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Strategies & Market Trends : Tech Stock Options
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To: Kevin who wrote (28316)11/13/1997 11:34:00 AM
From: Tom Trader  Read Replies (2) of 58727
 
Hi Kevin--just saw Nemer'post as I was getting ready to respond to your post

So this should confuse you further:)

>>1) is it a good idea to hold overnight?

Yes--position trading has made me more money than day trading -- any day(pun intended)--and it takes a fraction of the effort

The only caveat is that if you are a good day trader and you have the time and inclination to keep it up, you could do well at it.

2) should I use the EXACT same amount of cash on each position when using the system.

I don't know about day-trading but when it comes to position trading, I have found through extensive testing that the best thing to do is to maintain the same size position on EVERY position.

What you may want to consider is doing both for a while--in other words position trade based on certain signals and day trade based on others. If you decide to do so, you should maintain separate accounts--one for day trading and the other for position trading.

I have also found that from a money management stand-point the size of ones position should be co-related automatically to the available capital. In other words as your equity goes up or down based on your trading success, one should increase/decrease the size of the position. I posted this to Bart some time back in greater detail.

Final point--I think that you are commencing to see the merits of a good mechanical system. The toughest part is to be able to follow every signal and not second guess them. I now do it blindly -- but it took me years to get there.

Regards
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