom Trader   of 58727
 
>>I know that you use a "mechanical system" to trade the bonds and
the futures. I assume that this system has been most helpful to you<<

It has been great--and I've been using it for years.

>>My question is do you find that using a system that is completely mechanical helps you with you trading?<<

Yes it does--because it takes the emotion/subjectivity out of trading.

>>Do you ALWAYS follow its signals

A-L-W-A-Y-S

In early days, I used to second-guess the system and it caused me to make mistakes. I NEVER deviate nowadays.

>> or do you find yourself second guessing them on occasion?<<

I second-guess whether a trade is going to work out or not but I still follow the signals. Like the current signal, I thought was going to be a bad one and--today, it's turned out to be good--at least so far. But it ain't over till its over--right??

For all I know the market may turn around in the final hour and I'll end up long the S&P futures.

>>Also, do you use any technical indicators when evaluating particular stocks? <<

A mixed bag of signals--Bollinger Bands, divergences, momentum, etc. No real formula, to it--it's subjective. I'd like to make it mechanical but have not been able to devise a system that does it successfully. But in all honesty, almost every trade I do is based on e-mail/postings that others make. IO for example was a stock that I had not heard of until about 6-9 months ago when Judy told me about it and then we both traded it on the long side for a bit. It then broke down and I kept watching it to determine a point to get into it. Same with BAY which was Judy and Michael. TBR was Lisa. CPQ was Kevin. Etc, etc.

I do have a lot of losers and I get out of them fast.

Hope this helps.
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