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Strategies & Market Trends : Daytrading OEX options with a method, not a trading system
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To: R. M. JONES who wrote (6)7/2/1998 11:26:00 PM
From: John F. Summa   of 62
 
Once you have the oscillator charted, then the high and lows are used as second screen. When the oscillator gives a signal (crosses the +175 line or the -175 line and then reverses across again) you enter a trade when the INDEX itself (the price) breaks the previous day's high (if buy call signal) or low (if buy put signal). If you go back several years with OEX you will find that you get into many excellent trades this way. You need to set a stop of course, but the best way to play this is to sell half your position once you get stopped and the index has moved a couple of points. This way you can set a protective stop at breakeven, in effect setting up a low risk runner. -John
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