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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Patrick Slevin who wrote (18239)3/11/1999 9:53:00 AM
From: Chip McVickar  Read Replies (1) of 44573
 
Very Interesting Pat,

Do you always sell a futures position when coming into a roll-over date?
Premiums must move similar to Options expirey.

Market selling off......The DJIA looks about ready to correct for a
few points. The SPX has to get through 1292 which could be hard, if it
fails today, then monday might be down. But unless some significant news
comes along there's to much money around to stop the upside bias.

As I watch you trade your short-term position trades and other daily
positions....I realise that capturing profits is imporant. Catching
a short trend can be wasted sitting on your hands waiting for the next
Leg Up. Failure to take those profits defeates the reson for making
the trade. When to sell a position is hard for me to pick and will get
harder when Real Money is in play. This is what I'm working on.

Longer term position players like Tom and GZ require completly different
attitudes and a willingness to watch profits melt away. Also a singular
confidence in their respective system. For me so far, It's one thing to
take a paper position and watch where it goes like Tom and GZ do....
And another thing to watch it melt away even on paper. I suspect that
in live trading atleast at first, I will be more inclinded to Get The
Profit First and will be more willing to sell.

Right now, I take 2 positions and sell one at targets and let the other
ride with stops in place....this maybe the best choice for me as I go
forward. But Selling and Holding are difficult when faced with Profits.
Chip
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