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

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To: Tom Trader who wrote (6109)	10/12/1998 11:23:00 AM
From: Patrick Slevin	Read Replies (1) of 44573

I think I was starting to think about the Bond when it was in the high 31 range, looking to sell 32, 33. Looks like it opened on the 5th with a death rattle at 3307 running to 3508 before beginning the collapse. My thoughts on the Bond (theoretically, as I have never traded it) would run along the lines of a 4 Tick Stop. So that first day ... or one day shortly before ... I would have been a loser. I would like to think that I would have waited until it appeared to top out. That I would not have sold it on a day like the 5th where there was so much strength. In any event, I don't know whether I would have stuck with a position trade. Hard to say for certain. As far as the Bond is concerned, I may have because "normally" such large moves are rare. So if I had a Full Point at any time I probably would have closed half and positioned the rest. It's all moot anyway. I have to develop something for the Bond. Seems relatively easy to trade. The last few weeks appear to be an aberration in terms of overall moves. Intraday, they appear to "normally" follow a tight pattern which lends a daytrader an edge. At least that's the appearance at first blush. What I'm looking at is the range, which rarely moved much more than a Full Point on any given day. I am just killing time. Winterizing the house. Marshalling my older sons and a friend of theirs to do the heavy lifting. Supervising is what I was born to do. Come to think of it, perhaps I'll get the older son to set this software oriented the way I like it. Nah, when he is away at school I won't know what to do in the case of a glitch. After this next trip I shall be around most of the time. Offhand, the pattern looks like up into mid-day then a pullback towards Secondary lows mid-day where someone may scalp a long into the time frame of the Bond Close....perhpas the eventual High of the day. Just a guess, looking at the pattern in passing as it is unfolding. I see you are looking to sell calls....anything else going on?

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