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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Tom Trader who wrote (2280)	8/22/1998 2:47:00 AM
From: MonsieurGonzo	Read Replies (1) of 44573

Tom; RE:" the easy way " I do so enjoy watching a pro, Tom; they make things look easy. >"The essentials of any good system include trading with the trend..." About a year ago, when I was just beginning to trade the indices, I was discussing a failed OEX short position with Nemer, and he wrote back something like, "you gotta trade in the direction they want to go, pardner!" You are a brilliant position trader, Tom - and I have learned a lot from you. Consider what position you would have held from Wednesday to Friday... I'm sitting there looking at the daily chart, and marvelling at the skill it took to make money on the long side from Wednesday to Friday. The (incredible, really) long scalping trade you executed this week was a beautiful thing to behold, but it was against the trend - you made money the hard way. You and Pat et al are down there in the tick-tocks, man (^_^) so Pat's experience with pushing the STOPs w/scale makes good sense, especially when the market is "fast", as you observed and commented upon; push STOPs w/speed. My deux centimes is to push your CHAIR back a meter or two from your trading screen, and get that feeling for the 2-3-4 day sentiment, so you can make money the easy way again (^_^) -Steve

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