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

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To: Tom Trader who wrote (2347)	8/25/1998 9:17:00 AM
From: Patrick Slevin	Read Replies (1) of 44573

Don't get too carried away with this mentor stuff, I have my share of mistakes. Once when I was having trouble similar to yours, trying to eke out more from a trade rather than taking profits I flew down to see Hank Camp in Florida and he suggested it. Turned me around immediately. Of course, we went over several things but my real problem was trying to grasp the proper exit strategy. Now I pay less attention to it; perhaps because the strategy has become more intuitive or perhaps the markets (being a bit more volatile) have forced me to take another tack. I don't know for certain. But I thought I would throw it out for consideration. My plan today, and it appears I should have taken it on Globex last evening when I came up with it, was to play for an almost straight up morning. Now, with ETH up 830 I have to wait to see if it attempts to close the gap. I don't think it will, completely. If you are shorting after the open I would give it a few minutes to see how the action in the E-Mini affects the spoo pit.

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