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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Tom Trader who wrote (2308)8/24/1998 11:26:00 AM
From: Nemer  Read Replies (2) of 44573
 
TT :

====> excellent point about not approaching day-trading as one does position trading--which I am prone to do.

Far be it from me to attempt to instruct you ...... however, I would throw in this comment on the way that I've found satisfactory, but only as a comment, not as a lecture.

This is just my method -----

I set a target at time of inception .....

both a profit and a loss point, and the 1 1/2 times that you use is compatible with mine....

the loss point is FIRM

the profit point is "semi-movable", that is if the SPX is moving rapidly in the direction to make the position profitable, I might extend it a tad, but more often than not, I'll exit half position and move the stop to something like mid way between the inception price and the half position exit price.

That stop is semi-movable, but only in the direction to make the trade more profitable......

I think this is somewhat of the same thing Pat does with the stop ( he'll correct me if I'm wrong about it) and I find that this works for me in day trading .......

This is written to the tread as somewhat of a clarification of what I do, and not as criticism of your method .

Regards --- Nemer
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