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Strategies & Market Trends : Tech Stock Options
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To: Tom Trader who wrote (42226)5/5/1998 11:33:00 AM
From: Patrick Slevin  Read Replies (1) of 58727
 
Does not take too much time to learn.

I may have a natural knack because of trading Nasdaq off a Level 2 for a few years. But for the spoos there are certain things to look for....sudden spikes to short or dips to buy all in tune with where the overall intraday trend is and whatnot.

When you lose you usually lose more than your average gain, but ... contrary to your system ... you look for more winners than losers.

Yesterday for example my average gain per contract was 1.2 points and average loss was 1.3

But I had 87.5% winners, so who cares.

Anyway it's a knack that could be incorporated into a longer term system. For example if you are net long 10 from 1116 and a sharp pullback brings it down to 1120, jumping in for 4 and then bailing on the snapback for 1 or 2 points does not affect the position trade and it passes the time, so to speak.
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